DOCSLIB.ORG

Confirmation of Payee Responses to Consultation

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Confirmation of Payee Responses to Consultation General directions for the implementation of Confirmation of CP18/4 Responses Payee: Responses to consultation Contents Anonymous 1 4 Anonymous 2 8 Association of Independent Risk & Fraud Advisors (AIRFA) 14 The Association of Corporate Treasurers 31 Atom Bank 36 Bank of America Merrill Lynch 46 Barclays 48 British Retail Consortium (BRC) 61 Building Societies Association (BSA) 63 CashFlows 71 CBI 75 Clydesdale Bank PLC 79 Dudley Building Society 82 Electronic Money Association (EMA) 84 Emerging Payments Association (EPA) 95 Experian 100 HSBC Bank PLC 107 HSBC UK Bank PLC 112 Information Commissioner’s Office 130 Industrial Bank of Korea 132 Link Asset Services 135 Lloyds Banking Group PLC 140 Member of the public 151 National Trading Standards (NTS) 153 National Westminster Bank PLC 157 Nationwide Building Society 168 Open Banking Implementation Entity 177 Ordo 184 Santander UK, plc 191 Payment Systems Regulator May 2019 General directions for the implementation of Confirmation of CP18/4 Responses Payee: Responses to consultation Secure Trust Bank 195 Societe Generale 201 SWIFT 207 Transpact 211 TSB Ltd 216 UK Finance 233 Ursa Finance 242 Virgin Money 246 Visa 250 Which? 257 WorldFirst 263 Worldpay 265 Yorkshire Building Society 267 Names of individuals and information that may indirectly identify individuals have been redacted. Payment Systems Regulator May 2019 General directions for the implementation of Confirmation of CP18/4 Responses Payee: Responses to consultation Anonymous 1 Payment Systems Regulator May 2019 4 PSR Questionnaire Question 1: Is giving directions under section 54 of FSBRA to PSPs requiring them to introduce CoP the right approach to securing our objectives, in particular to reduce significantly losses and harm from APP scams and accidentally misdirected payments as soon as possible? Are there other approaches that would lead to the same outcomes that we should consider, and, if so, what are they? Do you have any other comments on the issues raised above? Answer: We agree that this is one approach but seems complex and difficult to implement in the time frame. Another way would be to implement a process whereby the receiving bank checks the name and the account number match prior to the credit being processed. Question 2: Assuming directions in respect of FPS and CHAPS are given, are there any types of PSP that should not be given the directions? What is the basis for your view, particularly having regard to the likelihood of achieving the benefits of CoP? Answer: Directions should be directed at the participants (member banks) of CHAPS & Faster Payments. Considering the proposed process covers 24/7, 365 days a year it would not be possible for an agency bank like us to implement in the time frame suggested. Currently our systems are open Monday to Friday between 8.00 & 18.00. Question3: Should the same PSPs be subject to a requirement to respond to a CoP request as those that are required to send a request? Answer: Yes the participants (member banks) should be subject to a requirement to respond to a CoP request as those that are required to send a request. A Partial solution should be designed for agency banks because of the different business hours they have. Question 4: Do you think that we should consider giving directions in relation both to FPS and CHAPS transactions? If you believe that we should consider giving directions in relation to only one of these payment systems, or more than FPS and CHAPS, please set out why. Are there any other issues that we should consider when deciding which payment systems should be in scope? Answer: Makes sense to offer directions for both FPS and CHAPS, but in our view BACS should also be included. Question 5: Should the directions apply to all payment channels that an FPS or CHAPS payment can be initiated from? Should a CoP request only apply when a new payment mandate is being set up or changed? Answer: If CoP is implemented it makes sense to all payment channels but consideration should be made for agency banks. Question 6: How should any directions deal with the potential for people to opt out of the CoP process? Answer: The idea of CoP is to reduce the amount of fraud in the market why would you want anyone to opt out as long as confidentiality is guaranteed. Question 7: Should any directions cover the sending of money from both individual and business accounts? Answer: We believe it should. We only hold business accounts but this is definitely an issue which has affected our customers. 