NatWest offers three business bank accounts that cater for a variety of businesses and includes a free mobile banking account, a free account for 18 months for business start-ups and a standard account. Below we look at reviews for the company along with the accounts they offer, how much they cost and other key things you need to know to help you decide which business bank account provider is right for your business.
Below we look at reviews for NatWest from a variety of websites. Please keep in mind that these reviews are for all of NatWest’s services and so may not fully reflect their business offerings.
- Trustpilot: 1.5 of 5 based on 3,022 reviews.
- Review Centre: 0.9 out of 5 based on 140 reviews (business account only).
- Reviews.co.uk: 1.59 out of 5 based on 297 reviews.
NatWest Business Services Plans, Packages & Prices
NatWest offers three business bank accounts which are the Free Mobile Account, Start-up Account and the Business Account.
The Start-up account includes:
- 24/7 online account management
- No transaction fees for 18 months
- A quick online application process
- Overdraft available subject to approval
- Access to FreeAgent accounting software
- Use Tyl to easily take payments online
- Access to their business community and MentorDigital
- Expert business advice
The Free Mobile Account called Mettle includes:
- Completely free account with no monthly charges or transaction fees
- Create and send invoices
- Integrates with accounting software
- Access FreeAgent accounting software
- Online support through the app
The Business Account for those trading for over a year includes:
- No minimum monthly charge and only pay for what you use
- Dedicated Relationship Manager
- Free accounting software – FreeAgent
- Invoices, expenses and bank account all in one place
- Online and mobile banking
- UK based telephone banking 24/7
Business Account charges:
- New business start-ups get 18 months of free transactions
- Automated payments in and out £0.35
- Cash deposits and withdrawals £0.70 per £100
- Manual payments in and out £0.70
Free Mobile Account/Mettle is a free account with no charges.
Note plans, packages and prices were all accurate at the time of publication (April 2021) but may have changed since then. Please check NatWest’s website for the latest information.
NatWest Group is the largest business and commercial bank in the UK, and they have 19 million customers across their personal and business banking portfolio of businesses. They claim to account for 1 in 4 business customers in the UK and Ireland from start-up businesses through to multi-national businesses.
The NatWest Group comprises of NatWest, Royal Bank of Scotland, Ulster Bank, Coutts, Adams & Company, Child & Co, Drummonds, Holt’s Military Banking, Isle of Man Banking, Lombard, RBS International, NatWest Markets and FreeAgent.
NatWest was founded in 1968 when three banks came together. NatWest operates in England and Wales offering personal, private and business banking to over 1.8 million customers. They provide three business bank accounts to small businesses and a tailored service for larger businesses with a turnover above £2 million.
Switching To NatWest
If you want to switch to NatWest, you can apply online by filling in their online application form. Checks will be taken before your account will be opened. Once you have an account, they will carry out the switch from your current bank account provider using the Current Account Switch Service which will be completed within seven working days. The switch includes transferring direct debits and standing orders and closing the account. This service is backed by the Current Account Switch Guarantee.
Additional Business Services From NatWest
NatWest offers a wide range of business products and services which include:
- Savings accounts
- Business credit cards
- Virtual card solutions
- Invoice finance
- Asset finance
- Commercial mortgages
- Trade finance
NatWest Business Service Availability
The Start-up Business Account is available to business that has been trading for under a year and has a turnover below £1 million. Accounts are available to applicants who are over 18 years old and have the right to be self-employed in the UK.
The Free Mobile Account is available to sole traders or limited companies with up to two owners with balances up to £100,000 or £50,000 for sole traders.
Their Business Account is designed for businesses with a turnover below £2 million. They offer a personalised service to those with a turnover above £2 million.
NatWest Business Customer Service and Complaints
You can contact the NatWest customer service team on 0345 711 4477 which is open 24/7 for basic banking enquiries.
NatWest Business Contact
You can get in contact with NatWest by:
- Calling 0345 711 4477 (open 24/7 for basic banking enquiries)
- Live chat on their website
- 24/7 messaging on online banking and mobile app
- Post – PO Box 16204, Birmingham B2 2WP
Website: NatWest business bank account
NatWest Business Services Pros/Cons
- 18-month transaction fee-free banking
- 24/7 chat, messaging and telephone banking for basic banking enquiries
- Provides business finance admin support tools
- Offers a free mobile banking account
- Provides a range of other business products
- Poorly rated in customer reviews
- Reduced branch locations