The footballer said he was not comfortable discussing money ‘in any environment, especially not at school’.
The bank said some pilot sessions taking place in April will help to inform an effective programme that can be rolled out more widely.
Footballer Rashford, who has been widely praised for campaigning to highlight the issues of free school meals and child hunger, sa: “My mum was one of the best people I had ever seen managing money, because she had to be, but the word ‘money’ was always met with stress and anxiety in the household.
“I wasn’t comfortable discussing it in any environment, especially not at school, and we had to travel out of our community to find a nearest bank branch. Most of us dealt in cash.
“Having carried out insight sessions across the UK in the last couple of months, it became obvious that my experience was not a rarity. Children are fearful of talking about money.”
The initiative will involve goal setting, having good money conversations, and helping young people to develop a positive money mindset.
Rashford added: “Just to be clear, this is not about educating communities how to manage their money, this is about engaging children to get excited about planning for their futures.”
NatWest Group chief executive Alison Rose sa: “Listening to community and youth workers, we know many young people and their families see money as something to worry about, instead of as a positive tool for them to thrive – that’s something we must seek to change.
“We want children to build and get excited about their futures and we want to break down barriers, particularly where it relates to their perceptions of a bank and who we cater for. We’re privileged to have Marcus share his passion and purpose with us to create a real long-term impact.”
NatWest has been running a financial education programme called MoneySense since 1994.