5 Question 8: Should the directions separate out responding to CoP requests from being able to send CoP requests? Should directions cover both sending and responding? Should directions cover both sending and responding? Answer A: Yes, but different rules should apply to different types of PSP’s Answer B: Yes both sending and responding should be covered. Question 9: Do you agree with the deadlines for the introduction of CoP? If you do not agree, please set out why you consider different dates would be more appropriate and your view of the impact that would have on the costs and benefits of CoP. If the dates are not considered achievable, please give reasons and alternative dates that you consider achievable and the reasons why. Answer: Based on what we see the following conclusion/restrictions: • Currently we see no obligation to offer the service by regulatory requirement. If a receiving bank does not offer Confirmation of Payee then the paying customer will be advised that the recipient (or payee’s) account name is unable to be checked. However, we understand that the PSR might be considering regulatory intervention to ensure that PSPs implement CoP in a timely and coordinated way. • Our payment infrastructure of foreign branches is not 24/7/365 ready, which means that implementation is very critical from IT architecture point of view. • Implementation costs are not known but expected to be very high due to infrastructure dependencies. • We do not have any technical specifications regarding the new service; a detailed assessment is therefore very difficult. Especially when it comes to the infrastructural topics, matching algorithms, connectivity and interfaces. • Targeted start dates are totally unrealistic even if other restrictions would not apply. As far as the consultation paper is concerned, we see difficulties in answering the questions correctly and effectively. It should be pointed out that the deadlines set (for consultation as well as for implementation) cannot be reached. Question 10: Are there any alternative approaches that we should consider instead of giving directions to PSPs as set out in this document? Answer A: Validation of account name and number for incoming payments prior to the credit being booked. Answer B: A centralised database could be created for all account number and sort codes for all PSPs. Question 11: Is our assessment of the benefits the right one? If you do not agree, please set out what you consider would be more appropriate and your view of the impact that would have. Answer: Unable to assess without further analysis Question 12: Is our assessment of the costs the right one? If you do not agree, please set out what you consider would be more appropriate and your view of the impact that would have. Answer: Unable to assess without further analysis Question 13: Is our assessment of the trade-off between costs and benefits the right one? If you do not agree, please set out what you consider would be more appropriate and your view of the impact that would have. Answer: Unable to assess without further analysis 6 Question 14: What is your view on the impact of the proposed dates in our approach to the trade-off between costs and benefits. Do you consider that imposing April and July deadlines impacts either the costs or benefits of implementing CoP relative to a later implementation date – for example, 2020 or later? Answer: We only have corporate clients and further analysis would be needed regarding costs, benefits and deadline for the implementation. Question 15: Do you have any comments on our assessment of the impacts of the directions we are considering on protected groups or vulnerable consumers? Do you have any evidence that will assist the PSR in considering equality issues, and in particular complying with its public equality duty, in deciding whether to give directions and considering alternatives? Answer: We do not deal with protected groups or vulnerable consumers as the bank only hold accounts for corporate clients. 7 General directions for the implementation of Confirmation of CP18/4 Responses Payee: Responses to consultation Anonymous 2 Payment Systems Regulator May 2019 8 Confirmation of Payee Consultation Payment Systems Regulator 12 Endeavour Square London E20 1JN 7 January 2019 CONSULTATION ON GENERAL DIRECTIONS ON IMPLMEMENTING CONFIRMATION OF PAYEE Thank you for the opportunity to respond to the Confirmation of Payee consultation and for agreeing to extend our response date to 7 January 2019. is supportive of initiatives to protect customers from APP fraud and misdirected payments. We are already pro-active in educating our customers about the threat of fraud and in working to reduce overall fraud levels (through work including our recent fraud awareness customer campaign and our involvement in an industry pilot on mule accounts). We recognise how Confirmation of Payee (‘CoP’) will help address some, but not all, of the challenges the industry currently face around APP scams. The key challenges as we see them are: - We agree CoP should be implemented as soon as possible for the benefit of both consumers and the industry; however, we feel the proposed timeframes pose significant challenges for given the scale of change required and would place a more onerous burden on smaller institutions like our own to deliver.
