The sale of NatWest branches in Scotland and certain customer accounts to Santander

In August 2010, we announced the sale of NatWest branches and accounts in Scotland and RBS branches and accounts in England and Wales to Santander. The sale follows an agreement reached with the European Commission in December 2009 and is expected to complete during the second half of 2012, subject to certain conditions.

The sale includes NatWest branches in Scotland as well as RBS branches in England and Wales. In addition, it includes certain accounts held by Business and Commercial customers attached to these branches and certain accounts held by customers of NatWest and RBS Direct banking business. In addition, certain mid-corporate customers across the UK will also be included in the sale.

Working together for a smooth transfer

Making the process easy for customers has been at the forefront of our thinking and over recent months both banks have been working on ensuring a smooth transition.

What this means for Business & Commercial Banking Customers

If your business account is at a NatWest branch in Scotland or if you are a Direct Business Banking customer your local branch and your accounts included in the sale are likely to transfer to Santander when the sale is completes. We now expect the sale to complete during the second half of 2012, subject to certain conditions.

If you have an account at a NatWest branch in England or Wales, the sale is unlikely to affect you. All NatWest branches in England and Wales will remain part of the RBS Group.

However, if you are a Direct Business Banking customer, your accounts included in the sale will transfer to Santander when the sale completes.