Martin Lewis is one of the UK’s most trusted personal finance experts, known for his clear, consumer-focused advice. His statements often influence how people view banks, savings accounts, and financial security.
When he comments on a major institution like NatWest, it signals key issues that account holders should consider. Recently, Lewis highlighted concerns about low savings rates, rising scam risks, and branch closures, drawing attention from millions of customers.
Understanding these warnings and recommendations is crucial. This article explores what his statements mean for NatWest account holders and how they can take steps to protect and manage their money effectively.
Who Is Martin Lewis and Why Do His Statements Impact UK Banking Customers?
Martin Lewis is the founder of MoneySavingExpert and a widely respected personal finance journalist and broadcaster. Over the years, he has built a reputation for advocating on behalf of everyday consumers, pressing banks, regulators, and government bodies for greater transparency and fairness.
His influence is so significant that many banks and institutions, including NatWest, feel the impact of his advice almost immediately.
Whether it’s sparking nationwide conversations about poor savings rates or prompting customers to switch banks for better deals, Lewis’s commentary is known to drive real change.
His ability to simplify complex financial topics and expose misleading practices makes him a key figure in the banking landscape, particularly during uncertain economic times.
What Did Martin Lewis Say About NatWest in His Latest Statement?
In a recent statement, Martin Lewis placed NatWest alongside other high street banks in a warning directed at UK consumers. He raised concerns over the uncompetitive interest rates being offered on savings accounts, urging savers to be proactive in seeking better deals elsewhere.
His statement pointed out that millions of account holders across major banks, including NatWest, may be losing money in real terms due to low interest returns that fail to keep up with inflation.
These concerns come amid a broader cost-of-living crisis, making it more urgent than ever for individuals to review where they keep their savings.
This wasn’t an isolated warning, either. Lewis has consistently highlighted how some of the UK’s largest banks rely on customer apathy. By keeping savers in accounts with subpar returns, these banks benefit from inertia, while customers miss out on opportunities to grow their wealth more effectively.
How Are NatWest Savings Account Holders Affected by His Advice?
Martin Lewis’s concerns about NatWest primarily revolve around savings account interest rates and how they compare to those offered by more competitive institutions.
For many NatWest customers, especially those using legacy or easy-access savings accounts, the returns on their deposits are significantly below what’s available elsewhere.
Savings Account Rate Comparison (as of October 2025)
| Bank | Easy Access Rate | Fixed 1-Year Rate | Switching Bonus |
| NatWest | 1.90% | 4.00% | £200 |
| Competitive Bank A | 5.00% | 5.25% | None |
| Competitive Bank B | 4.80% | 5.10% | £100 |
This table illustrates how NatWest’s rates are often below market-leading offers, especially for easy-access accounts where many customers keep emergency savings.
Implications for Savers
For individuals holding substantial funds in low-interest accounts, the difference can be substantial over time. Lewis recommends that account holders do not rely on brand loyalty or convenience when it comes to savings. Instead, regular reviews and rate comparisons are critical.
Even NatWest’s own fixed-rate products, though improved recently, may not be enough to beat inflation. Customers are therefore encouraged to explore alternatives such as fixed-rate ISAs, building societies, or digital banks offering higher yields.
Is Switching to or From NatWest Still a Good Idea?
Switching bank accounts is a common tactic promoted by Lewis, especially when attractive incentives are on the table. NatWest has historically offered switching bonuses to attract new customers, but is it the right choice for everyone?
Impact of Frequent Switching on Credit Scores
One of the lesser-discussed risks of bank switching is the potential impact on your credit score. While switching once or twice is unlikely to cause concern, frequent switching over a short period may raise red flags with lenders, particularly when applying for loans or mortgages.
Martin Lewis acknowledges this and advises customers to balance the short-term gain of a bonus with long-term financial health. For those who plan to apply for credit soon, caution is advised.
Are Cash Incentives Worth It?
NatWest has offered switching bonuses in the range of £150–£200, often paid within a few weeks of the switch. While these incentives can be appealing, they usually come with conditions such as:
- Setting up direct debits
- Making a minimum deposit
- Completing the switch via the Current Account Switch Service (CASS)
For those willing to meet the criteria and not currently pursuing major credit applications, the bonus can be a worthwhile boost.
However, Lewis advises that the incentive should not be the sole reason to switch. Overall account features, fees, and interest rates matter just as much.
What Scam Warnings Did Martin Lewis Issue Involving NatWest?
Perhaps one of the most serious issues Lewis has addressed involves scams and fraud, where NatWest has been named, not as a perpetrator, but as a brand exploited by criminals.
Over recent years, scammers have increasingly used Martin Lewis’s name and image to promote fake investment opportunities, particularly involving cryptocurrencies.
In one high-profile case, a NatWest customer lost a significant amount of money after being lured into a scam that used deepfake technology to mimic Lewis promoting a bogus financial product.
