NatWest

{{Further|National Provincial Bank|Westminster Bank|District Bank}}

File:NatWestLB.JPG, Bedfordshire, an example of Neo-Renaissance architecture]]

The bank's origins date back to 1658 with the foundation of Smith's Bank of Nottingham.[https://www.natwestgroup.com/heritage/companies/smith-and-co-nottingham.html Samuel Smith & Co (Nottingham)] {{Webarchive|url=https://web.archive.org/web/20200809170609/https://www.natwestgroup.com/heritage/companies/smith-and-co-nottingham.html |date=9 August 2020 }} NatWest Group, Heritage Hub (retrieved 19 August 2020) Its oldest direct corporate ancestor, National Provincial Bank, was formed in 1833 as the National Provincial Bank of England. It merged with Union of London and Smith's Bank in 1918 to become National Provincial and Union Bank, shortening its name in 1924.[https://www.natwestgroup.com/heritage/companies/national-provincial-bank-ltd.html National Provincial Bank] {{Webarchive|url=https://web.archive.org/web/20200806063601/https://www.natwestgroup.com/heritage/companies/national-provincial-bank-ltd.html |date=6 August 2020 }} NatWest Group, Heritage Hub (retrieved 19 August 2020) District Bank (formed in 1829 as the Manchester and Liverpool District Banking Company) was acquired by National Provincial in 1962 and allowed to operate under its own name.[https://www.natwestgroup.com/heritage/companies/district-bank-ltd.html District Bank] {{Webarchive|url=https://web.archive.org/web/20200813141003/https://www.natwestgroup.com/heritage/companies/district-bank-ltd.html |date=13 August 2020 }} NatWest Group, Heritage Hub (retrieved 19 August 2020) Westminster Bank was formed in 1834 as London and Westminster Bank. It merged with London and County Bank in 1909 to become London County and Westminster Bank and with Parr's Bank in 1918 to become London County Westminster and Parrs Bank, shortening its name in 1923.[https://www.natwestgroup.com/heritage/companies/westminster-bank-ltd.html Westminster Bank] {{Webarchive|url=https://web.archive.org/web/20200809165228/https://www.natwestgroup.com/heritage/companies/westminster-bank-ltd.html |date=9 August 2020 }} NatWest Group, Heritage Hub (retrieved 19 August 2020)

The creation of the modern bank was announced in 1968 and commenced trading on 1 January 1970 after the statutory process of integration had been completed in 1969.National Westminster Bank Act 1969 and National Westminster Bank Act 1969 (Appointed Day) Order 1969; registered in England and Wales under the Companies Act 1985, No. 929027 The three arrowheads device was adopted as the new bank's logo; it is said to symbolise either the circulation of money in the financial system or the bank's three constituents.{{cite news |last=Steven |first=Rachael |title=Old meets new in NatWest rebrand |url=https://www.creativereview.co.uk/old-meets-new-natwest-rebrand/ |work=Creative Review |date=4 October 2016 |access-date=7 October 2016 |archive-date=5 October 2016 |archive-url=https://web.archive.org/web/20161005192749/https://www.creativereview.co.uk/old-meets-new-natwest-rebrand/ |url-status=live }} The District, National Provincial and Westminster banks were fully integrated in the new firm's structure, but private bankers Coutts & Co (a 1920 National Provincial acquisition, established 1692), Ulster Bank in Northern Ireland (a 1917 Westminster acquisition, established 1836) and the Isle of Man Bank (a 1961 National Provincial acquisition, established 1865) continued as separate operations. Westminster Foreign Bank (established 1913) was restyled International Westminster Bank in 1973. Duncan Stirling, outgoing chairman of Westminster Bank, became first chairman of the fifth-largest bank in the world.Mosley, Charles (ed.) Burke's Peerage, Baronetage and Knightage (107th ed.) vol.1 (p.1233) Burke's Peerage and Gentry, Wilmington, 2003 In 1969 David Robarts, former chairman of National Provincial, assumed Stirling's position.Hast, Adele (ed.) [http://www.fundinguniverse.com/company-histories/NATIONAL-WESTMINSTER-BANK-PLC-Company-History.html Company History: National Westminster Bank] {{Webarchive|url=https://web.archive.org/web/20071201223703/http://www.fundinguniverse.com/company-histories/NATIONAL-WESTMINSTER-BANK-PLC-Company-History.html |date=1 December 2007 }} International Directory of Company Histories (vol.2) St. James Press, Chicago, 1988 In 1975 it was one of the first London banks to open a representative office in Scotland. It was a founder member of the Joint Credit Card Company (with Lloyds Bank, Midland Bank and Williams & Glyn's Bank) which launched the Access credit card (now part of Mastercard) in 1972 and in 1976 it introduced the Servicetill cash machine. The same banks, excluding Lloyds, were later responsible for the introduction of the Switch debit card (later branded Maestro) in 1988.[http://www.apacs.org.uk/payment_options/documents/Plastic%20Cards%20_%20History%20of%20Plastic%20Cards%20in%20the%20UK%20v1.pdf History of Plastic Cards] The Association for Payment Clearing Services, 9 January 2006 {{webarchive |url=https://web.archive.org/web/20071008191503/http://www.apacs.org.uk/payment_options/documents/Plastic%20Cards%20_%20History%20of%20Plastic%20Cards%20in%20the%20UK%20v1.pdf |date=8 October 2007}}

File:NatWest Castle Street.jpg, a Grade II* listed building]]

Deregulation in the 1980s, culminating in the Big Bang in 1986, also encouraged the bank to enter the securities business. County Bank, its merchant banking subsidiary formed in 1965, acquired various stockbroking and jobbing firms to create the investment banking arm County NatWest. National Westminster Home Loans was established in 1980 and other initiatives included the launch of the Piggy Account for children in 1983, the Credit Zone, a flexible overdraft facility on which customers only pay interest (now commonplace, this so-called pink debt was innovative when launched) and the development of the Mondex electronic purse (later sold to MasterCard Worldwide) in 1990.Srivastava, Lara and Mansell, Robin [http://www.sussex.ac.uk/Units/spru/publications/imprint/sewps/sewp23/sewp23.pdf Electronic Cash and the Innovation Process: A User Paradigm] {{Webarchive|url=https://web.archive.org/web/20080228231524/http://www.sussex.ac.uk/Units/spru/publications/imprint/sewps/sewp23/sewp23.pdf |date=28 February 2008 }} Electronic Working Papers Series, no.23 (p.5) University of Sussex, Science Policy Research Unit, March 1998 The Action Bank advertising campaign spearheaded a new marketing-led approach to business development. Under the direction of Robin Leigh-Pemberton, who became chairman in 1977, the bank also expanded internationally, forming National Westminster Bancorp in the United States of America with a network of 340 branches across two states, National Westminster Bank of Canada and NatWest Australia Bank; and opening branches on the European continent and in the Far East.[https://www.natwestgroup.com/heritage/companies/national-westminster-bank-plc.html National Westminster Bank] {{Webarchive|url=https://web.archive.org/web/20200811094016/https://www.natwestgroup.com/heritage/companies/national-westminster-bank-plc.html |date=11 August 2020 }} NatWest Group, Heritage Hub (retrieved 19 August 2020) In 1982, the Frankfurt office of International Westminster Bank merged with Global Bank AG to form Deutsche Westminster Bank. In 1985, Banco NatWest España was formed and National Westminster Bank SA was incorporated in 1988, taking over the bank's six branches in France and Monaco. In 1989, International Westminster Bank was merged into National Westminster Bank by Act of Parliament.[https://www.natwestgroup.com/heritage/companies/international-westminster-bank-ltd.html International Westminster Bank] {{Webarchive|url=https://web.archive.org/web/20200815043953/https://www.natwestgroup.com/heritage/companies/international-westminster-bank-ltd.html |date=15 August 2020 }} NatWest Group, Heritage Hub (retrieved 19 August 2020)

