Advantage Cheque
Worldwide travel insurance, tailored rates and more
Managing your money just got more rewarding. Our Advantage Cheque current account is packed with extras - including annual travel cover and collision damage waiver for hire cars.
Get more from your current account. For just £12 a month you'll enjoy all this and more:
Travel and leisure - with protection that kicks in from your departure point, including the Channel Islands and Isle of Man. Plus winter sports cover comes as standard and you are covered for emergency treatment in the UK.
Insurance - if you, your partner or your children experience an accident you could get a lump sum payment
Security - arrange emergency cash, replacement documents, medical care, legal help and more
Banking - pay less on your overdraft, and earn higher interest when your account is in credit
Advantage Cheque gives you all this for just £12 a month.
Banking benefits
- Pay with ease - a cheque book and debit card make spending simple
- Bank your way - online, on the phone or in a branch
- Credit cards - apply for a Platinum credit card, subject to status
- Tailored rates - tailored rates on overdrafts and loans
Insurance benefits
- Travel cover - with protection that kicks in from your departure point, including the Channel Islands and Isle of Man. Plus winter sports cover comes as standard. It's the easy way to get cover for yourself, your partner and your children
- UK Reciprocal Health Cover - for Chanel Islands residents, covering you and your family for emergency treatment in the UK, including repatriation back to the Channel Islands
- Hire cars - why pay for loss and damage waiver insurance? Instead, get automatic cover up to $80,000 a vehicle. All you have to do is hire a car for holiday use outside your country of residence. The maximum stay is 31 days
- Emergency help - you're never left on your own. Arrange emergency cash, replacement documents, medical care, legal help and more
- Personal accident cover - if you, your partner or your children experience an accident, this policy could make a lump sum payment
- Cover when you buy - protection for a large range of purchases. Simply pay using your NatWest International debit or credit card
- Insurance - savings on your first years premiums for Home and Car insurance
Lifestyle benefits
- Concierge service - the support you need, 24 hours a day. Help with everything from finding a reliable plumber - to arranging a Valentine's Day treat
- Discounts - specially negotiated discounts at your favourite local stores
- Eating out - money off your bill in selected restaurants
- Tickets - book your events for less, and get hold of hard-to-find tickets
- Membership card - receive a Lifestyle priority membership card
Travel benefits
- Airport lounge access - 20% discount off Priority Pass providing VIP airport lounge access
- Holidays - save on flights, hotels and more
This page provides a summary of the rates and charges that apply to the Advantage Cheque current account.
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 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 Cheque | £5,000 + | 0.25 | 0.25 |
| £0 - £4,999 | 0.15 | 0.15 |
Calculation and application of interest.
Interest is calculated on a daily basis and paid into your account monthly, usually the day after we send your statement to you.
Interest due on overdrawn balances
Arranged overdrafts
Our arranged borrowing interest rate on Advantage Cheque is set at a margin of 6% above our base rate.
The rate you pay will change automatically as our base rate changes in line with interest rates generally. Changes to our base rate are published in newspapers and are displayed in our branches.
Unarranged overdrafts
| Overdraft tier | Nominal monthly rate % | Nominal annual rate % | EAR % Typical variable |
|---|---|---|---|
| Advantage Cheque | |||
| All amounts | 1.48 | 17.73 | 19.24 |
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
| Advantage Cheque | Fee payable |
|---|---|
| Overdrafts up to £10,000 | No fee |
| Overdrafts above £10,000 | 2% of the new limit (minimum £45) |
| Renew an overdraft at the existing level | 1% (minimum £45) |
Unarranged overdrafts, unpaid items and enforcement charges
| Fee type | When charged | Fee amount |
|---|---|---|
| Maintenance charge | ||
| If your account becomes overdrawn without prior arrangement or any arranged overdraft limit is exceeded, you will be liable for a monthly maintenance charge. The maintenance charge will be applied if you have an unarranged overdraft at any time during a monthly charging period. | 21 days after the end of the charging period (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. | £20 |
| Paid referral fee | ||
A paid referral fee will be payable if:
| 21 days after the end of the charging period (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 each day on which a paid referral occurs (subject to a maximum of £90 in any charging period) |
| Guaranteed card payment fee | ||
A guaranteed card payment fee will be payable if:
| 21 days after the end of the charging period (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 each transaction (subject to a maximum of £90 in any charging period) |
| Unpaid item fee | ||
An unpaid item fee will be payable if:
| 21 days after the end of the charging period (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. | £5 for each item (subject to a maximum of £50 in any charging period) |
| Making an informal request for an overdraft means you will have to pay a paid referral fee, a guaranteed card payment fee or an unpaid item fee. If an unarranged overdraft arises, you will also have to pay the maintenance charge and interest on the amount overdrawn. For examples showing how our charges work, please see the section headed unarranged overdrafts and unpaid items in our leaflet 'Our commitment to you'. | ||
| Enforcement charges | ||
| A default notice fee will be payable if we need to serve a default notice on you (for example, if you fail to repay your overdraft on demand or we wish to enforce any security we hold). This is in addition to any other charges that may apply. | Within four days of the default notice being served. | £30 per notice |
Additional services
| Stopping payment instructions | |
|---|---|
| Stopping a cheque (unless it has been lost or stolen) | £10 |
| Payments | |
| Obtaining a sundry payments cheque | £12 |
| Obtaining a special cheque clearance | £15 (£25 in Gibraltar) |
| CHAPS payments | £23 |
| Obtaining copies of statements | £5 per request |
| Certificate of debit interest | No fee |
| Certificate of credit interest | £10 |
| Tailored loan arrangement fee | 2% of amount borrowed (minimum fee £100) |
| International payments | |
| Including currency transfers in the UK currency inward collections | 0.3% (minimum fee £23, maximum fee £40) plus £10 agents charge where applicable |
| Inward payments from overseas | |
| Depending on payment instructions these charges may be for the Over beneficiary or remitter | Up to £100 - no charge Over £100 - £7.50 plus agents charges where applicable |
| Foreign cheques | |
| Cheques drawn at foreign banks in local currency are usually negotiated The Bank reserves the right to obtain proceeds on a collection basis where appropriate | Negotiation 0.25% (minimum fee £7, maximum fee £45) Collection 0.25% (minimum fee £20, maximum fee £70) |
| Foreign draft | £40 |
| Outward / Inward payment investigations | |
| Within 6 months of payment release | £25 per item |
| 6 - 12 months from payment release | £50 per item |
| Over 12 months from payment release | £100 per item |
| ibanking plus payments | |
| CHAPS reduced tariff | £15 |
| ibanking plus international payments | |
| £5,000 or less | £15 |
| Over £5,000 | 0.3% (maximum £40) |
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).
Apply now
Jersey
01534 282828
Guernsey
01481 703800
Isle of Man
01624 697900
Gibraltar
00350 200 77737
Lines are open: Mon to Fri 9.00am-5.00pm
(excluding public holidays).
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