Business
Business Account
Current Account Switch Guarantee

Current Account Switch Guarantee

Switch your business current account

How to start your switch Open in new window

The Current Account Switch Service is available for accounts held in Jersey, Guernsey and the Isle of Man. It's not available for accounts held in Gibraltar. Business bank account is available to eligible customers aged 18 or over.

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Switching to us Open in new window

How switching works Open in new window

Common questions Open in new window

Switch your account to NatWest International

The Current Account Switch Service makes it easy to move your current account to another UK bank or building society. It’s available to consumers, small businesses, charities and trusts.

You can pick a switch date that suits you and your new bank or building society will handle the whole process for you.

To switch to NatWest International, you require to have already opened a business current account with us.

Check if your business is eligible to switch to us

If you already bank with us, you can switch using the Current Account Switch Service.

If you don't have an account with us, you’ll need to open a business current account. To apply you need to be:

aged 18 or over
resident in the Channel Islands, Isle of Man or Gibraltar
the owner or director of the business you’re applying on behalf of

and the business:

registered address must be in the Channel Islands, Isle of Man or Gibraltar, and/or be registered for tax purposes in one of those jurisdictions.
must have a single layer of ownership with no nominee shareholding structures with all owners, directors or shareholders resident in the Channel Islands, Isle of Man or Gibraltar.
cash takings must not exceed 20% of the annual turnover.

The Current Account Switch Service is available for accounts held in Jersey, Guernsey and the Isle of Man. It's not available for accounts held in Gibraltar.

More about our business current account Open in new window

How switching works

You don't have to make a complete switch from one provider to another, it’s possible to make a partial switch too. Here’s a quick look at the main differences between full and partial switches.

Information Message

Full switch summary

Your old account will be closed.
We'll transfer your Direct Debits and Standing Orders to your new account.
We'll move any remaining balance to your new account with us and close the old one.
If someone pays into your old account after the switch, we'll redirect the money to your new account.
The switch takes 7 working days from the date we tell your old bank.
The service is backed by the Current Account Switch Guarantee (PDF, 40 KB).

Information Message

Partial switch summary

Your old account stays open.
You choose which Direct Debits and Standing Orders to move from your old bank account.
We won't move Standing Orders that occur less than once a year.
We won't forward or redirect any payments to your new account.
The switch takes at least 11 working days from when we tell your old bank.
This service isn't covered by the Current Account Switch Guarantee.

Information Message

Want to know which switch is right for your business?

Read our guide to switching your business account which includes a simple decision tree to help you choose between the full and partial Current Account Switch Service.

Your guide to switching your account to us (PDF, 1 MB)

Common questions

Eligibility

Can I switch my business account?

Yes, you can switch your business account if your annual turnover is £6.5 million or less and you have fewer than 50 employees. If you’re a small trust with net assets under £6.5 million, you can switch too.

If you’re not sure whether you qualify, just ask your new bank or building society.

Can I switch my savings account?

No, we can't switch savings accounts.

Can I switch my business account if I am overdrawn?

Yes. You will need to agree any overdraft facilities you require with your new bank or building society. Alternatively, they may be able to provide facilities to help you pay off any existing overdraft you may have, subject to their normal lending criteria. If you do not come to an agreement with your new bank you must make separate arrangements to repay your existing overdraft before you switch.

The switching process

Who provides the guarantee?

When you use the Current Account Switch Service, your new bank or building society guarantees the switch. Pay.UK, the home of Bacs Payments, Faster Payments and Cheque Payments, manage and oversee the service.

When does the switch begin?

Once you have applied for and opened your new account, you can choose the switch date to suit you. The date of your switch must be at least 7 working days from this point.

Do I have to close my old account?

If you use the Current Account Switch Service to switch, your old bank will close your old account. This ensures that any payments made to your old account are automatically redirected to your new account.

If you would like to keep your old account open then you are free to do so, but you won’t be able to use the Current Account Switch Service to do this, and you will not be covered by the Guarantee. Speak to your bank and they can help explain your options.

What happens to payments that people send to my old account?

All incoming and outgoing payments will be automatically redirected to your new account. Each time a payment is redirected, an automatic message is sent back to the originator advising them of your new account details so they can update their records. Some organisations may contact you directly to confirm your details have changed. If you do not want your new details to be given to someone who sends a one-off payment, contact your new bank.

When will the money in my old account be transferred to my new account?

You'll be able to access the funds in your old account up to and until your switch date, when they will be transferred to your new account.

What happens to any transactions that I have asked my old bank to stop?

The Current Account Switch Service will not interfere with this process and any debit card or Direct Debit transactions that you have asked your bank to stop should remain stopped after your switch.

Will third‑party permissions I've given to make payments or access data move with the switch?

If you have given permission to any third party providers to make payments on your behalf, or to access your financial data, these services won’t move to your new account as part of the Current Account Switch Service.

To move them across:

Before you close your old account, check whether you have any third party provider permissions set up and if so, who with.
Once your new account is open, you can give the third party provider permission to access it. You can do this by giving them your account details. You will need to contact the third party provider directly yourself to set this up.
If you’re unsure if your new bank will support third party provider permissions on your account, you’ll need to discuss this before you switch. Your new provider can help advise you.

Please check your new provider’s terms and conditions for more information about third party providers.

What happens if there is a mistake or delay in the switching process?

In the unlikely event that there are any issues in starting the switch, we will inform you before your switch date. If anything goes wrong, we will ensure that any charges or interest incurred on your old and/or new account as a result of the error will be refunded. It is for your new bank to decide whether you receive compensation above and beyond the refund.

If the switch is delayed for any reason, can I still use my new account?

Yes, if the new account is open and you have money in it (or an overdraft agreed) then you can use it.

Can I cancel my account switch if I change my mind?

Yes, you can cancel your switch up to 7 working days before the switch date. To cancel, contact your new bank, who can guide you through this process.

Do you have further questions?

Take a look at our guide for answers to more common questions.

Your guide to switching your account to us (PDF, 1 MB)

How to switch your business bank account to us

To get started, we need to know if you're a new or existing customer.

Continue

Do you already have a business current account with us?

To switch to NatWest International, you require to have already opened a business current account with us.

Please choose an option below to continue

Yes

You can start the switch process with us

To complete a full or partial switch:

Download and read the switching guide.
Complete 'The Current Account Switch Service – Business Banking Form' (starting on page 13 of the guide).

The completed form should be emailed to:

businessswitching@rbs.co.uk

If you have a Relationship Manager, please email the form to them.

The Current Account Switch Service is available for accounts held in Jersey, Guernsey and the Isle of Man. It's not available for accounts held in Gibraltar.

Download our switching form and guide

You need to open a current account with us

Before you can switch your business account to NatWest International, you need to have a current account with us. Once your account is open, you can start the switching process.

More about our business account