NatWest Foreign Currency Account Review & Alternatives 2025

NatWest offers UK residents its Travel Account, which holds a balance in EUR and USD, for easy spending and withdrawals when you go on holiday. To open this account you must have an eligible NatWest GBP account. There are few specific fees to worry about with the NatWest Travel Account - but you may find you’re charged for currency conversion, or if you run short of EUR or USD for a purchase.

This guide walks through what you can do with a NatWest foreign currency account, and also touches on alternatives from specialist providers like Wise and Revolut, which may be more flexible.

Key points: NatWest foreign currency account

*Details correct at time of research - 2nd October 2025

Does NatWest have a multi-currency account?

NatWest offers a couple of different options for people who need to use and spend foreign currencies.

If you’re a UK resident you can open a NatWest Travel Account, which is an app based account that supports USD and EUR, ideal for travel spending.

NatWest also has its international service, which offers a Cash Management Account, based offshore in Jersey, Guernsey, Isle of Man or Gibraltar. This account is only available for non-domiciled UK residents, and requires you to deposit 25,000 GBP or more.

As the Cash Management Account is not suited to the needs of most UK residents, we’ve chosen to look at the NatWest Travel Account in this guide. Learn more about NatWest international services, on their dedicated website, if you’d prefer the offshore account option.

How does NatWest multi-currency account compare?

We’ll dive into the options for UK residents looking for a multi-currency account in more detail later. To give you a feel for how the NatWest Travel Account compares to other providers on the market, here’s a quick head to head comparison on some important features.

*Details correct at time of research - 2nd October 2025

What is NatWest foreign currency account?

The NatWest foreign currency account that’s available for most UK residents is called the NatWest Travel Account. This is an app based account which you can open as an add-on service once you also have a NatWest GBP current account.

The NatWest Travel Account holds USD and EUR. You can add money from your GBP account, and the NatWest exchange rate will apply when you convert to top up your currency balance. You can then spend with your NatWest card that’s linked to your GBP account.

There are no additional fees from NatWest to spend a currency you hold - but costs may apply when you convert. More on that later.

Best features

• Easy to open once you have a NatWest GBP account

• Supports USD and EUR which are helpful for leisure travel

• No need to order a new debit card

• No foreign transaction fee when you hold sufficient balance in the currency you’re spending

Supported currencies

The NatWest Travel Account supports a balance in US dollars and euros.

Pros and cons of NatWest foreign currency account

NatWest foreign currency account alternatives

Before you make a decision about the right way to manage your travel and international spending, check out some NatWest foreign currency account alternatives. Digital specialist providers like Wise and Revolut can often offer low cost, flexible accounts which cover many currencies for travel use and day to day spending.

Here’s a comparison of the NatWest foreign currency account alternatives we’ve selected for this guide - more coming up on each right after the table.

*Details correct at time of research - 2nd October 2025

Wise Account

The Wise Account offers great currency coverage, with 40+ currencies supported for holding and exchange.

You can also get a Wise card to spend in 150+ countries, with some monthly ATM use incurring no Wise fee.

There are no monthly fees for the Wise account, and no minimum balance to maintain. Use your card when you travel or shop online with international retailers, or use your account for day to day transactions and international payments.

• Broad currency support – Hold 40+ currencies

• Great exchange rates – Mid-market currency exchange with low fees from 0.48%

• Send and receive payments – Send to 140 countries and receive payments in 20+ currencies

Wise fees

*Details correct at time of research - 2nd October 2025

Revolut  Account

Revolut offers UK customers a choice of account types, which all come with a debit card, and support 25+ currencies for holding and exchange.

You could choose a plan as a personal customer with no monthly fees, or upgrade to a tier with ongoing costs which may get you more features and higher no fee transaction limits every month.

• Choose from different account types– brief explanation

• Hold and exchange 25+ currencies – brief explanation

• Get some no fee transactions before fair usage costs apply – brief explanation

Revolut  fees

*Details correct at time of research - 2nd October 2025

📚 More information: Revolut Review

What is the eligibility for a NatWest foreign currency account?

You can open a NatWest Travel Account if:

• You are over 18

• You live in the UK

• You already have an eligible NatWest current account

• You are registered for mobile banking

Eligible accounts include Select, Reward, Premier Select, Black, Student and Graduate.

This account is not available for business customers.

Who is it good for?

The NatWest Travel Account is good for people who already bank with NatWest and who travel regularly to the US or Eurozone. You’ll need to remember to top up your travel wallet with the currency you need before you spend to avoid the foreign transaction fee applied by NatWest - more on that later.

How to open a foreign currency account with NatWest

You can only open a NatWest Travel Account if you already have an eligible NatWest GBP account. If you have this already set up, you’ll see the Travel Account option in the NatWest app, and can simply tap ‘Apply Now’. If you don’t see the Travel Account in the NatWest app, you’re not eligible to apply at this point.

