Provider review
NatWest Business
A full-service high-street account with free FreeAgent thrown in — and an awkward relationship with Mettle, the free account NatWest also owns.
Who holds your money
National Westminster Bank plc, holder of a full UK banking licence, authorised by the PRA and regulated by the FCA and PRA.
Eligible deposits protected up to £120,000, shared across NatWest Group brands including RBS, Ulster Bank and Mettle.
Verify the firm reference number on the FCA Financial Services Register before relying on this.
Scorecard
Seven criteria, each weighted. Every score below says what drove it.
Joint 4th for online and mobile banking at 74%. The only high-street bank in the published top five.
A full FreeAgent subscription free across the range, plus the usual high-street lending.
FSCS to £120,000, shared with RBS, Ulster Bank and Mettle.
Free introductory period, then a tariff with an electronic payment allowance and per-item charges above it.
0.85% AER with no plan fee to reach it, worth about £213 a year on £25,000.
Branch and Post Office cash, cheques, and an electronic payment allowance.
Broad, with standard high-street exclusions.
Weighted total 3.6 / 5. Weightings published on how we rate.
Service quality evidence
| Overall service quality | 9th, 61% |
| Online and mobile banking | Joint 6th, 73% |
| Relationship management | Joint 9th, 60% |
Independent survey of around 1,200 SME customers a year per provider, conducted by BVA BDRC (now part of Ipsos) and published by the CMA in August 2026. All 17 surveyed providers are ranked; a provider shows as not ranked only where it does not offer the service or fewer than 100 of its customers gave an eligible score.
Interest on balances
Verified from provider site| Rate on the free tier | 0.85% |
| Best sustainable rate | 0.85% |
| Extra cost to reach it | None |
| Access | Instant access |
| Net on £25,000 | £213 |
Business Reserve instant access pays 0.85% to 1.46% AER, tiered by balance — and the bands are enormous, so anything below £1m earns the bottom rate of 0.85%. Liquidity Manager notice accounts pay 2.00% (35 day) and 2.50% (95 day), which is nearly three times the instant rate for money you can plan around. Verified against natwest.com, 5 August 2026.
Affiliate note
Where we hold a commercial arrangement with a provider, this box says so and every link on the page is marked. Commission never affects the score or the ranking.
Fees are checked against the provider’s published tariff. If a page has not been re-checked within 60 days, it says so at the top.
The verdict
NatWest's business banking includes a free FreeAgent subscription across the range, which is a more valuable inclusion than most banks' entire feature lists. FreeAgent handles Making Tax Digital properly, and having it bundled removes a recurring cost that most small businesses otherwise pay separately.
Beyond that, this is a conventional high-street proposition: branches, cash and cheque handling, overdrafts, loans, and a relationship team. New businesses get an introductory free banking period, after which the standard tariff applies.
The genuinely interesting question is Mettle. NatWest owns it, it is permanently free, and it comes with the same FreeAgent inclusion. For a sole trader or small limited company paid by bank transfer, Mettle is the better NatWest product — and it costs nothing. NatWest's own account earns its fee only when you need what Mettle refuses to do: cheques, international payments, cash at volume, or credit.
So the honest recommendation is to start by asking whether Mettle covers you. If it does, take it. If it doesn't, NatWest is a solid full-service account with an unusually good software inclusion.
Who it suits
- Businesses needing cash, cheques or lending that Mettle cannot handle.
- Anyone who wants FreeAgent included and needs a full-service account.
- Established SMEs wanting a relationship team and branch access.
Who should look elsewhere
- Simple sole traders. Mettle gives you the same bank and the same software for nothing.
- Cost-focused digital businesses. Starling is free permanently.
Every tier, priced
What each plan includes, and what the step up actually costs over a year.
| Plan | Monthly | Per year |
|---|---|---|
| Business Current Account (new businesses)Free FreeAgent, branch and app access, overdraft and lending on application, cash and cheque handling. | Introductory free period, then tariff | Verify current tariff |
| Business Banking (established)Full-service account with relationship support, priced by transaction activity. | Standard published tariff | Verify current tariff |
| MettleNatWest's free app-only account. Separate product with its own eligibility rules — see the Mettle review. | £0 | £0 |
Pricing must be verified against the provider's own site before publication. Providers reprice without notice.
The fees that are not in the headline
The monthly fee is what gets advertised. These are the charges that decide what you actually pay.
| Charge | Cost | Who it affects |
|---|---|---|
| Monthly account fee | Introductory free period, then tariff | Everyone once the intro period ends. |
| Cash paid in | Per £100 | Retail and hospitality. |
| Electronic payments | Free allowance, then per item | High-volume payers should check the allowance. |
| Cheques | Per item | Cheque-heavy sectors. |
| FreeAgent accounting software | Included | Everyone. Worth a meaningful annual saving. |
Applying
Sole traders and single-director companies under a turnover threshold can often apply in-app and complete quickly. More complex structures go through a longer process.
Standard documentation applies: photo ID, proof of address, Companies House details, and a description of the business and its expected turnover.
Where applications fail
- Group-level sector appetite — NatWest applies exclusions across all its brands, so a Mettle decline often predicts a NatWest one.
- Companies House mismatch — the register must match your application.
- Overseas directors or shareholders — adds significant friction.
- Unclear income source — be specific about who pays you and for what.
Alternatives worth costing
- Mettle — The same bank, permanently free, with the same FreeAgent inclusion — if you fit its narrow scope.
- Barclays Business — Comparable high-street account with a larger branch network.
- Starling Business — Free, with an overdraft and cheque imaging.
NatWest questions
Should I choose NatWest or Mettle?
If you are a sole trader or small limited company paid by bank transfer, Mettle is the better choice — it is the same bank, permanently free, with the same FreeAgent inclusion. Choose NatWest when you need cheques, international payments, cash at volume or credit, none of which Mettle supports.
Does NatWest really include FreeAgent for free?
Yes, free FreeAgent is included across the NatWest business range, subject to account conditions. It is one of the strongest software inclusions from any UK bank.
Is a NatWest business account FSCS protected?
Yes, up to £120,000 per eligible depositor. That limit is shared across NatWest Group, including RBS, Ulster Bank and Mettle.
How much does a NatWest business account cost?
New businesses get an introductory free banking period, after which the standard tariff applies with charges for cash handling and, above an allowance, transactions. Verify the current tariff on NatWest's site before applying.