Finance & Economics

NatWest Launches Incentives for New and Expanded Business Accounts

NatWest has developed preferential offers for UK businesses that already have or are just opening accounts with this financial institution.

NatWest Launches Incentives for New and Expanded Business Accounts

The bank offers two years of free service to customers whose business turnover is no more than 2 million pounds. Also, this offer is relevant for startups that decide to establish a commercial relationship with a lender. Another category of consumers for whom a preferential solution is relevant are companies whose business accounts are opened in several banks, but they transfer all their financial assets and resources to NatWest. The relevant information is contained in the bank’s press release, which was published last Tuesday, June 27.

The head of NatWest’s business banking division, James Holian, expressed hope that businesses will accept the offer of free banking services for two years. He noted that this preferential program is beneficial for customers since it allows them to reduce expenses and at the same time provides access to innovative tools to support small and medium-sized businesses. James Holian stressed that NatWest is the largest British financial institution serving the business environment.

With the help of the bank’s new offer, customers will be able to save an average of 2,000 pounds over two years. This indicator varies depending on the turnover of the business and the pace of transactions.

The offer applies to businesses that transfer to a NatWest Business checking account. The presence of this account means its owner access to an online accounting tool, to the Business Builder platform, which also contains tools and provides tips on various issues, and to the MentorDigital employment manual and other legal issues. The relevant information is contained in the press release of the financial institution.

James Holian says that the main value of the offer lies not in the opportunity to save money but in the extensive business experience and support tools that the bank provides to small and medium-sized enterprises to help them expand their activities and develop successfully.

In March, NatWest established a partnership with identity service provider OneID. This cooperation is aimed at launching a digital identification service for businesses. As part of the partnership program, the financial institution was able to create a new service for exchanging attributes, existing in the format of an embedded solution that provides corporate clients with access to banking data to simplify the online registration process.

In February, NatWest acquired the FinTech company Cushon, which provides savings accounts and pensions. As a result of this transaction, the financial institution provided new financial well-being services to commercial clients.

As we have reported earlier, NatWest to Let UK Merchants Accept Contactless Payments on Android Smartphones.

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.