In 2020, NatWest Group established the SME Taskforce with FSB to help SMEs respond to and navigate the aftermath of the COVID-19 pandemic, working together with stakeholders from across the small business landscape, the two organisations worked closely together to support customers.

Last year NatWest announced a £1m partnership with FSB to provide NatWest business customers with access to independent support and education to help with the cost-of-living crisis via webinars, and 1-2-1 phone support and webchat.

FSB members will see cost savings and other benefits by signing up with Tyl, subject to eligibility criteria as part of the partnership. Insight from Tyl by NatWest found that 8 out of 10 businesses could save on fees when switching from an existing card payment provider to Tyl by NatWest.

For the smallest businesses, Tyl offers a simple fee structure based on one low rate for personal card transactions and one for all other transactions. For bigger businesses, Tyl has a range of different fees to fit the needs of the business.

Benefits of Tyl by NatWest that could help FSB members

In addition to the possible business savings, Tyl by NatWest could help FSB members with the day-to-day running of their business through features including: choice of card machines or a phone app for in-person sales, taking payments online or over the phone, payment links and QR codes to send out so you get paid quickly and simple bills and next business day settlement.

James Holian, Head of Business Banking at NatWest commented: “FSB and NatWest share an ambition to provide strong support for the growth of entrepreneurship and small businesses in the UK, and we are excited and proud to partner with FSB in payments services for its members.”

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Mike Elliff, CEO, Tyl by NatWest said: “Small businesses are critical for our economy and our communities. At a time where the cost of trading is rising for small business owners, Tyl by NatWest is delighted to be able to partner with FSB to provide its members with a full range of cost-effective and reliable payment solutions, backed by great service.”