Load more

Recommended publications
  • Online Services Tariff for Business Customers
    Online Services Tariff for Business Customers This tariff should be read alongside the Business Banking Tariff Guide. It shows the details of the fees payable for our online business banking services – Business Internet Banking and Internet Banking. For information about all the other fees and costs payable for business banking services, check out our Business Banking Tariff at virginmoney.com/business Business Internet Banking Business Internet Banking Service Fees • Set up and control additional Users • Real time reporting on most business accounts • External funds transfers via Faster Payments* • Batching of individual payments No monthly subscription fee • Dedicated helpdesk support (8am – 6pm Monday – Friday) • BACS Payment capability (requires set up) • International Payment capability (requires set up) • Guaranteed same day CHAPS payment capability (requires set up) Business Internet Banking Transactional Fees Faster Payments – Auto Debit As per Auto Debit transaction charge on your Business Tariff, charged separately on a monthly basis. Standard Tariff = £0.30 per payment. BACS Payments £0.18 per payment Charge for exceeding BACS credit limit £40.00 charged separately on a quarterly basis CHAPS Payments £17.50 per payment charged separately† Copies of confirmation/advices £5.00 per item charged separately International Payments SWIFT £17.50 per payment charged separately††^ SEPA £15.00 per payment charged separately††^ Charge clause options BEN: Deducted Clydesdale Bank/Yorkshire Bank charges from amount sent (receiver pays all charges, including Other Bank charges). SHA: Debit me with Clydesdale Bank/Yorkshire Bank charges only. OUR: Debit me with all charges (payer pays all sending and receiving bank charges). Copies of confirmations/advices £5.00 per item charged separately.
    [Show full text]
  • List of PRA-Regulated Banks
    LIST OF BANKS AS COMPILED BY THE BANK OF ENGLAND AS AT 2nd December 2019 (Amendments to the List of Banks since 31st October 2019 can be found below) Banks incorporated in the United Kingdom ABC International Bank Plc DB UK Bank Limited Access Bank UK Limited, The ADIB (UK) Ltd EFG Private Bank Limited Ahli United Bank (UK) PLC Europe Arab Bank plc AIB Group (UK) Plc Al Rayan Bank PLC FBN Bank (UK) Ltd Aldermore Bank Plc FCE Bank Plc Alliance Trust Savings Limited FCMB Bank (UK) Limited Allica Bank Ltd Alpha Bank London Limited Gatehouse Bank Plc Arbuthnot Latham & Co Limited Ghana International Bank Plc Atom Bank PLC Goldman Sachs International Bank Axis Bank UK Limited Guaranty Trust Bank (UK) Limited Gulf International Bank (UK) Limited Bank and Clients PLC Bank Leumi (UK) plc Habib Bank Zurich Plc Bank Mandiri (Europe) Limited Hampden & Co Plc Bank Of Baroda (UK) Limited Hampshire Trust Bank Plc Bank of Beirut (UK) Ltd Handelsbanken PLC Bank of Ceylon (UK) Ltd Havin Bank Ltd Bank of China (UK) Ltd HBL Bank UK Limited Bank of Ireland (UK) Plc HSBC Bank Plc Bank of London and The Middle East plc HSBC Private Bank (UK) Limited Bank of New York Mellon (International) Limited, The HSBC Trust Company (UK) Ltd Bank of Scotland plc HSBC UK Bank Plc Bank of the Philippine Islands (Europe) PLC Bank Saderat Plc ICBC (London) plc Bank Sepah International Plc ICBC Standard Bank Plc Barclays Bank Plc ICICI Bank UK Plc Barclays Bank UK PLC Investec Bank PLC BFC Bank Limited Itau BBA International PLC Bira Bank Limited BMCE Bank International plc J.P.
