NatWest has a range of bank accounts designed for business owners and self-employed people. It offers free business support and accounting software too. The banking group also owns Mettle, offering a free mobile bank account for sole traders and limited companies. Read our review of Mettle here. This guide outlines the different business accounts and how they compare.
Compare NatWest’s business accounts
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.
What type of business accounts does NatWest offer?
NatWest has 4 main types of business account:
- Start-up 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.
- Free ‘Mettle‘ mobile account. For self-employed people.
You can use the Current Account Switch 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 Start-up account offers 24 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 24-month period, the account reverts to a standard business account and starts charging transaction fees.
You might be able to take advantage of this fee-free offer if you have an existing business with a turnover of up to £2 million. Provided you switch your business account using the full Current Account Switch Service, NatWest is offering 24 months of free banking.
Here’s what you can expect from NatWest’s standard business account:
- 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 free Accelerator programme.
- A dedicated relationship manager.
- Access to online banking, mobile banking and a 24/7 UK-based telephone banking line.
NatWest international business banking
If you sign up to NatWest’s online banking service, customers with business accounts can make international payments of up to £50,000 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–£40, depending on the type of international payment requested and its destination. Note that overseas bank charges may also be payable.
NatWest business banking customer reviews
In our independent 2024 customer satisfaction survey, 97% of NatWest’s users said they’d recommend the brand to a friend. Customers highlighted the bank’s excellent customer service and easy online banking. Here’s what some of those NatWest customers had to say:
“It is a great bank. Always quick, helpful, and the best rates.”
“Very competitive business rates, easy and professional to deal with and provide accurate information for my business needs”
The NatWest Bankline app has a rating of 4.8 out of 5 from almost 3,000 reviews on the App Store (February 2024).
Pros and cons of NatWest business banking
Pros
- Different account options for startups, established businesses and not-for-profits.
- Extensive branch network.
- Other financial products available, such as overdrafts, credit cards and loans.
- Initial free banking period on offer (for startups), then “pay as you go” fees as standard.
- Dedicated business support.
- Account switching service available.
- Free accounting software, making it easier to invoice and manage your cash flow.
Cons
- International banking fees could be cheaper elsewhere.
- Mixed customer reviews.
- The standard business account charges transaction fees.
Customer service information for NatWest
Email support | |
---|---|
Telephone support | |
In-app or live chat | |
Contact form | |
Branch support |
Our verdict: Is a NatWest business bank account worth it?
Whether you have a young business or an established one, NatWest has a range of accounts which come with extra perks such as a relationship manager and free accounting software.
Its Start-up account is free at first and after the introductory period, fees are charged per transaction, which sets it apart from the business accounts that charge monthly fees. But you need to weigh up if the “pay as you go” banking fees still work out as cost-effective compared to accounts that charge each month.
If you have read this review and decided that a NatWest business account is not for you, you can also compare other business bank accounts on the market.
Banking scores
Finder scores, in blue, are based on our expert analysis. We also show reviews from users, where we've received more than 10, with a score in yellow. We gather more reviews from customers every year in Finder's customer satisfaction survey.
To find out more, read our full methodology.
More guides on Finder
-
4 ways to streamline your international business payments with WorldFirst
As more businesses plan to go global, find out how WorldFirst’s multi-currency account could benefit your operations. Paid content.
-
eToro vs XTB
XTB and eToro are cheap investment platforms with a lot to offer. We compare the features, fees, account types and more – side by side in eToro vs XTB.
-
Payday loans guides & resources
Browse our collection of payday loan guides, designed to answer all of your short term loan questions and help you find the right payday loan.
-
Best side hustle ideas for teens
We’ve compiled a list of side hustle ideas, so you can give your teenager a nudge in the right direction next time they come to you asking for money.
-
Euro business accounts
Find out how euro business accounts work and who they might suit.
-
Can you have more than one business bank account?
We explain the benefits of opening multiple business bank accounts and what to watch out for.
-
Freetrade vs Hargreaves Lansdown (HL)
Freetrade and Hargreaves Lansdown are both investment platforms with a lot to offer. We compare their features, fees, account types and more – side by side in Freetrade vs HL.
-
Bestinvest vs Hargreaves Lansdown (HL)
Bestinvest and Hargreaves Lansdown (HL) are both investment platforms with a lot to offer. We compare their features, fees, account types and more – side by side in Bestinvest vs Hargreaves Lansdown.
-
Moneybox vs Hargreaves Lansdown (HL)
Hargreaves Lansdown and Moneybox are both investment platforms with a lot to offer. We compare their features, fees, account types and more – side by side in Moneybox vs Hargreaves Lansdown (HL).
-
Moneyfarm vs Hargreaves Lansdown (HL)
Hargreaves Lansdown and Moneyfarm are both investment platforms with a lot to offer. We compare their features, fees, account types and more – side by side in Moneyfarm vs Hargreaves Lansdown (HL).