Sending money abroad with NatWest

NatWest offers money transfer as part of its banking platform, but there are cheaper options to transfer money abroad from the UK.

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NatWest lets you send one-off, recurring and future payments when you need to transfer money abroad from the UK. But how does NatWest compare with other international money transfer providers when it comes to fees, speed and exchange rates?

How do I transfer money abroad with NatWest?

There are various ways you can send money abroad from the UK with NatWest, including via your mobile, online banking, in a branch, or over the phone if you’re a Premier Banking customer.

Of course, you’ll need to already have a NatWest bank account, or to set one up.

Fees to transfer money abroad with NatWest

NatWest transfer fees depend on how much money you’re sending from the UK and where you’re sending it to. They also depend on what kind of account you have with NatWest.

NatWest may charge a £10 agent’s fee depending on where and how you send the money. Be aware that the recipient’s bank may also have a charge for receiving money, and this is something either you or your recipient can choose to pay.

Personal banking account

If you’re not in a hurry to get money to a recipient in another country then it’s free to send up to £10,000 a day via your mobile or online banking account.

Payment typeTime takenFee
Standard2-4 working daysFree
Urgent1-2 working days£15

ibanking Plus

NatWest’s ibanking Plus service is aimed at international customers with multi-currency accounts who want to transfer money abroad.

Payment typeAmountArrivalFee
International payments£5,000 or lessSame day£15
International paymentsMore than £5,0001-2 working days0.3% (min £23, max £40)
Euro international payments*Any amount sent in euros1-2 working daysFree of charge

*Payments made within the UK, Channel Islands, Isle Of Man, Gibraltar or any country within the EEA (European Economic Area)

Different ways to transfer money abroad with NatWest

NatWest offers the following options when you want to transfer money abroad from the UK:

  • One-off transfers. This allows you to send money overseas quickly and conveniently.
  • Future-dated payments. This option lets you send funds at whatever exchange rate is available when the transfer is executed.
  • Recurring payments. You can take advantage of this transfer option when paying off a debt in instalments, for example a mortgage.

NatWest exchange rates

As well as the fees above there is also a hidden charge, in the form of a margin that NatWest adds on top of the mid-market exchange rate.

The size of this margin varies depending on the currency you want to transfer. However, it’s generally the case that banks offer less competitive rates than money transfer companies, which are also a faster way to transfer money abroad.

Who charges less?

Independent transfer services usually win out over banks when it comes to fees. There are several providers with competitive exchange rates that will send an international money transfer for free, including OFX, XE and Wise.

NatWest updates its exchange rates from one minute to the next during trading hours, which you can see once you log in to online banking. You’ll be able to review the details of your transaction, including the exchange rate that will apply, before you commit to the transfer.

Compare NatWest to other international money transfer options

Table: shows partner brands and other brands, sorted by popularity
Our table below lets you compare the services you can use to send money abroad. Choose if you want to send under or over £10,000, and you’ll be shown a list of services that can help you.
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer) Learn More
Wise (TransferWise) for large transfers
Within an hour
From £3.75

View details
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
TorFX
24 hours
£0

View details
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
Central FX
24 hours
£0

View details
CentralFX's dedicated team will guide you or your business from first call to final payment.
Currencies Direct
Within an hour
£0

View details
CurrenciesDirect makes transferring money abroad simple with bank-beating exchange rates.
CurrencyTransfer
24 hours
£0

View details
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
XE Money Transfers
24 hours
£2
SPECIAL OFFER ✓ £25 Amazon voucher when you refer a friend

View details
XE has fast transfers with low fees and a range of foreign currency tools.
Wise (TransferWise)
Within an hour
From £3.75

View details
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
Azimo
Within minutes
From £0.99
SPECIAL OFFER ✓ First two transfers free for new customers.

View details
Azimo sends money directly to a bank account or over 280,000 cash pick-up points. It also has fast transfers to 50+ countries.
CurrencyFair
24 hours
€3
SPECIAL OFFER ✓ Zero fees on your first 10 transfers

View details
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Remitly
Within minutes
From £1.49
SPECIAL OFFER ✓ Free transfers and better exchange rates for new customers

View details
Remitly has quick, affordable transfers around the world, with both express and economy options.
WorldRemit
Within an hour
From £1.99
SPECIAL OFFER ✓ Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.

View details
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
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Compare up to 4 providers

The registration and transfer process

To send an online international money transfer, log in to your NatWest Online Banking account. You can then navigate to the “Pay” section and select “Send a payment abroad”.

