What you need to open a NatWest savings account

NatWest offers several savings accounts for different goals — fixed-rate bonds, easy-access savings, and cash ISAs that shelter interest from tax. To open one, you need to be at least 18 years old, a UK resident, and able to prove your identity and address. You can open most accounts online in about 10 minutes, though some require a visit to a branch or a phone call.

The documents you'll need depend on which account you choose and whether you're a new NatWest customer. If you already have a NatWest current account, the process is faster — you can open a linked savings account without re-verifying your details. If you're new to NatWest, you'll need a valid passport or UK photocard driving licence, plus proof of your current address (a recent utility bill, council tax letter, or bank statement dated within the last three months).

NatWest does not charge a monthly fee for most savings accounts. Interest rates vary by account type and change regularly, so check the current rate before you commit money. Some accounts have a minimum opening deposit (often £1), while others let you start with any amount.

Key Takeaways

  • You can open most NatWest savings accounts online without visiting a branch, as long as you have a valid ID and proof of address.
  • If you already have a NatWest current account, opening a savings account takes minutes because NatWest already has your details on file.
  • Different account types — fixed bonds, easy-access, and ISAs — have different interest rates and rules about when you can withdraw money.
  • NatWest publishes current interest rates on its website, and rates can change, so compare before opening if you're choosing between multiple accounts.

Opening a savings account online

The fastest route is NatWest's online application. Go to the NatWest website, find the savings account you want, and click "Open account" or "Apply now". You'll be asked to enter your name, date of birth, address, and contact details. NatWest will then ask you to verify your identity using either your passport or driving licence — you'll photograph both sides and upload them through the app or website.

Next, you'll prove your address by uploading a recent utility bill, council tax letter, or bank statement. NatWest checks these documents automatically in most cases, and you'll know within minutes whether you've passed. If the system cannot read your documents clearly, NatWest will ask you to resubmit or contact them by phone.

Once identity and address are confirmed, you'll choose how much to deposit into the new account (if anything) and review the account terms. NatWest will then set up the account and give you access immediately. You can start moving money in right away, usually by bank transfer from another account in your name.

Opening an account at a NatWest branch

If you prefer to open an account in person, visit your nearest NatWest branch with your passport or driving licence and proof of address. A staff member will walk you through the application, answer questions about which account suits your needs, and set up the account on the spot. This route takes about 20 to 30 minutes.

Branch opening hours vary by location. You can find your nearest branch and its hours on the NatWest website or by calling 0370 365 3000. Some branches are open on Saturdays; very few are open on Sundays. If you don't have a branch nearby or prefer not to travel, the online route is usually faster.

Opening an account by phone

You can also open a NatWest savings account by calling 0370 365 3000. A NatWest representative will take your details over the phone, ask you to confirm your identity, and set up the account. You'll still need to send proof of address by post or upload it online afterward, so this route is not faster than applying online — it's mainly useful if you have questions or prefer speaking to someone.

Phone lines are open Monday to Friday 8am to 8pm, Saturday 9am to 5pm, and Sunday 10am to 5pm. Wait times can be long during busy periods, especially early in the week.

Choosing between NatWest savings account types

NatWest's main savings products are easy-access accounts, fixed-rate bonds, and cash ISAs. An easy-access account lets you withdraw money whenever you want with no penalty, but the interest rate is usually lower than fixed bonds. A fixed-rate bond locks your money away for a set period (typically one to five years) in exchange for a higher interest rate; withdrawing early usually means losing some or all of the interest. A cash ISA works like an easy-access account but the interest you earn is not taxed, which saves money if you're a higher-rate taxpayer.

NatWest also offers savings accounts for children (Junior ISAs and savings accounts for under-18s) and specialist accounts like notice accounts, where you have to give 30 or 90 days' notice before withdrawing. Check the NatWest website to see current rates for each type, because rates change regularly and the best option depends on how long you can leave the money untouched and your tax situation.

What happens after you open the account

Once your account is open, NatWest will send you a welcome letter with your account number and sort code. If you opened online, you can access the account immediately through the NatWest app or website using your login details. If you opened by phone or in branch, you may need to set up online access separately, though NatWest usually does this automatically.

You can transfer money into the account from another bank account in your name using your account number and sort code. The first transfer usually takes one to two working days. After that, you can set up standing orders to move money in regularly, or transfer lump sums whenever you choose.

Interest is paid annually or monthly depending on the account type. NatWest will tell you the payment date when you open the account. You'll see the interest credited directly into your savings account on that date.

If your application is declined or delayed

NatWest may decline your application if identity or address verification fails, if you don't meet the residency requirement, or if there's a problem with your credit history. If this happens, NatWest will send you a letter explaining the reason. You can contact NatWest to ask for more detail or to reapply if you believe the decision was wrong.

Verification usually completes within minutes, but if NatWest cannot read your documents clearly, it may take a few days. If you don't hear back within a week, call 0370 365 3000 to check the status. Do not resubmit documents multiple times — this can slow the process. Instead, contact NatWest and ask what's needed.

Frequently Asked Questions

Can I open a NatWest savings account if I don't have a UK address?

No. NatWest requires you to be a UK resident with a UK address. If you're moving to the UK soon, you may be able to open an account once you have a UK address, even if you're not yet registered with the local council. Contact NatWest to discuss your situation.

How long does it take to open a NatWest savings account?

Online applications usually complete within 10 minutes if your documents are clear and you're a new customer. If you already have a NatWest current account, it takes about 5 minutes. Branch and phone applications take 20 to 30 minutes. Verification can take a few days if documents need to be checked manually.

Can I open a NatWest savings account without a passport or driving licence?

NatWest requires a valid passport or UK photocard driving licence for identity verification. If you don't have either, contact NatWest by phone to discuss alternative forms of ID. Some customers may be able to verify in person at a branch instead.

What's the difference between a NatWest easy-access account and a fixed bond?

An easy-access account lets you withdraw money anytime with no penalty, but pays lower interest. A fixed bond locks your money for a set term (one to five years) and pays higher interest, but withdrawing early usually costs you interest. Choose easy-access if you might need the money; choose fixed if you can leave it untouched.

Do I need a current account to open a NatWest savings account?

No. You can open a NatWest savings account without having a current account with them. However, if you already have a NatWest current account, the process is faster because NatWest already has your details verified.