NatWest Merchant Services Review 2026: Tyl Fees, Card Machines, Pros, Cons & Alternatives Quick answer
NatWest merchant services are offered through Tyl by NatWest , NatWest’s payment service for UK businesses that want to accept card payments in person, online, over the phone or through Tap to Pay.
Tyl by NatWest can be a good fit for small and medium-sized businesses that want a bank-backed payment provider, clear published pricing for lower card turnover, next business day settlement and a choice of card machines, online payments and Tap to Pay.
For businesses with up to £50,000 annual card payment value, Tyl lists transaction fees of 1.39% + 5p for UK and European personal cards and 1.99% + 5p for all other cards. Businesses over £50,000 annual card payment value receive custom pricing.
Tyl is worth comparing if you run a shop, café, salon, restaurant, mobile business, clinic, takeaway or small service business and want a more structured payment provider than a basic card reader.
It will be less suitable for your business needs if you want no contract, no monthly terminal hire, instant self-serve setup or a very simple pay-as-you-go reader.
Compare NatWest merchant services against Square, SumUp, Dojo, Worldpay, Barclaycard, Elavon and PayPal POS to find the best deal for your business.
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Contents
What are NatWest merchant services?
Is NatWest merchant services the same as Tyl?
NatWest merchant services fees and pricing
NatWest card machine options
NatWest merchant services pros and cons
NatWest merchant services vs competitors
How do we work?
Transparent, impartial, and data‑driven reviews made by a team of expert humans, never AI generated - here’s exactly how Compare Your Business Costs helps you find the best deals from trusted UK providers: click here
Authored by: Ally Cox (Business Technology & B2B Services Specialist 10+ Years’ Experience)
Reviewed by: James Ward (Telecoms Specialist, 12+ Years Experience)
Last Updated: July 2026
NatWest merchant services at a glance
Category
Provider name
Tyl by NatWest
Best for
SMEs wanting card machines, online payments, phone payments or Tap to Pay
Pricing style
Published pricing up to £50k annual card payment value; custom pricing above £50k
In-person personal card fee
1.39% + 5p for UK and European personal cards
Other card fee
1.99% + 5p for all other cards
Settlement
Next business day settlement as standard with Tyl payment options
Payment methods
Card machines, online payments, over-the-phone payments and Tap to Pay
Tap to Pay
No extra hardware, no monthly hire or PCI fees; transaction fees and limits apply
Best alternatives
Dojo, Worldpay, Square, SumUp, Barclaycard, Elavon, Clover, TakePayments, PayPal POS
Main advantage
Bank-backed provider with clearer small-business pricing than some quote-only providers
Main drawback
5p fixed transaction fee and terminal/monthly product costs can matter for low-value transactions
Need merchant services for your business? This quote service is best for UK businesses that want to accept payments using:
merchant services
card machines
countertop terminals
portable card machines
mobile card machines
Tap to Pay
online payment gateways
payment links
virtual terminals
EPOS-integrated payments
merchant accounts
Key Takeaways
NatWest merchant services are provided through Tyl by NatWest.
Tyl lets businesses take payments face to face, online, over the phone, by card machine and with Tap to Pay.
NatWest says Tyl offers next business day settlement as standard with any Tyl payment option.
For businesses up to £50k annual card payment value, Tyl lists 1.39% + 5p for UK and European personal cards.
Tyl lists 1.99% + 5p for all other cards.
Businesses over £50k annual card payment value receive custom pricing.
Tap to Pay on iPhone through Tyl has no monthly hire or PCI fees, although transaction fees and limits apply.
Tyl can suit SMEs that want a bank-backed card payment provider.
The 5p fixed transaction fee matters for businesses with lots of low-value transactions.
NatWest merchant services should be compared against Dojo, Worldpay, Square, SumUp, Barclaycard, Elavon and PayPal POS.
The best provider depends on monthly turnover, average transaction value, card type, contract preference and payment channels.
Compare NatWest merchant services before choosing a card machine or merchant account.
