NatWest Everyday bank account

Cryingemoji

Hi all

Is this type of account a current account?

I've separated from my husband and need to open my own new account.

Thank you.

Archerychick

Yes it says Everyday Current Account on the website - they also call it the select account fyi 

Cryingemoji

Archerychick said:

Yes it says Everyday Current Account on the website - they also call it the select account fyi 

Thank you.  

I was a bit confused because it refers to itself as the 'basic everyday' and I've been told not to get a basic account, but a current account.

Gandalf644

Although Natwest do use the word 'basic' in their blurb for the everyday account (also called the Select Account) it is actually their free standard  current account.

Natwest's  'Basic Account' (for people with poor credit etc) is their Foundation Account.

https://www.natwest.com/current-accounts.html

Section62

Cryingemoji said:

Is this type of account a current account?

The Natwest Everyday account is fine, so long as your joint account isn't with Natwest, Royal Bank of Scotland, or Ulster Bank (or any of the other NatWest group banks).

friolento

There is nothing wrong with a basic account, as it is simply a current account which doesn't let you go overdrawn.

If you want to get an overdraft, be aware that overdrafts are one of the most expensive way of borrowing money.

Can I also ask why you are considering Natwest? If it is the bank you had/have a joint account with your husband, it might be a better idea to choose a different bank, such as Nationwide or First Direct.

https://www.moneysavingexpert.com/banking/compare-best-bank-accounts/#7tips

Section62

friolento said:

There is nothing wrong with a basic account, as it is simply a current account which doesn't let you go overdrawn.

The OP's other thread explains the background why they need a new current account and why a Basic account isn't right for them.

https://forums.moneysavingexpert.com/discussion/6510067/ex-removing-his-wages#latest

Also worth noting that in common with some of the other banks, NatWest don't allow direct applications for their Foundation (Basic) account - it is only if you don't meet their eligibility for the Everyday (Standard) account that they might offer the 'Foundation' one instead.

Cryingemoji

Thanks everyone.

Just thinking of NatWest as family are with them and have recommended them.

I'm not currently with NatWest or any of their subsidiaries.

friolento

If you require an overdraft, you'd do better with a Nationwide or a First Direct account than a Natwest one, assuming neither of those is where your joint account is

jameseonline

It's their basic current account, in other words a current account that doesn't have a monthly fee for using it.

I know it as a Select Account as I've had mine for a long time, I'm assuming this is the new name for it and eventually mine will get renamed to this.

WillPS

jameseonline said:

It's their basic current account, in other words a current account that doesn't have a monthly fee for using it.

I know it as a Select Account as I've had mine for a long time, I'm assuming this is the new name for it and eventually mine will get renamed to this.

'Basic Current Account' has a more specific meaning than just being fee free:
https://www.moneysavingexpert.com/banking/basic-bank-accounts/

Natwest's 'Basic Current Account' is their Foundation offering:
https://www.natwest.com/current-accounts/foundation_account.html