Are you a Royal Bank of Scotland (RBS) or NatWest business banking customer? If so, you might be able to switch your account to us under the Business Banking Switch scheme. We’re taking part in this government initiative to help increase competition in the UK banking market.
If you are one of the customers who is eligible to switch banks as part of this scheme, RBS or NatWest will have contacted you to tell you. If you’re not, you can still chose to switch your account to us please click here to find out more and apply.
How to Switch.
If you’ve been notified by RBS or NatWest that you’re part of this scheme, you’re entitled to an exclusive offer that’s not available to anyone else.
If you are eligible to take part in the scheme you’ll need to start your switch on the RBS Business Banking Switch website. Once you shortlist TSB we’ll contact you with your exclusive offer and start your switch.
Business Marketplaceiv which helps you get the right loan for your business. We’ve partnered with Funding Options who search online from over 50 different lenders. Compare value to make sure you borrow well.
Representative Example v based on an assumed loan amount of £13,000 over 60 months, an annual interest rate of 9.06%p.a. (fixed) applies with an initial arrangement fee of £250, and monthly repayments of £273.12. Representative 9.94% APR (fixed). Total repayable £16,387.38.
Simple Interest Rate 8.70%.
Can customers from other banks switch to TSB as part of the Business Banking Switch?
Only certain RBS and NatWest customers can switch to us under this scheme. But we still have great offers available if you switch your existing business account to us.
We believe that smaller, independent businesses and organisations like yours play a vital role in the success of communities, right across the UK. And that’s why we’re continuing to invest in products and services to help you run and grow your business now and in the future.
i Subject to staying within agreed limits and not going overdrawn without arranging this first.
ii Overdrafts are subject to status and lending criteria, and repayable on demand.
iii For balances over £5,000. AER stands for Annual Equivalent Rate, which shows what the interest rate would be if interest was paid and compounded once each year. Gross rate is the contractual rate of interest payable before income tax is taken off.
iv Cashback offer on loans applies only to loans switched form RBS or NatWest as part of the Business Banking Switch Scheme, not for loans through TSB Business Market place.
v Subject to status and lending criteria. We may ask for evidence of your existing loan details.
The APR will vary depending on the loan amount and term. Annual Percentage Rate Representative (APR Representative) is the advertised rate (or a lower rate) we reasonably expect at least 51% of people who are accepted for and enter into the loan agreement, as a result of the advertising or marketing, will pay. Annual Interest Rate (AIR) is the rate of interest on a loan with the rate compounded on a monthly basis. Simple Interest Rate is the rate at which daily interest accrues on the loan (not compounded).