What are NatWest merchant services? NatWest merchant services are payment services that help businesses accept card and digital payments from customers, and today, the main NatWest payment service for businesses is Tyl by NatWest .
Tyl can support payments:
in person
online
over the phone
by card machine
through Tap to Pay
through payment gateway tools
through virtual terminal and Pay by Link options
This makes NatWest merchant services relevant for businesses that need more than a basic card reader, perfect for shops, cafés, restaurants, salons, clinics, mobile businesses, tradespeople, takeaways and growing SMEs.
Is NatWest merchant services the same as Tyl? For most UK business customers searching for NatWest merchant services, the relevant product is Tyl by NatWest .
Tyl is NatWest’s payment service for taking card and digital payments.
NatWest promotes Tyl as a way for businesses to accept payments:
face to face
online
over the phone
by card machine
with Tap to Pay
So if you are comparing “NatWest merchant services”, you should usually compare Tyl by NatWest against other card machine and merchant service providers!
NatWest merchant services fees and pricing
Card payment value Pricing style
Up to £50k per year
Published transaction pricing plus chosen products/services
Over £50k per year
Custom pricing
Tyl transaction fees under £50k annual card payment value
Card type Tyl fee
UK and European personal cards
1.39% + 5p per transaction
All other cards
1.99% + 5p per transaction
NatWest card machine options Tyl by NatWest offers payment options for businesses that need to take payments in person, and depending on your setup, these include:
countertop card machines
portable card machines
mobile card machines
Tap to Pay
card machine packages
payment reporting
next business day settlement
online payment options
phone payment options
Typical card machine use cases
Business type
Shop
Café
Countertop or portable terminal
Restaurant
Portable terminal for table payments
Salon
Tradesperson
Mobile terminal or Tap to Pay
Clinic
Countertop or portable terminal
Takeaway
Event seller
Mobile card machine or Tap to Pay
Growing SME
Multiple machines and online payments
NatWest online payments
Tyl by NatWest also offers online payment options and their online payment products include:
Virtual Terminal
Pay by Link
Hosted Checkout
Best for
NatWest online payment tools will suit:
service businesses
businesses taking deposits
phone orders
remote payments
online bookings
invoices
ecommerce
small businesses without a full online checkout
businesses wanting payment links
What to check
Before using Tyl online payments, compare:
monthly gateway costs
online transaction fees
Pay by Link fees
virtual terminal fees
card-not-present charges
fraud protection
refund rules
chargeback fees
integration with your website or booking system
NatWest Tap to Pay Tyl offers Tap to Pay on iPhone, allowing businesses to accept contactless payments on a compatible iPhone without extra hardware, and their tap to Pay on iPhone has:
no extra hardware needed
no monthly hire fees
no PCI fees
transaction fees and limits apply
selected device requirements
eligibility criteria and terms
Best for
Tap to Pay may suit:
sole traders
market traders
tradespeople
mobile hairdressers
beauty therapists
pop-ups
event sellers
low-volume sellers
businesses testing card payments
When a card machine could be better
A dedicated card machine may be better if you need:
Chip and PIN
printed receipts
a separate payment device
multiple terminals
long battery life
table service
high daily transaction volume
stronger customer familiarity
NatWest merchant services pros and cons
Pros Cons
Bank-backed provider through NatWest
Not always the cheapest for every business
Clear published rates under £50k annual card payment value
5p fixed fee can affect low-value transactions
Custom pricing available over £50k
Card machine and product monthly costs still need checking
Next business day settlement as standard
Businesses wanting no contract may prefer Square, SumUp or PayPal POS
Card machines, online payments, phone payments and Tap to Pay
Some features may require product-specific fees
Tap to Pay has no monthly hire or PCI fees
Eligibility and device requirements apply
Good fit for SMEs wanting a structured payment setup
Very small sellers may find simple readers easier
NatWest brand familiarity
Compare customer support and contract terms carefully
Who should use NatWest merchant services? NatWest merchant services will suit businesses that:
want a bank-backed payment provider
already use NatWest business banking
want card machines and online payment options
process regular card payments
want next business day settlement
prefer clearer small-business pricing than quote-only providers
want Tap to Pay as an option
run a shop, café, restaurant, salon, clinic or service business
want virtual terminal or Pay by Link options
expect to grow beyond a basic reader
Best-fit businesses
Business type
Café
Card machines, contactless and next business day settlement
Restaurant
Portable terminals and card payment tools
Salon
In-person card payments and payment links
Retail shop
Countertop payments and reporting
Clinic
Card machines and phone/remote payment options
Tradesperson
Tap to Pay or mobile payment options
Small ecommerce business
Hosted checkout or Pay by Link
Growing SME
Published pricing under £50k and custom pricing above
Who should compare alternatives? You will want to compare alternatives if you:
only take occasional payments
want no monthly product fees
want a cheap card reader bought outright
want instant setup
do not want a 12-month card machine contract
take lots of very low-value transactions
want a full EPOS system
want the lowest possible flat-rate card reader
are a seasonal seller
are a market trader or pop-up with low turnover
Alternatives may suit you better if...