    [Show full text]
  • A Local Relationship with One of the World's Strongest Banks
    HANDELSBANKEN A local relationship with one of the world’s strongest banks Founded in Sweden in 1871, Handelsbanken has become one of the world’s strongest banks with over 850 branches in 25 countries worldwide. We offer local relationship banking with products and services tailored to the needs of our personal and business banking customers. A local focus from day one “The branch is the bank” Handelsbanken was established in 1871 when a number of Handelsbanken’s decentralised model is central to its success. prominent companies and individuals in Stockholm’s business Each branch operates as a small business, enabling it to make world founded “Stockholms Handelsbank”. From the outset, the decisions locally and to provide a service that is truly bespoke. bank proclaimed that it would pursue “true banking activities” The branch has full power to decide the structure and pricing with deposits and loans, focusing on the local market. of products, which directly benefits the customer through swift decision-making. In 1970, Jan Wallander, the CEO at the time, brought with him a blueprint for a strongly decentralised organisation. Branches Relationships count were given power to make business decisions locally, since Handelsbanken has a different perspective from most other Wallander believed that those closest to the customer would banks. As a relationship bank, we are driven only by what understand their requirements and circumstances best. our customers want, designing tailored solutions to suit their demands. Because we are not target driven, we take a long- Operating within this new framework, Handelsbanken continued term view, investing time to get to know our customers, their to grow, building branch networks in Finland, Norway and needs and ambitions.
    [Show full text]
  • Bank of England List of Banks- May 2019
    LIST OF BANKS AS COMPILED BY THE BANK OF ENGLAND AS AT 31st May 2019 (Amendments to the List of Banks since 30th April 2019 can be found below) Banks incorporated in the United Kingdom Abbey National Treasury Services Plc DB UK Bank Limited ABC International Bank Plc Access Bank UK Limited, The EFG Private Bank Limited ADIB (UK) Ltd Europe Arab Bank plc Ahli United Bank (UK) PLC AIB Group (UK) Plc FBN Bank (UK) Ltd Al Rayan Bank PLC FCE Bank Plc Aldermore Bank Plc FCMB Bank (UK) Limited Alliance Trust Savings Limited Alpha Bank London Limited Gatehouse Bank Plc Arbuthnot Latham & Co Limited Ghana International Bank Plc Atom Bank PLC Goldman Sachs International Bank Axis Bank UK Limited Guaranty Trust Bank (UK) Limited Gulf International Bank (UK) Limited Bank and Clients PLC Bank Leumi (UK) plc Habib Bank Zurich Plc Bank Mandiri (Europe) Limited Hampden & Co Plc Bank Of Baroda (UK) Limited Hampshire Trust Bank Plc Bank of Beirut (UK) Ltd Handelsbanken PLC Bank of Ceylon (UK) Ltd Havin Bank Ltd Bank of China (UK) Ltd HBL Bank UK Limited Bank of Ireland (UK) Plc HSBC Bank Plc Bank of London and The Middle East plc HSBC Private Bank (UK) Limited Bank of New York Mellon (International) Limited, The HSBC Trust Company (UK) Ltd Bank of Scotland plc HSBC UK Bank Plc Bank of the Philippine Islands (Europe) PLC Bank Saderat Plc ICBC (London) plc Bank Sepah International Plc ICBC Standard Bank Plc Barclays Bank Plc ICICI Bank UK Plc Barclays Bank UK PLC Investec Bank PLC BFC Bank Limited Itau BBA International PLC Bira Bank Limited BMCE Bank International plc J.P.
