Rates and charges
This page provides a summary of the rates and charges that apply to NatWest current accounts.
Full copies of the fees and interest rates, and terms and conditions that apply to our personal accounts can be downloaded from our terms and conditions page.
Subscription fee
An annual subscription fee is payable on the following account. Membership includes access to all the benefits listed in the appropriate brochures and user guides.
| Type of current account | Subscription fee |
|---|---|
| Advantage International | £150.00 per year. Payable from your Advantage International account |
| Advantage Cheque | £12.00 per month. Payable from your Advantage Cheque account |
Interest we pay you
The annual rates of interest paid on credit balances:
| Type of current account | Amount held in account | Gross Rate % | AER% |
|---|---|---|---|
| Advantage International - Sterling | |||
| £1,000,000 + | 0.25 | 0.25 | |
| £750,000 - £999,999 | 0.10 | 0.10 | |
| £500,000 - £749,999 | 0.10 | 0.10 | |
| £250,000 - £499,999 | 0.10 | 0.10 | |
| £100,000 - £249,999 | 0.10 | 0.10 | |
| £50,000 - £99,999 | 0.10 | 0.10 | |
| £25,000 - £49,999 | 0.10 | 0.10 | |
| £10,000 - £24,999 | 0.10 | 0.10 | |
| £2,000 - £9,999 | 0.10 | 0.10 | |
| £0 - £1,999 | 0.10 | 0.10 | |
| Advantage International - US Dollar | |||
| $1,000,000 + | 0.15 | 0.15 | |
| $750,000 - $999,999 | 0.10 | 0.10 | |
| $500,000 - $749,999 | 0.10 | 0.10 | |
| $250,000 - $499,999 | 0.05 | 0.05 | |
| $100,000 - $249,999 | 0.05 | 0.05 | |
| $50,000 - $99,999 | 0.05 | 0.05 | |
| $25,000 - $49,999 | 0.05 | 0.05 | |
| $10,000 - $24,999 | 0.05 | 0.05 | |
| $2,000 - $9,999 | 0.05 | 0.05 | |
| $0 - $1,999 | 0.05 | 0.05 | |
| Advantage International - Euro | |||
| €1,000,000 + | 0.50 | 0.50 | |
| €750,000 - €999,999 | 0.40 | 0.40 | |
| €500,000 - €749,999 | 0.35 | 0.35 | |
| €250,000 - €499,999 | 0.25 | 0.25 | |
| €100,000 - €249,999 | 0.10 | 0.10 | |
| €50,000 - €99,999 | 0.10 | 0.10 | |
| €25,000 - €49,999 | 0.10 | 0.10 | |
| €10,000 - €24,999 | 0.10 | 0.10 | |
| €2,000 - €9,999 | 0.10 | 0.10 | |
| €0 - €1,999 | 0.10 | 0.10 | |
| Advantage Cheque | |||
| £5,000 + | 0.25 | 0.25 | |
| £0 - £4,999 | 0.15 | 0.15 | |
| Current Plus | |||
| Any amount | 0.10 | 0.10 | |
Updated: 18th May 2009
Calculation and application of interest.
Interest is calculated on a daily basis and paid into the account once a month.
Interest due on overdrawn balances
Unarranged overdrafts
Any amount overdrawn without an arranged overdraft or in excess of an arranged overdraft limit will be charged at the following rates:
| Type of current account | Nominal monthly rate % | Nominal annual rate % | EAR % Typical variable |
|---|---|---|---|
| Advantage Cheque | |||
| All amounts | 1.48 | 17.73 | 19.24 |
| Current Plus | |||
| All amounts | 2.19 | 26.28 | 29.69 |
Charges
There are a number of ancillary services available to you. The most common of these are listed with their costs. These charges are in respect of personal banking. Also listed are services which we may have to perform for you.
Arranged overdrafts - arrangement and renewal fees
| Fee payable | |
|---|---|
| Advantage Cheque | |
| Arrange an overdraft up to £10,000 | Free |
| Arrange an overdraft £10,000 + | 2% of overdraft facility (Min £45) |
| Renew an overdraft at the existing level | 1% of overdraft facility |
| Current Plus | |
| Credit Zone Overdrafts up to and including £7,500, where interest is charged at the standard Credit Zone Overdraft rate | No fee |
| Credit Zone Overdrafts over £7,500 or Credit Zone Overdrafts where an interest rate other than the standard Credit Zone Overdraft rate is payable | 2% of the new limit (minimum £30) |
Unarranged overdrafts and unpaid items - charges
| Fee type | Fee amount |
|---|---|
| Unarranged overdraft - maintenance charge. If you borrow more than your agreed overdraft limit you will be liable for a maintenance charge applied monthly 16 days after the end of the charging period (or the next business day if this is a Saturday, Sunday or Bank Holiday). The charging period is normally in line with the date that we send your statement to you | £20 per month |
| Paid referral fee - Payable when you informally request an overdraft by issuing a payment instruction on your account where there are either insufficient funds or insufficient unused agreed overdraft facility to meet the payment and we in our discretion make payment which results in or increases an unarranged overdraft. The fee will be applied 21 days after the end of the charging period in which the transaction was paid or taken from your account (or on the next business day if this is a Saturday, Sunday or Bank Holiday). The charging period normally ends on the date that we issue your statement to you. | £15 for any day on which a paid referral(s) occurs (max £90 in any charging period) |
| Letter to inform you of an unarranged overdraft | Free |
| Unpaid item fee - Payable when a cheque, Standing Order, Direct Debit or a future dated payment made over the counter at a branch or by using our telephone or online banking service is not paid due to their being insufficient funds available in your account. | £5 per item (max £50 in any charging period) |
| Guaranteed card payment fee - Payable when you informally request an overdraft by making a payment supported by a cheque guarantee card where there are insufficient funds or insufficient unused agreed overdraft facility to meet the payment. When your account is overdrawn in excess of any agreed overdraft limit, a maintenance charge will also be applied. | £15 per item (max £90 in any charging period) |
| Default Notice Charge | £30 each |
| Charge for court orders/legal processes - served on the Bank, brought on by a third party against a customer | £25 minimum |
Charges for additional services
| Fee type | Fee amount |
|---|---|
| Stopping a cheque (except for lost /stolen cheques) | £10 |
| Special presentation of a cheque | £15 |
| Copies of paid cheques including providing details of paid cheques | £5 per cheque (max £150) |
| Duplicate statement/historic copy | £5 per request |
| Certificate of balance or debit interest | No charge |
| Certificate of credit interest | £10 |
| CHAPS Payment (Same Day Value Payment) | £23 (discounted to £15 for ibanking Plus customers) |
Common definitions
Throughout this page, you'll see various terms being used. Here's what they mean:
Annual Equivalent Rate (AER) - This is a notional rate used for interest bearing accounts, which illustrates what the gross credit interest rate (excluding any bonus interest payable) would be if paid and compounded on an annual basis. It helps you to compare the effective rates of credit interest on different accounts.
Effective Annual Rate of Interest (EAR) - This is the real annual cost of an overdraft, stated as an annual rate, which takes into account how often interest is charged to the account. All other charges, such as arrangement fees, must be shown separately from the EAR.
Gross Rate - This means the interest rate you are paid before the deduction of income tax.
Nominal Rate - The rate charged excluding compounding of interest and other charges associated with a borrowing, e.g. arrangement and security fees.
p.a. - per annum (per year).
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