Electronic Payments
Electronic payments are the fastest and most secure way to receive currency and sterling payments from abroad and currency payments within the UK.
Key benefits:
- Improve cash flow - funds are received from abroad as quickly as possible. This will be either on the value date requested or, if this is not possible, on the next best possible value date
- Eliminate paper work - cut the administration involved in handling paper-based payments
- Automatic conversion - if the currency of the payment doesn’t match the currency of your account, we automatically convert sums of under the equivalent of £20,000
What the sender needs to do
The company paying you needs to tell their bank to send the payment instruction to NatWest. To do this, the sender will need the following information:
- Our name in full: National Westminster Bank Plc
- Our SWIFT address: NWBKGB2L
- Your account name and IBAN - International Bank Account Number
This is included in your statement.
How much does it cost?
Payments up to £100 or currency equivalent cost £1. Payments over this amount cost £7 each.
We take these fees from your principal amount before we credit your account. We will send you a credit advice showing a breakdown of our charges.
Other costs
The charges on this page do not apply where another bank receives sterling from overseas and passes the funds to our customer via the UK clearing system. In this case the receiving bank will levy its own charges.
Find out more
If you are a NatWest corporate customer, contact your Relationship Manager.