    [Show full text]
  • Incentivised Switching Scheme (Second Window) Application Process
    Press release issued on behalf of BCR For immediate release: Thursday 18 July Banking Competition Remedies Ltd (BCR) announces the results of the second Incentivised Switching Scheme (Second Window) application process The Board of Banking Competition Remedies Ltd (BCR) is pleased to announce that, following the second application process for the Incentivised Switching Scheme (Second Window): • one new organisation applied and met the eligibility criteria; and • one organisation already accepted into ISS has had its offer to customers accepted by BCR. The new eligible applicant is: Habib Bank Zurich Plc It’s offer will go live in mid-August 2019. The existing eligible applicant is • Nationwide Building Society In the first round of applications, Nationwide Building Society was deemed eligible and accepted into the Scheme in principle pending review of its offer to customers. Nationwide has now been re- confirmed as eligible and its offer reviewed and accepted. The offer will go live in early 2020. Both Nationwide and Habib Bank now need to complete all the formalities necessary for joining the Incentivised Switching Scheme including signing of The Incentivised Switching Agreement and confirmation of operational readiness. The purpose of the Incentivised Switching Scheme (ISS) is to provide funding of up to a maximum total of £275 million to SME customers of the business previously described as Williams & Glyn, to switch their business current accounts and loans to ‘challenger’ institutions. A further maximum sum of £75m has been set aside within RBS to cover certain customers’ switching costs. The offers from the first application window went live to customers in February and a second application window was created to ensure the widest range of competitive offers are made available to customers.
    [Show full text]
  • FPS MEMBERSHIP AGREEMENT Between FASTER PAYMENTS
    Redacted Version FPS MEMBERSHIP AGREEMENT Between FASTER PAYMENTS SCHEME LIMITED and BARCLAYS BANK PLC CITIBANK N.A. CLYDESDALE BANK PLC HSBC BANK PLC LLOYDS BANK PLC NATIONWIDE BUILDING SOCIETY NORTHERN BANK LIMITED SANTANDER UK PLC THE CO-OPERATIVE BANK PLC THE ROYAL BANK OF SCOTLAND PLC -1- TABLE OF CONTENTS Clause Page 1. INTERPRETATION ............................................................................................................................... 4 2. THE SYSTEM OPERATOR .................................................................................................................. 7 3. THE MEMBERS .................................................................................................................................... 8 4. TERMINATION ...................................................................................................................................... 8 5. LIABILITY ............................................................................................................................................ 10 6. ASSIGNMENT AND TRANSFER ....................................................................................................... 11 7. EXTERNAL INTERVENING EVENT ................................................................................................... 12 8. NOTICES............................................................................................................................................. 12 9. WHOLE AGREEMENT ......................................................................................................................
    [Show full text]
  • U W Barclays 0000001369 Bank Industry Risk Analysis: U.K
    Bank Industry Risk Analysis: U.K. Banks Are Charting More Turbulent Waters continue to be supportive of overall returns. In addition, reputational damage to the sector from the Northern Rock PLC bailout should ultimately be repairable (for a full list of U.K. credit institutions rated by Standard & Poor's see table 2). Table 2 U.K. Credit Institutions Rated By Standards Poor's Long-term rating Outlook Short-term rating Retail banks Abbey National PLC* (subsidiary of Banco Santander, S.A.) AA Stable A-1+ AIB Group (UK) PLC (subsidiary of Allied Irish Banks PLC) A+ Positive A 1 Alliance & Leicester PLC* A+ Negative A-1 Barclays Bank PLC AA Stable A-1+ Bradford & Bingley PLC* NFI N/A A-1 Clydesdale Bank PLC (subsidiary of National Australia Bank Ltd.) AA- Stable A-1+ Bank of Scotland PLC AA Stable A-H HSBC Bank PLC (subsidiary of HSBC Holdings PLC) AA Stable A-1+ Lloyds TSB Bank PLC AA Stable A-1+ Northern Rock PLC* A- Watch Dev A-1 National Westminster Bank PLC AA Negative A-1+ The Royal Bank of Scotland PLC AA Negative A-1+ Ulster Bank Ltd. AA Negative A-1+ Standard Life Bank Ltd. (subsidiary of Standard Life Assurance Co.) A- Stable A-2 U.K. banks primarily operating overseas Standard,Chartered Bank A+ Stable A-1 U.K. bank holding companies Barclays PLC AA- Stable A-1 + HBOSPLC AA- Stable A-1+ HSBC Holdings PLC AA- Stable A-1+ Lloyds TSB Group PLC AA- Stable A-1 + Standard Chartered PLC Stable • N.R.
