Natwest Student Account Freebies Cash Incentives And Perks For Uk Students

Introduction

NatWest has established itself as a leading provider of student banking services in the UK, offering a combination of cash incentives, valuable freebies, and flexible overdraft facilities. The bank's student account has been recognized by financial experts and comparison websites as one of the most competitive options available to university students. This article examines the free benefits, promotional offers, and perks included with a NatWest student account, drawing exclusively from verified sources and official information provided by the bank and financial comparison platforms.

Cash Incentives and Welcome Offers

NatWest provides a tangible cash incentive for students opening a new student account. Upon account activation, new and existing customers receive an £85 welcome cash bonus. This direct financial benefit provides students with immediate funds that can be used for university-related expenses, textbooks, or general living costs during the initial months of study.

The cash incentive is available to both new customers and existing NatWest customers who open a student account, making it accessible to a broad range of students. This welcome bonus represents a straightforward financial benefit that doesn't require additional activation or usage requirements beyond opening the account.

Tastecard Benefits

One of the most significant freebies included with the NatWest student account is a four-year Tastecard membership. This dining discount card typically costs £79.99 per year, making the total value of this benefit approximately £319.96 over the four-year duration of most degree programs.

The Tastecard provides students with substantial savings at thousands of restaurants and coffee shops across the UK. The specific benefits include:

• 25 percent off the total bill at participating restaurants
• Two-for-one meal offers
• 50 percent off food purchases
• 25 percent off barista-made drinks at establishments including Black Sheep and Caffé Nero

These dining discounts can result in significant savings for students who frequently eat out or purchase beverages at coffee shops. The wide acceptance of the Tastecard across the UK makes it particularly valuable for students who may live in different cities during their studies or who enjoy exploring various dining establishments.

Alternative Free Perks

In addition to the standard Tastecard offering, NatWest provides students with the option to choose alternative free perks based on their individual needs and preferences. According to the available information, students can select from the following options:

• Amazon Prime Student membership
• National Express Coachcard
• Tastecard (the standard offering)

This flexibility allows students to choose the benefit that provides the most value to their specific circumstances. For example, a student who frequently travels by coach might prefer the National Express Coachcard, while one who makes regular online purchases might value the Amazon Prime membership more highly. The Tastecard remains the default option, providing broad-based dining and entertainment discounts.

Digital Banking Tools and Additional Features

Beyond the tangible freebies, NatWest offers several digital tools and features that enhance the banking experience for students. The bank's mobile application has been recognized for its user-friendly interface and modern design, which appeals to the tech-savvy student demographic.

Key digital features include:

• Budget tracking capabilities to help students manage their finances
• Easy money transfer functionality
• Access to the Housemate by NatWest tool, which facilitates splitting bills and managing shared expenses among students

These digital tools complement the physical benefits like the Tastecard and overdraft facilities, providing students with comprehensive banking solutions that address both their financial management and social needs.

Overdraft Facilities

While not strictly a "freebie" in the traditional sense, NatWest's interest-free overdraft facility represents a significant financial benefit for students. The bank offers one of the most generous overdraft limits among UK student accounts:

• First term of first year: £500 interest-free overdraft
• Subsequent years: up to £2,000 interest-free overdraft
• From year three onwards: up to £3,250 interest-free overdraft

This graduated approach to overdraft limits recognizes that students' financial needs increase as they progress through their studies. The interest-free nature of these overdrafts means that students can access additional funds without incurring interest charges, provided they stay within their approved limit.

Financial experts and comparison websites including Martin Lewis's MoneySavingExpert.com and Save the Student have highlighted NatWest's overdraft facilities as among the most generous available, particularly in the later years of study when students may face higher living costs.

Comparison with Other Student Accounts

When evaluating the freebies and benefits of the NatWest student account, it's helpful to compare them with offerings from other major UK banks. According to financial comparison sources, NatWest consistently ranks among the top providers of student banking services.

For instance:

• Santander offers a 16-25 railcard (providing 1/3 off train travel) and an overdraft of up to £1,500 for the first three years
• Nationwide provides £100 cash and £120 in Just Eat vouchers (distributed as £10 monthly vouchers)
• Barclays offers a £500 fee-free overdraft

While each bank has its own strengths, NatWest's combination of cash incentive, valuable Tastecard (or alternative perk), and generous overdraft facilities creates a competitive offering that addresses multiple aspects of student financial needs.

Eligibility and Application Process

To access the freebies and benefits of a NatWest student account, students must meet certain eligibility criteria and complete the application process. According to the available information:

• Students must have a confirmed university place in the UK
• Applicants will undergo a credit check to determine eligibility for the overdraft facility
• The process can take a couple of weeks, so students are advised to apply as soon as they receive their UCAS confirmation letter

International students should aim to choose their bank account before arriving in the UK or begin the application process online before departure. The application typically requires proof of identity and university acceptance, either in person at a branch or through the bank's digital channels.

Value Assessment of the Freebies

When assessing the total value of the freebies included with a NatWest student account, it's important to consider both the cash value of the benefits and their practical utility to students:

• The £85 cash incentive provides immediate, flexible funds
• The four-year Tastecard (worth approximately £319.96) offers ongoing savings on dining and entertainment
• The alternative perk options (Amazon Prime, National Express Coachcard) provide value tailored to individual needs
• The overdraft facilities offer interest-free borrowing that increases as studies progress

Financial experts caution that while free perks can be attractive, students should prioritize comparing overdraft facilities and overall account suitability. However, the NatWest offering balances both aspects effectively, providing substantial freebies alongside competitive overdraft terms.

Transition to Graduate Account

Another consideration for students is how their account will transition after graduation. NatWest offers a smooth progression from student to graduate and personal accounts, which can be beneficial for students planning to remain in the UK after completing their studies. This transition process helps maintain banking continuity and may preserve certain benefits as the student moves into the next phase of their financial life.

Conclusion

The NatWest student account provides a comprehensive package of freebies and benefits that address multiple aspects of student financial needs. The £85 cash incentive, four-year Tastecard (or alternative perk option), and generous interest-free overdraft facilities create a competitive offering that has been recognized by financial experts and comparison websites.

For students seeking a banking solution that combines immediate financial benefits with long-term flexibility, the NatWest student account represents a compelling option. The combination of cash incentives, valuable freebies, and progressive overdraft facilities addresses both the immediate and evolving financial needs of university students throughout their studies.

Sources

1. NatWest offering new student customers £85 cash and an interest-free overdraft of up to £3,250
2. Ranked: These student banks accounts have the best perks in 2025
3. How to open a student bank account in the UK
4. Top 10 Banks in the UK
5. Best Student Bank Account
6. UK student bank accounts: the best perks from railcards to cheap meals