NatWest has announced 'we're making some changes,' with a list of updates affecting customers with current, savings, and reward accounts. Most changes will commence on October 1, 2026.
In a new email sent to customers titled "Changes to your terms", NatWest confirmed: "We're making some changes to Your Current Account Terms and Your Savings Terms from 1st October 2026. If you have more than one account, this applies to all of them." It adds: "If you're happy with the changes, there’s nothing you need to do."
Account Closure Notice and Cashback Changes
The bank said new rules introduced earlier this year will be reflected in customers' Current Account and Savings Terms from October. It stated: "Notice before closing an account. New rules introduced in April 2026 mean that if we ever need to close your account, we’ll give you at least 90 days’ notice and explain why. In some limited situations, this may not apply."
NatWest has also confirmed it is ending its £1-a-month mobile app login cashback scheme for Reward and Premier account holders from October 1, 2026. This means a £12 reduction in annual rewards for account holders.
Martin Lewis' team at MoneySavingExpert (MSE) shared advice: "It means the net gain on these accounts will drop to £24 a year – so it's worth checking if you can earn more elsewhere." However, customers can still earn £4 a month on standard accounts (or £9 on Premier accounts) by paying out two or more Direct Debits of £2 or more each. The £2 monthly account fee will remain the same.
Other Changes to Current Account Terms from October 1
- Introducing limits on how many debit cards customers can order or replace.
- Updating terms for how electronic payments are credited.
- Updating terms to reflect how long cash deposits made at Post Office counters using a pay-in slip take to clear.
- Removing foreign transaction fees for Reward and Premier Reward debit cards.
- Removing reference to a charge card being closed if a Black Account is closed.
- Updating wording in the Your Information section to clarify purposes for sharing information within the NatWest group and with third parties.
Other Changes to Savings Account Terms from October 1
- You'll no longer be able to tell NatWest to close your account by post.
- Updating the list of reasons why NatWest may change your interest rates.
- NatWest will include CHAPS terms in Your Savings Terms.
NatWest adds: "It's a good idea to review your account from time to time to make sure it still meets your needs. If there’s anything you’d like to talk to us about, or if you’re thinking about closing or changing your account, we can help."
Customers can download a summary of what's changing (PDF), as well as the updated Your Current Account Terms (PDF) and Your Savings Terms (PDF).
