NatWest has launched a welcome bonus of £100 for those heading to university who open a student current account.

This bribe gets paid quickly, with the bonus hitting the account within 10 days of opening.

By comparison NatWest is currently paying £200 for a full switch to its regular account, which is paid within 30 days of qualifying.

Perks of student accounts often include free Railcards or Tastecards that save you money on the cost of travel and days out. 

Another big draw is usually the fact that you can apply for an interest-free overdraft.

This can be helpful in emergencies, but it's important to remember you're borrowing money that eventually needs to be paid back. 

Student bank accounts usually transition to graduate bank accounts after university, which reduce the interest-free overdraft limit over several years until it reaches zero. 

If you don't manage to reduce the balance to the new limits in time, you'll be hit with hefty interest charges. 

NatWest offers an overdraft of up to £2,000 in the first year of university, rising to £3,250 in year three.

The graduate account keeps the £3,250 limit in its first year, then it falls to £2,250 in year two and £1,250 in year three.

How does NatWest's student account compare with others available – and what was on offer last year?

NatWest has launched its deal first – should you wait to sign up?

A cash bonus is a common welcome reward for students signing up to an account.

NatWest has boosted its bribe from last year, when it offered £85.

Meanwhile Nationwide, Lloyds, Bank of Scotland and Halifax all offered £100 to join in 2025 – and they sweetened the deal by throwing in takeaway vouchers too.

Nationwide's deal was the most valuable, offering £100 cashback, 12 months of Just Eat vouchers worth £120, plus a £40 referral reward for signing up two friends.

Being part of the same banking group, Lloyds, the Bank of Scotland and Halifax all offered £100 cashback and £90 in Deliveroo vouchers.

This means that while NatWest's 2026 deal is attractive, it could be worth waiting to see whether the other banks offer a better deal.

As things stand, these are the best two student accounts for perks:

Just two accounts come with a money-saving card

Only NatWest and Santander are bundling a free money-saving card into their student accounts at the moment.

NatWest is offering a free four-year Tastecard alongside its £100 welcome bonus.

A Tastecard gives you two for one meals or 25 per cent off at certain restaurants, plus discounts on cinema tickets and other attractions.

The cost of a regular Tastecard over four years is £320, so a free one could represent a good deal for students.

Meanwhile Santander is offering a free four-year Railcard, which cuts the price of rail fares by a third.

The cost of a Railcard over four years is £140, so this is another decent saving.

Look beyond the normal cost of the card when deciding which one to plump for however.

Consider which you'll use more and therefore will save you the most money. 

You can check which restaurants are available on Tastecard before signing up, while you should look at how much the Railcard will save you on any regular routes you expect to travel.