NatWest Business

Who is NatWest Business?

NatWest is a trusted name in the banking world. NatWest business banking helps businesses get the financing they need to start or grow their business.

NatWest Business offers various products, including start-up accounts, business credit cards, overdrafts and business loans.

What type of funding does NatWest Business offer?

NatWest offers a range of business finance, including small or large business loans, overdrafts, and business credit cards. Small business loans typically have a fixed interest rate and allow you to borrow over a term of one to seven years. Loan amounts range from £1,000 to £100,000.

With large business loans, there’s a choice between fixed-rate and variable-rate loans, which are available over a term between three months and 25 years, depending on the type of loan.

NatWest Business loans do not usually have early repayment fees if you wish to make extra payments or to clear your balance in full.

Aside from loans, NatWest Business also provides commercial mortgages available for up to 25 years. There’s also real estate finance, which allows you to borrow from £25,001 upwards to help you build or develop residential property to rent out or sell.

On top of loans and property finance, NatWest also offers invoice financing to unlock capital from unpaid invoices and asset finance to help you purchase vehicles or equipment.

How do you apply for funding with NatWest Business?

With such a wide range of financing options, the eligibility criteria for applying can vary. Generally, you will need a good credit score, to be 18 or over, and to be a director of a business that has not been declared bankrupt/received a CCJ.

You can easily apply for finance online through NatWest’s online application forms. Application time and payments will depend on which type of finance you apply for.

Do NatWest provide online business banking?

Yes, NatWest has an online business banking facility, and once you’ve set up online banking, you can download the NatWest app. In the banking app, you can make payments to suppliers, check your balance, access up to seven years of business bank account statements, share your bank details, and add up to 50 business accounts.

Much like every banking app, the NatWest business banking app is available on iOS and Android devices. The banking app enables business customers to embrace paperless banking and makes managing their business accounts easy.

If you have any business banking queries, you can access NatWest customer support via WhatsApp. This means you don’t have to drive to a NatWest branch or wait in a long telephone queue just to get a question answered.

How to open a NatWest Business Account

You can open a NatWest business account online by following their simple online application process.

Follow these steps to set up your NatWest business account:

1. First, decide which account is best for your business. You can set up a start-up account, a standard business account, a community account, or a mobile account. Which one you apply for depends on your current business situation.

2. Gather all the documents and information needed to open the account (example list of requirements below)

3. Fill out the application online. NatWest might contact you to confirm some details, and if your business turns over more than £2 million, you won’t be able to finish your application online.

4. You’ll receive confirmation that your account has been set up, usually within 10 working days. You’ll then receive your business card in the post.

Are you eligible to open a business account with NatWest?

Eligibility criteria to open a NatWest business bank account:

• You must be over 18
• You own or are the director of the business you’re applying on behalf of
• Your business is registered in the UK (or the Channel Islands, Isle of Man or Gibraltar)
• You’re not bankrupt
• You haven’t received a CCJ

If you want to switch your business account from another bank to NatWest, you can use the Current Account Switch Service. This service manages the switch on your behalf, making it even easier to set up a business account with Natwest within just seven days.

What details do you need to set up a NatWest business account?

To open a standard business account, you must have either been trading for at least a year and have a turnover of less than £1 million or have been trading for over a year with a turnover of more than £1 million.

You’ll need details like:

• Your name
• Registered business address
• Nature of business
• Number of employees
• Details of directors
• Cash flow forecast
• Registered company number

Do NatWest offer Business Credit Cards?

Yes, NatWest offers business credit cards, which can help improve your business cash flow.

You can apply for a NatWest business credit card if your business turns over £2 million or less. With this card, you can enjoy flexible monthly payments and access a merchant discount programme with Mastercard Business Savings, along with other benefits.

Compare NatWest with other lenders

When searching for business finance, it's important to compare other lenders before signing on the dotted line. That’s where our free loan comparison tool comes in handy. Simply input your loan details, including how much you want to borrow, your reason for borrowing, and the loan term, and we’ll immediately show you eligible loan offers.

There’s no obligation to proceed with any quote you’re shown. Instead, take your time and compare lenders at your leisure. If you find a loan offer you like, you can proceed with your application online. Compare business loans.

NatWest Business Reviews

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