Reward

As well as earning Rewards for having 2 Direct Debits at least £2 each (like your phone bill), you can earn even more Rewards at our partner retailers, like Caffe Nero. You can earn from 1% back on your purchases. 

Your Rewards balance can grow quickly, they're easy to earn and easy to exchange. Redeem Rewards as money back into your current account, trade them up for eGift cards, or donate them to charity.

This account offers an overdraft facility (subject to eligibility). You can check if you're likely to be accepted for an overdraft using our eligibility tool.

There are two different types of overdraft:

• An arranged overdraft, which allows you to go overdrawn up to an agreed limit. This is the type of overdraft you could apply for here.
• An unarranged overdraft. This is when you spend more money than you have in your current account without already having an arranged overdraft, or when you exceed your current arranged overdraft limit

We charge interest on both types of overdraft. Going in to an unarranged overdraft limit can lead to payments being rejected. 

How much does my overdraft cost in pounds and pence?

As an example, the interest cost of using a £500 arranged overdraft is: 

This is a specific illustrative example representing the interest cost of using a £500 arranged overdraft over periods of 7, 30 and 60 days.

Looking to understand the costs of an overdraft of more or less than £500 over different periods of time? Use our handy cost calculator.

How does our overdraft compare?

A good way to compare the costs of an overdraft is by using the APR, which shows the cost of borrowing over a year.

Representative Example: Effective Annual Rate: 39.49% EAR (variable). Representative APR: 39.49% APR (variable). Assumed credit limit: £1,200.

More about Overdrafts.

Offer available to new or existing customers who do not hold a Royal Bank current account or savings account as of 18 November 2025.

Switch your current account held elsewhere into an eligible account using the Current Account Switch Service by 06 January and you could unlock our Limited Edition Saver account which offers fixed bonus rates on balances over £50,000.

Switch to us

• Apply for an eligible Select or Reward current account and switch your bank account to us using the Current Account Switch Service by 06 January.
• Your switch to us must be completed by 21 January 2026.

Switch is complete: wait to receive the offer email from us

• Once your switch to us is complete, we'll send you an email with a link to open a Limited Edition Saver account. This will arrive between 02 December 2025 and 21 January 2026.
• You’ll have until 23 January 2026 to apply for a Limited Edition Saver via our mobile app.

You’re all set

• Once you've opened your Limited Edition Saver and funded your account, you'll immediately start benefiting from the interest rates.

Specific account eligibility criteria & conditions apply. Monthly account fees may apply. Offer T&Cs and restrictions apply. Offer can be withdrawn at any time due to limited availability. If you previously held a Royal Bank current account or savings account, you may still qualify, provided you did not hold one as of 18 November 2025. You are not eligible for this offer if you're switching a current account from NatWest Group (NatWest or Ulster Bank NI). Joint accounts are not eligible for this offer.

Third Party Permissions

If you have given permissions to Third Party Providers to make payments on your behalf, or to access your financial data, access to these services won’t be transferred automatically to your new account as part of the Current Account Switch Service.

Before you close your old account, check whether you have any Third Party Provider permissions set up and if so, who with.

Once your new account is open you can give your permission to the Third Party Provider to access your new account by providing them with your new account details. You will need to contact the Third Party Provider directly yourself to set this up.

If you are unsure as to whether we will support the Third Party Provider permissions on your account, you can contact us for further information and support.

Please check our account terms and conditions for more information about Third Party Providers.

Switch & Save with Royal Bank and benefit from a 12 month fixed bonus on balances between £50,000 and £3,000,000 with full access to your funds anytime.

Interest rates

AER / Gross p.a. (variable)
Interest paid monthly.

• 4.00% / 3.93%  - Balances between £100k - £3m (includes 2.25% / 2.23% (fixed) 12 month bonus).
• 3.25% / 3.20% - Balances between £50k - £99,999 (includes 1.50% / 1.49% (fixed) 12 month bonus).
• 1.06% / 1.05% on balances up to £49,999.

It's important for you to understand how we use and share your information. Please read this short summary before you continue with your application.

As part of the checks that we will complete to verify your identity, we’ll take an image of your face so that it can be compared with your photo ID and this biometric data is captured.