First Active

Who they are

In early August 2026, NatWest Group relaunched the First Active brand as a new, completely digital savings service in the United Kingdom. The name has genuine history behind it - First Active plc was originally an Irish bank and former building society which merged into Ulster Bank in late 2009. In 2004 it had been acquired by the Royal Bank of Scotland Group, later renamed NatWest Group. Now it is back, though in a very different form.

First Active operates as a trading name of National Westminster Bank plc and is part of NatWest Group. The digital-first proposition allows customers to open an account in minutes from £1. There are no branches - this is purely an online service aimed at savers who are comfortable managing their money on a screen.

Savings accounts

First Active currently offers one product: the Instant Access Savings Account. The rate is 4.05% variable, and you can start with as little as £1. That headline rate includes a fixed bonus for the first 12 months from opening - once that period ends, the underlying rate is lower, so it is worth diarising the anniversary and comparing again at that point. The rate is variable throughout, bonus included, so it can also move in response to Bank of England decisions.

Withdrawals are capped at £10,000 per transaction and £20,000 in any rolling 24 hours - worth knowing if you might need to move a large sum quickly.

FSCS protection - a key thing to check

The Financial Services Compensation Scheme protects up to £120,000 per person per banking licence, not per brand. First Active is a trading name of National Westminster Bank plc, so money held in a First Active savings account counts towards the same limit as money held with NatWest itself. Ulster Bank sits on that licence too. Royal Bank of Scotland, despite the shared parent, has its own licence and is protected separately.

If you already hold savings with NatWest or Ulster Bank, add those balances together with whatever you plan to put into First Active. If the combined total approaches or exceeds £120,000, you will want to spread the excess elsewhere.

Is it right for you?

First Active is a straightforward choice for easy-access savers who are happy to go fully digital and do not already hold large balances with NatWest or Ulster Bank. The account is simple to open, the minimum deposit is just £1, and the rate is competitive - but do keep an eye on when your 12-month bonus period ends, because the revert rate is considerably lower.

There are no switch offers available with First Active at present, so the decision rests entirely on whether the savings rate works for you right now.

As always, the live rates shown on this page are the most current figures - check them before you apply, as rates can and do change.