NatWest Premier are offering eligible Team GB athletes, who competed in the Paris 2024 Olympic Games, the opportunity to become a customer, waiving the usual eligibility criteria for the next four years.
Being part of the service will allow athletes to have access to a 24-hour telephone service 7 days a week or access to Premier banking managers via phone or app.
By being part of Premier, will offer athletes access to experts specialising in financial management, tax and mortgaging and helping them to plan for the long-term.
Full-time athletes can face unique financial challenges that many everyday people do not, such as having an irregular monthly income, starting their sporting careers when they were young and with limited financial knowledge, getting on the housing ladder and embarking on new careers after sport.
Laura Newman, head of financial planning at NatWest Premier, said: “It’s easy to see why athletes may avoid thinking about their finances when they are competing at the highest level in their sport, and they need to be laser-focused.
“By inviting Team GB athletes to become NatWest Premier customers, not only do we want to recognise the tremendous effort and sacrifice they have made by representing their country, but we also want to help ease the unique financial pressures they might face.
“The approach to financial planning can be very similar to preparing for the Olympics – set a goal, seek expertise, break it down into small manageable steps, celebrate success and learn to weather challenges along the way. We hope that by welcoming these athletes to NatWest Premier we can help them go for gold when it comes to their finances too.”
Depending on their financial priorities, athletes will have the opportunity to choose between the fee-free Premier Select account or the Premier Reward or Premier Reward Black accounts which would come with a monthly fee of £2 and £36 respectively.
Lizzie Simmonds, chair of the British Olympic Association's Athletes' Commission, added: “When competing abroad, athletes shouldn’t have to worry about their finances. Long-term financial planning is also crucial, but can be challenging with a non-traditional career, so having access to expert guidance is incredibly valuable. We’re grateful for NatWest Premier’s support in helping athletes build financial confidence.”
alina.khan@ft.com
