Advantage Business Current Account
Fixed monthly fee and a host of extras
With Advantage Business, you pay a fixed monthly fee so you always know what the cost of your business banking will be.
Designed for new and established businesses with turnover up to £250,000.
Fixed cost business banking
With Advantage Business you pay a fixed monthly fee, irrespective of the number of transactions. This account is useful if you have a variable number of monthly transactions, and want the certainty of known charges.
Dedicated support
You'll be supported by one of our Relationship Managers - dedicated to helping you make your business a success.
How much does it cost? The monthly fee is just £25 if your annual turnover is under £100,000 and £55 if it’s between £100,000 and £250,000.
Easy account opening Whether you’re starting your first business, upgrading your account or switching from another bank, we help make it easy for you. You can apply online or at your local branch.
Switching made easy For established businesses, our dedicated switching team will help you every step of the way.
With Advantage Business, you and your business could enjoy a range of additional benefits.
Banking benefits
Tailored loan rates
Enjoy a 1% APR discount off the standard Small Business Loan rates, for borrowing up to £25,000. Security may be required.
Tailored savings rate
Benefit from a better interest rate on your business savings.
Credit and charge card discounts
£10 off your business MasterCard annual fee for both main and additional cardholders.
Business benefits
Asset finance discounts
No facility fee on the first vehicle finance facility arranged by Lombard. Any other assets financed by Lombard will benefit from a discounted fee. Not applicable to existing Lombard customers.
Card acceptance
If you collect payments using credit and debit cards online, we’ll give you a 25% discount on our card payment processing service when you open a Worldpay Internet merchant account.
Mobile phone credit
You'll get a £50 bill credit for every mobile phone connection and upgrade with Vodafone.
Discounted Mentor fees
Our Mentor service helps you cut through red tape in key business areas. You can enjoy a 5% discount on a 3 year Mentor Employment Law or Health and Safety contract.
Lifestyle benefits
Life assurance discounts
5% premium reduction for life assurance and life assurance with critical illness cover.
Breakdown cover
Save up to £33 per year with Green Flag's Roadside Assistance.
Personal banking discounts
Choose Advantage Gold for your personal banking, and you’ll pay just half the usual Advantage Gold fee (normal monthly fee £12.95) – and enjoy a range of benefits and discounts for you and your family.
Travel insurance
Choose Advantage Gold for your personal banking, and upgrade your travel insurance cover to include business as well as personal travel.
You can enjoy considerable savings if you take full advantage of Advantage Business.
| Benefit | Potential savings |
|---|---|
| Tailored small business loan rates | £137.50 |
| Tailored savings rate (per year) | £125 |
| Business Card discounts | £10 |
| Asset finance discounts | £250 |
| Life assurance discounts (over the term of the policy) | £93.60 |
| Card acceptance (based on a 1 year contract) | £36 |
| Mobile phone credit (per connection) | £50 |
| Breakdown cover (per year) | £33 |
| Travel insurance (per year) | £30 |
| Mentor fees (off 3 year contract) | £286.20 |
| Personal banking discounts (per year) | £78 |
Small Business Loan Rate
Annual saving based on loan amount of £25,000 over 5 years. Security may be required.
Business MasterCard
£10 off the annual card fee of each Business Card, normally £32.
Asset finance
The facility fee of £250 will be waived for the first deal transacted for a road-going vehicle. For any other type of asset, it will be discounted.
Life Assurance
Saving based on a non-smoking male aged 30, taking out a 15 year level term assurance, accepted at standard rates.
Card acceptance
Saving based on 25% discount on a 1 year Streamline Online contract at £144 per year.
Travel Insurance
To qualify for the upgrade on travel insurance, the customer must have an Advantage Gold personal account (normal monthly fee of £12.95).
Advantage Gold
Please refer to NatWest personal banking for a full breakdown of savings for Advantage Gold personal account customers. 50% discounted Advantage Gold fee applies to a maximum of four directors or owners per business.
