Electronic payments
Electronic payments
When your business needs to receive currency and sterling funds from abroad and within the UK, our electronic payments solution is a fast and secure option.
You get high levels of reliability and security, and you can:
- Enhance your cash flow, as funds are received from abroad as quickly as possible
- Eliminate the paper-work involved in handling paper-based payments
Funds will be credited to your account as soon as possible. This will be either on the value date or, if this is not possible, on the next best possible value date.
Automatic currency conversion - most payments will be automatically converted to the currency of your account. If you do not wish us to convert the payment, please contact us prior to the payment being sent.
How to receive funds electronically
In order to receive funds electronically and in the shortest possible time, ask the sender to ask his/her bank to send the payment instruction to NatWest. To do this the sender will need the following information:
- Our name in full i.e. NatWest plc
- Our SWIFT address: NWBKGB2L
- Your account name and IBAN (International Bank Account Number)
Cost
- Payments up to £100 or currency equivalent are charged at £1.
- Payments for over £100 or currency equivalent are charged at £7 each.
- Our fees are debited from the principal amount before we credit your account. We will send you a credit advice showing a breakdown of our charges.
These charges do not apply where another bank receives sterling from overseas and passes the funds to our customer via the UK clearing system; in that case the receiving banks will levy its own charges.
International payments comprise both cross-border payments, whether in sterling or currency, and currency payments within the UK
