Startup business bank account | NatWest

NatWest startup
business account

Startup package is for businesses that have been
trading less than a year and will have an annual
turnover under £1m. Offers subject to eligibility.

Business banking is available to eligible customers,
over 18, who have the right to be employed in the UK.

Start a new application

Just to double check before you continue

Please make sure you've read this important information about our 18 months free 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.

  

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.


Please now choose your type of business

(So we can tell you the type of information we may need and direct you to the right application)

Sole Trader Limited Company Partnership Limited Liability Partnership
Resume a saved application

Continue your saved online application

Recently saved your online business account application?

You can continue your application by logging back in using
the email address and password you signed up with.

Did you apply online as a Limited Company or a Limited Liability Partnership?

Right now you can only continue your online application between:
                      
                   07:00 - 23.15 Monday - Saturday
09.00 - 17.15 Sunday  

This is because one of the services we use to check your Company Details does not yet run outside these times.          

                  

Continue
Helping your startup business, get started!

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 a 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 jurisdictions.

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

Learn more about the Business Credit Card

 

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.

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 succesful, 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 18s only

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

Discover the full price comparison for business overdrafts

 

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.

Other benefits and services

Access to FreeAgent online and cloud based business accounting software

More than 50,000 small businesses and freelancers already use FreeAgent's software. It enables you to:
 

  • Manage and maintain business accounts
  • Create and send invoices
  • Track time
  • Log expenses
  • Forecast tax bills

If you get stuck at any time, FreeAgent's UK-based support team are on hand to help.
 

The service is currently free to NatWest customers. To qualify for this access you need to agree to share your FreeAgent information with NatWest. You can read more and give your permission on the FreeAgent sign up page.

Find out more about FreeAgent

Accelerate your plans with Entrepreneurial Spark

NatWest powers the world's largest free people accelerator for start-up and scale-up businesses. This helps Entrepreneurial Spark champion the UK's entrepreneurs by making them credible, backable and investable.

See how they could help

DHL Express discount

As a new or existing NatWest Business customer, you will be entitled to at least 60% off DHL Express' standard tariff for international shipping for 12 months, when you open a DHL Express account.
 

To find out more about the DHL Express offer, call DHL's Small Business Export Advisors on 0844 248 0675 or visit the DHL website. The team of Export Advisors are available to answer your questions about shipping internationally and support you  on your export journey.

Looking to switch banks?

As part of your application, you can choose to switch your existing business account to NatWest.
 

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 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
Add your signposting title here… What you’ll need to open an account

Participating providers of UK business bank accounts have agreed to a basic set of information that they will need from you to set up your UK business current account.

Find out what you’ll need to provide using the simple business banking checklist from UK Finance, the UK’s leading trade association for financial services. 

View guide
Manage your business account

Helping you get more from your business account with information on account charges, how to change signatories, our free financial health check and more.

Manage your business account

Ready to apply?

Start a new application

Please choose your type of business

Continue a saved application

Continue your saved online application

Recently saved your online business account application?

You can continue your application by logging back in using
the email address and password you signed up with.

Did you apply online as a Limited Company or a Limited Liability Partnership?

Right now you can only continue your online application between:
                      
                   07:00 - 23.15 Monday - Saturday
09.00 - 17.15 Sunday  

This is because one of the services we use to check your Company Details does not yet run outside these times.          

                  

Continue
Not sure if this is the right account for your business?
Not sure what the right business account for you is?

The below table should help you understand which one of our business bank accounts is best for your current business, based on the age of your business and what your forecasted or existing annual turnover is.

New Business
(Trading less than a year)
_______________________

 

Projected turnover of under £1m:

Startup Package

Projected or existing turnover between £1m-£2m:

Business Current Account

Projected or existing turnover of £2m or over:

Commercial Current Account

Existing Business
(Trading more than a year)
________________________

 

Projected turnover of under £1m:

Business Current Account

Projected or existing turnover between £1m-£2m:

Business Current Account

Projected or existing turnover of £2m or over:

Commercial Current Account

Support for your business

Business Matters

Women in business

Financial Health Check

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