File:Tower 42 looking north from Bishopsgate_2011-05-04.jpg), seen from the junction of Bishopsgate with Leadenhall Street in the City of London]]

Completed in 1980, the bank built the National Westminster Tower (now known as Tower 42) in London to serve as its international headquarters. At a height of 600 feet (183 m) it was the tallest building in the UK until the topping-out of Canary Wharf Tower 10 years later;{{cite news|url=http://news.bbc.co.uk/1/hi/business/the_company_file/134783.stm |title=Famous tower sold for top price |work=BBC News |date=17 July 1998}} its footprint loosely approximating the bank's logo when viewed from the air,Goodway, Nick [https://www.standard.co.uk/business/markets/outdated-and-second-best-its-time-for-the-fall-of-tower-42-6459424.html Outdated and second best, its time for the fall of Tower 42] {{Webarchive|url=https://web.archive.org/web/20180212005159/https://www.standard.co.uk/business/markets/outdated-and-second-best-its-time-for-the-fall-of-tower-42-6459424.html |date=12 February 2018 }}, Evening Standard, 15 April 2010 although the architect claimed the similarity was coincidence.{{cite web |url=http://www.uwe.port.ac.uk/commercial_new/structures/section15.htm |title=An Introduction to Building Structures |website=University of the West of England |archive-url=https://web.archive.org/web/20140222161407/http://www.uwe.port.ac.uk/commercial_new/structures/section15.htm |archive-date=22 February 2014 |access-date=3 February 2014}} Also worthy of note is National Westminster House (since renamed as 103 Colmore Row) in Birmingham: the building was sold to British Land in 2007{{cite news|last=Pain |first=Steve |date=17 January 2007 |title=British Land snaps up NatWest building |url=http://icbirmingham.icnetwork.co.uk/birminghampost/business/tm_headline=british-land-snaps-up-natwest-building%26method=full%26objectid=18489734%26siteid=50002-name_page.html |newspaper=The Birmingham Post |archive-url=https://web.archive.org/web/20080219171035/http://icbirmingham.icnetwork.co.uk/birminghampost/business/tm_headline%3Dbritish-land-snaps-up-natwest-building%26method%3Dfull%26objectid%3D18489734%26siteid%3D50002-name_page.html |archive-date=19 February 2008 |url-status=dead}} and demolished in 2015.

The bank was hit by the stock market crash of 1987 and involvement in the collapse of Blue Arrow.{{cite news|url=http://news.bbc.co.uk/2/hi/business/619438.stm|work=BBC News |title=BUSINESS {{!}} NatWest: A history|access-date=5 February 2020|archive-date=23 September 2019|archive-url=https://web.archive.org/web/20190923085646/http://news.bbc.co.uk/2/hi/business/619438.stm|url-status=live}} The Department of Trade and Industry report on the affair was critical of the bank's management and resulted in the resignation of several members of the board, including then-chairman Lord Boardman.Stanley, Christopher [https://books.google.com/books?id=wojJC3wjUQ4C Cultural Contradictions in the Legitimation of Market Practice: Paradox in the Regulation of the City] {{Webarchive|url=https://web.archive.org/web/20230425183724/https://books.google.com/books?id=wojJC3wjUQ4C |date=25 April 2023 }} in Budd, Leslie and Whimster, Sam (eds.) Global Finance and Urban Living: A Study of Metropolitan Change (pp.158–160) Routledge, London, 1992 Later, the bank would divest its overseas subsidiaries. The North American operations were sold to Fleet Bank and Hong Kong Bank of Canada, and the Australian and New Zealand branches were sold to Salomon Smith Barney and the National Australia Bank.{{cite web|url=http://www.thefreelibrary.com/NatWest+in+pounds+52m+sell-off.-a060790520|title=NatWest in pounds 52m sell-off|publisher=Birmingham Post & Mail Ltd|date=10 February 1998|access-date=4 October 2014|archive-date=6 October 2014|archive-url=https://web.archive.org/web/20141006093832/http://www.thefreelibrary.com/NatWest+in+pounds+52m+sell-off.-a060790520|url-status=live}} Thereafter the bank concentrated on its core domestic business as the restyled NatWest Group, reflecting its modern positioning as a portfolio of businesses.[http://www.bbc.co.uk/worldservice/business/story_ban250200.shtml National Westminster Bank loses fight for independence] {{Webarchive|url=https://web.archive.org/web/20050307181258/http://www.bbc.co.uk/worldservice/business/story_ban250200.shtml |date=7 March 2005 }} BBC World Service, broadcast 25 February 2000 In the 1993 Bishopsgate bombing, the NatWest Tower was devastated by a Provisional IRA bomb and the bank vacated the building and later sold it.De Baróid, Ciarán Ballymurphy and the Irish War (p.325) Pluto Press, London, 2000 Then, in 1997, NatWest Markets, the corporate and investment banking arm formed in 1992, revealed that a £50 million ($67.75 million) loss had been discovered, revised to £90.5  million ($122.62 million) after further investigations. Investor and shareholder confidence was so badly shaken that the Bank of England had to instruct the board of directors to resist calls for the resignation of its most senior executives in an effort to draw a line under the affair.{{cite web |url=http://www.erisk.com/Learning/CaseStudies/NatWestCaseStudy.pdf |title=Case Study: NatWest Markets |last=Wolfe |first=Eric |date=October 2001 |website=BancWare ERisk |archive-url=https://web.archive.org/web/20081030193739/http://www.erisk.com/Learning/CaseStudies/NatWestCaseStudy.pdf |archive-date=30 October 2008}} The bank's internal controls and risk management were severely criticised in 2000 and its aggressive push into investment banking questioned, after a lengthy investigation by the Securities and Futures Authority.[http://www.fsa.gov.uk/pubs/additional/sfa008-00.pdf SFA Disciplines NatWest and Two Individuals] {{Webarchive|url=https://web.archive.org/web/20080228231525/http://www.fsa.gov.uk/pubs/additional/sfa008-00.pdf |date=28 February 2008 }} Financial Services Authority, 18 May 2000 The bank's move into complicated derivative products that it did not fully understand seemed to indicate poor management. By the end of 1997 parts of NatWest Markets had been sold, others becoming Greenwich NatWest in 1998.[http://www.prnewswire.co.uk/cgi/news/release?id=23686 Natwest Group Announces £1,011m Profit for 1997] {{Webarchive|url=https://web.archive.org/web/20110608081023/http://www.prnewswire.co.uk/cgi/news/release?id=23686 |date=8 June 2011 }} PR Newswire Europe, 1998 It had purchased Gleason Partners in 1996 for $135 million only to resell it back to GP's founder for just $4 million 3 years later in 1999, a whopping $131 million loss.

