Business Account Overseas Money Transfer Options – NatWest Bank
NatWest Bank overseas business payments may have associated charges and fees which you can avoid when making corporate money transfers. If your business has overseas payments to manage, a regular foreign payroll to make, or overseas earnings to repatriate, NatWest business clients should consider using a currency transfer specialist to help save money and automate these processes.
| NATWEST BANK | MIN. TRANSFER | SPEED | *GUIDE RATES | INFORMATION |
|---|---|---|---|---|
| GBP £ - to EUR | NO MINIMUM | 5/7 DAYS | €1.149 | MORE DETAILS |
| GBP/EUR (BROKER RATES) | FROM £100 | 1 DAY | €1.196 | MORE DETAILS |
| EUR € - to GBP | NO MINIMUM | 5/7 DAYS | £0.792 | MORE DETAILS |
| EUR/GBP (BROKER RATES) | FROM £100 | 1 DAY | £0.824 | MORE DETAILS |
| GBP £ - to CHF | NO MINIMUM | 5/7 DAYS | Fr 1.071 | MORE DETAILS |
| GBP £ - to CZK | NO MINIMUM | 5/7 DAYS | Kc 28.853 | MORE DETAILS |
| GBP £ - to DKK | NO MINIMUM | 5/7 DAYS | kr 8.575 | MORE DETAILS |
| GBP £ - to HUF | NO MINIMUM | 5/7 DAYS | Ft 475.618 | MORE DETAILS |
| GBP £ - to NOK | NO MINIMUM | 5/7 DAYS | kr 13.573 | MORE DETAILS |
| GBP £ - to PLN | NO MINIMUM | 5/7 DAYS | zl 4.895 | MORE DETAILS |
| GBP £ - to SEK | NO MINIMUM | 5/7 DAYS | kr 13.229 | MORE DETAILS |
Transfer exchange rates are calculated and updated hourly (Monday to Friday) from 8 am to 4 pm UK – GMT
NatWest Business Account – General Fees
NatWest Business Account fees apply to a range of services offered to business customers. The general fees of a NatWest Business Account include charges for monthly account maintenance, debit card usage, cheque books, and cash deposits. Some of these fees can be waived if certain conditions are met, such as maintaining a certain minimum balance or using digital banking services. Additionally, NatWest offers various other services that may incur additional fees, such as international payments and overdrafts. It is important for business owners to review the fee schedule carefully to understand the costs associated with their NatWest Business Account.
NatWest Business Account – International Charges
The NatWest Business Account is a popular choice for entrepreneurs and business owners across the UK, offering a range of features and benefits to help manage finances efficiently. However, those who conduct international transactions should be aware of the associated charges. NatWest applies fees for international payments, including currency exchange rates and transaction fees, which can add up quickly for frequent users. It’s important to carefully review the terms and conditions of the NatWest Business Account and consider alternative options if international payments are a significant part of your business operations.
NatWest Bank – International Business Exchange Rates
NatWest Bank offers international business exchange rates to help businesses conduct transactions with foreign companies. These exchange rates are updated regularly to ensure that businesses can make informed decisions when dealing with international partners. NatWest Bank’s foreign exchange specialists are available to provide expert advice and support to businesses, helping them to navigate the complexities of global currency markets.
With a range of products and services designed to meet the needs of businesses of all sizes, NatWest Bank is committed to providing its customers with the best possible support for their international trade activities. However, business owners may want to explore alternative options if they frequently conduct international business and want to minimise transfer fees and charges, whilst attaining the very best foreign exchange rates when making or receiving payments in other currencies.
NatWest Bank and SEPA (Single Euro Payments Area)
SEPA (Single Euro Payments Area) rules are written around the euro currency, general EU banking laws and do not take into account the actual currency conversion or money transfer exchange rates, which is what happens when money is transferred into or out of the euro zone. European banks including NatWest Bank can still charge anything they like for that service, irrespective of SEPA.
The aim of SEPA is to make payments in euro and across Europe as fast, safe and efficient as UK payments are today. On the downside, all banks (NatWest Bank included) will still charge their own foreign exchange margin rate to the transaction.
Example: NatWest Bank SEPA Business Transfer
A NatWest Bank SEPA business currency transfer (NatWest Bank to an external bank brand) from UK pounds to the euro has a commission fee capped at £2.00 on the actual transaction, however the transfer amount sent has a 4.6 percent exchange rate margin applied, which is deducted on the total amount received. This is far from the best business money transfer deal on the market. Moreover, SEPA payments can take longer to complete than transactions via a currency transfer specialist.
For businesses who transfer regular amounts overseas to make payments in the euro or other popular European currencies, using a currency broker is a money saving decision if your monthly transfers exceed £250. For smaller amounts you’ll have to continue using NatWest Bank service.
For further information regarding NatWest Bank overseas business exchange rates, business account international payment fees, charges and SEPA, you could ask a currency transfer specialist which options you have available for your business payment requirements, or contact your local branch’s NatWest Bank Business Manager directly.