Monthly fee
- £25- annual turnover up to £100,000
- £55- annual turnover from £100,000 to £250,000
If you have to pay account charges in any of the charging periods shown below (left hand column), we will debit them from your account on the dates in the right hand column.
| Monthly charging periods | Date debited from your account |
|---|---|
| 3 October – 30 October 2009 | 30 November 2009 |
| 31 October – 4 December 2009 | 31 December 2009 |
| 5 December – 31 December 2009 | 29 January 2010 |
| 01 January – 29 January 2010 | 26 February 2010 |
| 30 January – 26 February 2010 | 31 March 2010 |
| 27 February – 01 April 2010 | 30 April 2010 |
| 02 April – 29 April 2010 | 28 May 2010 |
| 30 April – 28 May 2010 | 30 June 2010 |
| 29 May – 02 July 2010 | 30 July 2010 |
| 03 July – 30 July 2010 | 31 August 2010 |
| 31 July – 03 September 2010 | 30 September 2010 |
| 04 September - 01 October 2010 | 29 October 2010 |
| 02 October – 29 October 2010 | 30 November 2010 |
| 30 October - 03 December 2010 | 31 December 2010 |
| 04 December - 31 December 2010 | 31 January 2011 |
Charges for additional services
| Service | Charge |
|---|---|
| Autopay monthly service fee | £2 per month |
| Autopay payments | 50p per payment |
| Autopay library insertions/amendments | £4 for each insertion/amendment (min fee of £20 and max fee of £100) |
| Autopay non standard processing fee | £10 for each reason, on each occasion, up to a total of £20 for each instruction |
| Night safe wallet usage | £2 per occasion lodged |
| Statements, returned cheques inwards and letters about your loans or overdraft | no charge |
| Stopping payment instructions (eg. cheque 1) | £10 |
| Obtaining a special cheque clearance | £15 |
| Credit opened | £12 to set up |
| Duplicate records (eg. copy of statement) | £5 |
| Certificates of balance | no charge |
| Business audit certificates | £27.50 plus VAT (free for clubs, societies and charities) |
| Banker's opinion | £7.24 plus VAT |
| CHAPS | £23 (to pay into another UK bank) £21 (to pay into another NatWest branch) |
| Banker's draft | £12 each |
Charges for other services are available on request.
Advantage Business interest rates
Effective from 19th March 2009
| Gross rate % | AER % | Net rate % | |
|---|---|---|---|
| £0 - £1,999 | 0.05 | 0.05 | 0.04 |
| £2,000 - £9,999 | 0.05 | 0.05 | 0.04 |
| £10,000 - £24,999 | 0.05 | 0.05 | 0.04 |
| £25,000 - £99,999 | 0.05 | 0.05 | 0.04 |
| £100,000 - £249,999 | 0.05 | 0.05 | 0.04 |
| £250,000+ | 0.05 | 0.05 | 0.04 |
Annual Equivalent Rate (AER) illustrates what the interest rate would be if paid and compounded each year.
Net is the interest rate paid after the deduction of tax.
Unarranged borrowing
Customer's returned items
Unpaid Item Fee
An Unpaid Item Fee of £35 (subject to a maximum of £140 per day) will be payable if:
- you informally request an overdraft by issuing instructions for a withdrawal or other payment; and
- the payment cannot be met from the funds in your account or any unused arranged overdraft; and
- we decide in our discretion not to make the payment. The fees are charged on the day we decide not to make the payment.
Paid Referral Fee
A Paid Referral Fee of £30 will be payable if:
- you informally request an overdraft by issuing instructions for a withdrawal or other payment; and
- the payment cannot be met from the funds in your account or any unused arranged overdraft; and
- we decide in our discretion to make the payment so that an unarranged overdraft is created or increased.
1Unless the cheque is lost or stolen
Apply now
Call us on
0800 096 8334
Minicom
0800 404 6161
Lines are open: Mon to Fri
8am-7pm (excl. public holidays).
Calls may be recorded