Natwest First Reserve

ZBI

Hi everyone...

Natwest offer a savings account which requires NO CREDIT CHECK. It is called a FIRST RESERVE ACCOUNT and comes with a debit card and internet banking. It can therefore be used as a current account for those who do not require Direct Debits.

I was recently discharged from BR and my application for a Step Account was rejected (Natwest tend to be BR unfriendly and RBS were one of my creditors.) I managed to open one of these savings account without any problem.

Anyhow just thought I would mention it to all those who require an additional account or have been unable to get Casminders or Barlcays Basic Accounts.

Out of interest, has anybody been able to get a Step Account recently following discharge??

Ineedaname

The downside being that as a savings account you probably can't run DDs and SOs from it. NatWest are also not BR friendly so not a recommended account to open until discharge as it's likely it will get frozen at BR.

Useful information for a savings account post discharge though, thank you.

k2nga

I just had a look at there website and not a great interest rate @ 0.10%. Just wondering if anyone else had managed to get one of these accounts as i cant see anything on there site about credit checks not being done?

I have to be honest i am thinking of applying as i like the concept of there Saving Goal platform that they have been advertising on the telly.

Upsidedown77

Yes I have managed to get a Step account and 1st Reserve account, I made an appointment with the manager took in all details and they opened it for me,I just had to wait for paperwork to come through to sign as you can't do it in branch.Ok the intrest rate is not much but hey I don't mind about that for the little I will be saving, and also one of my creditors was RBS.

k2nga

Its says you can apply online so i wonder if it is worth giving it a try and see if they do credit check. Anyone else applied online?

iquit

Thanks for this info, I'm sure it'll help many.

now

Hi, many thanks for this, it says it is a debit card but alos says you withdraw the money from a cash machine? confused? is it a debit card or not?

dojoman

Quite a few of us on here have savings accounts with Yorkshire BS. These can be opened on line and whilst you are still BR, however they only come with a cash machine card.

now

We save with the Yorkshire building society and had no problems, the only downside is that you can't pay in cheques, I was going to phone the Natwest and ask for clarity on the debit card and if you can pay in cheques

k2nga

Yeah u have to agreee i cannot rate YBS enough they are excellent but i would like to have savings in a few different accounts i dont know why i am like that now but i just am.

Upsidedown77

My First reserve card is a debit card and yes you can pay cheques into this account.I believe the debit card is optional though.I was going to apply online but was told that going in person to the branch was much more beneficial and it was true the manager was really helpful and even personally phoned me the next day to reassure me that everything was going through.