For many small businesses, non-traditional banks and eBanks increasingly make the most sense because of costs and offerings for small business. If you prefer the reliability and protection of a high street bank, NatWest offers a surprisingly tempting card reader for small UK businesses with Tyl by NatWest.
This review covers the Tyl by NatWest card reader, pricing, offerings, and features, so you can see if it’s the best fit for your small business.
What is the Tyl by NatWest Card Reader?
Tyl by NatWest is a card reader, online payment gateway, and merchant account designed for small UK businesses.
The offering is an alternative designed by NatWest for small to medium businesses and geared towards those making £100,000 or more per year. If you earn less, you’ll still qualify, but you might not qualify for starter discounts and subscription discounts.
Key Features
- Accept payments anywhere including online
- Get paid the next day for no extra fee
- Includes business banking
- Pay for what you need
- Minimum contract duration of 12 months
- Tap to Pay available
Card Readers
Tyl by NatWest offers a selection of card readers, meaning you can choose the one that best suits your business. Here, you’ll have to keep in mind that hire rates vary.
In addition, Tyl by NatWest card readers are only available with a monthly subscription. Tyl by NatWest offers the first 6 months of hire for free for 12-month contracts.
- All-in-One POS – For £16.99 + VAT per month, you get a Clover Point of Sale station, ideal for service industry, retail, and mobile sales. The 5.99-inch touchscreen makes it easy to select products, add listings, and more. Plus, with a printer built in, you can easily print receipts for customers. What else? You will get an extra charge for 4G data usage, up to £9.99+ VAT.
- Pocket – For £9.99 per month + VAT, you get the PAX A50 card reader. This includes a simple point of sale solution, 4.5” color touchscreen, and paperless receipts. You can opt to use Wi-Fi or Bluetooth over your mobile phone to reduce 4G charges.
- Tap to Pay – Use your Android or Apple phone as a tap-to-pay device to accept contactless payments and digital wallet payments. This option is free to use except for the transaction costs.
- Portable – For £19.99 + VAT per month you get an Ingenico Move 3500 portable card machine. This is a standard card reader complete with everything you need to take payments over Wi-Fi, print receipts, and accept all standard UK payments.
- Online Payment Gateway – At £14.95 per month, you can install an online payment gateway to accept payments via your website, payment links, or QR code payment.
What’s the verdict? With plenty of different card machine options, Tyl by NatWest stands out from many competitors which only offer one. However, with a mandatory monthly fee for machine hire, it’s also more expensive than many competitors.
Tyl by NatWest works with third-party suppliers for its card machines. This means you can also contact customer support to potentially use a card reader you already own, providing it is supported by NatWest. That could save you on your subscription, but you should still expect to pay a monthly fee.
Fees and Rates
Tyl by NatWest Card Readers use a flat-rate transaction fee per payment. That’s 1.39% + 5p for all UK and EU personal cards and 1.99% + 5p for all other cards. Those rates are highly competitive, especially compared to other high street offerings.
If you process a higher transaction volume (£100,000+) you can also negotiate lower rates.
Daily Settlements
Tyl by NatWest also offers next-day settlement, meaning funds hit your bank account within one business day of making the sale. That’s much faster than most competitors, which typically offer 1-3 days. So, NatWest processes payments faster at no extra cost.
Business Bank Account
The Tyl by NatWest account comes with a business bank account. This means NatWest offers full payment processing and merchant account services.
However, you may be able to connect Tyl by NatWest to your own bank account if you prefer.
Tyl by NatWest Card Reader Reviews
Tyl by NatWest is one of the highest-rated card reader options in the UK.
In fact, with a TrustPilot rating of 4.7, it’s rated above many competitors for micro business. On TrustPilot, Tyl by NatWest has roughly 2,000 reviews, almost all of which are positive. Reviewers cite great customer service, saving money over other high street banks, and transparent terms and costs.
- Customer Service – Most Tyl by NatWest reviews specifically highlight that customer service is fast, friendly, and informative.
- Straightforward – Tyl by NatWest is consistently praised for being easy to set up and use. One 78-year-old customer even states that they were able to get additional help with setup and application was finished in just a few days!
- Transparent Fees – Customers consistently quote peace of mind of having transparent fees versus former experiences with high street banks, with many even noticing that they are saving over their prior subscription.
