Many RBS business banking customers are being offered financial incentives to move to other banks. These incentives include cash payments ranging from £750 to £50,000 depending on turnover, additional cash payments based on lending balances and periods of free or discounted bank charges moving forward.
If you are an RBS business customer you should have had correspondence from the bank bringing this to your attention, but we have a least one client who thought it was a scam. It isn't and we urge you visit this link to see if you are eligible. From this link you will be able to view your available offers.
If you are eligible to switch one important consideration will be how well your new bank's systems integrate with your Xero, Quickbooks or FreeAgent software. If you require any advice from us please give us a call 01942 760500.
The background to this is the financial support that the bank received from the UK government in 2018 and 2019, as a result of which they made a commitment to help increase competition in UK business banking.
The following banks have been selected to take part in the scheme and may have made you an offer.
Santander, Clydesdale & Yorkshire Bank, Handelsbanken, The Co-operative Bank, TSB, Metro Bank, Starling Bank, Arbuthnot Latham & Co and Hampden & Co