Lloyds Cardnet vs Tyl by NatWest: 2026 Comparison
If you bank with Lloyds or NatWest, the card machine offer from your own bank is often the first one you hear about. Lloyds has Cardnet. NatWest has Tyl. Both are owned by big banking groups, both rent terminals, and both suit established businesses more than side hustles.
But they price things differently, and the cheaper choice depends on how much you take. Here's how they compare, using figures from their official UK pages, checked October 2026.
At a glance
| Lloyds Cardnet | Tyl by NatWest | |
|---|---|---|
| Small business option | mPOS reader, £49 one off, 1.75% | Published rates up to £50,000 a year |
| Personal card rate | Tailored. Example: Visa debit 0.5% + 3p authorisation fee | 1.39% + 5p |
| Other cards | Tailored | 1.99% + 5p, Amex quoted |
| Terminal rental | Everyday reader £23 a month, Clover Flex £21 a month | PAX A80 £13.99, A50 £14.99, A920 Pro £19.99 a month + VAT |
| Minimum monthly charge | £10 | None |
| Tap to Pay on phone | Lloyds Accept, no upfront cost | £0 to set up |
| Payouts | About 3 working days on mPOS | Check timing for your plan |
| Bigger businesses | Tailored above £100,000 | Custom pricing above £50,000 |
Pricing
Lloyds Cardnet
Cardnet has two very different offers. The mPOS reader is aimed at small and new businesses: you pay £49 once and 1.75% per transaction, and money arrives in about three working days.
For terminals, Cardnet uses tailored pricing, so your rates depend on your business. Its published example shows a Visa debit transaction at 0.5% plus a 3p authorisation fee, with an extra 0.25% on card not present payments and a 13p gateway fee for online. There's a £10 minimum monthly charge, and terminal rental from £21 a month for a Clover Flex (plus £10 for a SIM) or £23 for the Everyday reader. Lloyds says businesses taking over £100,000 a year can get tailored options.
Tyl by NatWest
Tyl publishes fixed rates for businesses taking up to £50,000 a year on cards: 1.39% plus 5p on personal cards and 1.99% plus 5p on other cards, with Amex quoted separately. Machine hire costs £13.99 a month for a PAX A80, £14.99 for an A50 or £19.99 for an A920 Pro, all plus VAT. Tyl says there's no minimum monthly service charge, and no charge for cancelling, card not present, international cards or refunds. Its online package is £14.95 a month. Above £50,000, pricing is custom.
What it costs on real numbers
Take a shop turning over £3,000 a month on cards at £30 a sale (100 sales), all personal cards.
| Option | Monthly cost |
|---|---|
| Lloyds Cardnet mPOS | £52.50 |
| Tyl with a PAX A80 (£13.99 + VAT = £16.79) | £63.49 |
For Tyl, that's £41.70 in percentage fees, £5 in fixed fees and £16.79 rental.
At this level, the mPOS is cheaper, though you wait about three working days for your money and the reader has fewer features.
At £30,000 a year and above, Cardnet's tailored terminal pricing may be competitive, but we can't calculate it without a quote. Ask for every rate by card type, the authorisation fees and any PCI or service charges, then compare with Tyl's published price. Our card fee calculator lets you enter custom rates.
Hardware
Tyl rents PAX terminals. The A80 is a countertop machine with a printer, the A50 is a compact mobile terminal and the A920 Pro is a portable Android terminal with a printer. See our PAX A920 Pro review.
Cardnet offers the Clover Flex, a handheld Android terminal, and its Everyday reader. The mPOS is a small reader that pairs with your phone.
Contracts
Tyl says it doesn't charge for cancelling. Cardnet's terminal agreements are tailored, so read the term, notice period and any early exit fees before you sign. Our guide to card machine contracts explains what to look for.
Banking
You don't need to bank with Lloyds to use Cardnet or with NatWest to use Tyl, but each fits most neatly alongside its own bank. If you already have a business account with one of them, the onboarding is usually smoother.
Questions to ask before you sign
Whichever bank you lean towards, put these to the sales team and get the answers in writing:
- What's the rate for each card type: personal debit, personal credit, business cards, Amex and overseas cards?
- Is there an authorisation fee or other fixed charge on each payment?
- Is there a minimum monthly charge, PCI fee or statement fee?
- How long is the agreement, and what does it cost to leave early?
- How quickly will money reach my account, and does that include weekends?
- Who repairs or swaps the terminal if it breaks?
Two quotes with every line filled in are far easier to compare than two headline rates. If something isn't on the quote, assume it'll cost you.
Pros and cons
Lloyds Cardnet
Pros - Simple mPOS option with no monthly fee - Tailored rates can be low for bigger businesses - Clover hardware and software - Lloyds Accept for tap to pay on a phone
Cons - Tailored pricing makes comparison harder - £10 minimum monthly charge on terminals - mPOS payouts take about three working days
Tyl by NatWest
Pros - Published rates up to £50,000 a year - No minimum monthly charge - No cancellation charge - Good range of PAX terminals
Cons - Fixed 5p fee on every sale - Rental adds up for low volume businesses - Amex is quoted separately
Who each suits
- New or very small businesses: Cardnet mPOS, or a pay as you go reader like those in our cheapest card machine guide.
- Established small businesses up to £50,000 a year: Tyl, for clear pricing and no minimum charge.
- Larger businesses: get tailored quotes from both and compare like for like.
Verdict
Tyl is the easier of the two to understand, with published rates and no cancellation charge. Cardnet's mPOS suits tiny volumes, and its tailored terminal pricing can be sharp for bigger businesses if you negotiate. For a deeper look, read our Lloyds Cardnet review and our Tyl by NatWest review.
FAQs
Is Tyl cheaper than Lloyds Cardnet?
For small businesses on terminals, Tyl's published pricing is easier to compare and has no minimum charge. Cardnet's tailored pricing could be cheaper for larger businesses. Get a quote.
Do I need a NatWest account for Tyl?
No. Tyl can pay into other UK business bank accounts.
Does Lloyds Cardnet have a minimum monthly charge?
Yes, Cardnet lists a £10 minimum monthly charge on its terminal pricing.
How quickly does Cardnet mPOS pay out?
Lloyds says funds arrive in about three working days.
What terminals does Tyl offer?
The PAX A80, A50 and A920 Pro, rented monthly.
Can I cancel Tyl at any time?
Tyl says it doesn't charge for cancelling. Check your agreement for notice periods.