Overview

• From August 30, cash transaction fees will climb from 70p to 95p per £100, cheque charges will increase from 70p to 75p each and BACS instructions will cost 21p with file processing fees rising to £5.35
• The new fee structure is fixed until at least September 2027, marking the end of a seven-year pause on business banking charges
• Exemptions apply to businesses with free banking, including new firms under £1 million turnover, charities and community organisations under £100,000 and switched accounts under £2 million for two years
• NatWest said the changes respond to higher service provision costs and compressed margins following Bank of England rate cuts
• Peers such as Santander and Lloyds are also adjusting business account offerings with higher-yield savings, switching bonuses and targeted service withdrawals to manage cost pressures