File:Oldtownhall 766.JPG, London, built by Charles Jones in 1872, now a NatWest branch[http://www.ealingcivicsociety.org/downloads/Listed%20buildings.pdf Statutory and locally listed buildings in the London Borough of Ealing] {{Webarchive|url=https://web.archive.org/web/20160304032742/http://www.ealingcivicsociety.org/downloads/Listed%20buildings.pdf |date=4 March 2016 }} Ealing Civic Society. Retrieved 5 January 2015]]

In 1999, the chairman, Lord Alexander of Weedon, announced a merger with Legal & General in a friendly £10.7 billion deal, the first between a bank and an insurance company in UK history.Buckingham, Lisa et al. [https://www.theguardian.com/business/1999/sep/03/20 NatWest pounces on L&G with £11bn takeover bid] {{Webarchive|url=https://web.archive.org/web/20170510202959/https://www.theguardian.com/business/1999/sep/03/20 |date=10 May 2017 }} The Guardian, 3 September 1999 The move was poorly received in the London financial markets and NatWest's share price fell substantially.Treanor, Jill and Buckingham, Lisa [https://www.theguardian.com/business/1999/sep/07/7 NatWest forced to defend merger] {{Webarchive|url=https://web.archive.org/web/20170510203140/https://www.theguardian.com/business/1999/sep/07/7 |date=10 May 2017 }} The Guardian, 7 September 1999 Seen as a driver of the ill-advised investment banking expansion, Derek Wanless was forced to resign as chief executive following the appointment of Sir David Rowland (who became executive chairman).{{cite news|url=http://news.bbc.co.uk/1/hi/business/1679718.stm |title=Profile: Derek Wanless |archiveurl=https://web.archive.org/web/20040628190124/http://news.bbc.co.uk/1/hi/business/1679718.stm |archivedate=28 June 2004 |work=BBC News |date=25 February 2004 |accessdate= 24 January 2014}} Also in 1999, in response to the much reduced NatWest market capitalisation, the much smaller Bank of Scotland made a hostile takeover bid for NatWest. The Bank of Scotland's aim was to break up the NatWest Group and dispose of its non-retail assets. NatWest was forced to abandon its merger, but refused to agree to a takeover by a rival bank.[https://www.theguardian.com/business/1999/sep/24/4 NatWest rejects takeover bid] {{Webarchive|url=https://web.archive.org/web/20170510202505/https://www.theguardian.com/business/1999/sep/24/4 |date=10 May 2017 }} The Guardian, 24 September 1999 The Royal Bank of Scotland tabled another hostile offer, of £21 billion, outbidding the Bank of Scotland.Farrelly, Paul [https://www.theguardian.com/business/1999/nov/28/observerbusiness.royalbankofscotlandgroup RBS issues ultimatum in £27bn bid for NatWest] {{Webarchive|url=https://web.archive.org/web/20170926041321/https://www.theguardian.com/business/1999/nov/28/observerbusiness.royalbankofscotlandgroup |date=26 September 2017 }}, The Observer, 28 November 1999 The takeover of NatWest in early 2000 was the biggest in UK history. Once Britain's most profitable bank, it was delisted from the London Stock Exchange and became, with its subsidiaries, component parts of the Royal Bank of Scotland Group.Treanor, Jill [https://www.theguardian.com/money/2000/feb/12/business.personalfinancenews NatWest runs up white flag] {{Webarchive|url=https://web.archive.org/web/20160927190810/https://www.theguardian.com/money/2000/feb/12/business.personalfinancenews |date=27 September 2016 }}, The Guardian, 12 February 2000 The outcome of this bitter struggle set the tone for a round of consolidation in the financial sector as it prepared for a new age of fierce global competition.{{cite news|url=http://news.bbc.co.uk/1/hi/business/621211.stm |title=NatWest takeover battle |archiveurl=https://web.archive.org/web/20070213035152/http://news.bbc.co.uk/1/hi/business/621211.stm |archivedate=13 February 2007 |work=BBC News |date=11 February 2000 |accessdate= 24 January 2014}} The Royal Bank of Scotland Group became the second-largest bank in the UK and Europe (after HSBC) and the fifth-largest in the world by market capitalisation. According to Forbes Global 2000, it was then the 13th-largest company in the world.DeCarlo, Scott (ed.) [https://www.forbes.com/2007/03/29/forbes-global-2000-biz-07forbes2000-cz_sd_0329global_land.html The World's 2,000 Largest Public Companies] {{Webarchive|url=https://web.archive.org/web/20170813085815/https://www.forbes.com/2007/03/29/forbes-global-2000-biz-07forbes2000-cz_sd_0329global_land.html |date=13 August 2017 }}, Forbes, Special Report, 29 March 2007 NatWest was retained as a distinct brand with its own banking licence, but many back office functions were merged with those of the Royal Bank, leading to over 18,000 job losses.

{{further|Williams & Glyn}}

In 2008, it was announced that HM Government would take a stake of up to 58% in the Royal Bank of Scotland in a move aimed at recapitalising the group. HM Treasury subscribed for £5 billion in preference shares and underwrote the issuance of £15bn of new ordinary shares offered to RBS shareholders and new institutional shareholders at the fixed price of 65.5p.{{cite news |title=UK banks' £37bn bail-out unveiled |url=http://news.bbc.co.uk/1/hi/business/7666570.stm |work=BBC News |date=13 October 2008 |access-date=26 September 2013 |archive-date=14 October 2008 |archive-url=https://web.archive.org/web/20081014050751/http://news.bbc.co.uk/1/hi/business/7666570.stm |url-status=live }} As a consequence of the mismanagement that necessitated this rescue, the chief executive, Fred Goodwin (who secured the takeover of NatWest), offered his resignation, which was duly accepted. Chairman Tom McKillop also confirmed he would stand down from that role when his contract expired in 2009. Goodwin was replaced by Stephen Hester, previously chief executive of British Land.

In 2009, the RBS Group announced that it would divest all 311 RBS branches in England and Wales (known as Williams & Glyn's until 1985) together with the seven NatWest branches in Scotland as a standalone business, to comply with European Commission state aid requirements.{{cite news|title=RBS shares drop on surprise EU divestment demands|url=https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/6484626/RBS-shares-drop-on-surprise-EU-divestment-demands.html |archive-url=https://ghostarchive.org/archive/20220112/https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/6484626/RBS-shares-drop-on-surprise-EU-divestment-demands.html |archive-date=12 January 2022 |url-access=subscription |url-status=live|access-date=2 November 2015|work=The Telegraph|date=2 November 2009}}{{cbignore}}Dey, Iain [http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article6832279.ece RBS to relaunch historic Williams & Glyn's brand after 24 year absence] {{Webarchive|url=https://web.archive.org/web/20090912225726/http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article6832279.ece |date=12 September 2009 }}, The Sunday Times, 13 September 2009 In August 2010, it was announced that the branches would be sold to Santander UK, along with the accounts of 1.8 million personal customers and 244,000 SME customers.{{cite news |title=RBS sells 318 branches to Santander |url=https://www.bbc.co.uk/news/business-10862690 |work=BBC News |date=4 August 2010 |access-date=26 September 2013 |archive-date=24 February 2014 |archive-url=https://web.archive.org/web/20140224073818/http://www.bbc.co.uk/news/business-10862690 |url-status=live }} Santander withdrew from the sale in October 2012.{{cite news |title=RBS sale of 316 branches to Santander collapses |url=https://www.bbc.co.uk/news/world-19929376 |work=BBC News |date=12 October 2012 |access-date=26 September 2013 |archive-date=26 September 2013 |archive-url=https://web.archive.org/web/20130926204931/http://www.bbc.co.uk/news/world-19929376 |url-status=live }} On 27 September 2013, the RBS Group confirmed it had agreed to sell 308 RBS branches in England and Wales and 6 NatWest branches in Scotland to the Corsair consortium. This figure was reduced to 307 by May 2015.{{cite news |last=Dunkley |first=Emma |date=28 May 2015 |title=RBS may need to beef up Williams & Glyn business |url=http://www.ft.com/cms/s/0/d06a33e4-052f-11e5-8612-00144feabdc0.html |work=Financial Times |access-date=2 November 2015 |url-access=subscription |archive-date=3 July 2015 |archive-url=https://web.archive.org/web/20150703144049/http://www.ft.com/cms/s/0/d06a33e4-052f-11e5-8612-00144feabdc0.html |url-status=live }} The branches were to have been separated from the group in 2016 as a standalone business operating under the previously dormant Williams & Glyn brand.{{cite news|last1=MacLellan|first1=Kylie|last2=Slater|first2=Steve|title=RBS appoints BoAML to ready 2016 listing of Williams & Glyn|url=http://uk.reuters.com/article/uk-rbs-ipo-idUKKCN0RD0BX20150913|access-date=2 November 2015|publisher=Reuters|date=13 September 2015|archive-date=24 January 2016|archive-url=https://web.archive.org/web/20160124093957/http://uk.reuters.com/article/uk-rbs-ipo-idUKKCN0RD0BX20150913|url-status=dead}}

