It is not a secret that students are always looking for different ways to save money and NatWest bank is made for those students. Life in other countries may be hard, especially for the young ones who are planning to study and do not have enough resources to take this lifestyle abroad.
In the UK there is a great opportunity for students to save money and find many discounts in selected stores. NatWest is the perfect solution for you if you are considering the idea of taking a career, obtaining a diploma, certificate or degree. It provides you the chance of saving money by discounts in some establishments.
Do you want to know more about NatWest? Keep reading!
NatWest used to offer an account specifically for international students in the United Kingdom. Like the NatWest student checking account, this account included recruitment incentives.
Unfortunately, that account is no longer available. But the good news is that you can still apply for a NatWest Select account, which is a great option in its own right.
For starters, this account comes with the option of an overdraft. However, it should be noted that unlike student bank accounts, this overdraft will charge interest, meaning you’ll end up paying back more than you borrow. Also, as with any overdraft, there is no guarantee that everyone who applies will be accepted.
Unlike the international student account that NatWest previously offered, the Select Account is free to open and use: there is no monthly fee to maintain the account. But we know that, as an international student, you’ll want to send and receive money from abroad as inexpensively as possible.
With NatWest’s Select Account, international transfer fees are very low, and when sending money abroad, you only pay if you need the money sent quickly.
How much are NatWest’s international transfer fees?
Send money abroad in all currencies (standard): free of charge.
Receive money from abroad in euros: free of charge.
Sending money abroad in all currencies (express): £15.
Receiving money from abroad in all other currencies: £1 for receiving less than £100 and £7 for amounts of £100 or more.
The only two Eligibility criteria they require are:
- ● Be 18 years of age or older.
- ● Be resident in the UK.
In conclusion, Select account is a nice option for international students planning to study in the UK, not only because of the fact it is a cheap option for sending and receiving money across borders, but also because there is the option to apply for the account online.
This means you can apply before you even leave your home country. That said, we strongly recommend that you take a look at the list of proof of identity that NatWest accepts, especially if you want to apply in person at a bank branch.
Many of the options are only available to people from the EU or EEA, so if you’re coming to the UK from another country, you’ll need to come prepared with the right documents.
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