NatWest business banking at a glance
The core comparison points are current and savings accounts, arranged overdrafts, loans, service evidence and pros and cons. Fees and survey scores change, so current primary sources carry more weight than undated figures.
NatWest has different propositions for new and established businesses, community organisations and larger commercial customers. Identify the correct segment before comparing costs because offers, support and eligibility differ.
Start-up and business current accounts
NatWest currently describes its Start-up account for businesses trading for under a year with turnover below £1 million. It advertises two years of free banking on everyday transactions, subject to the account terms.
Its established-business switching proposition also advertises two years of free everyday banking for qualifying firms with turnover up to £2 million using the full Current Account Switch Service.
Check the tariff that follows, transactions excluded from the offer and whether your business and old account are eligible.
FreeAgent and digital banking
Eligible NatWest business current-account customers can receive access to FreeAgent accounting software.
This can be valuable if the product fits your bookkeeping, VAT, invoicing and tax workflow, but it should not determine the account choice if you need different software.
Review online and mobile access, user permissions, payment approvals, alerts, limits and accounting feeds. Confirm how an administrator is replaced and what alternatives remain available during an app or online-banking interruption.
Cash, cheques and everyday payments
NatWest supports branch and Post Office routes for specified transactions. Cash-led businesses should model deposit charges after promotions, local availability, cut-off times and individual deposit limits.
Price CHAPS, international payments, card use abroad and unpaid items separately. A free everyday-banking offer may not cover every service a company uses.
Overdrafts, credit cards and loans
NatWest offers overdrafts, cards, loans and other finance subject to status.
Match the product to the need: overdrafts for short timing gaps, loans for defined expenditure and asset or invoice finance where the underlying asset or receivable supports the facility.
Compare rates, fees, guarantees, security, repayment flexibility and covenants. Current-account tenure may provide useful transaction history, but it does not guarantee approval or the lowest total cost.
NatWest pros, cons and verdict
Potential strengths include an established business-banking range, the FreeAgent benefit for eligible customers, cash-handling options and access to several forms of finance. The start-up offer can be attractive when its included services match the business.
Potential drawbacks include tariff complexity after the offer and dependence on a larger bank's digital and support processes. Compare the post-offer cost and service-quality evidence.
NatWest is most compelling when the included software and wider banking relationship have real value to you.
Frequently asked questions
Who is the NatWest Start-up account for?
NatWest currently describes it for businesses trading for less than a year with turnover below £1 million, subject to its full eligibility conditions.
Is FreeAgent included with NatWest business banking?
NatWest says eligible business current-account customers can receive FreeAgent. Confirm the current eligibility, duration and whether the software meets your accounting requirements.
Can I switch an established business account to NatWest?
Qualifying established businesses may switch through the Current Account Switch Service. Check turnover, account-type and provider eligibility and the terms of any NatWest offer.