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First Saver
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First Saver account

Helping children get into the savings habit

If you’re aged 18 years or over and hold a NatWest International current account, you can open an account in trust for a child under 16. All parties must be resident in Jersey, Guernsey, Isle of Man or Gibraltar.

On this page

Why choose First Saver Open in new window

What is the interest rate? Open in new window

How much could I earn? Open in new window

Managing your account Open in new window

Can I withdraw money? Open in new window

Additional information Open in new window

Apply for a First Saver account Open in new window

Why choose a First Saver account?

Open a children’s saving account.

Free, instant access children’s saving account held in trust
Easily managed in your app alongside other accounts
Top up your savings with Rounds Ups

Information Message

Round Ups is available to customers with an eligible current account, instant access savings account and the mobile app. Round Ups can only be made on debit card and contactless payments in Sterling.

Summary Box

Account name: First Saver account

What is the interest rate?

The interest you earn will depend on the amount you have saved over the course of the year. Interest rates on our First Saver accounts are variable and subject to change.

Balance

£1+

AER p.a. (variable)

2.22%

Gross p.a. (variable)

2.20%

Interest is calculated daily and paid quarterly on the first business day in January, April, July and October and at account closure. You’ll be able to see and access the interest in your account on the following day.

Definitions explained

Can NatWest International change the interest rate?

Yes, the rate is variable. We can hange rates for any of the reasons set out in section 10.3 of the Personal Banking Account Terms and Fees such as responding to a change in the Bank of England’s base rate.

If rates are going down, we’ll give you at least 60 days’ notice. If rates are going up, we’ll tell you before the change or at the earliest opportunity afterwards. For more details, please read section 10.4 of the Personal Banking Account Terms and Fees.

What would the estimated balance be after 12 months based on £1,000 deposit?

Initial deposit amount

£1,000

Balance after 12 months

£1,022.18

Interest earned

£22.18

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 the interest rate; and any interest earned stays in the account.

How do I open and manage my account?

To apply for this account

If you’re aged 18 years or over and hold a NatWest International current account, you can open an account in trust for a child under 16.
All parties must be resident in Jersey, Guernsey, Isle of Man or Gibraltar.

How to open your account

You can open your account online.
We will need an email address and mobile number to open your account. You can update them in online banking.
No minimum deposit is required to open the account and no minimum deposit needs to be made on a regular basis.
There is no maximum balance limit.

Managing your account

For an account held in trust, only the adult can give instructions on the account.
You can pay money in by transfer from a current account or savings account in your name held with us or held with another bank (online, by telephone or on the mobile app).
There are daily limits on the amount you can transfer from your account online, by telephone or mobile banking.
You can check our current daily limits or contact telephone banking.
Only you, the adult, can give us instructions on the account, not the child.
You can use Round Ups with First Saver.

Can I withdraw money?

Yes, First Saver is an instant access savings account so you can withdraw your money at any time without giving notice.

You can withdraw money in branch, or transfer to any other account based in Jersey, Guernsey, Isle of Man, Gibraltar or in the UK (online, be telephone or on the mobile app).

There are daily limits on the amount you can transfer from your account online, by telephone or mobile banking. The current daily limits and how to withdraw more than them can be found in our support centre or by contacting telephone banking.

Additional information

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).

Can I open a savings account for my grandchild?

Yes, you can open a First Saver for your grandchild as long as you’re 18 or over and you're opening the account in trust for a baby or child who is under 16 years old. Both you and the child need to reside in Jersey, Guernsey, Isle of Man or Gibraltar to apply and you must hold a NatWest International current account to open the account.

Is this the best rate for kid’s savings accounts?

Interest rates change from time to time. That means you might need to shop around to find the best rate on a child savings account. However, other factors may be worth exploring too, such as potential withdrawal limits or access restrictions.

How do I pay in money to my First Saver account?

When putting money into your newly opened savings account, the three methods of paying into your First Saver account are:

Electronic transfers
Cash
Cheques

You can pay money into your account using our mobile app or online banking if you have them, or you can call us or visit us in branch. You can transfer between two of your own accounts as many times you like per day.

Can I use mobile banking with this account?

Yes, you can manage your First Saver account using the mobile app and you can open a kids account with just a £1 deposit.

Can the Frist Saver Account (held in trust) be transferred into the child's name so they can manage the account themselves?

The account can be transferred into the child's name from the age of 7 at the request of the adult trustee. This will remove the adult's name from the account and only the child can give instructions on the account.

How to apply

Before you apply for a First Saver account, please review our eligibility, important information and details on how we use your information so you're sure it's the right account for you.