Your priority
Lowest commitment
SumUp , Square, PayPal POS
Simple flat-rate pricing
Restaurants and hospitality
Dojo, Clover, Worldpay, Tyl
Larger merchant account setup
Worldpay, Barclaycard, Elavon, Lloyds Cardnet
EPOS and POS features
Clover, Square, Lightspeed, Shopify POS
Existing bank-backed provider
Barclaycard, Lloyds Cardnet, Tyl
Higher card turnover
Worldpay, Dojo, Barclaycard, Elavon, Tyl
NatWest merchant services vs competitors
Provider Best for
How it compares with NatWest/Tyl
Dojo
Hospitality, retail and growing SMEs
More modern SME card machine positioning
Worldpay
Established SMEs and merchant services
Larger direct payment processor with tailored options
Square
Small businesses and POS tools
Simpler flat-rate pricing and quick setup
SumUp
Sole traders and mobile sellers
Lower-commitment reader and simple fees
Barclaycard
Bank-backed card payments
Another major bank-linked payment route
PayPal POS
PayPal users and small sellers
Simple card reader and POS option
Clover
Retail and hospitality POS
Stronger POS hardware/software ecosystem
TakePayments
SMEs wanting guided setup
Quote-led card machine packages and support
Elavon
Retail, hospitality and merchant accounts
Established payment provider with custom options
What to check before signing up
Before choosing NatWest merchant services or Tyl, check:
transaction fees
fixed per-transaction fees
monthly card machine costs
Tap to Pay limits
online payment fees
virtual terminal fees
payment link fees
PCI fees
chargeback fees
refund rules
contract length
cancellation fees
settlement speed
terminal replacement rules
support hours
EPOS integrations
accounting integrations
online gateway compatibility
card types accepted
international and commercial card fees
VAT on monthly charges
Always compare your total monthly cost, not just the headline transaction rate.
Our verdict: is NatWest merchant services good? NatWest merchant services through Tyl can be a good option for UK SMEs that want a bank-backed payment provider with card machines, online payments, phone payments, Tap to Pay and next business day settlement so is worth comparing if your business takes regular card payments and wants clearer published pricing than some fully quote-based providers.
The main advantage is that Tyl publishes straightforward pricing for businesses under £50k annual card payment value.
The main drawback is that the 5p fixed fee can make very small transactions more expensive, and product costs still need to be checked carefully.
Choose NatWest/Tyl if:
you want bank-backed merchant services
you already use NatWest business banking
you take regular card payments
you want next business day settlement
you need card machines and online payments
you like published pricing under £50k annual card payment value
Compare alternatives if:
you want no monthly terminal costs
you want instant setup
you only take occasional payments
you take lots of very low-value transactions
you want no contract
you need a full EPOS system
you want to compare lower custom rates at higher turnover
Compare NatWest merchant services against leading UK payment providers before signing.
FAQs: NatWest Merchant Services Review 2026 Does NatWest offer merchant services?
