National Westminster Bank was established in 1968 by a merger of National Provincial Bank and Westminster Bank. NatWest uses Worldpay for its merchant services. Worldpay opened its doors under the name of Streamline in 1989, which was first released by CentreFile, a wholly owned subsidiary of NatWest.
Sections
NatWest Merchant Services Credit Card Processing & Payment Services
NatWest Merchant Services Payments
Worldpay has a range of payment solutions for accepting payments over the phone, online, via invoice or in person. The company accepts a range of payments types in over 140 currencies:
- Visa
- Mastercard
- American Express
- JCB
Other NatWest/Worldpay Products and Services
- My Business Dashboard: Business performance insights for all sizes of business. The first three months are free and then £4.99 per month. Note the Lite version is free.
- Virtual Terminal: For £9.95 per month, businesses can accept payments by phone.
- Pay by Link: For £9.95 per month, businesses can accept payments via email.
- Integrated PayPage
- Simple PayPage
- OneClick PayPage
- WorldPay Benefits Club: Business and personal offers – £5.99 per month for Pay as you Go customers. Included in Fixed Monthly Plan and Standard Plan.
- Future Pay: For recurring payments
- eInvoicing
- Online Shopping Cart Integration
- Risk Manager: 10p per transaction
- Online Payments Gateway: £19.95 per month for fixed monthly plan customers
- POS Equipment
NatWest/WorldPay Pricing & Fees
Worldpay has a range of payment plans to suit all types of businesses. Worldpay doesn’t charge a joining fee.
Face to Face
- Pay as You Go includes: –
- Choice of desktop, portable or mobile terminal
- Choice of bolt on options
- PCI annual management fee
- No fixed monthly commitment
- Single transaction rate
- One off, upfront terminal admin fee (£150 for standard terminal)
- Higher fees for premium transactions
- 18-month terminal hire agreement
- 12-month contract
- Fixed monthly – starts at £49.99 and includes transactions up to a set threshold and authorisation fees. It includes: –
- Fixed monthly rate
- Transaction fees
- Terminal rental fee
- Choice of desktop, portable or mobile terminal
- PCI annual management fee
- Worldpay Benefits Club
- 18-month terminal hire agreement
- 12-month contract
- Standard – combination of regular monthly fees and transaction charges based on business volumes. Monthly terminal rental fee from £15.45 and variable transaction rates based on business volumes
- Minimum monthly service charge – £15 per month
- PCI annual management fee – £29.99
- Transaction authorisation fees apply
- Separate Debit and Credit transaction rates
- Premium transactions incur higher fees
- 18 or 36-month terminal hire agreement
- Choice of desktop, portable or mobile terminal
- Worldpay Benefits Club
- 12-month contract
Online
- Pay as You Go – includes: –
- Online payments gateway
- Choice of bolt on options
- PCI annual management fee
- Transaction authorisation fees apply
- Gateway fee is 10p per transaction
- Fixed Monthly – £49.99 includes transactions up to set threshold and authorisation fees. Also includes: –
- Fixed monthly rate
- Online transaction fees
- Online payments gateways
- Virtual terminal
- Business Manager
- PCI annual management fee
- WorldPay Benefits Club
- Standard – monthly online payments gateway fee £19.95
- 350 online gateway transactions
- Virtual terminal
- Pay by Link
- Business Manager
- Worldpay benefits club
- Transaction authorisation fees apply
- Separate Debit and Credit card transaction rates
- Gateway fee, 10p per transaction after first 350
- PCI annual management fee £29.99
- Premium transactions incur higher fee
Source: Worldpay Pricing
To see that that compares have a look at: UK Merchant Account and Credit Card Processing Fee Comparison.
NatWest Worldpay Features
- Fraud screening
- Range of payment types
- Payments can be taken in 140 currencies
- 24/7 UK based support
- Mobile Card machine
- Portable Card machine
- Countertop Card machine
- Pay by Link
- Recurring payments
- Worldpay Benefits Club
- Business manager
Company Background
NatWest’s history is long, culminating in becoming a member of the Royal Bank of Scotland Group. In 1968 National Provincial Bank (est. 1833) and Westminster Bank (est. 1836) merged to become National Westminster Bank – NatWest. These two banks can trace their history back to the 1650s. In March 2000, the Royal Bank of Scotland acquired NatWest in a £21 billion deal, the biggest takeover in British banking history.
NatWest’s long association with Worldpay makes them the obvious choice as a Merchant Services provider. Worldpay started an electronic payment system called Streamline which was first released in 1989 by CentreFile, a wholly owned subsidiary of National Westminster Bank. In 1995 CentreFile was sold to Ceridian but NatWest kept Streamline. After NatWest’s acquisition by the Royal Bank of Scotland, Streamline was renamed RBS Worldpay. The company expanded under RBS but by November 2013, Worldpay was no long part of RBS. In July 2017, U.S. credit card payment firm Vantiv agreed in principle to acquire Worldpay for $10 billion.
NatWest Merchant Services Pros & Cons
As Worldpay is NatWest’s merchant services provider, the following pros and cons are based on information available on Worldpay’s website and reviews from Trustpilot.
Pros:
- Easy to set up and use
- Low initial cost
- Can be accessed from phone or tablet
- Good customer service
- Refunds are quick and easy
Cons:
- Hidden costs not divulged
- Slow payment to merchants – some over two weeks late
- Communications ignored
- Poor customer service
- Merchants being put on hold for over an hour when called customer service
NatWest Merchant Services Reviews
- Trustpilot: 3 out of 5 based on 1,699 reviews
NatWest/Worldpay’s Merchant Machine score is 3 out of 5.
Website: www.business.natwest.com
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