Switch to a NatWest business bank account

You can find more information on the Current Account Switch Service website.

You’ll need to:

•  complete one of our business account applications and tell us you’re switching (where it asks)
•  provide 6 months statements from your existing business current account

We’ll validate your application the day we receive it, and if we have all the information we need, we’ll start your switch process.

If we need more information to start the switch, we’ll get in touch with you.

The criteria for the two Switch Services are different.

Full Account Switch

Your entity needs to be a small business:

• with an annual turnover and/or balance sheet total under £6.5m, and less than 50 employees, or
  
• a charity with an annual income of less than £6.5m, or
• a trust with a net asset value of less than £6.5m.

You also need to make sure that you do not have any outstanding security on your old account.

Partial Account Switch

This is when you:

• aren’t eligible for a Full Account Switch
  
• met the eligibility criteria for a Full Account Switch but choose a Partial Switch instead (maybe because you wanted up to 90 days to switch, or you wanted to choose which Standing Orders and Direct Debits to transfer, for example)
• opted for a Full Switch but still hold security at your old bank so you don’t meet the Full Switch criteria

• It’s free to use.
• It’s backed by the industry-wide Current Account Switch Guarantee, which ensures that in the unlikely event that something goes wrong, any bank charges would be fully refunded.
• Your switch will be completed within 7 working days.
• You can choose a switch date – so the switch from your old bank to us will take place on an agreed day.
• All existing Standing Orders, Direct Debits and future-dated payments will be transferred across as part of the switch.
• Your old account will be automatically closed and any balances transferred.
• All your payments are redirected once your switch is complete. This catches any stray payments that might be accidentally made to the old account after your switch is complete.

• It’s free to use but isn’t backed by the Current Account Switch Guarantee.
• Your switch must be completed within 90 days.
• Your Standing Orders and Direct Debits will all be transferred, unless you choose which specific ones you’d like to transfer.

Sole traders:

If you’re starting a switch, your Debit card with your old bank needs to be:

• active
  
• not a cheque charge card or credit card
• cancelled if it’s lost or stolen

A number of different things could prevent your switch from happening, such as; you haven’t met all the switching criteria, or if you’ve given the wrong details about your old account.

You can check if your current bank is part of the Current Account Switch Service on their website.