Electronic payments | NatWest

Electronic payments

The fast and secure way to transact in the global marketplace

Why use electronic payments?

Make swift and secure payments to overseas suppliers and buyers. You can pay or be paid in advance, on delivery or after receipt. You can accept sterling and non-sterling payments. We offer Standard Transfer and Urgent Transfer. Each suits different payment, destination and timescale needs - giving you the speed and security that you require.

Transparent timescales

Stay fully informed on when funds should reach your beneficiary.

Secure payments

Electronic bank-to-bank links offer your business security and reliability.

Convenience

Make and process payments yourself or visit your local branch.

Ways to make electronic payments

There are two ways to make electronic international payments – Standard Transfer and Urgent Transfer. You can pay almost any amount, in most currencies, to most countries across the globe.

 

Standard Transfer

Timescale

  • payments should reach your beneficiary within four working days 
  • payments to EU countries (plus Norway, Iceland, Switzerland, Monaco, San Marino and Liechtenstein) could be quicker

Cost via your local branch

  • payments to EU via SEPA: £10
  • payments to the rest of the world: £22

Urgent Transfer

Timescale

  • payments should reach your beneficiary within two working days

Cost via your local branch        

  • £30

How to make electronic payments

You'll need to provide the following information in order to make Electronic Payments. (Please note: Norway, Iceland, Switzerland, Monaco, San Marino and Liechtenstein are treated as EU countries.)

 

To EU countries

  • beneficiary's name 
  • beneficiary's SWIFT BIC (unique Bank Identifier Code) 
  • beneficiary's International Bank Account Number (IBAN) 
  • charges should be shared between sender and beneficiary

Rest of the world

  • beneficiary's name 
  • name and address of beneficiary's bank 
  • beneficiary's SWIFT BIC (unique Bank Identifier Code) 
  • beneficiary's IBAN 
  • the charges you'll be paying - Our charges only, all charges or beneficiary to pay all charges 
  • purpose of payment (country and currency dependent)
Receiving electronic payments

Asking your customers to pay electronically improves the efficiency of your transactions.

Easy payments

Simply provide your customer with your IBAN number (found on your bank statement), our SWIFT address (NWBKGB2L), our full bank name (National Westminster Bank Plc) and your account name.

Predictable fees

£1 charge for payments up to £100 (or equivalent). £7 charge for payments over £101 (or equivalent). Fees are deducted from your payment.

Funds are available quickly

Your funds will be available on the value date or the next best possible value date.

Automatic currency conversion

Most payments are converted to the currency of your account. Let us know prior to payment if you don’t want this to happen.

Related products and services

 

IBAN

IBAN is an internationally agreed method for transactions between banks globally. This lets foreign banks check the validity of your bank account number.

Find your IBAN

SEPA

SEPA creates a series of common standards, rules and payment processes for making payments across the Eurozone.

More on SEPA

Bankline

Take control of your finances on a single, secure platform – anytime, anywhere, with our online cash management tool.

More on Bankline

Get in touch

 

New customers

To discuss your unique banking needs, please call SolutionsLine on:

0800 210 0235
Text Relay 18001 0800 210 0235
Mon to Fri 9am-5.30pm (excl. public holidays)
Calls may be recorded.

Existing customers

Please contact your relationship manager.

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