Fee free debit card purchases abroad for NatWest and Royal Bank of Scotland customers
NatWest and Royal Bank of Scotland are offering fee free debit card purchases for foreign transactions abroad for the summer from 3 May until 31 August 2018 for Reward, Premier and packaged account holders. Over 3 million customers are set to benefit from the initiative.
14 May 2018
Despite contactless card use increasing in the UK, Brits have been reluctant to use their debit card abroad. Only two in five British holidaymakers currently use their cards when on holiday, which results in most taking excess cash and four in five returning from holiday with left over foreign currency.*
Les Matheson, CEO for Personal and Business Banking said, “Rewarding our customers is important to us. I’m pleased to announce that we’ll be offering fee free debit card purchases abroad for Reward, Premier customers and all Packaged account customers this summer. Customers can be assured of using their debit card safely and securely for purchases abroad without having to worry about incurring extra fees or having to carry around large amounts of cash”.
Currently customers pay a 2.75% fee (£1 minimum fee) on each debit card transaction when purchasing goods abroad.
Customers with the following accounts: Select Silver, Select Black, Select Platinum, Reward, Reward Silver, Reward Platinum, Reward Black & Premier customers, will not pay for foreign transactions made on their debit card purchased abroad from 3 May until 31 August 2018.
Some NatWest and Royal Bank of Scotland packaged accounts also come with either Worldwide or European Travel Insurance and access to airport lounges. The NatWest Reward accounts pay 2% cashback on household bills.**
*Figures on spending abroad taken from the Visa Global Travel Intentions Study 2017.
** Customers can earn 2% back in Rewards on 7 types of household bills paid by direct debit. Reward terms & conditions apply
This information is for media use only and is not a financial promotion.
Customers with Select Silver, Select Black, Select Platinum, Select Reward, Reward Silver, Reward Platinum, Reward Black & Premier customers on our Select Account, will not pay fees for foreign transactions made on their debit card purchased abroad from 3 May until 31 August 2018.
Customers can let the bank know they’re travelling abroad through their mobile app, online banking, over the telephone, or in branch. Letting the bank know means their debit card transactions are less likely to be flagged as suspicious or blocked while they are abroad.
NatWest has been named the ‘Best Banking App’ at the British Bank Awards 2018, run by Smart Money People.