The legal detail
Terms and Conditions of Use of the National Westminster Bank Plc Website
This website is owned and maintained by National Westminster Bank Plc ("us", "we" or "NatWest"), which is part of The Royal Bank of Scotland Group ("the RBS Group"). The use of this website is subject to the following terms and conditions that you should read carefully. By using this website you agree to be legally bound by these terms and conditions. If you do not accept these terms and conditions, please do not use this website. In addition, all of our products and services have their own terms and conditions. If you are considering applying for any of our products or services, please read these first. We make these available by at least one of the following methods: (i) by clicking the link on the relevant pages of this website; (ii) in our branches; or (iii) on request from us. These should be read together with the following website terms and conditions. However if there is any conflict between the two, the terms and conditions for the particular product or service will prevail.
Use of this website
1 The information provided on this website or in any communication containing a link to this site is for personal use and information purposes only and is not intended for distribution to, or use by, any person or entity in any jurisdiction in any country where such distribution or use would be contrary to law or regulation or which would subject any member of the RBS Group to any registration requirement within such jurisdiction or country. Where any opinions are expressed on this website, they are provided by NatWest for personal use and for information purposes only.
2 Unless otherwise stated on the product pages, the services and products on this website are intended for use by residents of the United Kingdom only, and are not aimed at or intended for use by residents of any other jurisdiction.
3 Where any information on this website constitutes a financial promotion for the purposes of the Financial Services and Markets Act 2000, it is issued and approved by us for distribution and use in the UK only.
4 This website is designed to be accessed through its principal home pages and such other pages as we may decide. If you access the site through individual pages directly, which are not designed for this purpose, you may not see important information that is relevant to information on this website. You will be referred on certain site pages to read "Legal Information". This will contain important details and/or relevant legal or regulatory information and should be read in conjunction with the relevant site pages.
Exclusion of liability
5 These 'Exclusion of Liability' provisions should be read carefully as they exclude or limit our legal liability in connection with your use of this website. Nothing in these terms and conditions and in particular within the 'Exclusion of Liability' clauses shall attempt to exclude liability that is not permissible to exclude under applicable law, including without limitation, for death or personal injury, or for fraudulent misrepresentation.
6 Nothing in these terms and conditions shall exclude or limit or restrict our duties and liabilities to you under the Financial Services and Markets Act 2000, or any conduct of business rules which we are bound to comply with.
7 While we have taken all reasonable steps to ensure the accuracy and completeness of the content of the website, we exclude any warranties, undertakings or representations (either express or implied) to the full extent permitted under applicable law, that the website or (including without limitation) all or any part of the content or materials, accuracy, availability or completeness of the content of the website or any part of the content or materials, are appropriate or available for use either in the United Kingdom or in other jurisdictions. If you use this website from other jurisdictions, you are responsible for compliance with applicable local laws.
8 We accept no liability however caused (to the maximum extent permitted by applicable law) arising out of the use of or access to this website (which includes without limitation) any errors or omissions contained in this website or if the website is unavailable and we shall not be liable for any direct or indirect:
economic losses (including without limitation loss of revenues, data, profits, contracts, use, opportunity, business or anticipated savings);
loss of goodwill or reputation; or
loss or damage which was not reasonably foreseeable,
suffered or incurred arising out of or in connection with your use of this website and/or these terms and conditions.
9 Access to and use of this website is at your own risk and we do not warrant that the use of this website or any material downloaded from it will not cause damage to any property, or otherwise minimise or eliminate the inherent risks of the internet including but not limited to loss of data, computer virus infection, spyware, malicious software, trojans and worms. Also, we accept no liability in respect of losses or damages arising out of changes made to the content of this website by unauthorised third parties.