You can open your account on our mobile app or online. If you need help with your account application, due to a health condition or impairment, please call us or visit us in branch, we’ll be happy to help.

Who is eligible to apply?

You can apply for a First Saver account if:

you’re aged 18 or over
you hold a NatWest International current account
and are opening an account in trust for a child aged up to 16 years.

All parties must be resident in Jersey, Guernsey, Isle of Man or Gibraltar.

Please review our important information

If you continue to apply, 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 email you when your statements are ready to view in online banking.

Personal Banking Account Terms and Fees

The NatWest International Personal Banking Account Terms and Fees booklet includes details of general terms, account specific terms and account fees.

Personal Banking Account Terms and Fees (PDF, 288 KB)

Savings Account Rates including Information Sheets

Our Savings Account Rates booklet Includes Information Sheets for:

First Saver account
Instant Saver account
Premium Saver account
Savings Builder account

Savings Account Rates including Information Sheets (PDF, 184 KB)

Depositor Compensation Schemes

Under the scheme(s) customers are entitled to make only one claim per licensed entity regardless of the number of brands or trading names contained within that licensed entity and customers are entitled to make one claim only per licensed entity in the jurisdiction where the deposits are held.

Therefore as NatWest International brand is operated by RBS International it is not licensed in its own right. A person with a deposit in NatWest International and a deposit in RBS International would thus only be entitled to make one claim.

Jersey Banking Depositor Compensation Scheme

NatWest International is a participant in the Jersey Bank Depositors Compensation Scheme. The Scheme offers protection for eligible deposits of up to £50,000. The maximum total amount of compensation is capped at £100,000,000 in any 5 year period.

Full details of the Scheme and banking groups covered are available on the Government of Jersey website www.gov.je/dcs or on request.

Guernsey Banking Deposit Compensation Scheme

NatWest International is a participant in the Guernsey Banking Deposit Compensation Scheme. The scheme offers protection for ‘qualifying deposits’ up to £50,000, subject to certain limitations. The maximum total amount of compensation is capped at £100,000,000 in any 5 year period.

Details are available from: Website www.dcs.gg. Telephone: +44 (0)1481 722756. Post: P.O. Box 380, St Peter Port, GY1 3FY.

Deposits made in a Guernsey Branch will not be covered by any equivalent scheme in any jurisdiction outside of the Bailiwick of Guernsey.

Isle of Man Depositors’ Compensation Scheme

NatWest International is a member of the Isle of Man Depositors’ Compensation Scheme (DCS) as set out in the Depositors Compensation Scheme Regulations 2010.

To understand your eligibility under the scheme you may wish to visit the Isle of Man Financial Services Authority website.

Gibraltar Deposit Guarantee Scheme

The Royal Bank of Scotland International Limited trading as NatWest International is covered by the Gibraltar Deposit Guarantee Scheme (‘GDGS’). The GDGS can pay compensation to depositors if a credit institution is unable to meet its financial obligations. Ordinarily, most depositors – including individuals, corporations and small businesses – can claim back up to EUR 100,000 of their deposits (or EUR 100,000 for each eligible account holder if it’s a joint account). However, there are important exclusions which apply to certain depositors, which are set out on the website of the GDGS.

For further information about the compensation provided by the GDGS refer to: www.gdgb.gi.

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 help you apply for a First Saver account, we'll need to ask a few questions.

Continue

Do you already have a current account with us?

Only existing current account holders are eligible to apply for a First saver account.

Please choose an option below to continue

Yes

Where do you currently reside?

Please choose an option below to continue

Jersey

Guernsey

Isle of Man

Gibraltar

Somewhere else

Are you using a mobile device or a computer?

Please choose an option below to continue

I'm using a mobile phone or tablet

I'm on a desktop PC or laptop

Start your application now

Get your online application started by clicking 'Start application' below.

We’ll ask you to upload some documents as part of your application. This is important, as it helps us check you are who you say you are. Our ID partner Mitek will then complete all the checks for us.

The full name you put on this form must exactly match the one on the photo ID you'll use later in the application to apply. Without your ID to hand, your application can't be completed.

We usually ask for:

- Photo ID, such as a Drivers licence or Passport.

- A short video or selfie to compare with your photo ID.

- Bank e-statements or utility e-bill (these must be in a PDF format)

We'll contact you by phone or email within two working days.

Keep an eye on your inbox, watch out for our emails, and check your junk folder just in case.

To start your application

This must be completed using a mobile device (phone or tablet)

The full name you put on this form must exactly match the one on the photo ID you'll use later in the application. Without your ID to hand, your application can't be completed.

