RBS Business Banking Switch

Hampden & Co is participating in the RBS Incentivised Switching Scheme

The Business Banking Switch scheme is part of RBS' commitment to HM Treasury and the European Commission to encourage competition in the UK small and medium-sized enterprise (SME) business banking market, as a result of the state financial support it received during the financial crisis in 2008 and 2009. Hampden & Co are participating in this scheme, as we currently provide banking services to many business owners. To find out more about Hampden & Co, please take a look around our website or do get in touch. We have noted down some specific Questions & Answers about the RBS Business Banking Switch scheme below:

  • What is the RBS Business Banking Switch scheme? Is this the same as the Incentivised Switching Scheme?: The RBS Business Banking Switch scheme is designed to encourage certain RBS and NatWest clients to switch their banking to an alternative provider, and has been created as a result of the state aid that RBS received in 2008 and 2009. This scheme has been titled "Business Banking Switch" by RBS, for their eligible clients, and this is the same as "Incentivised Switching Scheme", which is the name used by Banking Competition Remedies Ltd, the organisation created to oversee the programme.
  • Who can take part in the scheme?: The scheme is only available to certain specific clients of RBS and NatWest. If you are a client of one of these banks, and are not sure whether you are eligible for the scheme, then your bank will be able to let you know.
  • When does the scheme launch?: The scheme launched on February 25th 2019.
  • As a qualifying client, how can I switch to Hampden & Co?: If you are an eligible client, RBS or NatWest should already have been in touch. Both RBS and NatWest are hosting dedicated microsites for their eligible clients that allows you to see all offers available to you from the banks that are participating in the scheme. You can use the microsite to review these offers, and decide which of them you would like to find out more about. You can then submit your interest for any of the offers that you think might be right for you, and the relevant banks will then be in touch. Asking to find out more about any of the offers will not commit you in any way to transferring your banking.
  • Why are Hampden & Co participating?: Hampden & Co provides a personal, professional banking service delivered by our experienced Private Bankers. Many of our current clients are business owners, who value both the fact that they are able to talk to one individual for both their personal and their business banking needs, and also that banking arrangements can be tailored to their unique circumstance.
  • What is Hampden & Co's offer: RBS and NatWest have published all available offers on the dedicated website it has created for eligible clients, and Hampden & Co's offers are included on these microsites.
  • Why would I switch to Hampden & Co?: Hampden & Co provides an award-winning Private Banking service - having been named "Private Bank of the Year (UK)" by Spear's Wealth Management in November 2018. We provide a personal, professional banking service, and all of our clients have a dedicated Private Banker, who looks after their needs, and the needs of their family and business interests. We have many business owners as clients, who value the fact that they can speak to one professional for both their business and personal banking needs, and that these needs can be tailored to their individual circumstance. Hampden & Co has offices in Mayfair, London and on Charlotte Square in Edinburgh, and from these locations we serve businesses who do not require a significant volume of cash and cheque transactions.

If you would like to hear more about Hampden & Co please do get in touch.

More information about the programme is available on the Business Competition Remedies Ltd website.

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