Tyl by NatWest Card Machine: The Ultimate Guide
Tyl by NatWest – is it right for your business? Natwest is one of the UK’s largest high-street banks. It provides card machines and processes payments for businesses across various sectors. Tyl by NatWest is its card machine provider arm. It provides a selection of portable and countertop card readers and payment processing services from Worldpay. The company strives to alleviate the financial strains micro and small businesses face today. For further information and pricing on card machines click here .
Tyl by NatWest: PAX
PAX is a pocket-sized card machine designed to meet the demands of micro-businesses and market traders on the go. Tyl by NatWest created this new product to address micro businesses’ financial strains and reduce their expenses. It comes on a monthly contract, and there are no setup fees. Furthermore, it runs 80% faster than the industry average and can integrate with most EPOS systems at no cost. Furthermore, this device can monitor business transactions in real-time.
This one features:
A sleek and user-friendly design compared to other card machines.
Plus, it allows payments from Visa, Mastercard, and American Express cards and compatibility with contactless sales.
The terminal works with various payment systems such as Apple Pay, Google Pay and Visa payWave. It may also be connected to other services, like a loyalty program.
It can be accessed from anywhere, making it ideal for business owners working from home or travelling frequently.
Another key benefit of the PAX is its connection with Tyl by NatWest, a platform offering business insights and rewards. Connected to the internet through WiFi, Bluetooth and 4G technologies, this device offers convenience and portability. This provides small and medium-sized enterprises (SMEs) with effective financial management and improved customer experiences. However, it’s worth pointing out that this service has its downsides, including additional charges to consider – particularly regarding payment solutions. For instance, a fee for using the card machine and other fees may apply. Comparing these prices with other providers is essential to get the best deal for your business.
Tyl by NatWest: Costs
Before buying an ATM from Natwest, shop around and compare prices. Tyl by NatWest Tyl, backed by NatWest, is an innovative payments provider that provides various card machines for various businesses. It can help companies take payments online, over the phone and through the bank’s app. Furthermore, they provide a loyalty programme which rewards customers for their purchases. Tyl offers direct and transparent payments with cutting-edge technology to serve its customers better. They offer various card machines and virtual payment options with straightforward pricing – plus, you can connect your accounting package with Tyl for even deeper transaction insights.
Tyl by NatWest: Who Are They?
As the most affordable standalone card machine on the market, this product provides value for SMEs that need to accept both payment methods. Setting up for Tyl by NatWest is a breeze; you’ll receive an activation code by email upon signing up for the service. After getting everything set up and running smoothly, accepting credit and debit card payments on your mobile phone, tablet, or PC has never been simpler!
Established in 2018, Tyl is a payment partner offering several ways to accept card payments. You can take them in person, by phone or online – plus, they integrate with your existing accounting software for improved transaction insights. Just follow the on-screen instructions to link your FreeAgent account with Tyl by NatWest to get started. After connecting, any invoices in your FreeAgent account with a payment link are paid and will automatically be settled through Tyl. You’ll then be able to view all transactions within FreeAgent and check any outstanding balances.
Tyl By Natwest Fees
With a starting price of £6.99 + VAT per month, its hardware costs are the most economical. In contrast, SumUp’s devices start at £39 + VAT, while Stripe’s and Revolut’s commence at £49 + VAT. However, it’s worth noting that Tyl rents its readers rather than selling them outright. While this keeps initial costs low, it does mean incurring a monthly hardware expense. Square, Zettle, and SumUp circumvent this by selling their readers.
In terms of transaction fees, Tyl occupies a middle ground. Its 1.5% fee is cheaper than Square and Zettle’s 1.75% and SumUp’s 1.69%. However, it’s pricier than Revolut’s 0.8% + 2p and Stripe’s 1.4% + 20p. Additionally, unlike these providers, Tyl imposes a higher custom transaction fee for Amex transactions.
How Much Does Tyl By Natwest Cost
Up to £50K
Over £50K
Monthly Fee
Payment gateway: £14.95 + VAT
Reader : Min £6.99 + VAT
Monthly Fee
Payment gateway: £14.95 + VAT
Reader : Min £6.99 + VAT
Transaction fees:
Custom for Amex cards
1.5%: Visa and Mastercard cards
Transaction fees:
Custom
Key Features
Free payment gateway for first 3 months
Free reader for first 6 months
No PCI compliance fee
No authorisation fees
Key Features
Free payment gateway for first 3 months
Free reader for first 6 months
Custom authorisation fees
PCI compliance fee: £4/month per store
Tyl By Natwest
Clover Flex
Ingenico Desk 3500
PAX A50
Features
Wi-Fi + 4G
Reporting on the go
Manage inventory, orders and staff
Access to Clover app marketplace
Ethernet connection
Accept phone payments
Optional customer receipts
Customisable shortcut functions
Paperless digital receipts only
Wi-Fi + 3G/4G +Bluetooth
8 hours of battery life
Completely standalone
Price
Wi-Fi only£14.99+ VAT
4G + Wi-Fi £16.99 + VAT per month
£13.99+ VAT per month
(6 months free)
Purchase outright£75.00+ VAT
Hire Monthly £6.99 + VAT per month
Tyl By Natwest Online Payments
Our Thoughts on Tyl By Natwest
Tyl presents a favourable option for medium-sized businesses, offering low transaction fees alongside fixed costs. Additionally, its range of card reader options with mobile data connectivity can be particularly advantageous for mobile businesses. However, it’s noteworthy that there is a concerning absence of user reviews and pricing transparency, often indicating that the product may not have gained significant traction in the UK market. Additionally, potential users may encounter undisclosed additional fees that only become apparent after providing personal details.
NatWest’s entry into the realm of card payment solutions is commendable, particularly as one of the few English banks offering such a service. The Tyl by NatWest solution appears suitable for sole traders and businesses in need of a standalone card terminal. However, the actual quality of the service remains uncertain, and its performance may determine whether it lives up to the initial expectations and promotion.
Nevertheless, Tyl falls short in providing multi-currency support and robust reporting tools. Businesses seeking these features may find Zettle and Stripe to be more suitable alternatives.
Card Machine Providers
Tyl by NatWest – Other Useful links about card machines:
Which is the Best Swipe Machine for Small Businesses?
Should I Buy My Credit Card Terminal?
Can I Use My iPhone As a Credit Card Reader?
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Hi, I’m Ally Cox, one of the leading Copywriter/Bloggers at CompareYourBusinessCosts.co.uk, a platform renowned for its in-depth analysis and comprehensive comparisons of business services. With over a decade of experience in the industry, I bring a wealth of expertise in areas such as leased lines, VoIP, business energy and office solutions, HR solutions, accounting, and payroll services, among others.
My journey in the industry began over 10 years ago, and my extensive knowledge enables me to provide invaluable insights to our users and customers. Prior to joining CompareYourBusinessCosts, I’ve been involved in various business ventures, gaining hands-on experience in HR and copywriting across a multitude of different sectors, gaining valuable knowledge about everything from clocking in systems to card machines, EPOS systems, payroll services, and so much more.
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