Yes. NatWest offers business payment services through Tyl by NatWest, which supports card machines, online payments, phone payments and Tap to Pay.
Is NatWest merchant services the same as Tyl?
For most UK business customers, yes. Tyl by NatWest is the main NatWest payment service for taking card and digital payments.
How much does NatWest merchant services cost?
For businesses with up to £50k annual card payment value, Tyl lists 1.39% + 5p for UK and European personal cards and 1.99% + 5p for all other cards. Businesses above £50k receive custom pricing.
Does Tyl by NatWest charge monthly fees?
Monthly costs depend on the products you choose, such as card machines or online payment services. Tyl says Tap to Pay has no monthly hire or PCI fees, although transaction fees and limits apply.
Is Tyl by NatWest good for small businesses?
Tyl can be a good fit for small businesses that want card machines, Tap to Pay, online payments and next business day settlement. Very small or occasional sellers may prefer SumUp, Square or PayPal POS.
Does NatWest offer card machines?
Yes. Tyl by NatWest offers card machine options for face-to-face payments.
Does NatWest offer online payments?
Yes. Tyl offers online payment options including Hosted Checkout, Pay by Link and Virtual Terminal.
Does NatWest offer Tap to Pay?
Yes. Tyl offers Tap to Pay on iPhone for compatible devices, subject to eligibility and terms.
How quickly does Tyl by NatWest pay out?
NatWest says Tyl offers next business day settlement as standard with any Tyl payment option.
Is Tyl cheaper than Square?
It depends on your transaction value and card mix. Tyl’s 1.39% + 5p rate for UK/EU personal cards may be cheaper on some transaction values, but the 5p fixed fee and product costs need to be included.
Is Tyl cheaper than SumUp?
It depends on your turnover, average transaction value, card type and whether you need monthly products or hardware. SumUp may be simpler for low-volume sellers, while Tyl may suit SMEs with regular payments.
Is Tyl better than Dojo?
Tyl may suit businesses wanting bank-backed payments and published pricing under £50k annual card payment value. Dojo may suit hospitality, retail and SMEs wanting a modern card machine provider.
Is Tyl better than Worldpay?
Tyl may suit SMEs wanting NatWest-backed payment services and clear entry-level pricing. Worldpay may suit businesses wanting a major direct merchant services provider.
Is Tyl better than Barclaycard?
Both are bank-backed payment routes. The better choice depends on fees, terminal costs, settlement speed, contract terms and whether you bank with NatWest or Barclays.
Does Tyl require a NatWest business account?
Check current eligibility directly with Tyl. Businesses interested in NatWest merchant services should compare settlement, account and eligibility requirements before applying.
What are the best alternatives to NatWest merchant services?
The best alternatives include Dojo, Worldpay, Square, SumUp, Barclaycard, Elavon, Clover, TakePayments and PayPal POS.
Related Merchant Account Guides If you’re researching merchant accounts and card payment processing, the guides below explore specific providers, use cases, costs and common questions in more detail.
Merchant Account Basics & FAQs
Understand how merchant accounts work and what to expect before signing up:
Major UK Merchant Account Providers
Detailed reviews of leading UK merchant account providers and acquirers:
Payment Providers & Alternatives
Explore pay-as-you-go and hybrid payment providers often compared with merchant accounts:
Card Payments, EPOS & POS Context
Learn how merchant accounts fit into wider payment and EPOS setups:
Next Step: Compare Merchant Accounts
If you want tailored pricing based on your turnover, industry and risk profile, use our comparison tool to review UK merchant account providers side by side.
👉 Compare merchant accounts →
Hi, I’m Ally Cox , a senior copywriter and blogger at CompareYourBusinessCosts.co.uk, the UK’s trusted platform for comparing business services.over a decade of experience in the B2B sector, I specialise in simplifying complex topics like leased lines, VoIP, business energy, HR and payroll solutions, accounting software, and EPOS systems .HR, copywriting, and business operations- from clocking-in systems to card machines and office technology .informed, confident decisions when choosing products and services that improve efficiency and save money.
