Barclays vs NatWest for business banking

Updated on 7 August 2023

Barclays and NatWest are two of the UK’s largest and most well-known banking institutions. Both offer a wide range of services targeted at businesses of all sizes, from start-ups to large corporations. Making the choice between Barclays vs NatWest for business banking can be a daunting task.

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This article is designed to provide an in-depth comparison, covering key aspects such as features, pros and cons, fees and charges, and unique offerings. It should help business owners decide which banking provider best meets their needs.

Video: Choosing a business bank account

Barclays vs NatWest

Business current account
Online banking
Mobile banking
International banking services
Business loans
Overdraft facilities
Credit cards
Cash management services
Invoice finance
Merchant services
Business savings account
Insurance services
Business mortgage
Business financial advice
Payroll services
Sector-specialist advice
Support for start-ups
Business training and events
Sustainable banking options
Dedicated relationship manager
Barclays vs NatWest

Wallester Business
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Revolut Business
✓ Business Current Account
✓ Award-Winning Mobile App
✓ Quick & Easy Application Process
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Tide Business Bank Accounts
✓ Free, Plus, or Pro Account
✓ iOS & Android Mobile App
✓ Upload & Auto-Match Receipts
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Card One Money
✓ No Credit Checks
✓ Simple Fees
✓ Up To 3.5% Cashback
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ANNA Money
✓ Apply In 10 Minutes
✓ Bookkeeping & Payroll Tools
✓ User-Friendly Mobile App
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HSBC Business Banking
✓ Business Current Account
✓ In-Branch, Online & App Banking
✓ FSCS Protected
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Metro Business Banking
✓ Business Current Account
✓ High Street Presence
✓ FSCS Protected
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Mettle Business Banking
✓ Business Bank Account
✓ Online & App
✓ Quick & Easy Application Process
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Monzo Business Banking
✓ Business Current Account
✓ Dedicated mobile app experience
✓ FSCS Protected
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Virgin Money
✓ Business M Account
✓ In-Store, Online & App Banking
✓ Insights & Forecasting Platform
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Barclays has a longstanding reputation for offering extensive business banking services. Their business banking is designed with the intent to support businesses at every stage of growth, offering a comprehensive range of products and services.

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Pros and cons


  1. Strong Digital Capabilities: Barclays has an award-winning mobile app and online banking platform which offer a variety of features such as customisable reports and interactive charts.
  2. Extensive International Services: Barclays has a significant international presence which makes it a great option for businesses that require global banking services.
  3. Innovative Products: Barclays continually invests in introducing innovative products like SmartBusiness Dashboard, which offers insights to help manage and grow a business.
  4. High Street Presence: Barclays maintains a significant physical presence with branches throughout the UK.


  1. Fee Structure: Some users may find Barclays’ fees higher compared to other banks.
  2. Customer Service: While Barclays generally offers good customer service, there have been occasional complaints about wait times and response times.

Table of fees and charges

Monthly account maintenance£6.50
Automated payments (Direct Debits, Standing Orders, etc.)£0.35 each
Electronic payments (UK)£0.35 each
Cash payments (deposits and withdrawals)0.60% of value
Cheques paid in or out£0.65 each
Non-automated transactions (e.g. CHAPS)£15 each
Non-Sterling transactions2.75% of transaction value
Barclays fees and charges

Please refer to Barclays’ official website or your business account agreement for the most accurate and up-to-date information on fees and charges.

Unique and standout features

Barclays’ unique and standout features lie predominantly in its digital capabilities and innovation. The Barclays Mobile Banking app is considered one of the best in the market, offering a plethora of features like digital receipts and invoice management.

Another standout feature is the SmartBusiness Dashboard which allows businesses to see their financial and non-financial data in one place. This tool can integrate data from different platforms like Google Analytics, Twitter, and QuickBooks, thus providing valuable insights.


NatWest is a household name in the UK, offering a wide variety of banking services for businesses. They provide a comprehensive suite of financial products, along with specialist sector knowledge.

Pros and cons


  1. Free Banking Period: NatWest offers an attractive initial free banking period for new businesses.
  2. Excellent Customer Support: NatWest is known for its outstanding customer service, including a UK-based call centre and 24/7 customer support.
  3. Wide Range of Products: NatWest offers a comprehensive suite of banking products and services, including specialist sector advice.
  4. Entrepreneurial Network: NatWest runs Entrepreneur Accelerator hubs around the UK, offering mentoring, insight, and networking opportunities.


  1. Limited International Services: Compared to Barclays, NatWest has a limited presence outside of the UK.
  2. Online Banking Interface: Some users have reported that the online banking interface is less intuitive than other banks.

Table of fees and charges

Monthly account maintenance£5
Automated creditsFree
Automated debits£0.35 each
Electronic payments (UK)£0.35 each
Cash payments (deposits and withdrawals)£1.00 per £100
Cheques paid in or out£0.70 each
Non-automated transactions (e.g. CHAPS)£20 each
Non-Sterling transactions2.65% of transaction value
NatWest fees and charges

Please refer to NatWest’s official website or your business account agreement for the most accurate and up-to-date information on fees and charges.

Unique and standout features

NatWest’s unique offerings include their free banking period for new businesses, providing significant financial relief during the initial, often challenging, stages.

Another standout feature is the NatWest Entrepreneur Accelerator, a fully-funded programme offering mentoring, insight, and free co-working space, supporting start-ups and scale-ups across the UK.

Conclusion – Barclays vs NatWest

Both Barclays and NatWest have unique strengths, and the choice between them largely depends on your specific business needs.

If you require robust international banking services and a strong digital platform, Barclays may be more suitable.

If you are a new business looking for initial free banking and excellent customer service, NatWest might be the better choice.

Additionally, NatWest’s Entrepreneur Accelerator can provide substantial support for start-ups, while Barclays’ digital tools like the SmartBusiness Dashboard are invaluable for businesses seeking analytical insights.

Therefore, your choice should be guided by the specific needs, preferences, and long-term goals of your business.


Can I switch my business account from one bank to another?

Yes, both Barclays and NatWest support the Current Account Switch Service, which makes it easy to switch your business account.

Do these banks offer support to start-ups?

Yes, both banks offer significant support to start-ups, including specialist advice and services.

Are there fees for business banking?

Yes, both banks charge fees for certain transactions, services and account maintenance. The exact fees depend on your business type and banking package.

What kind of customer support can I expect?

Both banks offer customer support via phone, online, and in branches. NatWest also has a UK-based call centre.

Are there sustainable banking options available?

Yes, both Barclays and NatWest offer green banking initiatives and products.

Can I access my business account online and through a mobile app?

Yes, both banks offer comprehensive online banking platforms and mobile apps.

Do they provide business loans?

Yes, both Barclays and NatWest offer a range of business loans with different terms and conditions.

Reviewed by , Managing Director

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