Ahead of the half term holiday, NatWest has announced the integration of Rooster Money into the NatWest family of youth products as it rebrands the offering as NatWest Rooster Money.
The kids’ prepaid debit card and pocket money app will offer the NatWest Rooster Card free for 12 months exclusively to the NatWest Group’s 19 million customers, making NatWest unique among UK high streets in offering a kids’ prepaid debit card and pocket money app.
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 tools that build kids’ confidence with money and prepare them for brighter futures.
The integration is part of NatWest’s ambition to help even more families move through the milestones of learning about money – ultimately preparing kids to confidently take the reins of their own finances.
The move by NatWest marks a continuation of the bank’s commitment to championing potential and helping people, families and businesses to thrive – with a specific focus on young people as we come out of the pandemic. NatWest has supported young people for decades with accounts from First Saver through to Student banking, and its free financial education programme, MoneySense, started 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 pocket money and chores. NatWest Rooster Money now makes it easy and free for parents and carers who bank with us, and gives those who don’t a simple, cost-effective service that comes with the confidence of being backed by a bank.”
“We’re continually looking at ways we can help people feel confident and capable when managing their money – whether that’s through MoneySense, our free financial education programme for young people, or the Thrive programme, co-created with Marcus Rashford. We’re committed to helping boost young people’s confidence around money and champion their potential.”
Will Carmichael, CEO of NatWest Rooster Money, added: “NatWest Rooster Money currently helps more than 130,000 customers each month, enabling independence for kids and reassurance for parents or guardians when it comes to giving kids a head start with money. Being part of the NatWest family supercharges our ambition to make a real difference by helping us reach millions of families across the UK.”