NatWest new update for millions of members May 13 | Personal Finance | Finance
NatWest has shared a new update for its millions of customers, which the bank says ‘customers can enjoy’. The news, announced today (May 13), will likely be of interest to people who already bank with NatWest and potentially to new customers keen to boost their savings in a flexible way.
As of 2025-2026, NatWest Group serves more than 20 million customers in the UK and around the world, operating as a leading retail, commercial, and private banking organisation. The group includes well-known brands such as NatWest, Royal Bank of Scotland, and Ulster Bank.
On Wednesday, NatWest announced that it has launched a new Defined Access Saver in a fresh update on its website. The new account gives customers a flexible way to save while being rewarded for limiting their withdrawals.
A statement on the NatWest website adds: “Customers can enjoy flexibility while being rewarded with higher interest rate. Up to three withdrawals can be made during a calendar year with no impact on the higher interest rate. The account will reset to zero withdrawals at the start of the new year.”
The savings offering is designed for people who want the freedom of instant access but with the benefit of a higher interest rate for keeping withdrawals to a minimum. Customers can make up to three withdrawals a year while continuing to benefit from an interest rate of 2.50% AER.
Des McDaid, Managing Director of Everyday Banking at NatWest, said: “Supporting customers in building a savings habit is about being responsive to their needs, and giving them choices about how to feel confident and in control of their money. The Defined Access Saver is designed to offer an enhanced rate and flexible access when customers need it.”
In research undertaken by NatWest ahead of launching the product, around half of respondents (45%) indicated that they withdraw money from instant accounts rarely or annually, suggesting that a limited withdrawal product could be appropriate for them. Additionally, 83% of respondents said they would value a savings account that offers a higher interest rate if customers make fewer withdrawals over a set period.
The Defined Access Saver can be opened with no minimum deposit, allowing a savings journey to begin with any amount, which can be topped up by the customer at any time – helping maintain ease and flexibility in how customers manage their money.
Applications can be made online by visiting here or via the NatWest mobile app. The account is available to both new and existing NatWest customers.
