Our ring-fencing plans explained

We are making some changes to the way our business is structured. This is to prepare for a change in UK law relating to ring-fencing. The majority of our customers won't need to do anything as they are not affected.

The Royal Bank of Scotland Group plc, along with other major UK banks, is required by UK law to separate everyday banking services from investment banking. This separation is called ring-fencing and is designed to make banking safer and to help protect the UK economy. It becomes law from 1 January 2019 and to prepare for it we need to make some changes to the way our group is structured. To find out more about ring-fencing, watch our video or read on.

What this means for our customers

The majority of our customers will experience very little change. They will continue to use the same bank account, with the same cards and cheque books. For those customers where there may be any difference in products, or how we provide them, we are in touch to explain this fully.

Most of the changes we have had to make to help facilitate the separation of essential banking services from investment banking services are complete now and included the use of a legal scheme called a Ring-Fencing Transfer Scheme (RFTS) on two occasions during the course of 2018. 

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