We usually ask for:

- Photo ID, such as a Drivers licence or Passport.

- A short video or selfie to compare with your photo ID.

- Bank e-statements or utility e-bill (these must be in PDF format)

We'll contact you by phone or email within two working days.

Keep an eye on your inbox, watch out for our emails, and check your junk folder just in case.

To start, scan this QR code.

To scan a QR code, if you are on an iOS Device then open the camera app, point it at the QR code and tap on the prompt to: Open “natwestinternational.com”. If on an Android device: Open the camera app, point it at the QR code and follow the onscreen instructions to start the application. If you don’t see a prompt to navigate to natwestinternational.com, you may need to download a QR code scanning app from the Google Play store or the App Store.

Are you using a mobile device or a computer?

Please choose an option below to continue

I'm using a mobile phone or tablet

I'm on a desktop PC or laptop

Start your application

Get your online application started by clicking 'Start application' below.

The full name you put on this form must exactly match the one on the photo ID you'll use later in the application to apply. Without your ID to hand, your application can't be completed.

We usually ask for:

- Photo ID, such as a Drivers licence or Passport.

- A short video or selfie to compare with your photo ID.

- Bank e-statements or utility e-bill (these must be in a PDF format)

We'll contact you by phone or email within two working days.

Keep an eye on your inbox watch out for our emails, and check your junk folder just in case.

To start your application

This must be completed using a mobile device (phone or tablet)

The full name you put on this form must exactly match the one on the photo ID you'll use. Without your ID to hand, your application can't be completed.

We usually ask for:

- Photo ID, such as a Drivers licence or Passport.

- A short video or selfie to compare with your photo ID.

- Bank e-statements or utility e-bill (these must be in PDF format)

We'll contact you by phone or email within two working days.

Keep an eye on your inbox, watch out for our emails, and check your junk folder just in case.

To start, scan this QR code.

Are you using a mobile device or a computer?

Please choose an option below to continue

I'm using a mobile phone or tablet

I'm on a desktop PC or laptop

Start your application now

Get your online application started by clicking 'Start application' below.

The full name you put on this form must exactly match the one on the photo ID you'll use later in the application to apply. Without your ID to hand, your application can't be completed.

We usually ask for:

- Photo ID, such as a Drivers licence or Passport.

- A short video or selfie to compare with your photo ID.

- Bank e-statements or utility e-bill (these must be in a PDF format)

We'll contact you by phone or email within two working days.

Keep an eye on your inbox, watch out for our emails, and check your junk folder just in case.

To start your application

This must be completed using a mobile device (phone or tablet)

The full name you put on this form must exactly match the one on the photo ID you'll use. Without your ID to hand, your application can't be completed.

We usually ask for:

- Photo ID, such as a Drivers licence or Passport.

- A short video or selfie to compare with your photo ID.

- Bank e-statements or utility e-bill (these must be in PDF format)

We'll contact you by phone or email within two working days.

Keep an eye on your inbox, watch out for our emails, and check your junk folder just in case.

To start, scan this QR code.

Are you using a mobile device or a computer?

Please choose an option below to continue

I'm using a mobile phone or tablet

I'm on a desktop PC or laptop

Start your application now

Get your online application started by clicking 'Start application' below.

The full name you put on this form must exactly match the one on the photo ID you'll use later in the application to apply. Without your ID to hand, your application can't be completed.

We usually ask for:

- Photo ID, such as a Drivers licence or Passport.

- A short video or selfie to compare with your photo ID.

- Bank e-statements or utility e-bill (these must be in a PDF format)

We'll contact you by phone or email within two working days.

Keep an eye on your inbox, watch out for our emails, and check your junk folder just in case.

To start your application

This must be completed using a mobile device (phone or tablet)

The full name you put on this form must exactly match the one on the photo ID you'll use. Without your ID to hand, your application can't be completed.

We usually ask for:

- Photo ID, such as a Drivers licence or Passport.

- A short video or selfie to compare with your photo ID.

- Bank e-statements or utility e-bill (these must be in PDF format)

We'll contact you by phone or email within two working days.

Keep an eye on your inbox, watch out for our emails, and check your junk folder just in case.

To start, scan this QR code.

Applying for an account with us

This account is currently only available to applicants located in Jersey, Guernsey, Isle of Man or Gibraltar.

Our International Personal Banking service is available to customers that meet our minimum age, residency, balance and/or deposit requirements.

Find out more about International Personal Banking

Applying for a First Saver account with us

We currently only accept applications from existing NatWest International current account customers.

You can view our current account range and apply online today.