Tyl by NatWest is highly rated everywhere:
| Site | Trustpilot | Apple | Android | Capterra |
|---|---|---|---|---|
| Rating | 4.7 | 3.0 | 4.7 | 4.8 |
Tyl by NatWest Card Reader Alternatives
Tyl by NatWest card readers are aimed at small and micro businesses. That makes their biggest competitors Lopay, Tide, TakePayments, SumUp, and Square. Here’s how those competitors compare in terms of price, monthly payments, and offerings.
| Provider | Tyl by NatWest | LoPay | Tide | TakePayments | SumUp | Square |
|---|---|---|---|---|---|---|
| Card Reader Cost | Included in Monthly | £24-£49 | £79-£199 | Custom | £34-£349 | £19-£599 |
| Monthly Fee | £9.99 + | £0-£15 | £0 | Yes | £0-£19 | £0-£29+ |
| Transaction Fee | 1.39% + 5p-1.99% + 5-=p | 0.79%-1.79% | 1.5%-1.95% | 0.3-2.5% | 0.99%-1.69% | 1.75%-2.5% |
| Accepted Payments | Chip & Pin, Digital wallets, contactless | Chip & Pin, Contactless, Digital Wallets | Chip & Pin, Contactless, Digital Wallets | Chip & Pin, Contactless, Digital Wallets | Chip & Pin, Digital wallets, contactless | Chip & Pin, Digital wallets, contactless |
| Connectivity | WiFi, Bluetooth, 4G | WiFi, Bluetooth | WiFi, 4G, Bluetooth | WiFi, 4G, Bluetooth | WiFi, Bluetooth, 4G | WiFi, Bluetooth, 4G |
| Payouts | Daily | Daily, Weekly, Monthly, Instant | 1-3 Business Days | Next day | Next day | 1-2 Business days, Instant |
| Tap-to-Pay | Yes | Yes | Yes | No | Yes | Yes |
| Trustpilot Rating | 4.7 | 4.5 | 3.9 | 4.9 | 4.1 | 4.2 |
As the only option on this list with mandatory monthly service charges for everything but the Tap to Pay solution, Tyl by NatWest may be more expensive than some alternatives. However, you get peace of mind with a high street bank.
In addition, you get full scalability. That makes this one of the best options for SMEs rather than small and micro businesses.
Why Choose the Tyl by NatWest Card Reader?
Tyl by NatWest stands out with flat-rate pricing, multiple card readers, and quality customer service. Here’s why you might want a Tyl by NatWest card reader for your business.
High Street Peace of Mind
NatWest is one of the largest banks in the UK. That means you’ll get service options, features, and scaling opportunities that you wouldn’t with a smaller bank. This is a bank that everyone trusts.
That also means that the bigger your business, the better your rates will be. If you process over £100,000 in transactions per year, NatWest will offer you custom rates. That means you can save over the 1.39% + 5p standard transaction fee.
Flat-Rate Fees
Tyl by NatWest is designed to be transparent. All fees are listed upfront and in the quote. You’ll know what you’re paying, even if you accept international cards. Plus, with flat rates for UK and EU cards, you can take payments from everywhere without seeing a rate increase.
You’ll have to consider the monthly hire rate for your card machine(s), any additional subscriptions you have, 4G costs which cap at £9.99 + VAT, and the transaction rate. That’s it.
Multiple Card Readers
You’ll get plenty of options when you go to buy a card reader. That’s true whether you need a point of sale or prefer something simpler.
In addition, if you want to keep costs to a minimum, you can use your phone to accept contactless payments for no monthly charge.
Summary: A Top-Rated Card Reader from One of the UK’s Biggest Banks
Tyl by NatWest is one of the few card reader options for small businesses offered by a high street bank. However, that can be a downside. For example, you’ll have to sign a minimum of a 12-month contract. In addition, you’ll have to do your business banking with NatWest –although other small business card reader providers require that as well. What else? You’ll pay a monthly hire fee for any card reader with Tyl by NatWest. Still, with high competitive transaction rates and completely transparent costs, this is one of the best options out there if you want to hire your card reader from a high street bank.
If you want to compare options, use the form below to request a quote from the top card reader providers in the UK. We’ll look at your needs and select the options that offer the best rates and services for your needs.