Natwest Online Instant Access Account 1 review

Published on 15 November 2010 by Raffick Marday

Natwest Online instant access account provides the unique opportunity for all account holders to manage their funds through online banking and telephone banking alternatives. Having promised to serve the best of present facilities, the bank management ensures that all customers registered under this particular account enjoy the right to earn a bonus interest rate of 1% for a twelve month time period. This rate in functional only during the first twelve moths span calculated from the day of direct reverse account initialization.

The direct reserve account is an easier way to store away surplus funds acquired from time to time. The interest earning scheme is directly proportionate to the account balance stored. The talked about bonus interest one can earn is generally acquired on a minimum account balance of over £1 million. For the first year since the opening of the account, one is entitled to receive both the bonus and the standard interests-these are calculated on a daily basis, but the payment is done after each month. The account holder is not limited to save a fixed balance, which means, that the account is exempt of both minimum and maximum balance limited.

Since it is termed as an instant access account, it religiously functions as one. All users are capable of shifting funds from and to their other existing Natwest account without much trouble. The account further allows all applicants to initiate an account under their name- which indicates that a new customer without a prior existing account can apply too. Applications are accepted on behalf of customers with business holdings capable of showing a turnover which is not more than £25 million. Even those who meet bank mandates with more than one proven signatory can apply for the account. In this case only one party enjoys the authority to access banking facilities through online and telephonic system.

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