NatWest launches debit card for children – London Business News

Prior to the mid-term break, NatWest announced the integration of Rooster Money into the NatWest family of youth products by renaming the offering as NatWest Rooster Money.

The prepaid debit card and children’s pocket money app will offer the NatWest Rooster card free for 12 months exclusively to NatWest Group’s 19 million customers, making NatWest unique among UK high streets in offering a prepaid debit card and pocket money app for kids.

The bank will continue to make the product available to customers of other banks and has lowered the price to £1.99 per month, ensuring that families across the UK continue to have access to confidence-boosting tools. children with money and prepare them for a brighter life. future.

The integration is part of NatWest’s ambition to help even more families take the steps of learning about money, preparing children to confidently take the reins of their own finances.

NatWest’s move marks the bank’s continued commitment to championing potential and helping people, families and businesses thrive – with a particular focus on young people emerging from the pandemic. NatWest has been supporting young people for decades with accounts ranging from First Saver to Student Banking, and its free financial education program, MoneySense, began over 25 years ago.

Simon Watson, Head of Youth Banking at NatWest Group, said: “We want NatWest to be the easiest and most useful bank for families and young people. We know that parents have limited options in the market when it comes to products that help them easily manage spending money and household chores. NatWest Rooster Money now makes it easy and free for parents and guardians who do business with us, and offers those who don’t a simple, cost-effective service that comes with the confidence of being backed by a bank.

“We are continually looking for ways to help people feel confident and empowered to manage their money, whether through MoneySense, our free financial education program for young people, or the Thrive program, co-created with Marcus Rashford We are committed to building young people’s confidence around money and championing their potential.

Will Carmichael, CEO of NatWest Rooster Money, added, “NatWest Rooster Money currently helps over 130,000 customers each month, empowering children’s independence and reassuring parents or guardians when it comes to giving children a head start with money. Being part of the NatWest family reinforces our ambition to make a real difference by helping us reach millions of families across the UK.