In August 2016, RBS cancelled its plan to spin off Williams & Glyn as a separate business, stating that the new bank could not survive independently. It revealed it would instead seek to sell the division to another bank.{{cite news |title=RBS cancels Williams & Glyn project and loses another £2bn |url=https://www.telegraph.co.uk/business/2016/08/05/rbs-cancels-williams--glyn-project-and-loses-another-2bn/ |access-date=5 August 2016 |work=The Telegraph |date=5 August 2016 |archive-date=6 August 2016 |archive-url=https://web.archive.org/web/20160806151813/http://www.telegraph.co.uk/business/2016/08/05/rbs-cancels-williams--glyn-project-and-loses-another-2bn/ |url-status=live }} In February 2017, HM Treasury and the European Commission reached a provisional agreement in which RBS would be able to retain the Williams & Glyn assets in return for investing £750 million into a fund aimed at increasing SME lending by challenger banks and for RBS agreeing to allow SME customers of challenger banks to use its branch network for cash and cheque handling.{{cite news|url=https://www.telegraph.co.uk/business/2017/02/17/royal-bank-scotland-calls-halt-troublesome-williams-glyn-disposal/ |archive-url=https://ghostarchive.org/archive/20220112/https://www.telegraph.co.uk/business/2017/02/17/royal-bank-scotland-calls-halt-troublesome-williams-glyn-disposal/ |archive-date=12 January 2022 |url-access=subscription |url-status=live|title=Royal Bank of Scotland calls halt to troublesome Williams & Glyn sale after Treasury strikes deal with Brussels|first=James |last=Quinn |date=17 February 2017|newspaper=The Telegraph|access-date=18 February 2017}}{{cbignore}} The European Commission confirmed in April 2017 that it would scrutinise the proposal.{{cite news|last1=Fraser|first1=Douglas|title=RBS plan faces European Commission investigation|url=https://www.bbc.co.uk/news/uk-scotland-scotland-business-39493883|access-date=5 April 2017|work=BBC News|date=4 April 2017|archive-date=4 April 2017|archive-url=https://web.archive.org/web/20170404224158/http://www.bbc.co.uk/news/uk-scotland-scotland-business-39493883|url-status=live}}

On 3 May 2021, the business of Ulster Bank Limited in Northern Ireland was transferred to National Westminster Bank as part of a court-approved Banking Business Transfer Scheme.{{cite web|url=https://digital.ulsterbank.co.uk/globals/banking-business-transfer-scheme.html|title=Banking Business Transfer Scheme|access-date=3 May 2021|archive-date=3 May 2021|archive-url=https://web.archive.org/web/20210503114219/https://digital.ulsterbank.co.uk/globals/banking-business-transfer-scheme.html|url-status=live}}

In June 2024, NatWest announced it had agreed a deal to acquire the majority of Sainsbury's Bank.{{cite web |title=Sainsbury's sells banking arm to NatWest |url=https://news.sky.com/story/sainsburys-sells-banking-arm-to-natwest-13155858 |access-date=20 June 2024 |website=Sky News }}{{cite news |last1=Croft |first1=Jane |last2=Makortoff |first2=Kalyeena |date=20 June 2024 |title=NatWest to take on most of Sainsbury's Bank |url=https://www.theguardian.com/business/article/2024/jun/20/natwest-buy-sainsburys-bank-deal |access-date=20 June 2024 |work=The Guardian |issn=0261-3077}} The deal will see the company acquire one million customers, £2.5 billion of customer assets and £2.6 billion of customer deposits. NatWest will receive £125 million from the deal upon completion in the first half of 2025. In 2024, NatWest also entered into an agreement with Metro Bank plc ("Metro Bank") to acquire a £2.5 billion portfolio of prime UK residential mortgages, with a weighted average current loan to value of c.62%.{{cite web |title=NatWest acquires Metro Bank mortgage portfolio. |url=https://www.natwestgroup.com/news-and-insights/latest-stories/our-updates/2024/jul/natwest-acquires-metro-bank-mortgage-portfolio.html |access-date=17 September 2024 |website=www.natwestgroup.com }}

In November 2024, the bank bought back £1 billion of its own shares from the UK Treasury, reducing the British government’s stake to 11.4 per cent from 14.81 per cent. It acquired 263 million shares at 380.8p each.

In March 2025, Natwest announced that it has entered a partnership with OpenAI to focus on “bank-wide simplification”. Throughout the rollout, the bank said it would use its Artificial Intelligence & Data Ethics Code of Conduct to ensure the new projects were used to “educate, protect, and empower its customers and colleagues”.{{Cite web |last=Norman |first=Samuel |date=2025-03-20 |title=Natwest partners with OpenAI as FTSE giant scales up tech |url=https://www.cityam.com/natwest-partners-with-openai-as-ftse-giant-scales-up-tech/ |access-date=2025-03-20 |website=City AM |language=en-GB}} The bank will have access to OpenAI’s products, early access to newer developments and specialized consultancy. The bank is planning an upgrade for their chatbot, Cora and staff assistant AskArchie with the help of OpenAI for fraud reporting and financial guidance for their clients. AI has thus far boosted customer satisfaction by 150% and reduced reliance on human advisers. With now 80% of retail customers banking digitally, NatWest sees AI innovation as the focus of their strategy.{{Cite news |date=March 20, 2025 |title=NatWest seals milestone UK banking collaboration with OpenAI |url=https://www.reuters.com/technology/natwest-seals-milestone-uk-banking-collaboration-with-openai-2025-03-20/}}

File:The Old Court House Ruthin Wales.jpg, Denbighshire, built in 1401, a NatWest branch until 2017Kightly, Charles [http://medieval-wales.com/pdf/Medieval_Denbighshire.pdf Enjoy Medieval Denbighshire] {{Webarchive|url=https://web.archive.org/web/20100415041705/http://medieval-wales.com/pdf/Medieval_Denbighshire.pdf |date=15 April 2010 }} (p.10) Denbighshire County Council, September 2007]]

NatWest Group operates internationally through its four principal subsidiaries: NatWest Holdings which owns The Royal Bank of Scotland, National Westminster Bank and Ulster Bank Ireland DAC; NatWest Markets; NatWest Markets N.V.; and The Royal Bank of Scotland International. The NatWest sub-group of companies comprises National Westminster Bank and its subsidiary and associated undertakings.{{cite web|url=http://www.investors.rbs.com/downloads/NatWest2006Report&Account.pdf |title=Annual Report and Accounts 2006 |date=28 March 2007 |website=National Westminster Bank |at=p. 32 sec. 'Notes on the accounts, (14) Investments in Group undertakings |archive-url=https://web.archive.org/web/20090320103933/http://www.investors.rbs.com/downloads/NatWest2006Report%26Account.pdf |archive-date=20 March 2009 |url-status=dead }} {{As of|2023|}}, the principal subsidiary undertakings of NatWest are:

• Coutts & Co.
• RBS Invoice Finance
• Lombard North Central[https://investors.natwestgroup.com/fixed-income-investors/company-legal-structure Company legal structure] {{Webarchive|url=https://web.archive.org/web/20230324224117/https://investors.natwestgroup.com/fixed-income-investors/company-legal-structure |date=24 March 2023 }} NatWest Group, April 2023