If you don’t have a NatWest GBP account, you can pick the one you prefer and then apply online or in the NatWest app. Here’s what you need to do:

• Find the account you want to open online or in app

• Tap ‘Open an account now’ and follow the prompts

• Confirm you are a new customer and enter your personal information

• Upload your proof of ID and address, and take a selfie

• Your account will be verified and then you can transact

What documents you'll need

To open your first NatWest GBP account you must provide proof of ID and address. This can be documents like these -

Proof of ID documents:

• Driver's licence (UK/EU/EEA)

• UK passport, foreign passport & visa or eVisa Share Code

• EU and EEA national identity card

Proof of address documents:

• Driver's licence

• UK utility bill (gas, electricity, water, home telephone)

• Bank/building society statement

• Council tax bill

NatWest Travel Account fees

There are no fees to open or maintain a NatWest Travel Account. However, a couple of important costs may apply when you convert, withdraw, or spend money:

• The exchange rate used when you top up your USD or EUR wallet might include a markup - a fee

• If you run out of USD or EUR your purchases will be deducted from your GBP account and foreign transaction fees of 2.75% may apply (waived for a Reward Silver, Reward Platinum, Premier Reward Black or Black Account holders)

• If you exceed the 200 USD/EUR withdrawal limit monthly, you may be charged a  foreign transaction fee of 2.75%

It’s also important to check if any other fees apply to your GBP account. This depends on the account you select - look out for monthly costs, and charges for ATM use, overdrafts and other services.

NatWest exchange rates

With the NatWest Travel Account you’ll need to top up your USD and EUR travel wallets from your linked NatWest GBP account. When you do this, the NatWest exchange rate will apply, which may include a markup.

A markup is a fee that’s been included in the exchange rate used for currency conversion. It can be hard to spot - but it can mean you get less foreign currency than you expect when you exchange your pounds to top up your travel wallet.

Look for the live NatWest exchange rate in the NatWest app, and compare it to the mid-market exchange rate. This is the rate used on wholesale markets, and so it makes a good benchmark to see if you’re getting a fair rate from your bank. If the NatWest rate and the mid-market rate are different this probably means a markup has been used.

Not all providers use a markup - Wise uses the mid-market rate and splits out the costs of currency conversion for transparency. This makes it easier to see exactly what you're paying for overseas spending.

How to use NatWest foreign currency account

You can use your NatWest foreign currency account when you travel and when you spend online with overseas retailers:

• Top up your balance in USD or EUR to set a travel budget before you head overseas

• Spend from your EUR/USD balance with no further NatWest fees to pay

• Shop online in the US and Eurozone and pay no foreign transaction fee when you have a balance in your travel wallet

• Make cash withdrawals to 200 EUR/USD monthly before paying NatWest fees

Is NatWest multi-currency account safe?

Yes. NatWest is a large, trusted and well liked bank which services millions of customers in the UK and beyond.

⭐ We have a dedicate guide on NatWest USD Account here, as well as NatWest International Money Transfers.

How to use NatWest foreign currency account abroad

You can use a NatWest foreign currency account abroad to spend or make withdrawals, using your debit card that’s linked to your GBP account with NatWest. Your purchases and withdrawals are deducted from your foreign currency balance as long as you have one, with no additional fee.

Remember that there’s a foreign transaction fee to pay if you run out of the currency you’re sending. This is usually 2.75%, but it’s waived if you have a Reward Silver, Reward Platinum, Premier Reward Black or Black Account.

There may also be fees of 2.75% to pay if you use all of your monthly ATM allowance of 200 USD or EUR in withdrawals.

Can I access my NatWest Travel Account overseas?

Yes. You can access my NatWest Travel Account overseas in the Natwest app, and you can spend as usual with your debit card which is linked to your NatWest GBP account.

NatWest Travel Account limits

Here are some important NatWest Travel Account limits to know about:

If you exceed the daily spending or monthly ATM withdrawal limit, the purchases and withdrawal costs will come from your GBP account. The fees which apply to your GBP account will also be applied - including a 2.75% foreign transaction fee on most account types.

Conclusion: Is NatWest Travel Account good?

The NatWest Travel Account can be a handy tool for existing NatWest customers who don’t want to order a new debit card for overseas spending in the US and Eurozone. The account only holds USD and EUR, and when you top up you’ll get the NatWest exchange rate which may include a fee. However, this does allow you to convert your GBP balance ahead of a trip, to set your travel budget.

If you’d prefer an account with more supported currencies, which may also offer more flexible services like low cost payments and mid-market rates, consider Wise. Alternative providers like Wise have account and card services which are easy to sign up for, and flexible for day to day and travel use.

FAQs

Can I open a NatWest Travel Account with foreign currency?

No. You can only pay into your NatWest Travel Account from your linked NatWest GBP account. The NatWest exchange rate applies, which may include a markup.

Can I deposit foreign currency into my NatWest account?

No. You can’t deposit foreign cash to your NatWest Travel Account. You’ll only be able to transfer in from your GBP account held with NatWest.

Does NatWest have foreign transaction fees?

NatWest has a 2.75% foreign transaction fee on some account types. If you have a EUR/USD balance in your NatWest Travel Account and spend in that currency, you avoid the foreign transaction fee. If you run short of foreign currency, you’ll pay whichever foreign transaction fee applies to your NatWest GBP account.