Tyl by NatWest review
Tyl is NatWest's SMB-payments product, repositioning the bank into the modern card-acceptance market. Pricing competitive on paper for higher-volume merchants; lower headline rates than legacy bank acquirers but on shorter contract terms than Worldpay.
At a glance
- Manufacturer
- NatWest (Tyl is the SMB-payments brand)
- Acquirer
- NatWest
- Form factor
- Countertop and portable terminal options
- Contract
- 12 to 18 months typical
How Tyl by NatWest works
Tyl by NatWest is a card terminal supplied through NatWest. Form factor: Countertop and portable terminal options. Connectivity: WiFi, 4G, Bluetooth.
Cards are read at the device, the transaction is authorised through NatWest, and funds settle to your nominated UK bank account on that provider's schedule. The pricing table below shows the rate and contract.
NatWest processes the card payments, but you are still the merchant. The contract sets your PCI DSS obligations and your liability for chargebacks, so read those terms before you sign. For the FCA chain, Companies House identifier and contract terms behind this acquirer, see the Tyl by NatWest processor profile.
Pricing breakdown
| Cost component | Amount |
|---|---|
| Setup / hardware cost | Hardware bundled with monthly fee |
| Transaction rate | Published standard rate 1.39% + 5p; bespoke pricing for higher-turnover merchants |
| Monthly fee | Set by the acquirer; confirm in writing |
| Contract length | 12 to 18 months typical |
| Exit fee | Early-termination fee may apply; confirm in writing |
Verify pricing directly with NatWest before signing. UK card-acceptance pricing varies by sector, ticket size and processing volume.
Hardware and software
- Form factor: Countertop and portable terminal options.
- Connectivity: WiFi, 4G, Bluetooth.
- Card schemes accepted depend on your acquirer.
- Contactless: cards, Apple Pay and Google Pay, up to the contactless limit.
- Receipts: digital receipts by SMS or email, with no built-in printer.
- POS integrations: ask the acquirer for its current list.
Contactless payments
Status: Accepts contactless cards, Apple Pay and Google Pay
This terminal has its own contactless reader. That is different from Tap to Pay on iPhone, which turns a phone into the reader: see our Tap to Pay on iPhone review for that product. Read the Tap to Pay on iPhone review
Settlement and funds
Next-business-day settlement to a NatWest business account is standard.
Pros and cons
Pros
- + Tied to NatWest banking relationship; integration helps reconciliation.
- + Pricing competitive at higher volumes.
- + Bank-grade settlement reliability.
Cons
- − Headline rates often only available to existing NatWest business banking customers.
- − Contract lengths still longer than fintech alternatives.
- − Hardware lifecycle slower than Dojo or Square.
Best for and avoid if
Best for
- · NatWest Business banking customers
- · £20k+ monthly volume
- · Merchants who value bank-led reconciliation
Avoid if
- · Non-NatWest customers
- · Sub-£10k monthly volume
- · No-contract preferrers
FAQs
Does Tyl by NatWest require a contract?
Yes. Our record shows 12 to 18 months typical. Terms vary by acquirer, so confirm exit fees, auto-renewal and minimum monthly fees in writing before signing.
What does Tyl by NatWest cost in year 1?
Upfront hardware: Hardware bundled with monthly fee. Transaction rate: Published standard rate 1.39% + 5p; bespoke pricing for higher-turnover merchants. Contract: 12 to 18 months typical. First-year cost depends on your card volume; MerchantHQ's quote tool will model the effective cost against alternatives.
Can I integrate Tyl by NatWest with my till or POS software?
Integration depends on the acquirer and the till software. Ask NatWest for its current list of supported integrations, and confirm your till software is on it before you buy hardware.
How fast does Tyl by NatWest settle funds?
Next-business-day settlement to a NatWest business account is standard.
Can I cancel Tyl by NatWest early?
Early termination is governed by the contract. Check it for an early-termination fee or a remaining-monthly-fees clause, and get the cancellation terms in writing before you sign.
Compare Tyl by NatWest
How Tyl by NatWest stacks up against the closest UK alternatives. Pick a head-to-head matchup or jump to the full alternatives shortlist.
Tyl by NatWest vs Dojo Go Max
Hospitality-favourite fintech acquirer Dojo Go Max vs bank-owned NatWest terminal supplier Tyl, compared for UK SMBs.
Tyl by NatWest vs Tide Card Reader
Two UK bank-linked card readers compared: challenger bank Tide against NatWest-owned Tyl, for SMBs already banking with either.
All alternatives to Tyl by NatWest
4 closest UK alternatives, side by side on rate, contract, hardware and trade fit.
Official site: NatWest (Tyl is the SMB-payments brand)
MerchantHQ is owned and operated by Best Business Loans Ltd, directed by Oliver Mackman. Last updated:
Payments review: Derren Powell, payments and fintech specialist, formerly Vice President, Business Development (Merchants) at Mastercard. Independent reviewer; the MerchantHQ editorial team retains control of the final content.