NatWest Group has today announced a new partnership with the Federation of Small Businesses (FSB).
This official payments partnership, builds on the support the NatWest Group has given to FSB over the years as the UK’s biggest bank for businesses.*
In 2020, NatWest Group established the SME Taskforce with FSB to help SMEs to 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.
Just last year NatWest announced a £1million 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 (where the card is issued in the UK or Europe) and one for all other transactions. For bigger businesses, Tyl has a range of different fees to fit the needs of the business.
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
Take payments online or over the phone
Payment links and QR codes to send out so you get paid quickly
Simple bills and next business day settlement
Tyl Portal for access to constantly updated sales data day a week UK-based service and support line
Tyl is part of NatWest which brings trust, security and experience to ensure safe payments
Available now, FSB members could be up and running with Tyl in just 48 hours.
James Holian, Head of Business Banking at NatWest comments: “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.”
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.”
Caroline Lavelle, Chief Commercial Officer, FSB, said: “I’m delighted to form this partnership with Tyl by NatWest. We have a long-standing history of working with NatWest on various business initiatives and look forward to this next step in our relationship.
“As many of our members, and the wider UK small business community, continue to navigate the increasing cost of trading, an opportunity to make savings on payments, which is core to every business, will be well-received.”