SOMETHING IS GOING ON WITH THESE GUYS. Licenced by the Information Commissioner's Office, (registration number ZA188630). RBS Business Banking Switch Scheme. As a result, we made a commitment to help increase competition in UK business banking and decrease our own market share. The cherry on top is that if you switch from RBS or NatWest to another selected provider, you will receive a further incentive. The RBS Alternative Remedies Package is a result of the government supporting the Royal Bank of Scotland (RBS) during the 2008 financial crisis. The bank FULLY admitted that somebody committed fraud on my account and then told me there was nothing they could do about the money that was STOLEN! I opened it online on 29 oct to take advantage of the switch incentive. credit broker. NatWest owner RBS began development of Bó after abandoning an attempt to acquire fast-growing banking start-up Monzo several years ago. We are a comparison website that's authorised and regulated by the Financial Conduct Authority as a © 2021 Trustpilot A/S. Selling proved harder than anticipated so an alternative Scheme was established to boost competition in business banking in the U.K. by giving financial assistance to to a number of challenger banks, funded by RBS. We always want to provide the best service to our customers - to do this, we may need to Online banking is a nightmare to access. If you aren’t a customer of RBS or NatWest and would still like to switch, check out our switcher comparison table to find the best business bank account for you. If you are eligible to switch to a new business bank through the scheme, you will need to follow these steps: If you are not eligible to continue with the Business Banking Switch scheme, head over to our switcher comparison tables to find another provider. The ISS is to encourage up to 200,000 RBS and Natwest business banking clients to switch their accounts to the challenger banks to ensure RBS meet the EU competition rules set down following the governments £45billion of RBS in 2008. Can a secured loan help build credit score? The additional incentives or offers you can claim will vary between cash and other exclusive offers available from certain providers. I'm with RBS because I have to but I don't want to be with this company. The form doesn't have a function to complain if a transaction has been taken out of your account that has not been authorized so phoned up again this morning and after 1 hour of waiting on the phone I eventually gave up. This is known as the Alternative Remedies Package or, more commonly, the Business Banking Switch. A Dantean hell if you have forgotten any of your details. and the UK lending market. help customers manage Our website is completely free for you to use but we get paid by lenders, brokers, and service providers for introductions and funded applications. The Business Banking Switch proposal has now been approved by the European Commission and you will now be able to switch. Compare business bank accounts for switchers at NerdWallet. Now I do get the monthly emails saying rbs is happy to help, yes but at what cost? Firm registration number 654425. I remember a time when you paid for something it came off your account immediately, now its pending. combine, analyse and profile your personal data. Good bank Very difficult to close business accounts needs to be more straight forward. authorised and regulated by the Financial Conduct Authority. This is a way of encouraging further competition in the marketplace, assisting the growth of smaller banks and providing customers with further incentives, such as cash, for doing so. I’m now panicking trying to sort this out so that nothing happens. their personal finances efficiently. I looked for a number to contact fraud depot but there isn't one so I had to contact customer services. and is entered on the Financial Services Register under reference number: 740565. We provide full details in our Privacy Policy. Some q's actually tell you where you are or let you rectify issues online. You will still be able to claim switch incentives that are available as standard from certain providers. Only for current RBS Business Bank Customers. They should try to be better rather than the crap that they are. Wish i could be able to give 0 stars cause that's what it deserves. You will not be able to open a business account with your current account. 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