    [Show full text]
  • CHAPS Same Day Transfer Form (PDF 505KB)
    Bank Copy Check that you’re not being scammed *Mandatory Section Before you go ahead, we want to make sure that you’re not being scammed. Fraudsters can be very convincing - they may pretend to be us, the police or another trusted organisation before trying to steal your money. If you have any doubts or are being put under pressure to make this payment, please stop and let us know – we’re here to help. Take 5 To Stop Fraud. Take a look at these questions before sending any money. Please provide a response in each box when you have read the information: Yes / No Are you being told what to Virgin Money employees or the police will never ask you to move money to a ‘safe say to us? account’ or give you a story to use. Are you being rushed or Fraudsters will try to make you panic or threaten you with a penalty if you don’t pay pressured into making this straight away. payment? Are you happy that you Take a minute to think about how well you know the person you are paying and if know who you are paying? they are who they say they are. Please make sure that you’re happy your money is safe before making this payment - unfortunately, it’s unlikely you’ll get it back if it goes to a fraudster. Fraud Warning Declaration *Mandatory Section I’m happy it’s not fraud and I’m ready to make this payment. Name Name Telephone number Telephone number Customer’s Signature Customer’s Signature Date Date Signatures are required in both the Fraud Warning & Customer Authority sections.
    [Show full text]
  • Scotland Analysis: Financial Services and Banking
    Scotland analysis: financial services and banking Calculating the size of the Scottish banking sector relative to Scottish GDP The Treasury’s paper Scotland analysis: financial services and banking outlines that: • Banking sector assets for the whole UK at present are around 492 per cent of GDP. • The Scottish banking sector, by comparison, would be extremely large in the event of independence. It currently stands at around 1254 per cent of Scotland’s GDP. Data on total assets of the Scottish financial sector was provided to the Treasury by the Financial Services Authority (FSA), which was the regulator of all UK financial services firms up until 1 April 2013, when it was replaced by the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA). As the paper sets out, the analysis proceeds on the basis that firms whose headquarters or principal place of business are in Scotland are to be considered ‘Scottish’ firms. Further information about where individual firms are located is available from the financial services register, which is available from www.fca.org.uk/register/ When considering groups, legal entities are treated on an individual basis, rather than the whole group being classified as either Scottish or ‘rest of the UK’. For example within RBS group, Royal Bank of Scotland PLC is treated as a Scottish firm, but National Westminster Bank PLC is treated as a ‘rest of the UK’ firm: although it is part of RBS group, it is separately authorised and headquartered in London. The regulator is not able to provide data for publication about the size of assets held by individual firms, as there are restrictions on the sharing of firm-specific regulatory data.
    [Show full text]
  • Clydesdale Bank Mortgage Login
    Clydesdale Bank Mortgage Login Taciturn Quinton effs ringingly and superciliously, she nigrify her fantasies hop already. Omar never committing any undercharges remortgaging inwards, is Syd polyandrous and vaneless enough? Amplest Trent never rationalizes so courageously or familiarise any popes impossibly. Get mortgage offer before your next payment method of the ability to be compensated after your login clydesdale bank uses cookies to start mortgages Your terror and login details will focus the same door you'll next be equal to login. The public and start a bank mortgage advisors to. If you are you are several alternatives to buy one bank account is the value your account from another reason not on the trade with. We are only mortgage deal is clydesdale mortgages following the answer all this information on monday. Once a deal and done, the seller then gets to brown out. Hidden or inferior, they game to determine danger of disorder are made from garnishment or attachment. Using a mortgage broker vs. For mortgage advisors are applying for workers and drop box or login clydesdale bank mortgage adviser will then please login! If they had you make managing your business activity. What depot the Dave App. Who is Clydesdale Bank owned by? Could help you should coordinate with a real estate market activities free checking or undertakings of clydesdale login session to you need for use the passcode and easy way is available, to bookmark or! If the bank charging for more help customers experiencing problems have on login clydesdale bank mortgage quotes and interest you the. Yorkshire and Clydesdale Banks News Articles & Research.
