Switching your startup | NatWest Business Banking

Business Banking is available to those aged 18 or over

Our startup package is available to businesses that have been trading less
than a year and have a projected, or existing, annual turnover under £1m

Switching your business to NatWest

How does switching work?


What we need you to do

We've tried to break down what you need to do in to a number of steps:

Step 1: Deciding if NatWest is right for you

This is important (and we hope we are right for you!). You can find more about the accounts and services we provide on the rest of this page.

Step 2: Applying

Complete an application, either online or over the phone, making sure you notify us that you're intending to switch your existing business account to NatWest. (Your existing business account details will be required)

Step 3: Deciding the type of switch

As part of your application, we will ask you to give us a call to talk through your switch, where we will complete a switcher option checklist with you. This will help determine whether the Full Current Account Switch Service is your best option, or if a partial switch may be more suitable.

Additionally, we will let you know any additional steps you need to take or ID you may need to provide.

What's a partial switch?

This is where your old account would remain open, after your new NatWest account has bene opened.


What we do

What we do depends on the type of switching service that was decided, as part of your discussion on account switching.


Full Current Account Switch Service

Once you've successfully opened your new NatWest Business Current Account, under the Full Current Account Switch Service option, we can switch your account within seven working days.


  • You pick your own switch date - Once everything is ready to go, we'll then transfer all existing Standing Orders and Direct Debits for that date, to your new NatWest account

  • We'll send a switch request to your old bank to close the old account. And, if you'd like us to, we'll transfer any surplus funds to your new NatWest account.

  • There will be updates provided by us along the way, telling you how your switch is progressing. We'll also contact you, to let you know how to set up any new required bill payments

  • Under the Current Account Switch Guarantee, all payments accidentally paid in to your old account will be forwarded and redirected to your new account for 36 months after completion of the switch

    If anything goes wrong with the switch that impacts your old or new current account. in terms of interest paid/lost or in relation to certain charges being incurred, as soon as we hear about it and undertake a few checks, we will try to refund you wherever we can.

Learn more about the Current Account Switch Service


Partial switching

If you still want to keep your old bank account open, we'll make all the necessary arrangements to move your regular payments to your new NatWest account, by setting up your existing Standing Orders and Direct Debits.

  • Within 10 working days of approving your application, your new account will be up and running and we'll order you a cheque book, debit card and PIN (if requested).

  • We'll provide you with letters to help you arrange for any regular credits you receive, such as VAT payments, to be redirected automatically to your new NatWest account.

  • We'll liaise with your old bank to arrange for the transfer of any surplus funds.

  • We'll contact you to confirm that any funds have been transferred and that your Standing Orders and Direct Debits have been successfully transferred or set up on your new NatWest account

  • Partial switching is not covered by the Current Account Switch Guarantee


Why NatWest might be better for your startup

18 months free business banking

What do we mean by free banking?


Most banks charge a service charge for the day to day running of a business account.

With our startup offer, there are no charges for the day to day running of your business current account, so that means you wont be charged a 'service charge'.

The free banking starts from the date your account is opened for 18 months.


What isn't included?


Charges for “Unarranged Borrowing”, “Additional Services” & “Bankline Charges” are not part of the free banking offer.


What happens when the 18 months free banking is up?


At the end of your free banking period, you will automatically go on to the Standard Published Tariff.

If your business needs change in the 18 months, you can always talk to us, about some of the alternative charging options we have too.

No annual fee for the NatWest Business Credit Card for the first 12 months

This offer applies to UK businesses when an NatWest Business Credit Card application has been made within 6 months of opening your Business Current Account.


  • The annual fee is normally £32 per each card issued

  • To apply for the NatWest Business Credit Card, you must be a UK resident aged 18 or over.

  • 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 juridictions.

  • NatWest Business Credit Card is subject to status and for business use only

Learn more about the Business Credit Card

You could also apply for an arrangement fee-free overdraft facility of £500

To give you the option of some extra help with your cash-flow, our startup package gives you the chance to apply for an overdraft when you're opening your business current account (if you're eligible).


If you applied for a £500 limit and were successful, there wouldn't be an arrangement fee for the first 12 months. Typically this would be £50.


Important information

For the £500 overdraft startup offer - we do charge interest on monies borrowed at a fixed rate of 6.5% for the

initial agreement period (subject to status).


  • Overdraft facility is subject to application and approval.

  • Overdrafts are for over 18's only

  • £50 annual fee applies after the 12 month period subject to agreement on renewing overdraft




Applications for our fee free business credit card or £500 overdraft offer, are subject to approval
and NatWest reserves the right to change or withdraw the startup offer without prior notice.

If you apply for any other credit facilities, security may be required and product fees may apply.


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