NatWest launches Start-Up service for new business

by Gill Montia

Story link: NatWest launches Start-Up service for new business

NatWest is supporting new businesses with the launch of its Start-Up service which promises entrepreneurs free banking for two years, plus support from a network of over 1,700 locally based business managers, who will be advising clients face-to-face.

The offer is aimed at businesses that have begun trading within the last 12 months and the free banking provision means that account holders will not be charged for payments into and out of their account, on the understanding that the account stays in credit and that outgoing transaction do not exceed £1 million a year.

Other benefits include £50 cashback on Vodafone’s standard offers for customers connecting to their small business tariff, plus a 10% discount on Green Flag Fleet Assist Breakdown cover.

Qualifying new businesses can benefit from a 25% discount on the NatWest Advantage Gold account, which provides a range of money saving benefits, including preferential loan/overdraft rates and travel insurance.

They will also be eligible for the Business MasterCard, a flexible payment card that can be useful in the management of business expenses, although the card will only be fee-free in the first year.

The Start-Up account has a fee-free overdraft facility in the first year and in year two a £50 charge will ensure renewal of the £500 limit. The rate of interest charged is 9.99% fixed.