Structurally, National Westminster Bank was a wholly owned subsidiary of The Royal Bank of Scotland Group until 2003, when ownership of the bank's entire issued ordinary share capital was transferred to The Royal Bank of Scotland as holding company, with RBS Group functioning as ultimate holding company. At the same time the entire issued share capital of Lombard North Central was transferred by the bank to the holding company,{{cite web |url=http://www.investors.rbs.com/downloads/NatWest_2002_Report_and_Account.pdf |title=Annual Report and Accounts 2002 |website=National Westminster Bank |at=p. 2 sec. Report of the directors, Activities and business review |date=27 February 2003 |archive-url=https://web.archive.org/web/20061022023241/http://www.investors.rbs.com/downloads/NatWest_2002_Report_and_Account.pdf |archive-date=22 October 2006}} transferring back to NatWest in 2017. Ownership of National Westminster Home Loans was passed to the holding company in 2005;[http://www.investors.rbs.com/downloads/NatWest2005_ReportAccount.pdf Annual Report and Accounts 2005] Report of the directors, Activities and business review (p.2) National Westminster Bank, 29 March 2006 {{webarchive |url=https://web.archive.org/web/20061208153254/http://www.investors.rbs.com/downloads/NatWest2005_ReportAccount.pdf |date=8 December 2006 }} however, the mortgage portfolio and related funding were also transferred back to NatWest in 2012.[http://investors.rbs.com/~/media/Files/R/RBS-IR/annual-reports/natwest-annual-report-2012.pdf Annual Report and Accounts 2012] {{Webarchive|url=https://web.archive.org/web/20160323193933/http://investors.rbs.com/~/media/Files/R/RBS-IR/annual-reports/natwest-annual-report-2012.pdf |date=23 March 2016 }} Financial review, Business developments (p.5) National Westminster Bank, 27 March 2013 In 2000, the bank transferred National Westminster Life Assurance to RBS Life Investments, effectively establishing the business as a joint venture between the Group and Norwich Union.{{cite web |url=http://www.investors.rbs.com/downloads/NatWest2000ReportAccount.pdf |title=Annual Report and Accounts 2000 |website=National Westminster Bank |at=p. 17 sec. Report of the directors, Activities and business review |date=28 February 2001 |archive-url=https://web.archive.org/web/20061208153041/http://www.investors.rbs.com/downloads/NatWest2000ReportAccount.pdf |archive-date=8 December 2006}} In 2018, ownership of both NatWest and the Royal Bank transferred to NatWest Holdings and NatWest became the main provider of shared services and Treasury activities for the RBS Group.[https://investors.rbs.com/~/media/Files/R/RBS-IR/results-center/14feb2020/natwest-bank-plc-annual-report.pdf Annual Report and Accounts 2019] {{Webarchive|url=https://web.archive.org/web/20211015072918/https://investors.rbs.com/~/media/Files/R/RBS-IR/results-center/14feb2020/natwest-bank-plc-annual-report.pdf |date=15 October 2021 }} Strategic report (p.1) National Westminster Bank, 14 February 2020 On 14 February 2020, it was announced that RBS Group would be renamed NatWest Group later that year, taking the brand under which the majority of its business was delivered.Makortoff, Kalyeena [https://www.theguardian.com/business/2020/feb/14/rbs-will-stop-lending-to-energy-firms-without-climate-crisis-plan RBS will change name to NatWest as Alison Rose begins overhaul] {{Webarchive|url=https://web.archive.org/web/20200214141522/https://www.theguardian.com/business/2020/feb/14/rbs-will-stop-lending-to-energy-firms-without-climate-crisis-plan |date=14 February 2020 }} The Guardian, 14 February 2020{{cite news|url=https://www.bbc.co.uk/news/business-51500062 |title=RBS Group to change its name to NatWest |archiveurl=https://web.archive.org/web/20200214180754/https://www.bbc.co.uk/news/business-51500062 |archivedate=14 February 2020 |work=BBC News |date=14 February 2020}} The change became effective on 22 July.Partridge, Joanna [https://www.theguardian.com/business/2020/jul/22/royal-bank-of-scotland-changes-name-to-natwest Royal Bank of Scotland changes name to NatWest] {{Webarchive|url=https://web.archive.org/web/20200722200203/https://www.theguardian.com/business/2020/jul/22/royal-bank-of-scotland-changes-name-to-natwest |date=22 July 2020 }} The Guardian, 22 July 2020

File:NatWest, Saint Hélyi, Jèrri.jpg, capital of Jersey, Channel Islands, built in 1873]]

The following have served as chairmen of National Westminster Bank:

The office is currently held ex officio by the chair of NatWest Group.

File:NatWest Bank, Camden Town - geograph.org.uk - 776577.jpg, London, NW1]]

NatWest provide a full range of banking and insurance services to personal, business and commercial customers, including the first dedicated bank account in Britain to be delivered and supported entirely in the Polish language. The bank has won Your Mortgage Magazine's Best Bank for Mortgages award 13 times in the last 17 years, more than any other lender.[http://editions.pagesuite.co.uk//Openpagesuite.aspx?pubid=855&pubname=Your%20Mortgage%20Awards/ Your Mortgage Magazine Awards 2006–2007] {{Webarchive|url=https://web.archive.org/web/20080306150932/http://editions.pagesuite.co.uk/Openpagesuite.aspx?pubid=855&pubname=Your%20Mortgage%20Awards/ |date=6 March 2008 }} Your Mortgage Magazine, 9 February 2007

Operating under the name Esme Loans, NatWest provides a digital lending platform for SMEs also available to customers not banking with NatWest or RBS.{{cite web|url=https://www.rbs.com/rbs/news/2017/02/new-natwest-platform-offers-quick-and-easy-loans-to-smes-.html|title=New NatWest platform offers quick and easy loans to SMEs|website=www.rbs.com|access-date=18 September 2018|archive-date=18 September 2018|archive-url=https://web.archive.org/web/20180918194059/https://www.rbs.com/rbs/news/2017/02/new-natwest-platform-offers-quick-and-easy-loans-to-smes-.html|url-status=live}} Esme Loans commenced trading on 17 February 2017, after being founded out of the bank's new product development programme NatWest Innovation Cell by Richard Kerton, Veronika Lovett, and Lucy Hasson.{{cite news|url=https://www.metro.news/advertising-feature-esme-the-founders-story/1135529/|title=Advertising feature: ESME: The founders' story|work=Metro Newspaper UK|access-date=14 November 2018|archive-date=14 November 2018|archive-url=https://web.archive.org/web/20181114224137/https://www.metro.news/advertising-feature-esme-the-founders-story/1135529/|url-status=live}}

The bank operates "mobile branches" using converted vans to serve rural areas around St Austell, Swansea, Carlisle, Devon and North Wales.[http://personal.natwest.com/personal/ways-to-bank-with-us/mobile-branch.html NatWest To Launch Mobile Banking Service] {{Webarchive|url=https://web.archive.org/web/20140920210749/http://personal.natwest.com/personal/ways-to-bank-with-us/mobile-branch.html |date=20 September 2014 }} NatWest, 27 September 2014{{cite press release|url=http://www.rbs.com/news/2014/04/high-tech-mobile-branches-bring-services-to-rbs-and-natwest-customers.html|title=High tech mobile branches bring banking services to more customers|date=24 April 2014|publisher=RBS|access-date=14 April 2016|archive-date=4 March 2016|archive-url=https://web.archive.org/web/20160304072117/http://www.rbs.com/news/2014/04/high-tech-mobile-branches-bring-services-to-rbs-and-natwest-customers.html|url-status=live}} The service allows to customers to carry out banking transactions in remote areas where there is no branch. NatWest reintroduced the mobile service in Cornwall in 2005, after HSBC ended its own version due to costs.{{citation needed|date=October 2020}}