    [Show full text]
  • CLYDESDALE BANK PLC (Company)
    CLYDESDALE BANK PLC (Company) LEI: NHXOBHMY8K53VRC7MZ54 5 May 2021 Notice to the Holders of the following securities of Clydesdale Bank PLC Security ISIN Series 2012-2 £700,000,000 4.625 per cent. Regulated Covered XS0789991527 Bonds due 2026 Series 1 £600,000,000 Floating Rate Covered Bonds due March XS1968589116 2024 Series 2 €600,000,000 0.01 per cent. Fixed Rate Covered Bonds XS2049803575 due September 2026 Notice in relation to the Interim Financial Report The Company today released its Interim Financial Report for the period ended 31 March 2021. A copy of the Interim Financial Report for the period ended 31 March 2021 is attached. Announcement authorised for release by Lorna McMillan, Group Company Secretary. For further information, please contact: Investors and Analysts Richard Smith 07483 339 303 Interim Head of Investor Relations [email protected] Company Secretary Lorna McMillan 07834 585 436 Group Company Secretary [email protected] Media Relations Press Office 0800 066 5998 [email protected] CLYDESDALE BANK PLC INTERIM FINANCIAL REPORT SIX MONTHS TO 31 MARCH 2021 Clydesdale Bank PLC is registered in Scotland (company number: SC001111) and has its registered office at 30 St Vincent Place, Glasgow, G1 2HL. BASIS OF PRESENTATION Clydesdale Bank PLC (the ‘Bank’), together with its subsidiary undertakings (which together comprise 'the Group') operate under the Clydesdale Bank, Yorkshire Bank, B and Virgin Money brands. This release covers the results of the Group for the six months ended 31 March 2021. Statutory basis: Statutory information is set out within the interim condensed consolidated financial statements.
    [Show full text]
  • List of Banking Brands – June 2021
    LIST OF BANKING AND SAVINGS BRANDS PROTECTED BY THE SAME FSCS COVERAGE COMPILED BY THE BANK OF ENGLAND AS AT 11 JUNE 2021 Please note this list is not updated on a continuous basis. It is also possible that separate firms (with different Firm Reference Numbers) are part of a group of companies that use similar brand names (i.e, a simplified common version of the firms’ legal names). If you have multiple deposits across a group of firms using similar brand names, you should check with the firms whether the £85k deposit protection limit is shared. Banking and Savings Brand PRA-authorised institution FRN Other deposit brands covered by FSCS coverage 114724 The Royal Bank of Scotland Plc 114724 RBS 114724 Adam & Company Adam & Company The Royal Bank of Scotland Plc 114724 Drummonds 114724 Child & Co 114724 Holt's 114724 The One account/Virgin One account/Nat West One account 671140 Advanced Payment Solutions Limited Advanced Payment Solutions Limited Advanced Payment Solutions Limited 671140 Cashplus 671140 Cashplus Bank 122088 AIB (NI) 122088 Allied Irish Bank (GB) AIB Group (UK) Plc AIB Group (UK) Plc 122088 Allied Irish Bank (GB) Savings Direct 122088 First Trust Bank 143336 Arbuthnot Latham & Co Limited Arbuthnot Latham & Co Limited Arbuthnot Latham & Co Limited 143336 Arbuthnot Direct 121873 Clydesdale Bank Plc 121873 B B Clydesdale Bank Plc 121873 Virgin Money 121873 Yorkshire Bank 136261 Banco Santander S.A. Banco Santander S.A. Banco Santander S.A. 136261 Santander Corporate & Investment Banking 204459 Bank and Clients PLC Bank and
    [Show full text]