Barclays Vs NatWest 2024 | Which UK Bank Is Better?

hey guys in today's video we're going to be comparing Barkley and Nat West two of the UK's largest banks and we're going to answer the question which one is better for you as a customer barley and NatWest are both well established names in the UK banking industry with a large and Rich history both banks have faced challenges and opportunities in the 21st century such as the global financial crisis and the digital transformation but how do they differ and compete with each other let's find out one of the most important factors to consider when choosing a bank is the range and quality of products and services they offer whether you need a current account a savings account a loan a mortgage a credit card or an investment you want to make sure that you get the best deal and the most suitable option for your needs and preferences in this section we will compare Barkley and netwest on their product offerings and see how they differ and compete with each other so let's start with current accounts both Banks offer a variety of current accounts for different purposes such as everyday banking student banking Premier Banking and business banking some of the features and benefits of these accounts include from Barkley's you get free cash withdrawals from over 1,500 branches and 55,000 ATMs in the UK you get access to online and Mobile Banking as well as telephone banking and in Branch Services they offer an overdraft facility with a15 buffer you get cash back rewards from selected retails when you shop with your debit card they have the Blue rewards scheme that pays you up to £7 a month for banking with Barkley's plus extra cash back on selected products and they have a range of insurance and protection products such as travel insurance home insurance and Mobile phone insurance with that wish you get free withdrawals from over 1,000 branches and 50,000 ATMs in the UK you get access to online and Mobile Banking as well as telephone banking and and in Branch Services they offer an overdraft facility with a £10 buffer they have a cashback plus scheme that pays you 1% cash back on your debit card spending at selected retailers they also have reward accounts that pay you 2% cash back on selected household bills plus extra benefits such as Travel Insurance Mobile phone insurance and Breakdown Cover and they have have a range of insurance protection products such as travel insurance home insurance and life insurance so as you can see both Banks offer similar features and benefits for their current accounts but there are some differences in the fees interest rates and rewards depending on your spending habits and preferences you may find One Bank more appealing than the other for example if you use your overdraft frequently you may prefer Barkley's on the other hand if you pay a lot of household bills you may prefer Nat West's reward account moving on to savings account both Banks offer a range of savings accounts for different goals such as instant access fixed term regular saver and Isa some of the features and benefits of these accounts include with Barkley as you get instant access savings account with no minimum deposit and no withdrawal restrictions paying up to 0.25% interest you get fixed term savings account with a minimum deposit of 500 and a fixed interest rate of up to 0.65% for 12 months they have a regular savings account with a minimum deposit of £5 and a maximum deposit of £250 per month paying a 1.5% interest for 12 months they have ISO accounts with no minimum deposit and no withdrawal restrictions paying up to 0. 2.5% interest taxfree and they have the smart investor service that allows you to invest in stocks funds bonds and more with low fees and expert guidance from NatWest you can find a instant access savings account with no minimum deposit and no withdrawal restrictions paying up to 0.2% interest they have a fixed term savings account with a minimum deposit of £1,000 and a fixed interest rate of up to 0.5% for 12 months their regular sa account has a minimum deposit of1 and a maximum deposit of £50 per month paying a 3.04% interest for 12 months their iser accounts have no minimum deposit and no withdrawal restrictions paying up to 0.2% interest taxfree and finally NatWest invest service that allows you to invest in funds with low fees and expert guidance so again both Banks offer similar features and benefits for their savings accounts but there are some differences in the interest rates and investment options depending on your savings goal you may find One Bank more attractive than the other for example if you want to save a large amount of money for a fixed period you may prefer Barkley's higher interest rate and a lower minimum deposit for the fixed term accounts on the other hand if you want to save a small amount of money regularly you may prefer NatWest higher interest rate and lower maximum deposit for the regular Savers account next let's take a look at loans both Banks offer a range of loans for different purposes such as personal loans car loans Home Improvement loans and debt cons consolidation loans some of the features and benefits of these loans include from Barclay we have the personal loans from 1,000 to 35,000 with an APR of 5.5 and a repayment term of 2 to 5 years for car loans they offer between 1,000 to 25,000 with an APR of 5.9 and a repayment term of 2 to 5 years you can get a home improvement loan from 1,000 to 35,000 with an APR of 5.5 and a repayment term of 2 to 5 years their debt consolidation loans range from £1,000 to to £335,000 with a representative AP of 5.5% and the repayment terms are 2 to 5 years they offer flexible repayment options such as overpayments payment holidays and early settlement and you can apply online and get an instant decision with funds transferred within a few hours when it comes to Nat West you can get a personal loan from £1,000 to £50,000 with an APR of 3.4% and repayment terms of 2 to 8 years car loans are available from £1,000 to £50,000 with an APR of £3 .4% and repayment terms of 2 to 8 years Home Improvement loans are available from 1,000 to 50,000 with an APR of 3.4% again with terms of 2 to 8 years and finally debt consolidation loans from 1,000 to 50,000 with an APR of 3.4 and repayment terms of 2 to 8 years again they have flexible repayment options such as overpayments payment holidays and early settlements and you can apply online for an instant decision and have the funds transferred within two working days as you can see both both Banks offer similar features and benefits for their loans but there are some differences in the loan amounts and the interest rates depending on your borrowing needs and preferences you may find One Bank more suitable than the other for example if you need a large loan amount you may prefer NatWest higher maximum limit of £50,000 on the other hand if you need a quick loan you may prefer Barkley's faster transfer time of a few hours so there you go we have seen what both banks have to offer and compar their strengths and weaknesses there is no clear winner or loser in this comparison the best bank for you depends on your personal needs and preferences I hope you found this video helpful thanks for watching