This review for the NatWest money transfer service is intended to explain the pros and cons of using it for your money transfer needs. We focus on the important aspects like fees, exchange rates, and the quality of the service provided. To view other companies like NatWest’s money transfer service, check our top money transfer companies list.
|Established||1968. Since 2000, it has been part of The Royal Bank of Scotland Group|
|International Clients||✗ UK Clients|
|Currencies Offered||Not advertised. We can assume they have access to every currency, being a bank.|
|Trading via||In branch or online|
|Offices In||UK, and off-shore locations like Gibraltar, Jersey Islands, and Guernsey|
|Regulation||✓ Prudential Regulation Authority (UK), FCA (UK), Financial Services Compensation Scheme(UK), Financial Services Compensation Scheme (UK), British Bankers’ Association (UK)|
|Fees||£10 for Euro transfers, £22 for all other currencies. £30 for urgent transfer (1-2 working days)|
|Client Reviews||618 reviews on TrustPilot, 150 reviews on ReviewCentre|
|Client Rating||Approximately 90% of the reviews about NatWest Bank we have examined were negative|
Payment Compensation Scheme
Provides all Banking Service, Not Just International Payments
Great Rated App
Up to £30 in Fixed Fees
Worse Exchange Rates than FX Companies (~4% markup GBPEUR / GBPUSD).
Most Client Reviews are Negative*
No Dedicated Dealers for FX like on Moneycorp
* Client reviews about Natwest bank are not limited to the international payment service offered by the bank. These are all the client reviews we have discovered about Natwest bank online.
View Recommended Alternatives:
Some of Natwest Money Transfer competitors are presented in the table below. Be sure to compare their currency rate before you continue to read:
- Min Transfer: £/€/$ 100
- Currencies Supported: 39
- Offices : UK, EU, USA, India, South Africa.
- Our Rating : 97.8%
- Most Global Offices and Reach
No Fees from Anywhere and Competitive Rates
96% Client Satisfaction
- Min Transfer: £/€ 100
- Currencies Supported: 40
- Offices : UK, EU, Singapore, and Australia.
- Our Rating : 93.4%
- High Quality Bespoke Service
MoneyFact's Best Provider Award
Over 100 Years of FX Experience Across Its Trading Desk
- Min Transfer: £/€/$ 50
- Currencies Supported: 120
- Offices : UK, EU, Australia, USA, HK, UAE, and South America.
- Our Rating : 92.8%
- Business Oriented, Many High Profile Business Customers
Industry Veteran since 1979
Diverse Hedging Options and Excellent Guidance
Our Rating: Pending
Status: Not In MTC’s Most Recommended List
Natwest International Money Transfer Service Review Summary
Natwest is one of the largest retail banks in the UK with reputation of over 5 decades. It is far more regulated than commercial FX companies, and has an extremely wide offering of currencies and hedging tools (for larger corporate clients) than what most commercial foreign exchange providers would be able to supply. In addition to that, Natwest boasts a really tremendous app.
While that being said, the fees for international payments at Natwest bank are very high compared to an industry standard which hardly ever charges fix fees anymore, and the rates provided to private clients are worse than those you can find with recommended FX companies. In addition to that, it should be noted that Natwest has been criticised by the media, as well as by online reviewers, and fined more than once for its misconduct (by the regulators).