NatWest Business Banking . The Current Account Switch Service is a free service that lets you switch a business current account from one participating bank to another – in 7 business days. It’s called the Business Bank Switch (BBS) and we’ve got all the essential info you need below. As part of the full switch, we transfer all your payment orders in and out (such as salary and Direct Debits) to your new account with us, and also set up a payment redirection for any credits or debits from your old account for a minimum of 3 years. If you are a sole trader or single director single shareholder company, you may be able to apply for an HSBC Kinetic Current Account. choose NatWest’s Select account, a basic account with no monthly fee. Metro and NatWest) but others could slap on daily fees up to £25. If you’re a business customer of RBS or Natwest, you may have already been told that you’ll be affected. Both new and existing NatWest customers who switch their main bank account … NatWest has launched a £125 cash switch deal for customers moving their everyday banking to it. For example, some banks may charge cancellation fees. This is an international bank account number - used for identifying a specific bank account … To earn up to £211 over a year… You’ll need to meet all the conditions above, but instead of opening a Select account, you’ll have to open a Reward, Reward Silver, Reward Platinum or Black account (these are all fee-charging accounts). Disclaimer. You will receive a new account number, card and PIN. CURRENT account customers who switch to NatWest will be rewarded with £125 in cash under the bank’s new offer. How much are the incentives worth? SWIFT versus IBAN. Switch your business bank account to take advantage of the latest deals and special offers. It’s free and easy. It’s seamless. You can switch your business current account to any Santander business current account from your current bank. Registered on the NatWest Business Banking Switch website or RBS Business Banking Switch website. If you have connected an account other than a commercial credit card (e.g., a personal or business account) using Natwest Cards Online (UK) bank feed will cease and you will need to reconnect your account on banking page in QuickBooks using an appropriate provider link (for example, "NatWest - Personal Banking - Current Accounts"). We’ve been voted Best British Bank for 3 years running. The best of British. This money would be used to incentivise SMEs to switch their current accounts and loans away from RBS (and NatWest, which is owned by RBS). To receive the £175, a NatWest Select or its Reward, Reward Silver, Platinum and Black accounts must be opened before the April deadline and used as a main bank account. They have spoken to their bank, who have said it is a QuickBooks problem. People who switch to NatWest will be provided with £125 cash back, as long as they do so by November 19th, 2020. You are eligible to switch to a new deal for the sub-accounts indicated above. They don't have a bankline account, and the Clearspend is for credit cards. You may want to find out how easy it is to switch business bank accounts in case you weren’t happy with a service. It’s simple and stress-free, and the full switch option is backed by the Current Account Switch Guarantee. Once you have registered your business with Online Banking you can then view the account in your Mobile Banking App by following the instructions below: Tap the profile icon found in the top right hand corner of the app; Select the option to add a business; Please enter in the name of your business followed by the Customer Number You must also make sure that your account at NatWest/RBS is fully closed with no overdrawn balances. Only your bank can confirm the correct bank account information. Those are the basics about a NatWest business account, but for further information NatWest itself is the best place to go. cash back) for a certain group of customers to move their banking from NatWest or Royal Bank of Scotland to participating competitor banks. They do it all for you and you're protected by the Current Account Switch Guarantee. Could our new HSBC Kinetic Current Account be right for you? Established in 1968, NatWest is one of the nation’s biggest banks, with 960 branches across the UK. We’re proud to be part of the Current Account Switch Service and will handle everything that comes with moving your bank account across to NatWest International. Depending on where you’re sending money to, you might be asked for an IBAN number as well as a SWIFT code. Please be aware that once you have selected a new deal the new rate will only commence after you have electronically signed and returned your documents. Compare business bank accounts for switchers at NerdWallet. Our business bank account comes with no monthly fees or UK payment charges. NatWest business accounts, like the other high street banks, are very standard but the newer type of banking providers will all offer different functionality. NatWest is closing my business account, HELP! Even better, you get free banking for 12 months. Although this will mean extra hassle for thousands of business owners, you could come out of it with a better deal and could even get a cash incentive to make the move. My client is trying to reconnect her Natwest account, but is asked if they are using bankline or clearspend. Businesses with fewer than 50 employees can use the Current Account Switch Service which is quick, simple and stress free. We’ve taken the difficult decision to temporarily stop accepting business account applications from customers looking to switch their banking to us. NatWest has frozen my bank account and is now refusing to allow me to switch to a rival bank. on the eligible RBS/NatWest Business Current Account(s) (as defined in the Business Banking Switch Terms and Conditions below) which you are switching to Santander. It’s simple and stress-free, and the full switch option is backed by the Current Account Switch Guarantee [PDF, 37KB]. So make sure your new business bank account … NatWest has a £125 current account switch offer but it is ending soon (Image: GETTY) NatWest has a Reward current account which has a £2 monthly charge (Image: GETTY) Requesting to switch only takes a few minutes – so why not give it a go? How to switch to a new business bank account. If you are making an important or time-critical payment, we recommend you contact your bank first. Why switch your business bank account to Starling? So if you’re looking for the best in business banking, look no further. It can then take as much as seven days for your payment to take place. The Switch Guarantee means it’s all done in under 7 working days. If you decide to make the switch to a NatWest, Royal Bank of Scotland, Ulster Bank NI or Mettle-funded account, your FreeAgent subscription will be free of charge subject to you retaining your business banking current account. In addition to this, customers need to close their existing main bank account and transfer their main account to NatWest using the Current Account Switch Service. We will only match the Arranged Overdraft limit you hold with RBS/NatWest at the point of application. The bank has been part of the Royal Bank of Scotland Group since 2000. Check out their website, or contact them through one of these methods: Call from the UK on 0345 711 4477¹¹ ; Search their website’s business support centre for answers to key questions; Get in touch via Twitter: @NatWestBusiness²; Or head into a branch and … The Business Banking Switch also known as the Incentivised Switching Scheme is a scheme which makes available a range of specialist offers (e.g. Look at it another way; it is clear that RBS and NatWest want to offload small business accounts - if you don't take up the offer you might well find yourself being asked to move your account elswhere in the future Actually I've been thinking of changing for 3 years, it's only ineria/laziness whch has topped me. Switch to us for a simple business account and access to our bespoke products and services designed to help your business succeed. 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