NatWest business banking review

NatWest offers a range of business banking options, including specialised accounts for startups and charities. Find out what's on offer and whether it's right for your business.

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NatWest

What is NatWest business banking?

One of the UK’s leading banks, NatWest offers a range of products for businesses of varying sizes, including bank accounts, credit cards, loans and insurance.

The NatWest website also provides resources and advice on how to run your business, whether you’re just starting out, or have been trading for a few years.

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What type of business accounts does NatWest offer?

NatWest has three main types of business account:

  • Startup account. For businesses that have been trading less than a year with less than £1 million of turnover.
  • Business account. For businesses that have been trading over a year.
  • Community account. For not-for-profit organisations.

You can use NatWest’s current account switching service to open a new business account. This means the bank will take care of transferring your direct debits and standing orders from your old account into your new one.

NatWest business banking features and charges

NatWest’s standard business account includes the following benefits:

  • No minimum monthly charge – only pay for what you use.
  • Free accounting software with FreeAgent.
  • Contactless VISA debit card (by application).
  • The option to apply for NatWest’s Entrepreneur Accelerator programme.
  • A dedicated Relationship Manager.
  • Access to online banking, mobile banking and a 24/7 UK based telephone banking line.

NatWest’s startup account offers 18 months of transaction fee free business banking. This is available to businesses in their first year of trading with a turnover of less than £1 million. At the end of the 18-month period, the account becomes a standard business account.

You also get access to the bank’s Business Builder learning platform and Business Growth events.

Not-for-profit organisations can open a community account, which comes with free banking (if your turnover is less than £100,000), as well as a cheque book and paying in book.

NatWest international business banking

If you sign up to NatWest’s online banking service, you can use it to make international payments of up to £10,000 a day.

For larger amounts or if you’d rather not use online banking, you need to come into a branch to complete the transaction. You will need to have your debit card and a form of ID (such as a driving licence or passport) with you.

For a same day payment, you have until 2:00pm to arrange the payment (1:30pm for urgent transfers in euros to Europe).

You can also send international payments via mobile banking, if you already have an international mandate set up.

Cost of international bank transfers
The cost for these types of transactions varies from £0-£30, depending on the type of international payment requested and its destination. Note that overseas bank charges may also be payable.

NatWest business banking contact details

NatWest can be contacted using the following numbers:

UK: 0345 300 4350 (24 hours)

Overseas: +44 1268 508 020

Relay UK Service: 18001 0345 300 4350 (24 hours)

If your card or cheque book has been lost, damaged or stolen, call:

UK: 0370 600 0459

Overseas: +44 1268 500 813

Relay UK Service: 18001 0370 600 0459

You can also contact NatWest via the 24/7 service through your online banking account or by using the bank’s app.

NatWest business banking reviews

Online customer reviews are for NatWest as a bank.

On Trustpilot, NatWest has 1.4 out of 5 stars and a rating of “Bad”, based on more than 2,000 reviews. On similar platform Reviews.io, the bank has 1.6 out of 5 stars based on more than 200 reviews.

Some customers praised the bank’s helpful and efficient staff, particularly in branch. Others reported difficulties in accessing certain services and reaching the customer service team over the phone.

Compare NatWest against its competitors

Data indicated here is updated regularly
Name Product Interest rate Fee Overdraft
Tide
0%
No monthly fee
No overdraft available
Amaiz
0%
Free Starter plan, or £9.99 a month for Advanced account
No overdraft available
CardOneMoney
No monthly account fee for the first three months*
No overdraft
*£12.50 monthly fee thereafter inclusive of transactional fees
ANNA
0%
Starts from £0
No overdraft available
Starling Business Account
0%
No monthly fee
Overdraft available
TSB | Business Bank accounts
0%
Up to 25 months* free day to day banking
Planned overdraft available subject to acceptance
*25 months free when keeping your account within agreed limits. £5 fee applies after this period, but will be waived if you maintain an average monthly balance of £10,000.
Cashplus business
0%
No monthly account management fees, annual account fee is £69
Up to £2,000 of credit, using it costs £1.50 a day
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