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First Saver

Start saving for their future with our child savings account

First Saver accounts are available to children aged 16 years and under (or up to 18 years if the account is held in trust) who are resident in Jersey, Guernsey, Gibraltar or Isle of Man. Please read the Summary Box below before you apply, this will give you key information about First Saver.
On this page
Account features
What's the interest rate?
How much interest could I earn?
How do I open an account?
Definitions
Apply for a First Saver account

Why choose a First Saver account?

  • Help your child learn how to save and manage money
  • Earn interest on balances each month, with instant access
  • Free Pigby piggy bank with every account (subject to availability)

In detail: First Saver

What's the interest rate?

Balance
£1 +
Gross p.a./AER (variable)
0.20%
Interest rates are variable and are subject to change. Interest is calculated daily and paid quarterly on the first business day in January, April, July and October. You’ll be able to see and access the interest on the following day. The interest rate is variable and could go up or down.
Our savings account rates

Can NatWest International change the interest rate?

Yes, the interest rate is variable. The rate may increase or decrease for any of the reasons set out in Term 10.3 of the Personal Banking Account Terms and Fees to account for the Bank of England's base rate changes or changes in the rates paid by other banks. If the rates are going down we'll give you at least 60 days' notice. If they are going up, we'll inform you before the change or shortly afterwards. Term 10.4 of the Personal Banking Account Terms and Fees contain details of the notice we'll give you.

How much interest could I earn?

Initial deposit at account opening

£1,000

Balance after 12 months

£1,002.00

Interest earned

£2.00
This is only an example and does not take into account your individual circumstances. It assumes that no further deposits or withdrawals are made; there is no change to interest rate; and any interest earned stays in the account.
Our savings account rates

How do I open and manage the account?

  • All parties must be resident in Jersey, Guernsey, Isle of Man or Gibraltar to apply.
  • If you’re aged between 7-16 years, you can open an account in your own name with the consent of your parent or guardian.
  • If you’re aged 18 years or over, you can open an account in trust for a child aged up to 18 years.
  • If you’re resident in Gibraltar, you must already be an existing NatWest International customer to open the account.
  • The account can be opened and managed online, in branch or by telephone banking.

How do I open an account?
Who can give instructions on the account?

Account held in trust (0-16 years)

In branch, online or by telephone
The adult only

Account held by child (7-16 years)

In branch, online or by telephone (with consent)
The child only

Can I withdraw or transfer money?

Yes, this is an instant access savings account meaning that you can withdraw or transfer the money at any time.

Account held in trust: you can withdraw money in branch, or transfer to any other account based in the UK, Channel Islands, Isle of Man or Gibraltar (online, via telephone or on the mobile app).

Account held by child: children under the age of 11 can only make withdrawals in branch.

Once they turn 11 years of age they may register for our telephone and online banking services.

There are daily limits on the amount you can transfer from your account online, by telephone or mobile banking. You can find out the current daily limits by calling telephone banking or asking in branch.

Definitions

AER: Stands for Annual Equivalent Rate. It shows you what the rate would be if the interest was paid and compounded each year.

Gross Rate: This means the interest rate you are paid without deduction of income tax.

p.a.: Per annum (per year).

Ready to apply?

Before you apply, we've outlined the eligibility requirements for the account below, along with our terms and conditions to make sure it's the right account for you. If you're happy, we'll run through a few quick questions to make your application as easy as possible.

You can apply for a First Saver if you are:

  • aged 18+ if you're opening the account for a child under 16, or aged 7 to 16 (with parent/guardian consent if you're opening the account for yourself, and
  • resident in the Channel Islands, Isle of Man or Gibraltar (you must be an existing customer with us if you are resident in Gibraltar)

Please review important information about the account

By clicking continue you’re confirming that you’ve been provided with, and have acknowledged our important documents. By proceeding with your application you also agree that you’ll receive your statements in a paperless format. We'll send you an email when your statements are ready to view in Online Banking.

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.

Let's get started...

To speed up your application for a First Saver account, we need to run through some quick questions with you. They'll only take a few minutes.

Continue
Are you resident in the Channel Islands, Isle of Man or Gibraltar?
You must be resident in one of these locations to apply for a First Saver account.
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Do you already bank with us?
Please tell us if you already hold a NatWest International bank account.
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Do you use Online Banking?
If so, we'll pre-fill your application to save you time.
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Looks like you're ready to start your application.

At the next step we'll ask you to log in to online banking and start your application.

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Looks like you're ready to start your application

Just so you can have what you need to hand, here's some of the information we'll ask for:

  • Your sortcode & account number
  • Your personal details (name, date of birth etc.)
  • Your address & contact details
  • Your tax identification number & passport number
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Great, you're ready to start your application

Just so you can have what you need to hand, here's some of the information we'll ask for:

  • Your personal details (name, date of birth etc.)
  • Your address & contact details
  • Your tax identification number & passport number
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We're sorry...

We only accept applications from the Channel Islands, Isle of Man or Gibraltar.

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