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Upgrade to a NatWest Reward Silver account
What is the NatWest Reward Silver account?
NatWest Reward Silver is a current account packed full of useful extras. As the name suggests, it could make your everyday banking a little more rewarding.
For a monthly fee of £10, you get access to a range of fantastic perks which could be great for staying in, going out or getting away. Enjoy everything from cinema discounts to European travel insurance.
You can also access monthly Rewards that you can spend, use to buy gift vouchers and e-codes or even donate to charity.
This account has a £10 monthly fee and to apply, you must be an existing NatWest current account customer.
The NatWest Reward Silver account gives you insurance and lifestyle benefits. This type of bank account could be right for you, however, it’s always worth researching carefully before you apply for your Rewards account to make sure.
Yes. You get European travel insurance with the Reward Silver account. It covers you and any joint account holders for 22 days per trip. You can take unlimited trips. Find out more about European travel insurance for Reward Silver account holders.
An arranged overdraft is available with this account (subject to eligibility). An overdraft is a form of borrowing and is repayable on demand. It can be useful for short term borrowing.
To apply for or amend an overdraft on your account visit our Overdraft pages.
There are two different types of overdraft:
- An arranged overdraft, which allows you to go overdrawn up to an agreed limit.
- An unarranged overdraft. This is when you spend more money than you have in your current account without already having an arranged overdraft, or when you exceed your current arranged overdraft limit
We charge interest on both types of overdraft. Going in to an unarranged overdraft limit can lead to payments being rejected.
It’s easy to change your existing NatWest current account to a Reward Silver online. All you’ll need are your personal details, account number and sort code.
As you're changing your existing account to another, you'll:
- Keep your existing sort code, account number and debit card. Your existing standing orders and direct debits will stay the same.
- Retain your arranged overdraft limit.
- See no impact to your credit rating.
Why pick a bank account with benefits?
NatWest Reward Silver could be useful for large purchases, everyday spending and treating yourself. That's because you can earn from 1% back with our partner retailers and earn Rewards for doing your day to day banking with us. This account lets you manage your money in the same way as you would with a standard current account. You just get a few added extras along the way.
- Insurance for European travel. Provides cover for trips of up to 22 days. Cover includes cancellation and emergency medical treatment.
- Mobile phone insurance. Breaking or losing a phone can be stressful and expensive. We’ll cover you for loss, theft, accidental damage and breakdown (once your manufacturers warranty has expired).
- Fee-free debit card purchases abroad. Wave goodbye to debit card transaction fees when you jet off on holiday, so you can spend without worrying about additional costs. Keep in mind money from a cashpoint abroad can come with local charges.
- Earning Rewards that you can redeem as cash or e-Gift Cards. Or get Rewards for everyday banking tasks like paying Direct Debits or logging into your mobile app.
- £10 monthly fee. It’s all yours for £10 a month.
Mobile phone insurance underwritten by Aviva Insurance Limited. Travel insurance is underwritten by AWP P&C SA and administered by AWP Assistance UK Ltd trading as Allianz Assistance.
How do rewards work?
You can earn £4 a month back in Rewards for setting up two or more Direct Debits. Two of those Direct Debits need to be at least £2 each. Plus, you can earn an extra £1 a month back in Rewards with one mobile app login. That's up to £5 a month to spend on whatever you like.
You can also earn from 1% back in Rewards when you spend with our retail partners. When your available Rewards balance is the equivalent of £5 or more, you can:
Get as cash into your account
Easily exchange your Rewards as money back into your current account.
Trade up
Exchange your Rewards for e-Gift Cards with our retail partners. From cinema tickets to supermarkets, there are loads to choose from.
Save or spend
Not ready to choose how to use your Rewards? You can exchange them as money into your savings account.
Donate to charity
We have a whole range of chosen charities you can donate your Rewards to each month.
Switch to NatWest
The Current Account Switch Service will do all the work when it comes to switching, moving everything across from your old account to your new account all within 7 working days, including Direct Debits and standing orders. All you need to do is tell us the details of your old bank account and when you want the Switch to start.
We can not switch savings accounts or ISAs through this service. Any other products you have with your old bank will not be moved at the same time.
Current Account Switch Guarantee (PDF, 39KB)
More detail on benefits
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Mobile phone insurance
When bad things happen to your mobile, you need good cover. Our mobile phone policy covers loss, theft, accidental damage and breakdown (once your manufacturer’s warranty has expired). Underwritten by Aviva Insurance Limited.
Mobile phone insurance - in detail
Covers the phone you use on a daily basis. If your account is in joint names, cover is also provided for the phone the other account holder uses on a daily basis. There is no cover for phones owned by your employer.
One approved claim can be made in any 12-month period. If this is a joint account, each account holder can make One approved claim, with a maximum of two per account.
