Natwest Bankline is an online banking service, made for business or entrepreneurs to help in their business finances like managing of their day to day money transactions, money transfer, international or domestic payment etc.
Natwest introduced bankline which is lot beneficial to business owner be it small or large enterprise. As long as you have natwest current account you are good to go.
Natwest Bankline gives you complete control of your accounts. You can tailor the access rights and user privileges for each of your accounts to suit your business needs, and view balances in real time. If you have enrolled in nwolb bankline, you have access to 999 of your company’s sterling or currency accounts held with NatWest, including accounts held by subsidiaries.
Features of Natwest Bankline
The features or benefits are below;
Get online access to real-time banking information. Once a registration has been approved, that user can add additional accounts themselves – there’s no limit to the number of users.
Import payment files and get instant, accurate views of your finances. Send money quickly and cheaply using standard domestic payments, CHAPS, Faster Payments or international payments.
System administrators have complete control over users, roles and functionality. Payment limits can also be set for individual users.
View accounts individually or in groups, access recordings of key activities for auditing purposes and see online copies of paper vouchers such as cheques.
Safe and secure
Bankline keeps your finances safer with the latest security and encryption technology. Multi-level password, PIN and user ID protection, smart card security for making payments and Trusteer Rapport for extra protection.
Get support from natwest FAQs, user guides and the Bankline telephone helpdesk. And there’s no need to download new software – updates are made automatically.
Natwest Bankline allows you to view balances in several different ways.
- Last night’s ledger: the ledger balance, including all uncleared items, as at the close of the previous business day.
- Last night’s cleared: the ledger balance excluding all uncleared cheques credited to the account, as at the close of the previous business day.
- Today’s ledger: the ledger balance including all uncleared items, plus debit and credit transactions known to us at the beginning of the business day.
- Today’s cleared: the balance for the account, including debits and credits that have been cleared or are due to clear that day. Please note, this balance doesn’t reflect items that are reversed and other items passing throughout the day.
Please note: only balance information for accounts held with us are available in real-time in Bankline. This means that items are shown as they are received and processed during the day. However, items are subject to verification and possible reversal or adjustment.
While this provides an indication of the balance which can be paid from your accounts, items can still be returned unpaid and this balance doesn’t guarantee that finality has been achieved on these items. For example, funds may show as cleared for interest and available funds purposes, however, you should allow at least four working days before you use the money from a cheque paid in. In some cases cheques may still come back unpaid after this time.
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Natwest Bankline Payments and Transfer
Process payments and transfers immediately, the next business day or on a date you choose. You can view all payments and inter-account transfers that have been confirmed and see the real-time status of the transaction progress.
Your business can make payments using Faster Payments or CHAPS through Bankline.
- Faster Payments is a service for making immediate payments under £250,000.
- CHAPS is an electronic, same-day settlement network for commercial and inter-bank payments.
When transferring funds between any of your sterling and currency accounts registered in Bankline, you can choose the currency you wish the transfer to be made in. For international payments or currency inter-account transfers, you can book a foreign exchange rate in advance or let Bankline automatically book a rate for you.
Inter-account transfers (IATs)
Your business can transfer funds between sterling and currency accounts registered on Bankline as often as you like. In most cases the transferred funds are visible and available for use immediately. Interest continues to be calculated on the closing balances of your accounts every day.
If your business holds accounts with RBS and NatWest, you can transfer funds between these accounts as a Faster Payment (value up to £250,000).
If you make regular payments to the same beneficiary, you can save time by creating a template for future use. It’s also easy to create a template for regular IATs.
Payment file import and data export
Payment files can be imported into Bankline from accounting systems such as Sage and Pegasus as a comma separated variable (CSV) file format or BACSTEL- IP format.
You can also export account information from Bankline enabling you to manipulate it into a more convenient format, or use it in other applications. Data can be exported in a range of formats: Bankline (.csv), SWIFT and BAI version 2.
How to Register for Natwest Bankline
To enroll or register for Natwest Bankline, you need to call the helpline on 0345 030 3109 and you will follow up based on what they ask you to do. The Lines open 8am-6pm, Mon-Fr