I work in the UK as a contractor for companies in both the UK and the EU.
Natwest clearly state that for international payments, they charge a £7 fee.
However, they also give an exchange rate several percent lower than the inter-banking exchange rate.
In my case that meant a payment of approx £11,800 was reduced to £11400!
The real charges are completely ridiculous. Avoid at all costs if you do any international business!
I am now moving my business banking to Tide or Starling who provide the correct exchange rate and don’t charge any fees.
Reviewed on: 18th July 2019