In 2006, the then RBS Group undertook the first trial of PayPass contactless debit and credit cards in Europe.[http://www.maestrocard.com/uk/news/press_releases7.html Royal Bank of Scotland Group and Mastercard Join Forces for London Roll-out of Contactless Debit and Credit Cards] {{webarchive|url=https://web.archive.org/web/20080212004413/http://www.maestrocard.com/uk/news/press_releases7.html |date=12 February 2008 }} MasterCard Europe, Press Release 6, 4 May 2007 In 2019, a NatWest pilot project was the first in the UK to trial debit cards containing fingerprint authentication technology developed by Dutch company, Gemalto.Collinson, Patrick [https://www.theguardian.com/money/2019/mar/11/natwest-trials-fingerprint-debit-cards-to-remove-30-limit NatWest trials fingerprint debit cards to remove £30 limit] {{Webarchive|url=https://web.archive.org/web/20191204015734/https://www.theguardian.com/money/2019/mar/11/natwest-trials-fingerprint-debit-cards-to-remove-30-limit |date=4 December 2019 }} The Guardian, 11 March 2019

The bank participates fully in the Faster Payments Service, an initiative to speed up certain payments, launched in 2008.[{{cite news|url=http://news.bbc.co.uk/1/hi/programmes/moneybox/7417826.stm |title=Faster Payments – how long? |archiveurl=https://web.archive.org/web/20081222131116/http://news.bbc.co.uk/1/hi/programmes/moneybox/7417826.stm |archivedate=22 December 2008 |work=BBC News |date=24 May 2008 }} The bank established credit and debit card payment handling company Streamline in 1989, which was merged into Worldpay Group in 2009.{{cite web|url=http://www.rbsworldpay.com/media/index.php?page=archive&sub=rbs&c=WW |title=RBS Launches RBS WorldPay brand |archiveurl=https://web.archive.org/web/20090517024412/http://www.rbsworldpay.com/media/index.php?page=archive&sub=rbs&c=WW |archivedate=17 May 2009 |publisher=The Royal Bank of Scotland |date=18 April 2009}} The NatWest Mobile Banking app is available to personal account holders over the age of 11 with online banking, a debit card and UK mobile telephone number (beginning 07). The Emergency Cash service gives access to cash without a debit card from NatWest, RBS and Ulster Bank cash machines.{{cite news|last=Howard |first=Bob |url=https://www.bbc.co.uk/news/business-19857243 |title=NatWest suspends Get Cash app |archiveurl=https://web.archive.org/web/20180819212945/https://www.bbc.co.uk/news/business-19857243 |archivedate=19 August 2018 |work=BBC News|date= 6 October 2012}}

NatWest is a member of the Cheque and Credit Clearing Company, Bankers' Automated Clearing Services, the Clearing House Automated Payment System and the LINK Interchange Network. The bank is authorised by the Prudential Regulation Authority and regulated by both the Financial Conduct Authority and the Prudential Regulation Authority.{{cite web |url=http://www.natwest.com/Downloads/private/NWB3476.pdf |title=Tax Rates & Allowances 2013–2014 |date=April 2013 |publisher=National Westminster Bank |access-date=30 May 2013 |archive-date=27 September 2013 |archive-url=https://web.archive.org/web/20130927195142/http://www.natwest.com/Downloads/private/NWB3476.pdf |url-status=live }} It is a member of the Financial Ombudsman Service, the Financial Services Compensation Scheme, UK Payments Administration and of the British Bankers' Association; and it subscribes to the Lending Code. Mortgages, available in England, Scotland and Wales only, are provided by National Westminster Home Loans, a member of the Council of Mortgage Lenders,Registered in England and Wales No. 1449354. Authorised and regulated by the FSA, Register No. 313223

The NatWest One account is a secured personal account with the Royal Bank of Scotland.

NatWest Insurance Services acts as intermediary and broker for general insurance, policies are underwritten by UK Insurance Limited. Life Protector and Guaranteed Bond products are provided by National Westminster Life Assurance.Registered in England and Wales No. 2668470. Authorised and regulated by the FSA, Register No. 155329

The Royal Bank of Scotland International trades as NatWest International in Jersey, Guernsey, the Isle of Man and Gibraltar. In 2010, RBS Intermediary Partners was renamed NatWest Intermediary Solutions.{{cite news|title=RBS broker arm becomes NatWest Intermediary Solutions|url=http://www.mortgagesolutions.co.uk/news/rbs-intermediary-arm-natwest-intermediary-solutions/|access-date=2 November 2015|work=Mortgage Solutions|date=19 January 2010}}

National Westminster Bank use the following series of six digit sorting codes formatted into three pairs separated by hyphens:

International Bank Account Numbers take the form GBxx NWBK ssss ssaa aaaa aa, where x refers to two check digits, s to the branch sort code and a to the individual account number. The Bank Identifier Code, or SWIFT code, for NatWest (and Isle of Man Bank) is NWBKGB2L (8 digits) or NWBKGB2Lxxx (11 digits).

Bó, a standalone digital banking app with the aim of helping people save more money was launched in November 2019Makortoff, Kalyeena [https://www.theguardian.com/business/2019/nov/29/rbs-takes-on-monzo-with-standalone-digital-bank-bo RBS takes on Monzo with standalone digital bank Bó] {{Webarchive|url=https://web.archive.org/web/20191231022205/https://www.theguardian.com/business/2019/nov/29/rbs-takes-on-monzo-with-standalone-digital-bank-bo |date=31 December 2019 }} The Guardian, 29 November 2019 and discontinued in May 2020.{{cite web|title=Bó is closing|url=https://wearebo.co.uk/blog/windingdown|date=1 May 2020|website=Bó}}{{Dead link|date=January 2024 |bot=InternetArchiveBot |fix-attempted=yes }}

Mettle is an e-money business account provided by Prepay Solutions, a trading name of Prepay Technologies Ltd.

NatWest also entered the merchant acquiring market by introducing Tyl in 2019.{{cite web|title=RBS Gets Back Into Payments Ten Years After It Unloaded Worldpay|url=https://www.pymnts.com/news/payment-methods/2019/rbs-payments-worldpay/|date=2 May 2019|website=PYMNTS.com|access-date=31 May 2020|archive-date=15 August 2020|archive-url=https://web.archive.org/web/20200815083612/https://www.pymnts.com/news/payment-methods/2019/rbs-payments-worldpay/|url-status=live}} The proposition includes next business day settlement for card transactions.

