Current Account Switch Guarantee (PDF, 39KB). At the end of the 12-month period we’ll automatically move you to the Business Current Account £7.50 fixed monthly fee. If you are looking to open a Start up account in order to apply for the government-backed Bounce Back Loan (BBL) Scheme, please note that the Bounce Back Loan and Top-Up scheme is now closed. We’ll advise on whether this is possible before you progress with the switch application. Our professional current account switch service will handle everything that comes with moving your bank account across to NatWest International. Your new account will then be set up and your payments, like your salary and bill payments, will be moved across. If this isn’t the case you must make separate arrangements to repay your old bank or building society what you owe. Information about your business activity and number of employees, Any other trading names your business uses, Details of any countries you (or your business) are registered in, Details of your business’s or cash flow forecasts, You're the owner or a director of the business you’re applying on behalf of. NatWest business accounts, like the other high street banks, are very standard but the newer type of banking providers will all offer different functionality. It's important for you to understand how we use and share your information. 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. Enter the account details you’re switching from. And that’s your switch complete. You’ll also be able to manage your account with the ClearSpend app. If your old account has an overdraft, we can move this across, subject to your individual circumstances. You’ll also need your business details, including your Company’s Registration Number (provided by Companies House) if you’re a limited company. CURRENT account customers who switch to NatWest will be rewarded with £125 in cash under the bank's new offer. Working with HM Treasury and the European Commission we agreed to set up an incentivised switching scheme, which we’ve named Business Banking Switch – allowing participating banks to offer incentives such as cash and free banking to certain customers for switching their business current account. Financial Services Compensation Scheme Guide (PDF, 45 KB), Your Guide to switching your account to us, Summarised business account charges booklet, Get money into your account the next working day. It is available for eligible customers who are over 18 and have the right to be self-employed in the UK. cash back) for a certain group of customers to move their banking from NatWest or Royal Bank of Scotland to participating competitor banks. This, alongside logging into Mobile or Online Banking must be done by … Personal details for any directors, partners, members or signatories. Plus, earn an extra £1 a month back in Rewards with 1 mobile app log in. Secure - the sender's bank issues the electronic payment instructions to a bank in the UK.The money is then paid into your account. The Current Account Switch Service will contact your old bank and they confirm if the switch can go ahead. Before we start the switch process, we make sure that your account is eligible with the Current Account Switch Service – 99% of UK current accounts are eligible to use the service. Please read this short summary before you continue with your application. If you apply for credit facilities, security may be required and product fees may apply. Complete a Current Account Closure Instruction Form to authorise closure of your old account. You’ll need the personal details of all of the partners, members or directors of the business (including their home addresses for the last 3 years). For multi-owner accounts, one user will need to initiate the switch from the app. Customers must pay in £1,500 to the account and log into online or mobile banking through the NatWest mobile app before 15 January 2021 and will then receive £125 by 12 February 2021. The process will be completed within 7 working days and includes changing over your direct debits and standing orders. All you need to do is tell us the details of your old bank account and when you want the switch to start. Additional account form (opens in a new window) This pdf will not display in your browser. They can start the application for you and arrange to get the appropriate signatures. We talk to your old bank about transferring your balance over. The account number and sort code of your existing NatWest current account. All you need to do is tell us the details of your old bank account and when you want the switch to start. After that, only certain elements can be cancelled depending how far through the process we are. The account number, sort code and debit card number of the bank account you want to switch to us; The account number and sort code of your existing NatWest current account; The Current Account Switch Service will move everything across from your old bank account to your NatWest current account within 7 working days. Limits apply. Worldwide travel insurance and airport lounge access, Cinema discount valid at over 250 UK cinemas. By starting your application, you confirm that you're giving us consent to run a credit check on you and any other people listed on your application. A Guide to Switching Current Accounts (PDF, 3MB). Switch your Business Banking AWAY from either NatWest or RBS to another approved bank, Starling in my case, and be paid by NatWest/RBS for doing it. Things change if your business has a turnover in excess of £2 million annually, for which NatWest offers a more personalised service with their Commercial account. NATWEST is offering £175 to customers switching their main bank accounts. ... Those are the basics about a NatWest business account, but for further information NatWest itself is the best place to go. NatWest/RBS Business Banking Account Switch - £4000 cashback for switching from NatWest/RBS to another bank. Any accidental payments to your old account made after the switch date will be redirected to the new account. 