Starting with RBS
Advice and guidance
Industry specific services
Managing your accounts
Switching to RBS
Get the service you deserve
Moving your banking arrangements to The Royal Bank of Scotland is easy.
Banking with The Royal Bank of Scotland could be one of the best business decisions you'll ever make. And in around two weeks' of opening your account, you'll see exactly what we mean.
Why bank with us?
- Accountability - your Business Manager is your dedicated point of contact. You can contact them directly by phone, mobile or email
- Local knowledge - our Business Managers understand the local and UK business environment
- Choice - we have an extensive range of products and services that will support your business every step of the way
- Switching made easy - our dedicated switcher unit makes it easy to switch your accounts to The Royal Bank of Scotland
- Support - your Business Manager is with you every step of the way
Switch to The Royal Bank of Scotland
Experience the personal service and quality approach you expect from your business bank - by switching your accounts to us. We can arrange for your regular outward payments to be transferred from your old bank and set up on your new account. We can also help to:
- Cancel regular outward payments on your old account
- Transfer funds from your new account to clear an overdraft on your old account
- Transfer your credit balance from your old account to your new account
- Close your old account
- Bespoke lending - we don't simply tick the boxes on a form. We listen to your needs and judge everything on its merits. We're also experts in tailored lending, and not just for multi-million pound corporations.
- Named contact - when you need to speak to someone in your branch, you can. It's as simple as that.
- Specialists on hand - your branch is the gateway to a wide range of experts who can help your business.
Joining The Royal Bank of Scotland
We aim to have your new account fully working in just 10 days. Here's how:
| What we do | When we aim to do it |
|---|---|
| Open your account - we take care of all the basics, such as generating your account number | Within just two working days |
| Direct Debits and Standing Orders - when we receive a list of these from your old bank, we put them in place for your new account. | By close of business on the third working day following receipt of the list, or any later date agreed with you. |
| Transfer your balance - if you ask us to, we can arrange for your old bank to transfer your remaining credit balance to your new account | By close of business on the second working day following receipt of your request or any later date agreed with you. (Doesn't apply to accounts with a secured overdraft.) |
| Clear your overdraft - if you ask us (and subject to meeting our lending criteria) we can transfer funds from your new account to your old bank, to clear your overdraft (including interest and costs) with them. | By close of business on the second working day following receipt of your request or any later date agreed with you. (This doesn't apply to accounts with a secured overdraft.) |
Leaving The Royal Bank of Scotland - If you move your account to a new bank
We hope this won't happen, but if you decide to move your account, we will assist the other bank in making similar arrangements in connection with setting up your new account with them.
Our commitments to you when you are moving your account from us:
| What we will do | When we will aim to do it |
|---|---|
| If requested (and this is authorised by you), we will provide your new bank with a list of your existing Direct Debits and Standing Orders. | By close of business on the second working day following receipt of the request. |
| If requested (and this is authorised by you), we will cancel your Direct Debits and Standing Orders. | By close of business on the second working day following the receipt of the request or any later date agreed with you. |
| If requested (and this is authorised by you), we will transfer the remaining credit balance on your account to you or to your new bank account. If requested (and this is authorised by you), we will also close your account with us. | *We will transfer any credit balance by close of business on the third working day following receipt of the request. However, if we have been requested to close the account this will take an additional working day (i.e. four working days in total) whether the account has a credit or zero balance. |
| On receipt of sufficient cleared funds, to clear the balance of any overdraft (including interest and costs), the outstanding balance will be cleared and, if requested (and this is authorised by you), we will arrange to close your account. | *Within 3 working days following receipt of the funds. An additional working day is required if we have been requested to close your account. |
*NB: These targets are not applicable to an account with a secured overdraft.
We will always aim to meet these timescales, however occasionally there may be exceptional circumstances in which they cannot be met. Should this be the case we will endeavour to keep you informed of any delays and update you on the progress of your request.
We are committed to giving you a high quality service at all times, however if in the course of transferring your account into or out of The Royal Bank of Scotland you have reason to complain, please refer to your Business Relationship Manager, Service team contact or branch. Alternatively for more information on making us aware of any concerns you may have, please refer to our "Service – Making It Better" leaflet.
Where you have incurred a charge, including interest, we have made, which is wholly due to our failure to meet one of the time scales listed above, whether we are your old bank or your new bank, we will cancel the charge, and if you have already paid it, reimburse this to you.
If you are a small or medium sized enterprise** and these timescales are not met when you are moving your account to a new bank and this is wholly due to a failure on our part, you will be entitled to make a claim for payment, by contacting your Business Relationship Manager or Service Team* contact.
* For CIB, Corporate & Commercial customers only. ** A Small or Medium Sized Enterprise is defined for these purposes as "a business or group of businesses that, in respect of a given financial year applying to it, has annual sales revenues of no more than £25 million".
Moving your account to and from The Royal Bank of Scotland
We make a series of commitments to you when you decide you want to move your account to and if you decide to leave The Royal Bank of Scotland. Every six months we publish results indicating how we perform against each of these commitments The results are obtained by way of monthly sampling and are given in the tables below.
Joining The Royal Bank of Scotland
Jul - Dec 2007 performance
| Our commitment | Timescale | Result |
|---|---|---|
| When we receive a list of your Direct Debits & Standing Orders, we will arrange to set these up on your new account | By close of business on the third working day following receipt of the list, or any later date agreed with you | 98.1% |
| If requested (and this is authorised by you), we will arrange for your old bank to transfer your remaining credit balance to us. | *By close of business on the second working day following receipt of your request or any later date agreed with you. | 100% |
| If agreed with us in advance, we will transfer funds from your new account to your old bank, to clear your overdraft (including interest & costs) with them. | *By close of business on the second working day following receipt of your request or any later date agreed with you. | 100% |
* NB: These targets are not applicable to an account with a secured overdraft.
Leaving The Royal Bank of Scotland
Jul - Dec 2007 performance
| Our commitment | Timescale | Result |
|---|---|---|
| If requested (and this is authorised by you), we will provide your new bank with a list of your existing Direct Debits and Standing Orders. | By close of business on the second working day following receipt of the request. | 96.2% |
| If requested (and this is authorised by you), we will cancel your Direct Debits and Standing Orders. | By close of business on the second working day following the receipt of the request or any later date agreed with you. | 98.1% |
| If requested (and this is authorised by you), we will transfer the remaining credit balance on your account to you or to your new bank account. If requested (and this is authorised by you), we will also close your account with us. | *We will transfer any credit balance by close of business on the third working day following receipt of the request. However, if we have been requested to close the account this will take an additional working day (i.e. four working days in total) whether the account has a credit or zero balance. | 98.1% |
| On receipt of sufficient cleared funds, to clear the balance of any overdraft (including interest and costs), the outstanding balance will be cleared and, if requested (and this is authorised by you), we will arrange to close your account. | *Within 3 working days following receipt of the funds. An additional working day is required if we have been requested to close your account. | 98.1% |
* NB: These targets are not applicable to an account with a secured overdraft.