Next, enter the details of your payment, including:

  • Your recipient’s full name and address
  • The Bank Identifier Code (BIC) of your recipient’s bank
  • Your recipient’s International Bank Account Number (IBAN) or account number
  • The country where the bank is located
  • The amount you wish to send and the reason you are making the payment

The final step is to review and confirm the details of your transfer.

Pros and cons of making a NatWest money transfer abroad

Pros

  • Choice of transfer methods. You can place a transfer online through your mobile, your online banking account, over the phone or by visiting a branch.
  • Secure and convenient. Sending an international money transfer with NatWest gives you the security and peace of mind of dealing with a trusted global financial institution, plus existing customers will already have an account set up and will not have to go through a registration process to access the service.

Cons

  • Charges apply. Transaction fees apply to almost all transfers and tend to be more expensive than specialist providers.
  • Uncompetitive exchange rates. Banks usually have much less competitive exchange rates than online money transfer companies.

What other international products does NatWest offer?

As a global financial institution, NatWest offers an extensive range of banking products and services to its customers. In terms of international banking it offers the following:

  • Travel money. NatWest allows you to order your travel money online and take advantage of next-day delivery.
  • Mortgages and loans. You can get loans from NatWest to help you when buying a home or need some extra cash
  • Overseas relocation services. You can open an international account before you move abroad.

Bottom line

Whatever the reason why you need to transfer money abroad from the UK, it’s worth considering NatWest for an international money transfer. But you may get a better deal if you shop around first – use our reviews to compare the features and benefits of a range of providers.

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8 Responses

    Default Gravatar
    AyazApril 8, 2019

    I would like to know if there is a package sent for azerbaijan Baku surakhani yeni guneshli.I m said that my package is in ukrain.have some problems with custom clearanced

      Avatarfinder Customer Care
      nikkiangcoApril 9, 2019Staff

      Hi Ayaz,

      Thanks for getting in touch! We are not able to check if a package was received for you, please contact the designated courier for this. Hope this clarifies!

      Best,
      Nikki

    Default Gravatar
    MichelleJanuary 16, 2019

    I need to transfer 72k to my brother in Canada, it is his share of an inheritance. How should I do it so that he keeps the maximum amount of his inheritance? I have three accounts HSBC business, Barclays current, and Nat West current accounts.

      Avatarfinder Customer Care
      JoshuaJanuary 21, 2019Staff

      Hi Michelle,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      Generally speaking, it is costlier to send money through a bank to bank transfer. Some people find it cheaper to use international money transfer services. If you want to send money through any of your bank accounts, it would be a good idea to check their fees one by one. However, if you want to consider using money transfer providers, please go to this page.

      On that page, you will read our guide on how to send money to Canada in an easy and cost-effective manner. On the same page, you will see a table that let you compare your options speed, minimum transfer amount, and estimated amount received. Once you found the right one for you, click on the “Go to site” green button to learn more or initiate your application.

      Please note though that the table shows an estimate of amount received and the provider will give you the final quote of your money transfer.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      By the way, you can also reach us by clicking the “Want to chat?” button found on the lower right corner of our page to speak to one of our agents.

      Have a wonderful day!

      Cheers,
      Joshua

    Default Gravatar
    SveinNovember 11, 2018

    I got a cheque from Natwest bank, isle of man branch. I don’t know how to cash it in europe. My bank in czechia does not take cheques. Went two other banks who could not help me. Oldfashioned way they say. How do I go about doing this, it is in Euros, and I’d like to have it cashed in Euros.ncan you help me?

      Avatarfinder Customer Care
      JoshuaNovember 25, 2018Staff

      Hi Svein,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      I’m sorry to hear about the trouble you are encountering. You might want to go to Natwest Bank where the cheque was named. NatWest should be able to help you out. From there, you should be able to encash your cheque.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

    Default Gravatar
    SarahApril 5, 2018

    I need to obtain an international bankers draft in US dollars. Which bank offers this?

      Avatarfinder Customer Care
      JeniApril 6, 2018Staff

      Hi Sarah,

      Thank you for getting in touch with finder.

      There are a wide range of banks in the UK that offer international banker’s draft such as Barclays, NatWest, Santander, Lloyds and more. Kindly contact them directly to know more about this.

      As a friendly reminder, while we do not represent any company we feature on our pages, we can offer you general advice.

      I hope this helps.

      Have a great day!

      Cheers,
      Jeni

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