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"). Who is eligible for the new Current Account Switch Service. Simply log in to Online Banking at www.onlinebanking.natwest.com, click 'Need help', then 'Chat Now', or when on the mobile app, click 'Help', then 'Message Us' and ask Cora to 'change business name'. During your application, we just need your sort code, account number, as well as the debit card number of the account you want to switch to NatWest. To see how much your call might cost, visit the call charge information page. If your business will be based in Scotland, please apply with Royal Bank or give us a call on 0345 600 2230. Calls may be recorded for training and monitoring purposes. Commercial account. Please read this short summary before you continue with your application. Thanks for choosing our Start up bank account. Just remember not to set up any new payments on your old account, as we can’t transfer new payments across. The NatWest Business credit card is subject to status and for business use only. You should also be aware that your bank may keep any future credits they receive to offset any debts owed to them. Step 2. To get the cashback, current account switches need to go through the Current Account Switch Service which means the existing product will be closed. “The debit account has switched and payments cannot be made from this account.” What happens when bulk lists and templates are automatically updated on Friday 26th July as a result of Current Account Switch payment redirection? Get all the benefits of our Premier Banking service, plus: Mobile Banking app that's simple to use. All the details are in the "Ready to apply" section, which will help you to prepare. NatWest is closing my business account, HELP! If you need support, please visit one of our business pages Please make sure your Limited Company has already been registered with Companies House for at least 48 hours before starting your application with us. The Current Account Switch Service will move everything across from your old bank account to your NatWest current account within 7 working days. With a Reward account you could earn up to £9 a month for 2 Direct Debits - they need to be at least £4.50 each. For more help managing your account, please visit our Managing Your Accounts … The account number, sort code and debit card number of the bank account you want to switch to NatWest. Join Premier by opening a Premier account. To add or remove a business account signatory, you will need to complete our digital form. We expect to open sole trader accounts within 2 weeks and limited companies within 4, once all information is received. Applications for a business overdraft are subject to approval. A team from NatWest … We will  close your old account for you as part of the 7 day switching process. Tap the top right icon to bring up the account menu and select ‘Switch to Starling’. You will be able to request the switch during the online application. Mobile devices running Android or iOS are currently not supported. Switch to NatWest The Current Account Switch Service will do all the work when it comes to switching, moving everything across from your old account to your new account, all within 7 working days, including Direct Debits and standing orders. Switch to NatWest The Current Account Switch Service will do all the work when it comes to switching, moving everything across from your old account to your new account, all within 7 working days, including Direct Debits and standing orders. To apply for a NatWest Business credit card, you must be a UK resident aged 18 or over and maintain a business bank account in the same legal entity name with NatWest. If you want to cancel the switch, you need to let us know at least 7 working days before the  final date of the switch. Calls may be recorded for training and monitoring purposes. Fast - funds are credited to your account as quickly as possible.This will be either on the value date or, if this isn't possible, on the next possible value date. To find out more, simply pick the account that's right for you and when you're ready, start the online application. We know what it takes to run a business, and we’re here to help yours grow. We do this to ensure that any payments made to your old account are  automatically redirected to your new one. If your business will be based in Scotland, please apply below or give us a call on 0345 711 4477. With no annual fee for the first year (normally £30), our business credit card is great for new businesses. To receive an offer, customers must complete their switch and close their NatWest account by 30th June 2021 at the latest. If your existing card is not Contactless and you have an eligible account, you can request a new card , giving you a … Complete a Current Account Agreement Form so your new bank can set up your switch. Your registered business must be in the UK and you should be registered for tax purposes in the UK. If … Copyright © National Westminster Bank plc 2021, Lending options if your business has been affected by Coronavirus, Please choose an option below to continue, Switching to a Natwest Business bank account, Coronavirus Large Business Interruption Loan, Repayment holiday on existing business loans, Understanding your Coronavirus Business Interruption Loan, Bonds, guarantees and standby letters of credit, Hassle-free accounting software with FreeAgent, Coronavirus Bounce Back Loan Scheme (BBLS), Coronavirus Business Interruption Loan Scheme (CBILS). Cora will process the request, without needing to transfer you to a person. Minimum £100k sole income or £120k joint income paid into your NatWest account, Minimum £100k savings or investments held with us. Previous. Both new and existing NatWest customers who switch their main bank account … Even better, the deal is open to existing customers too, so even if you already bank with NatWest … Switch to NatWest The Current Account Switch Service will do all the work when it comes to switching, moving everything across from your old account to your new account, all within 7 working days, including Direct Debits and standing orders. Choose your switch date and agree to the terms and conditions. The NatWest Business credit card is subject to status and for business use only. You can switch other accounts once the new account has been opened. Pay your way; Apple Pay, Google Pay and Contactless Visa Debit Card. The fastest and most secure way to receive money from abroad. Yes, with this account you can apply for an overdraft facility. Joint accounts cannot be switched into a sole account. Applications for our Business credit card are subject to approval. If you're already a NatWest customer and have recently changed your account, there's no need to activate. Send the completed form back to: newbusinessbankingteam@natwest.com. All you need to do to get started is open a Business Current Account. To apply for any of our Premier accounts, you must be aged 18 or over and a UK resident. If an arranged overdraft limit is agreed, this may not match that offered by your old bank. The most important thing is to make sure you get the best business account possible for your business as that will help with your transactions. The best way to do