NatWest Exchange Rate

NatWest Currency Exchange Spread and Fees

NatWest charges a £15 fee and an exchange rate markup of around 4% or more, depending on whether you’re a business or an individual. Their transfer fee is reduced to 45p for payments in euros, suggesting they use the SEPA payment rail, which is typically slower for international payments than SWIFT. Payments that require a currency conversion will have a markup applied to the exchange rate. The markup displayed on their currency converter tool shows a 2.5% margin for business customers. However, the rate will only be confirmed when a payment is fully processed. The lack of transparency suggests they may charge significantly more than 2.5%. In some cases, Rutland FX customers have reported being charged more than a 4% markup with NatWest.

How Long Do International Transfers Take With NatWest?

The time it takes for international transfers with NatWest can vary depending on several factors, including cut-off times, payment routes, and additional checks.

• Cut-Off Times: NatWest has specific cut-off times for processing international payments. If you submit your payment request before the cut-off time, it will be processed on the same business day. Payments submitted after the cut-off time will be processed on the next business day.
• Payment Route: The route your payment takes can also affect the transfer time. Payments sent through local routes, such as SEPA for Euro transfers within the EU, are typically faster and can be completed within 1-2 business days. Payments sent via SWIFT, which is used for transfers outside the EU, may take longer, typically 2-5 business days.
• Fraud Checks: NatWest may perform fraud checks on international transfers. If your payment is flagged for additional checks, you may be required to provide additional documentation, which can delay the transfer.

Ultimately, international transfers with NatWest can take anywhere from 1 to 5 business days. However, if fraud checks are required, the process may take longer depending on how quickly the necessary documents are provided and reviewed.

Is Rutland FX Cheaper Than NatWest?

Rutland FX is significantly cheaper than NatWest for international payments. We offer competitive exchange rates, providing you with better value for your money. Additionally, our service is designed to be faster and more transparent.

One of the key advantages of using Rutland FX is our use of SWIFT gpi for most of our payments. This system allows you to track your international transfers like a parcel, providing complete transparency and peace of mind. The majority of payments sent via SWIFT gpi arrive within an hour, ensuring that your funds reach their destination quickly and efficiently.

Additional Services:

• Free Multi-Currency Account: Manage your funds in multiple currencies with ease.
• FX Hedging Solutions: Utilize forward contracts and other tools to manage currency risk.
• Dedicated Account Executive: Get personalized assistance for all your transfers.
• Easy Access to Online Account: Manage your payments effortlessly through our online platform.

These services help streamline your international payments and provide added value, making Rutland FX a practical choice for managing your currency needs.