NatWest waives Point-of-sale terminal fees during Coronavirus crisis

NatWest waives Point-of-sale terminal fees during Coronavirus crisis
30.03.2020 08:15 am

NatWest waives Point-of-sale terminal fees during Coronavirus crisis


NatWest has today announced that it is waiving monthly hire fees for Point-of-Sale terminals from its payments product Tyl until the end of 2020, adding to the range of support that the bank has launched for its SME customers during the current crisis, allowing businesses to offer a variety of payment options to their customers at a reduced cost.

The bank also provides next day settlement to users of Tyl, helping with cash flow during this difficult period for small businesses. Tyl aims to ensure businesses who sign up for the service have received terminals and are ready to accept payments within 24 hours.

Tyl allows small businesses to accept chip and PIN, contactless and telephony payments either in store or off-premises using a mobile terminal. These options offer added flexibility and choice, during a period where many businesses are adapting to telephone orders and delivery in reaction to the COVID-19 prevention measures, and keep customers and staff safe through payment with minimal contact. Currently, Tyl is available to the bank’s SME customers in England, Wales and Northern Ireland. 

Andrew Harrison, Head of Business Banking, said:

“During these difficult and unprecedented times, we are constantly looking to find ways to best support our customers and make it easier for businesses to continue to trade. We know SMEs want to minimise their overheads, increase their cashflow, and have flexibility in how they operate at this challenging time. This is why we’re waiving monthly hire fees for our Tyl terminals, and enabling as many of our customers as possible to be able to take card payments and benefit from next business day settlement.”

NatWest has also recently announced several other measures to support SMEs during this period, including the launch of a £5billion fund of Working Capital support for UK businesses; and participation in the Coronavirus Business Interruption Loan Scheme, led by the British Business Bank.

Customers who are interested can visit



Related News

British Business Bank accredits Metro Bank to the Bounce Back Loan Scheme

Today the British Business Bank has announced that it has approved a new lender for accreditation to the Bounce Back Loan Scheme for small business across the... Read more »

India’s smart cities playing big role in technology led battle against COVID-19, says GlobalData

As seen in many countries across the globe, smart cities in India too have been playing a major role and leading the way in the country’s battle against the COVID-19 pandemic,... Read more »

39% of UK adults suffer Covid income drop, taking home over 30% less - with the UK’s furlough scheme not filling the gap

A new international study of over 6,000 respondents from smart money app, Yolt, has quantified the... Read more »

Zwipe & Galileo Sponsor Group Futurista's 2nd Futurecast Webinar

Group Futurista is a global tech based event company. They have organized numerous technology summits across Europe in the past two years. To keep up with the current pandemic... Read more »

Xignite sees record demand for financial data during pandemic

Xignite, Inc., a provider of market data distribution and management solutions for financial services and technology... Read more »

Lockdown alters crypto trading habits - Revolut data

Today Revolut, the Financial Super App with over 10 million customers in the U.K and Europe, reveals figures outlining how the cryptocurrency market has... Read more »

Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel