Tyl by NatWest Review 2026: 1.39% Rate With Big Four Bank Backing

Tyl by NatWest is a card payment service backed by one of the UK’s Big Four banks. Launched in 2019 and operated by NatWest Group, it offers a flat rate of 1.39% + 5p per transaction for UK and EU personal cards – with no minimum monthly service charge and no setup fee. One rate applies whether you take payments in person, online, over the phone, or via Pay by Link, which is unusual: most providers charge more for online transactions.

NatWest and RBS customers get same-day settlement; everyone else receives funds next business day. Hardware is PAX-only on 12-month rental contracts, starting from £13.99 + VAT per month. Our verdict: 7/10. Tyl delivers competitive pricing and bank-backed reliability, but the 12-month hardware contract, rental-only model, and absence of EPOS integrations will rule it out for some businesses.

Any UK-registered business can apply for Tyl – you do not need a NatWest account. The application is online, with decisions typically within 24 hours and terminals shipped within 3–5 working days. Support runs 8am–11pm seven days a week, which is better coverage than many fintech alternatives. The Trustpilot rating stands at 4.6/5 from 2,102 reviews, with 92% rating it five stars – an unusually strong score for a card payments provider.

Tyl by NatWest: Company Overview

Tyl by NatWest is a card payment service launched in 2019 by NatWest Group, serving UK businesses with bank-backed reliability and a 1.39% + 5p flat rate.

Tyl (pronounced “tile”) was launched by NatWest Group in 2019 as a standalone card payments brand targeting small and medium-sized UK businesses. It operates separately from NatWest’s core banking and business finance divisions, but benefits from the same infrastructure, regulatory oversight, and financial backing.

Unlike fintech competitors such as Square or SumUp – which are payments companies first – Tyl was built by a bank. That heritage shapes the product: strong compliance processes, 24/7 fraud monitoring, and a robust dispute resolution process. It also means Tyl is FCA-regulated and subject to the same standards as NatWest’s broader operations.

• Parent company: NatWest Group plc (UK Big Four bank, part-owned by HM Treasury)
• Brand launched: 2019
• Trustpilot: 4.6/5 Excellent (2,102 reviews, 92% five-star – Feb 2026)
• Headquarters: Edinburgh, Scotland (NatWest Group HQ)
• Regulation: FCA-supervised (via NatWest Group)
• Requires NatWest account: No – any UK business can apply

The big selling point for existing NatWest, RBS, or Ulster Bank customers is same-day settlement: card takings paid during the day arrive in your NatWest business account the same evening. For everyone else, it is next business day – still competitive, but the same-day benefit is a meaningful differentiator if you are already in the NatWest ecosystem.

Pricing and Fees

Tyl charges 1.39% + 5p for UK/EU personal cards across all channels – in person, online, phone, and Pay by Link – with no monthly service charge and no setup fee.

Tyl’s pricing model is simple: one rate for UK and EU personal cards, a slightly higher rate for international and business cards, and no monthly minimum service charge. The key differentiator is that the same rate applies regardless of how you take the payment – most providers charge more for online or phone transactions than in-person ones.

Full Fee Schedule

The uniform rate across all payment channels is genuinely unusual. Square charges 1.75% in-person but 1.4% + 25p online. SumUp charges 1.69% in-person, 1.69% + 25p online, and 1.69% + 25p for Pay by Link. Tyl’s 1.39% + 5p applies to all of these – meaning businesses with a mix of in-person and remote payment needs often come out ahead compared to providers with channel-specific pricing.

Hardware: PAX Terminals

Tyl offers three PAX terminals on 12-month rental contracts from £13.99 + VAT/month, plus free Tap to Pay on iPhone and Android with no hardware required.

Tyl moved to PAX terminals exclusively for new merchants in 2024, following the discontinuation of its Clover terminal range. All hardware is available on rental only – there is no purchase option. Contracts run for 12 months. Tap to Pay (using your smartphone as a card reader) is available free of charge for both iPhone and Android.

Terminal Details

PAX A80 (£13.99 + VAT/mo): A compact countertop terminal with a colour touchscreen, integrated receipt printer, and Ethernet plus WiFi connectivity. It connects via a fixed cable, making it best suited to businesses with a permanent till point – retail shops, takeaways, coffee shops. At £13.99 + VAT per month it is the most affordable terminal in the range.

PAX A50 (£14.99 + VAT/mo): A slim, pocket-sized terminal with 4G and WiFi connectivity and a battery good for a full working day. No built-in printer – receipts are digital (SMS or email) only. Suited to sole traders, market stalls, pop-up shops, and anyone who needs to take payments on the move without a large device.

PAX A920 Pro (£19.99 + VAT/mo): A full Android smart terminal with a 5.5-inch touchscreen, front-facing camera, barcode scanner, and built-in receipt printer. Runs Android apps and is the closest Tyl terminal to a tablet-style POS. The 4G and WiFi connectivity and all-day battery make it suitable for table service, delivery operations, and higher-volume hospitality. At £19.99 + VAT per month it is priced competitively against Dojo Go (from £15/month) and PayPal POS (£29/month for the Pro 2).

Tap to Pay: Available free through the Tyl app on both iPhone and Android. Accepts contactless cards and digital wallets. No hardware required. The practical limit is the absence of a PIN pad – for high-value transactions above the contactless limit, customers cannot complete a PIN entry on a shared smartphone screen.

The 12-month terminal contract is a notable constraint. Square offers all hardware on a one-off purchase basis with no ongoing contract. SumUp also sells terminals outright. If you want to trial card acceptance for a few months or have seasonal-only requirements, the rental model with a 12-month minimum commitment may not suit you.

Key Features

Tyl includes Pay by Link, a virtual terminal, the Tyl Portal reporting dashboard, pre-authorisation, tipping, and cashback – with same-day settlement for NatWest customers.

Pay by Link

Pay by Link lets you generate a unique payment URL and send it to a customer via SMS, email, or any messaging platform including WhatsApp. The customer clicks the link, enters their card details on a hosted payment page, and you receive the funds. The transaction is charged at the same 1.39% + 5p rate as in-person payments. This is useful for service businesses that invoice after the fact, for telephone orders where a customer is not present to tap a terminal, or for remote deposits and retainers.

Virtual Terminal

The virtual terminal allows you to manually enter card details via the Tyl Portal – a web dashboard accessible from any browser. This covers mail order/telephone order (MOTO) transactions where the customer reads their card details to you. Again, the standard 1.39% + 5p rate applies to UK/EU personal cards. The online gateway subscription (£14.95 + VAT/month) is required to access the virtual terminal.

Tyl Portal (Business Dashboard)

The Tyl Portal is a web-based dashboard showing transaction history, settlement reports, refund management, and basic sales data. Reports are available hourly – not in real time. For the majority of small businesses checking end-of-day figures, this is adequate. For businesses that need live till-by-till data, or hospitality operators tracking table-level spend in real time, the hourly update cycle is a limitation. There is no mobile app equivalent to the portal – management is desktop-only outside of the card reader app itself.

Note: FreeAgent integration was discontinued in April 2025. If you relied on Tyl syncing with FreeAgent for your bookkeeping, you will need to export transaction data manually or use an alternative accounting platform. This is a notable regression for small businesses and sole traders who used the integration.

Pre-Authorisation

Pre-authorisation lets you ring-fence funds on a customer’s card before completing the transaction. This is particularly useful for hotels (holding a deposit on check-in), car hire (securing a damage deposit), and any business that charges the final amount after service delivery. Not all card payment providers support pre-auth – it is a meaningful feature for accommodation and rental businesses.

Tipping and Cashback

The PAX terminals support prompted tipping on the customer-facing screen – a standard feature for hospitality. Cashback is also supported at the terminal: customers can request up to £100 cashback alongside a transaction, which is deducted from your till and funded by the card networks. Enabling cashback can drive footfall in convenience stores and post offices. Both features are configured in the Tyl Portal.

Settlement

Settlement is next business day for all merchants by default. NatWest, RBS, and Ulster Bank business current account holders receive same-day settlement – funds taken during the trading day arrive in the account the same evening. This is a practical advantage for cash-flow-sensitive businesses, particularly in hospitality and retail where daily float management matters. There is no instant transfer option (unlike Square’s 1.5% instant transfer or Dojo’s same-day settlement for all merchants).

Pros and Cons

Tyl’s key strengths are its 1.39% uniform rate across all channels and bank-backed reliability; the main weaknesses are a 12-month rental contract and no EPOS integrations.

Tyl vs Competitors

Tyl matches Tide on PAYG rate at 1.39% + 5p, beats Square (1.75%) and SumUp (1.69%) on in-person rates, and offers no monthly fee – but requires a 12-month hardware contract unlike Square or SumUp.

Against Square, Tyl wins clearly on rate for businesses taking primarily in-person and phone payments – 1.39% + 5p vs 1.75%. Square’s in-person rate is notably higher, though Square’s broader EPOS ecosystem, free POS software, and no-contract hardware remain significant advantages. For businesses that only need card acceptance and basic reporting, those EPOS features are largely irrelevant.

Against SumUp, Tyl is cheaper in-person (1.39% vs 1.69%) and especially cheaper online (1.39% + 5p vs 1.69% + 25p). The trade-off is hardware ownership: SumUp terminals can be purchased outright from £39, giving you flexibility Tyl cannot match on a 12-month rental-only model.

Against Dojo, it is closer. Dojo’s rate is 1.4% – fractionally higher than Tyl’s 1.39% + 5p on low-value transactions, and competitive on higher-value ones given the absence of the fixed 5p component. Dojo offers same-day settlement for all merchants (not just bank account holders), and an 18-month contract rather than 12. For high-volume hospitality businesses, Dojo’s EPOS integrations (Lightspeed, Epos Now) are a significant advantage over Tyl’s zero integrations.

Compare more options: See our best card machines comparison and best merchant accounts for small business guide. Also consider Tide (same 1.39% rate, no contract) or Dojo (next-day settlement).

Who Should Use Tyl by NatWest

Tyl suits established UK businesses processing consistently each month who want a simple flat rate, bank-backed reliability, and no minimum monthly charge – particularly NatWest customers who benefit from same-day settlement.

Tyl is a good fit if you:

• Already bank with NatWest, RBS, or Ulster Bank and want same-day settlement
• Take payments across multiple channels (in-person, phone, Pay by Link) and want one simple rate
• Run a service business that regularly takes phone or remote payments – 1.39% + 5p vs competitors’ higher MOTO rates
• Want bank-backed credibility and support – useful if your customers are sensitive to who processes their payments
• Process consistently month-to-month and can commit to a 12-month hardware contract
• Do not need EPOS software integration and are happy with standalone terminals

Tyl may not be right if you:

• Need EPOS integration with platforms like Lightspeed, Epos Now, or Square for Retail
• Want to buy hardware outright without an ongoing rental contract
• Have seasonal or temporary payment needs where a 12-month commitment does not make sense
• Rely on FreeAgent for bookkeeping and want direct accounting integration
• Need real-time reporting for live floor or shift management
• Are a very early-stage business uncertain about consistent monthly volume

Our Verdict

Emma Clarke

Technology & Payments Specialist

Emma covers the full range of business technology, including EPOS systems, merchant accounts, telecoms, and web tools. Her experience as a retail systems consultant helps businesses choose the right digital solutions to improve efficiency and sales.

Reviewed by

Sarah Mitchell

B2B Commerce & Finance Reviewer