Natwest UK International Transfer: fees, rates and transfer times

One of the UK's biggest banks, NatWest¹, offers several ways to make transfers abroad. You can choose standard or express transfers depending on how urgently you need to send the money and how much you want to pay for the service².

In this guide, we look at the details you need, and the costs you’ll face, if you make an international money transfer with NatWest.

We also quickly touch on Wise - a money services provider offering fast international payments to 160+ countries, with the mid-market rate and low, transparent fees. For people transacting internationally frequently, the Wise account can also be a big help, allowing you to hold, exchange, send, spend and receive foreign currencies conveniently and with no ongoing fees³.

Please see the Terms of Use for your region or visit Wise fees & pricing for the most up-to-date information on pricing and fees.

Learn more about Wise account

What are the fees for an international transfer with NatWest?

If you want to send an international payment you’ll be looking for a safe and easy service which has low fees. Let’s walk through the costs which might apply to sending a payment with NatWest so you can decide if it’s the right service for your specific needs.

NatWest international transfer fees

NatWest may have varying international transfer fees, depending on your account type. The options available for you - as well as the fees - are also different depending on whether you have a NatWest personal or business account.

This guide looks mainly at the NatWest international transfers for personal customers, and we’ve taken this fee information based on the NatWest current account options offered - if you have a business account do ready your terms and conditions carefully to see the costs you may pay.

NatWest exchange rates

Whenever you make an international transfer with a bank, there’s another cost to consider alongside fixed fees. Your money will be converted to the new currency at an exchange rate set by the bank. This exchange rate can contain fees - known as a margin - which have already been incorporated. This can mean you’re paying more than you expected - and make it pretty hard to pick out the costs of your transfer in full.

If you make your transfer with NatWest, they’ll give you a quote based on their current exchange rate, which contains a margin. If you compare the NatWest rate you’re given with the exchange rate for your currency which you find on Google or with a currency converter tool - which is known as the mid-market rate - you’ll be able to calculate the margin added. Or, if that sounds too complicated, look out for a provider which uses the mid-market rate and splits out the costs for you, for transparency, like Wise.

Additional fees from NatWest

One final note on NatWest fees. There may be another cost, which comes from intermediary banks and the recipient’s own bank. These costs aren’t necessarily in NatWest’s control, but will be deducted from your payment at some point nonetheless.

NatWest may describe these fees as agent fees - they’re usually paid to intermediaries who help to process the payment as it passes through the SWIFT network. Depending on where you’re sending money to, you might have the option to pay all the costs yourself, share them with the recipient, or have the recipient pick up the bill in full. You’ll be shown the options available to you when you arrange your transfer with NatWest.

As an alternative to NatWest, consider sending your next international payment with Wise. You’ll get a low transfer fee, no hidden costs, and the mid-market exchange rate, making it easy to see exactly what you’re paying for your international transfer.

Discover international transfers with Wise

Please see the Terms of Use for your region or visit Wise fees & pricing for the most up-to-date information on pricing and fees.

How do you make an international bank transfer with NatWest?

You can send a NatWest international transfer online, through mobile banking, at a branch or even by fax if you’ve registered for this service in advance. For most customers the most convenient option will be using the NatWest banking app. Here’s how to send an international transfer with NatWest using mobile banking:

1. Log in to the NatWest mobile app and select the account that you want to pay from
2. Select 'Payments' and then 'International payment'
3. Select 'Make on international payment'
4. Select 'Choose who to pay or pay someone new'
5. Look for 'Your payees', and tap the person you want to pay
6. Enter the payment amount and date, and confirm who will pay the fees
7. Select 'Initiate payment'

If you go to a branch, you may need your bank account details. A teller will talk you through the process.

What do you need to make an international money transfer with NatWest?

This is the information you’ll need about the account into which you’re transferring the money:

• The beneficiary’s full name as shown on their account
• The beneficiary’s SWIFT/BIC (a SWIFT/BIC finder can help you out if you haven’t been given it).
• The beneficiary’s IBAN, if they have one
• The beneficiary’s account number and national clearing code (NCC), if they don’t have an IBAN
• Any other information required for the specific destination country, such as a reason for payment - if more details are required for your transfer you’ll be informed when you arrange it

When does the transfer arrive to the recipient’s account?

So, how long does a bank transfer take with NatWest? NatWest processes all international transfers as urgent payments. However, the amount of time it takes for your money to be deposited will still depend on factors like where you’re sending to, the currencies involved, and the recipient’s bank’s own processes. There’s a currency guide available on the NatWest website which shows the payment cut off times for each currency, as well as an average delivery time, which can run from 0 to 3 days or so.

If you’re in a hurry, check with NatWest directly to understand how long your transfer is likely to take to arrive.

What’s the maximum transfer limit with NatWest?

While the exact amount you can send may vary based on your specific NatWest account type, the limit for mobile and online banking is usually 20,000 GBP or the currency equivalent. If you need to send a higher value transfer you may be able to do so in a branch - get in touch with your local NatWest to see what services they can offer.

How to contact NatWest?

The easiest way to contact NatWest is to use their digital assistant tool - called Cora - which you can access either through the desktop site or app. If you can’t find the answers you need here, you can also call NatWest. There are lots of different numbers depending on the specific nature of your problem, so to find the ideal way to get in touch you’ll need to visit the NatWest contact centre online⁴, or call into a local branch to get face to face support.

Send money internationally with Wise

While NatWest has solid options for sending international transfers, they may not be your cheapest choice. Compare the costs of NatWest against alternative non-bank services like Wise which may help you move your money faster and for a lower fee.

Send Wise digital payments from your laptop or phone, to 160+ countries. Currency exchange uses the mid-market rate so you just pay low, transparent fees from 0.35%. You can also get a Wise account to hold and exchange 40+ currencies, spend in 150+ countries with a Wise debit card, and receive foreign currencies conveniently with local bank details.

Next time you need to send money overseas, consider choosing an alternative rather than sticking with your bank. Digital payment providers have streamlined services which can cut out intermediary costs, and low overheads which mean they can pass savings on to customers. Try a service like Wise to see if you can save.

Sign up with Wise today 🚀

Please see the Terms of Use for your region or visit Wise fees & pricing for the most up-to-date information on pricing and fees. Eligibility is subject to verification of customers' identity.

Sources used:

Sources last checked on date: 04-JUN-2024