These scams often include:
- Fake social media ads
- Phishing emails claiming to be from NatWest
- Investment sites using stolen branding
Victims are led to believe they are engaging with legitimate financial services, often transferring money to fraudulent accounts before realising the deception.
Lewis has called for stricter regulations on online platforms that host these ads and urged the public to remain extremely cautious.
How Has NatWest Responded to Martin Lewis’s Fraud and Scam Alerts?
In response to rising fraud threats and Martin Lewis’s public warnings, NatWest has made several efforts to protect its customers. These include:
- Enhanced fraud detection systems
- Proactive alerts for suspicious transactions
- Educational campaigns on how to identify scams
Scam Protection Features Comparison
| Feature | NatWest | Industry Standard |
| Real-time fraud alerts | Yes | Yes |
| Scam warning during transfers | Yes | Yes |
| Customer reimbursement policy | Case-by-case | Varies |
| In-app scam reporting tool | Yes | Limited availability |
While these steps are encouraging, Lewis maintains that consumer vigilance is still the first line of defence. Customers are urged to verify any communication they receive and avoid acting on unsolicited messages, no matter how legitimate they appear.
What Should Customers Do If Their Local NatWest Branch Is Closing?
Like many traditional banks, NatWest has been reducing its number of physical branches across the UK. This poses challenges, particularly for older customers or those in rural areas who prefer face-to-face banking.
Martin Lewis acknowledges the shift toward digital banking but warns that many customers may be left behind without sufficient support.
Options for Affected Customers:
- Mobile Banking Units: NatWest has deployed mobile branches to serve communities affected by closures.
- Post Office Partnerships: Basic banking services are available at many UK Post Office locations.
- Digital Education: The bank offers online tutorials and support for customers transitioning to mobile or internet banking.
The key message is not to wait until a branch closes. Instead, explore your alternatives now and prepare for a future where in-person banking may be less accessible.
What Are Martin Lewis’s Broader Tips for Staying Safe and Making the Most of Your Bank Account?
Beyond the specific case of NatWest, Martin Lewis offers broader guidance to help individuals maximise their money and avoid financial pitfalls.
Key Takeaways from Lewis’s Banking Advice:
- Review your accounts regularly: Don’t leave money sitting in low-interest accounts for years.
- Use comparison tools: Continuously search for better rates and products.
- Stay scam-aware: Never trust unsolicited emails or social media ads, even if they appear to feature well-known figures.
- Automate savings: Set up standing orders or use banking tools that round up purchases to save spare change.
Following these habits can lead to thousands in long-term gains and protect against common threats in the digital financial landscape.
What Does This All Mean for the Future of Banking With NatWest?
The broader implications of Martin Lewis’s warnings suggest that NatWest—and traditional banking in general, is undergoing a significant transformation. Interest rates, customer engagement, and fraud protection are all areas under scrutiny.
For account holders, the future is likely to be increasingly digital, requiring more personal responsibility and awareness. Banks may continue to offer incentives, but without customer action, opportunities for higher savings and better service can be easily missed.
Lewis’s message is clear: remain informed, proactive, and unafraid to make changes when your bank no longer meets your needs.
Conclusion
Martin Lewis’s recent statement about NatWest is more than just financial commentary, it’s a call to action for consumers to take greater control of their financial decisions. From low-interest rates and branch closures to serious scam threats, the challenges are real.
But with the right knowledge and proactive steps, NatWest customers can still safeguard and optimise their money.
Whether you stay with NatWest or explore other options, the key is to remain vigilant, well-informed, and ready to act in your own best interest.
Frequently Asked Questions
How can I verify if a message or call from NatWest is genuine?
Always contact NatWest directly using the number on their official website. Avoid clicking links or replying to unsolicited messages claiming to be from the bank.
What should I do if I’ve been scammed using Martin Lewis’s name?
Report the scam immediately to Action Fraud and your bank. Save all communication and avoid further contact with the scammer. You may also report the impersonation to MoneySavingExpert.
Are Martin Lewis’s recommendations safe to follow for all types of savers?
While his advice is generally sound, it’s important to consider your individual financial goals, risk tolerance, and current commitments before taking action.
How do I compare savings accounts from NatWest with others in the market?
Use official financial comparison tools and check regularly for updated rates. Ensure you’re comparing similar product types and terms.
What tools does MoneySavingExpert offer to check for scam alerts?
They provide regular scam updates, newsletters, and forums where users can report and learn about the latest fraud tactics.
Is it risky to switch banks frequently in the UK?
It can impact your credit score if done excessively. Always review your financial situation and consider whether the benefits outweigh the potential risks.
Where can I find official updates on NatWest’s banking changes?
Visit NatWest’s official website and register for customer updates via email or SMS to stay informed about new products, closures, and changes.