this is to visit our Manage your Business Account Signatories page, where you can find the form, as well as additional information about how to add or remove signatories. Account fees With our Business Banking Switch Business Current Account, your account will be free of a monthly fee for the first 12 months. Only individuals who have a NatWest account and authorised access to Online Banking should proceed beyond this point. Business and Relationship Managers are available 9am-5pm Monday to Friday. If you are looking to change your business address, you can complete our digital Business Change Details form (opens in a new window). You can discuss applying for an additional business account. £9 a month back in Rewards for 2 Direct Debits - they need to be at least £4.50 each, £1 a month back in Rewards when you log in to our mobile banking app, Earn at least 1% at partner retailers when you use your NatWest debit card. To see how much your call might cost, visit the call charge information page. The Business Banking Switch also known as the Incentivised Switching Scheme is a scheme which makes available a range of specialist offers (e.g. Once you have opened the account, you decide when you want to start the switching process. Criteria applies. If you apply for any other credit facilities, security may be required and product fees may apply. All you need to do is tell us the details of your old bank account and when you want the switch to start. You'll need to pay at least £1250 into your NatWest account every month. To apply for a NatWest Business credit card, you must be a UK resident aged 18 or over and maintain a business bank account in the same legal entity name with NatWest. Let's get started. Your balance will then be transferred and your old account will be closed. You should have a direct number for them. We can still look after ineligible switches for you, but it will take a little longer. You get to keep your existing card and PIN. Fees apply, A programme of networking events to help your business, You're the owner or director of the business you’re applying on behalf of, Your registered business address must also be in the UK, Channel Islands, Isle of Man or Gibraltar or you should be registered for tax purposes in one of those jurisdictions, You haven't been declared bankrupt or received a County Court Judgement (CCJ) or Court Decree, Home addresses (and the date you moved there). We reserve the right to change or withdraw the start up offer without prior notice. We’ve got useful tips, business tools and welcoming communities where you can learn and thrive. The form will ask you for the email addresses of the people with signing permissions on the account. Your old account will still be active and usable right up to and including Day 6. What if my business is based in Scotland? To be 18+, a permanent UK resident and meet one of the following: During your application, we just need your sort code, account number, as well as the debit card number of the account you want to switch to NatWest. If you are overdrawn, you will need to settle the balance with your previous bank. For businesses in England or Wales, please call us on 0345 711 4477. So, you can still pay with your card, and use online banking and mobile banking. check the status of your account opening process, receive latest updates about your application, find out more about your main account and other accounts, including deposit accounts, Use the same details that you created when you applied for your business account to log in, If you haven’t already set up access to your online application centre, create a login, Current Account Switch Guarantee (PDF, 40KB), Your Guide to switching your account to us (PDF, 2.3MB). NatWest business bank accounts are part of the Current Account Switch Guarantee Scheme, so you are able to switch easily and within seven working days of making a request. It's important for you to understand how we use and share your information. For the security of customers, any unauthorised attempt to access customer bank information will be monitored and may be subject to legal action. The Start up business account is available for businesses that have been trading for less than 1 year and have a turnover of less than £1m. Then, you can depend on us to make the switch process simple and straightforward. No transaction fees for the first 18 months, 24/7 Online, telephone and mobile app banking, An overdraft if you need it (subject to approval). We also make sure that any money in your old account is transferred across to your new account. On the switch date, we’ll close your old account. In the same list of 14 business current account providers, NatWest also ranked 5th for online and mobile banking services , 8th for SME overdraft and loan services, 9th for relationship/account management, and 11th for service in branches. Please follow the instructions above. Step 1. To download the business account signatory mandate you must be using a Windows or MAC device. Before I start, I have no idea how to classify this on HKUD, so please bear with me. We may be able to provide facilities to help you pay off any overdraft, subject to our normal lending criteria. Business account charges booklet (PDF, 53KB), Summarised business account charges booklet (PDF, 46KB). Once we have everything we need for the application, we offer the following guarantee: All existing payments going out (like standing orders and Direct Debits) and those coming in (like your salary) are moved to your new account. Those who switch are then required to pay in at least £1,500 into their new account. To switch as part of Business Banking Switch, customers must have applied to open a new business current account with a participating bank by 28th February 2021 at the latest. Switch to NatWest The Current Account Switch Service will do all the work when it comes to switching, moving everything across from your old account to your new account all within 7 working days, including Direct Debits and standing orders. Your registered business must be in the UK and you should be registered for tax purposes in the UK. If your business will be based in Scotland, please download an additional account form or give us a call on 0345 307 0600. If your old account is overdrawn and the overdrawn balance isn’t settled by the day the switch completes, the account won’t close, but it will be inactive. If you choose to do this, we’ll still guide you through the process. At the end of your 18-month free banking period, you’ll move on to our Standard Tariff, with no minimum monthly charge. 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