The so-called NatWest Three—Giles Darby, David Bermingham and Gary Mulgrew—were extradited to the United States in 2006 on charges relating to a transaction with Enron Corporation in 2000 while they were working for Greenwich NatWest.{{cite news|url=http://news.bbc.co.uk/1/hi/business/5174358.stm |title=NatWest Three: the US indictment |archiveurl=https://web.archive.org/web/20070213202728/http://news.bbc.co.uk/1/hi/business/5174358.stm |archivedate=13 February 2007 |work=BBC News |date=12 July 2006 }} It has been argued that the alleged crime was committed by British citizens living in the UK against a British company based in London{{cite news|last=Randall |first=Jeff |url=http://www.telegraph.co.uk/money/main.jhtml?view=DETAILS&grid=M3&xml=%2Fmoney%2F2006%2F03%2F01%2Fccjeff01.xml |archive-url=https://web.archive.org/web/20080211214914/http://www.telegraph.co.uk/money/main.jhtml?view=DETAILS&grid=M3&xml=%2Fmoney%2F2006%2F03%2F01%2Fccjeff01.xml |url-status=dead |archive-date=11 February 2008 |title=Natwest Three caught on extradition's one-way street |work=The Daily Telegraph |date=1 March 2006}} and therefore, any resulting criminal case falls under the jurisdiction of the English courts.{{cite news|url=http://news.bbc.co.uk/1/hi/uk_politics/5155596.stm |title=Try Natwest three in UK – Tories |archiveurl=https://web.archive.org/web/20080225165211/http://news.bbc.co.uk/1/hi/uk_politics/5155596.stm |archivedate=25 February 2008 |work=BBC News |date=6 July 2006 }} However, the Serious Fraud Office decided not to prosecute due to lack of evidence.{{cite news|url=http://news.bbc.co.uk/1/hi/business/4576281.stm |title=Enron charge trio facing US trial |archiveurl=https://web.archive.org/web/20070605094909/http://news.bbc.co.uk/1/hi/business/4576281.stm |archivedate=5 June 2007 |work=BBC News |date=24 May 2005 }} There has been criticism that the Americans do not have to produce a prima facie case, or even a reasonable one, to extradite British citizens,{{cite news|last=King |first=Oliver |url=http://politics.guardian.co.uk/foreignaffairs/story/0,,1812471,00.html |title=Lib Dem leader joins bankers' extradition battle |archiveurl=https://web.archive.org/web/20071209140617/http://politics.guardian.co.uk/foreignaffairs/story/0,,1812471,00.html |archivedate=9 December 2007 |work=The Guardian |date=4 July 2006}} whereas no such facility exists to extradite US citizens to the UK.{{cite news|last=Stevenson |first=Tom |url=http://www.telegraph.co.uk/money/main.jhtml?xml=%2Fmoney%2F2006%2F07%2F06%2Fccnat06.xml |archiveurl=https://web.archive.org/web/20080211214919/http://www.telegraph.co.uk/money/main.jhtml?xml=%2Fmoney%2F2006%2F07%2F06%2Fccnat06.xml |archivedate=11 February 2008 |title=Senior executives attack 'invidious, one-sided treaty |work=The Daily Telegraph |date=6 July 2006}} On 28 November 2007 the three admitted one charge of wire fraud after a plea bargain.{{cite news|last=Clark |first=Andrew |url=https://www.theguardian.com/business/2007/nov/28/2 |title=NatWest Three plead guilty to wire fraud |archiveurl=https://web.archive.org/web/20111106211303/http://www.guardian.co.uk/business/2007/nov/28/2 |archivedate=6 November 2011 |work= The Guardian |date=28 November 2007}} On 22 February 2008 they were each sentenced to 37 months in prison.{{cite news|url=http://news.bbc.co.uk/1/hi/business/7118305.stm |title=NatWest Three face jail sentence |archiveurl=https://web.archive.org/web/20240111081927/http://news.bbc.co.uk/1/hi/business/7118305.stm |archivedate=11 January 2024 |work=BBC News |date=29 November 2007}}

Following discussions between the Office of Fair Trading, the Financial Ombudsman Service, the Financial Services Authority and the major banks, proceedings were issued on 27 July 2007 in a test case against the banks to determine the legality and enforceability of certain charges relating to unauthorised overdrafts. It is argued that these are contrary to the Unfair Terms in Consumer Contracts Regulations 1999; Schedule 2(e) of which gives a non-exhaustive list of terms which may be regarded as unfair, such as a term requiring a consumer who fails in his obligation to pay a disproportionately high sum in compensation.{{cite news|url=http://www.opsi.gov.uk/si/si1999/19992083.htm |title=The Unfair Terms in Consumer Contracts Regulations 1999 |archiveurl=https://web.archive.org/web/20080129090748/http://www.opsi.gov.uk/si/si1999/19992083.htm |archivedate=29 January 2008 }} (SI 1999/2083), implements Directive 93/13/EC (L95 OJ 29) Penalty charges are irrecoverable at common law. The precedent for this was Dunlop Pneumatic Tyre Co. Ltd. v New Garage and Motor Co. Ltd. [1915] AC 79 along with Murray v Leisure Play [2005] EWCA Civ 963, where it was held that a contractual party can only recover damages for an actual loss or liquidated losses.{{cite news|last=Collinson |first=Patrick |url=http://money.guardian.co.uk/saving/banks/story/0,,2017356,00.html |title=Have you been stung by exorbitant bank charges? |archiveurl=https://web.archive.org/web/20071223174358/http://money.guardian.co.uk/saving/banks/story/0,,2017356,00.html |archivedate=23 December 2007 |work=The Guardian |date=20 February 2007}} The RBS Group maintained that its charges were fair and enforceable and stated it intended to defend its position vigorously.{{cite web|url=http://www.investors.rbs.com/downloads/NW_CA_June_2007.pdf |title=Results for the Half Year Ended 30 June 2007 – Notes (6) Litigation (p.10) |publisher=National Westminster Bank |date=26 September 2007 |archiveurl=https://web.archive.org/web/20080909224555/http://www.investors.rbs.com/downloads/NW_CA_June_2007.pdf |archivedate=9 September 2008 }} On 24 April 2008, the High Court found that although these charges could not constitute penalties, they are challengeable under the Unfair Contract Terms Act 1977 and the Unfair Terms in Consumer Contracts Regulations 1999.{{cite web|url=http://news.bbc.co.uk/1/shared/bsp/hi/pdfs/2008_04_24_oft_judgment.pdf |title=The Office of Fair Trading v Abbey National Plc and seven others |archiveurl=https://web.archive.org/web/20211015072954/http://news.bbc.co.uk/1/shared/bsp/hi/pdfs/2008_04_24_oft_judgment.pdf |archivedate=15 October 2021 }} [2008] EWHC 875 (Comm); All ER (D) 349 (Apr) On 26 February 2009, the Court of Appeal ruled that fees for unauthorised overdrafts and bounced cheques are subject to regulation by the OFT under these rules.{{cite news|last=Osborne |first=Hilary |url=https://www.theguardian.com/money/2009/feb/26/bank-charges-case |title=Bank charges ruling paves way for refunds |archiveurl=https://web.archive.org/web/20170510202803/https://www.theguardian.com/money/2009/feb/26/bank-charges-case |archivedate=10 May 2017 |work=The Guardian |date=26 February 2009}}

In September 2009, NatWest announced dramatic cuts in their overdraft fees. The unpaid item fee was reduced to £5 from £38 and the card misuse fee was reduced from £35 to £15.{{cite news|last=Jones |first=Rupert |url=https://www.theguardian.com/money/2009/sep/07/rbs-natwest-overdraft-charges |title=Royal Bank of Scotland and NatWest cut overdraft charges |archiveurl=https://web.archive.org/web/20170510201747/https://www.theguardian.com/money/2009/sep/07/rbs-natwest-overdraft-charges |archivedate=10 May 2017 |work=The Guardian |date=7 September 2009}} The cuts came at a time when the row over the legality of unauthorised borrowing, estimated to earn current account providers about £2.6 billion a year, had reached the House of Lords.{{cite news|last=Osborne |first=Hilary |url=https://www.theguardian.com/money/2009/jun/23/banks-charges-appeal |title=Bank charges appeal reaches House of Lords |archiveurl=https://web.archive.org/web/20170510202134/https://www.theguardian.com/money/2009/jun/23/banks-charges-appeal |archivedate=10 May 2017 |work=The Guardian |date=23 June 2009}}