Claims are settled by repairing your phone, where possible. If we are unable to repair your phone, or it has been lost or stolen, we will replace it. Our replacement phones are refurbished handsets in ‘as new’ condition using genuine manufacturer parts. Our repairs use genuine manufacturer or manufacturer quality parts.
There is a £100 excess for each approved claim when your phone is replaced or if you mail it to us to be repaired.
There is a £50 excess for each approved claim when you choose our convenient walk-in or mobile repair options.
Replacement phones and phones mailed to us for repair include a 12-month warranty. Phones repaired by our mobile or walk-in repair agents include a 24-month warranty.
European travel insurance (with COVID cover)
Do you love to travel? This account offers European travel insurance that covers you for up to 22 days per trip. The policy also includes winter sports cover (underwritten by AWP P&C SA and administered by AWP Assistance UK Ltd trading as Allianz Assistance).
European travel insurance - in detail
You’re covered for 22 days per trip for UK and European travel (including winter sports). It includes emergency medical expenses, cancellations, baggage and more.
European travel insurance is underwritten by AWP P&C SA and administered by AWP Assistance UK Ltd trading as Allianz Assistance.
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Cinema discount
Enjoy savings on cinema tickets at over 250 cinemas nationwide.
Tastecard
If you love eating out, you’ll love this offer: 2 for 1 meals, 50% off food or 25% off food and drinks at thousands of restaurants UK wide.
tastecard in detail
- Some restaurants may exclude tastecard use on Friday or Saturday evenings, Mother’s Day, Father’s Day, Valentine’s Day, the whole of December and potentially other "event" type days.
- Where restaurants offer 50% off food or 25% off food and drinks they may limit the number of people; where restaurants offer 2 for 1 this does not include side dishes or extras.
- Some restaurants require the customer to book prior to arriving.
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Earn Rewards
Earn £4 a month back in Rewards for two or more Direct Debits - two of those Direct Debits needs to be at least £2 each. Plus, earn an extra £1 a month back in Rewards with one mobile app log in. That's up to £5 a month back in Rewards to spend on whatever you like.
Exchange Rewards
Once you reach £5 in Rewards, the choice is yours. Bank it into your NatWest bank account, trade up for gift cards and e-codes with our retail partners, or donate to one of our chosen charities.
How to exchange your Rewards
As soon as your available Rewards balance is the equivalent of £5 or more, you can log in to MyRewards to exchange them. Keep in mind, if you choose to bank your Rewards it will take 5 working days to clear.
To login, you first need to set up your MyRewards account. You'll need your NatWest debit card number on hand.
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Mobile app
Stay in control of your money with our easy-to-use Mobile Banking app.
Mobile app details
Our mobile app is available to Online Banking customers with a UK or international mobile number in specific countries.
What can you get up to with our mobile app?
Log in with your fingerprint on selected Apple and Android devices– it’s simple, secure and fast.
View, cancel and amend your regular payments – so you manage your bills where and when it suits you. Limits apply.
Get cash without your card – Ideal if you’ve left your card at home. Simply go to any NatWest or Tesco cash machine and follow the steps in the app. You can withdraw up to £130 every 24 hours.
That’s only half the story. Find out what else you can do. More about Mobile app.
Our range of savings accounts
We have a range of savings accounts available to our current account holders.
Comparing savings accounts
Whether you're new to saving, or more of an expert, our Savings Hub is designed to help you find the savings account that best suits your needs. We have a range of accounts which you could have access to if you open a current account with us.
Individual account eligibility criteria and conditions may apply.
Get rewarded for saving regularly
We've just added Digital Regular Saver to our range of savings accounts. You'll get our highest interest rate when you save between £1-£150 by standing order each month, on balances up to £1000. What are you waiting for?
View our Digital Regular Saver
Specific account eligibility criteria and conditions apply.
Ready to upgrade your account?
Take a look at the important legal information first:
If you carry on applying, it means you're happy with what's in these documents, including the FSCS information sheet. And happy to view your statements in Online Banking - not posted. Please take some time to review, print and/or save the important information.
All kinds of general info about our current accounts. Including details about the Reward Silver Account.
Very important information about how your money is protected. Just in case.
How much our charges will be. From taking cash out abroad to an unarranged overdraft.
Important basic info about the bank. For example, who regulates us and how to complain (hopefully you won't need that bit).
How we promise to treat you, if we lend you money. And what we expect from you in return.
All the detail about the scheme. From how to set it up and how to earn Rewards, to how we’ll keep in touch with you.
Items covered within the Reward Silver packaged account fee, e.g. European Travel and Mobile Phone Insurance.
These Terms are the ‘Silver Benefit Terms’ referred to in ‘Your Current Account Terms’ and are part of the agreement between you and us for your Silver account.
This booklet contains everything you need to know about your European travel insurance.
How your information might be used
It's important for you to understand how we use and share your information. Please read this short summary before you continue with your application.