{{Main|2012 RBS computer system problems}}

In late June 2012, the group suffered a major computer malfunction,{{cite news|url=https://www.bbc.co.uk/news/business-18547149 |title=NatWest to open all weekend as problems persist |archiveurl=https://web.archive.org/web/20180819205836/https://www.bbc.co.uk/news/business-18547149 |archivedate=19 August 2018 |work=BBC News |date=22 June 2012}} resulting in some customers' account balances not updating correctly.[https://web.archive.org/web/20120623113617/http://www.telegraph.co.uk/finance/personalfinance/consumertips/banking/9349538/Millions-still-affected-by-NatWest-and-RBS-computer-glitch.html Millions still affected by NatWest and RBS computer glitch] The Telegraph – James Hall, 22 June 2012 Completions of some new home purchases were delayed,[https://www.theguardian.com/money/2012/jun/22/natwest-problems-stop-non-customers-home?newsfeed=true NatWest problems stop non-customers moving into new home] {{Webarchive|url=https://web.archive.org/web/20170510202731/https://www.theguardian.com/money/2012/jun/22/natwest-problems-stop-non-customers-home?newsfeed=true |date=10 May 2017 }} The Guardian – Lisa Bachelor, 22 June 2012 customers were stranded abroad, and one man was held in prison.{{cite news | url=https://www.bbc.co.uk/news/uk-18589280 | work=BBC News | title=RBS computer problems kept man in prison | date=26 June 2012 | access-date=20 June 2018 | archive-date=6 November 2018 | archive-url=https://web.archive.org/web/20181106051729/https://www.bbc.co.uk/news/uk-18589280 | url-status=live }} As a result of the error, RBS and NatWest announced that over 1,200 of their busiest branches would extend their hours throughout the week, including the bank's first Sunday opening, to enable the customers affected to access cash.{{cite news |url=https://www.telegraph.co.uk/finance/personalfinance/consumertips/banking/9353846/RBS-glitch-well-on-the-way-to-being-fixed-says-chief.html |archive-url=https://web.archive.org/web/20120626003207/http://www.telegraph.co.uk/finance/personalfinance/consumertips/banking/9353846/RBS-glitch-well-on-the-way-to-being-fixed-says-chief.html |url-status=dead |archive-date=26 June 2012 |title=RBS glitch 'well on the way' to being fixed, says chief |work=The Daily Telegraph |last=Hall |first=James |date=25 June 2012 |access-date=25 June 2012 |location=London}} On 25 June, over 1,000 branches opened for extended hours, and the number of phone staff was doubled.{{cite news |url=https://www.theguardian.com/business/2012/jun/23/natwest-technical-glitch-fixed |title=NatWest 'technical glitch' fixed, says spokesman |last=Adetunji |first=Jom |work=The Guardian |date=23 June 2012 |access-date=25 June 2012 |location=London |archive-date=1 October 2013 |archive-url=https://web.archive.org/web/20131001071627/http://www.theguardian.com/business/2012/jun/23/natwest-technical-glitch-fixed |url-status=live }}

Some customers also reported problems with direct debits and standing orders being returned unpaid due to their account balances not updating correctly. However, RBS stated in an announcement that they would work directly with the receiving banks and companies to ensure that all payments were processed. As a result of the system outage, RBS also announced that they would work with credit rating agencies directly to ensure no customer's credit file was permanently impacted. They also announced that no customer would be permanently out of pocket because of the system outage, and launched a dedicated new freephone helpline for the incident, as well as an online help point to guide and advise customers with any queries they had during the outage.{{cite news |last=Peachey |first=Kevin |date=25 June 2012 |title=NatWest computer failure: Your rights Q&A |url=https://www.bbc.co.uk/news/business-18579949 |work=BBC News |access-date=4 December 2013 |archive-date=9 June 2014 |archive-url=https://web.archive.org/web/20140609140448/http://www.bbc.co.uk/news/business-18579949 |url-status=live }}

In December 2013, a similar computer failure led to a number of customers being unable to use NatWest card services to pay for goods. This second major outage of services fell on what is known as Cyber Monday, when major retailers discount goods to boost Christmas shopping. The Group chief executive at the time conceded that the bank would have "to do better".{{cite news |date=3 December 2013 |title=RBS must do better after payment fault, says boss |url=https://www.bbc.co.uk/news/business-25193884 |work=BBC News |access-date=4 December 2013 |archive-date=3 December 2013 |archive-url=https://web.archive.org/web/20131203194747/http://www.bbc.co.uk/news/business-25193884 |url-status=live }}

On 20 March 2017, the British paper The Guardian reported that hundreds of banks had helped launder KGB-related funds out of Russia, as uncovered by an investigation named Global Laundromat. NatWest was listed among the 17 banks in the UK that were "facing questions over what they knew about the international scheme and why they did not turn away suspicious money transfers," as the bank processed $1.1 million in Laundromat cash. Other banks facing scrutiny under the investigation included HSBC, the Royal Bank of Scotland, Lloyds Bank, Barclays and Coutts.[https://www.theguardian.com/world/2017/mar/20/british-banks-handled-vast-sums-of-laundered-russian-money British banks handled vast sums of laundered Russian money in The Guardian] {{Webarchive|url=https://web.archive.org/web/20170414031504/https://www.theguardian.com/world/2017/mar/20/british-banks-handled-vast-sums-of-laundered-russian-money |date=14 April 2017 }} by Luke Harding, Nick Hopkins and Caelainn Barr on Monday, 20 March 2017

In December 2021, the bank was convicted at Westminster Magistrates' Court of three counts of failing to comply with anti–money laundering regulations, marking the first time that the Financial Conduct Authority had pursued criminal charges against a financial institution for failings in combating money laundering. NatWest pleaded guilty to the three counts, which concerned a jewelers, Fowler Oldfield, depositing £365 million between 2012 and 2016 of which £264 million was in cash, despite predicted annual turnover of £15 million. FCA lawyers stated that large volumes of cash were deposited in black bin bags, and that the quantity of notes failed to fit within the branch vaults.{{cite news|date=13 December 2021|title=NatWest fined £265m after bin bags of cash laundered|work=BBC News|url=https://www.bbc.com/news/business-59629711|access-date=17 December 2021|archive-date=17 December 2021|archive-url=https://web.archive.org/web/20211217115732/https://www.bbc.com/news/business-59629711|url-status=live}}

In a statement, a spokesman for the Financial Conduct Authority said "'NatWest is responsible for a catalogue of failures in the way it monitored and scrutinised transactions that were self-evidently suspicious. Combined with serious systems failures, like the treatment of cash deposits as cheques, these failures created an open door for money laundering."{{cite web|date=13 December 2021|title=NatWest fined £264.8 million for anti-money laundering failures|url=https://www.fca.org.uk/news/press-releases/natwest-fined-264.8million-anti-money-laundering-failures|access-date=17 December 2021|website=FCA|archive-date=17 December 2021|archive-url=https://web.archive.org/web/20211217115746/https://www.fca.org.uk/news/press-releases/natwest-fined-264.8million-anti-money-laundering-failures|url-status=live}}

The name NatWest has been associated with cricket tournaments held in England. From 1981 until 2000, the bank was the title sponsor of English domestic cricket's main limited overs knockout tournament, which was known as the NatWest Trophy during that period. Between 2000 and 2013, the NatWest Series was an annual one-day international tournament involving England and two visiting international teams. NatWest was also a main sponsor of the 1999 Cricket World Cup, held in England. Since May 2017, it has been the shirt sponsor for the England men's and women's cricket teams.{{cite news|last=Hoult|first=Nick|title=Investec pulls out of 10-year £40m deal to sponsor Test cricket in England|url=https://www.telegraph.co.uk/cricket/2017/01/06/investec-pull-10-year40m-deal-sponsor-test-cricket-england/ |archive-url=https://ghostarchive.org/archive/20220112/https://www.telegraph.co.uk/cricket/2017/01/06/investec-pull-10-year40m-deal-sponsor-test-cricket-england/ |archive-date=12 January 2022 |url-access=subscription |url-status=live|access-date=7 May 2018|work=The Telegraph|date=6 January 2017}}{{cbignore}}

The bank also sponsored England's Test series against Pakistan in 2018.

NatWest is sponsor of the Southern Paintball League, the leading competitive paintball series in the south of England.

NatWest was the main sponsor of the Island Games (known at the time as the NatWest Island Games) from 1999 through to 2019.

NatWest CommunityForce is "a platform that empowers local projects and charities to raise awareness of their work and make their plans a reality with the support of NatWest and their local community."{{cite web |url=http://communityforce.natwest.com/about/ |title=About CommunityForce |website=NatWest CommunityForce |archive-url=https://web.archive.org/web/20120226095332/http://communityforce.natwest.com/about |archive-date=26 February 2012 |access-date=30 October 2011}}

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