10 To provide increased value to users of this website, we may provide links to other websites or resources (that are not part of the RBS Group) for you to access at your sole discretion. You acknowledge and agree that, as you have chosen to enter the linked website we are not responsible for the availability of such external sites or resources, and that we do not review or endorse and shall not be responsible or liable, directly or indirectly, for (i) the privacy practices of such websites, (ii) the content of such websites, including (without limitation) any advertising, content, products, goods or other materials or services on or available from such websites or resources or (iii) the use that others make of these websites or resources, nor for any damage, loss or offence caused or alleged to be caused by, or in connection with, the use of or reliance on any such advertising, content, products, goods or other materials or services available on such external websites or resources.
11 © 2006 National Westminster Bank Plc. All rights, save as expressly granted, are reserved. Reproduction in any form of any part of the contents of this website without our prior written consent is prohibited unless for personal use only.
12 This website contains numerous trade marks belonging to NatWest and other companies in the RBS Group. These trade marks include, but are not limited to, the National Westminster Bank Plc THREE CHEVRONS logo, NatWest and Primeline. If you are in doubt as to whether an item is a trade mark of NatWest or a member of the RBS Group, please contact us for clarification at the registered office address below.
13 The contents of this website do not purport to provide any financial, investment or professional advice and nothing on the pages of this website shall be deemed to constitute the offer or provision of financial, investment or other professional advice in any way. In particular, you should obtain advice from a qualified financial adviser before making any investment decision.
Changes to this website
14 The contents of this website, including these terms and conditions of use, are subject to change by us without notification. Additionally NatWest shall not be obliged to remove any outdated information from the website or to expressly mark it as being outdated.
16 In order to maintain the security of its systems, protect its staff and detect fraud and other crimes, NatWest reserves the right to monitor all internet communications, including web and email traffic, into and out of its domain. Monitoring includes (without limitation) checks for viruses and other malignant code, criminal activity, and use or content that is unauthorised or unlawful or material that may cause offence in any way.
17 Persons accessing this website from Australia should note that their access to, and use of, the information, services and products on this website may be prohibited under the Australian Corporations Act 2001 or under the RBS Group's Australian Financial Services Licence. Nothing contained in this website should be construed as an authorisation to access or use the information, services or products on this website, in Australia, where such prohibitions apply.
Other important information
18 The information, and any opinion contained in this website does not constitute a public offer under any applicable legislation or an offer to sell or solicitation or an offer to buy any securities or financial instruments or any advice or recommendation with respect to such securities or other financial instruments.
19 This website contains certain 'forward looking statements' as that term is defined in the United States Private Securities Litigation Reform Act of 1995, such as statements that include the words 'expect', 'estimate', 'project', 'anticipate', 'should', 'intend', 'plan', 'probability'', 'risk', 'Value-at-Risk ('VAR')', 'target', 'goal', 'objective', 'will', 'endeavour', 'outlook', 'optimistic', 'prospects' and similar expressions or variations on such expressions.
20 Factors that could cause actual results to differ materially from those estimated by the forward-looking statements contained in this website include, but are not limited to, general economic conditions in the UK and in other countries in which the RBS Group has significant business activities or investments, including in the United States; the monetary and interest rate policies of the Bank of England, the Board of Governors of the Federal Reserve System and other G-8 central banks; unanticipated turbulence in interest rates, foreign currency exchange rates, commodity prices or equity prices; changes in UK or foreign laws, regulations or taxes; changes in competition or pricing environments; natural and other disasters; the inability to hedge certain risks economically; the adequacy of loss reserves; acquisitions or restructurings; technology changes; changes in consumer spending and saving habits; and the success of the RBS Group in managing the risks involved in the foregoing. The risks and uncertainties are discussed in the RBS Group's SEC filings. The forward-looking statements contained in this website speak only as of the date of the related document, and the RBS Group does not undertake to update any forward looking statement to reflect events or circumstances after the date hereof.
21 The information contained in this website is subject to, and must be read in conjunction with, all other publicly available information, including, where relevant any fuller disclosure document published by the RBS Group. Any person at any time acquiring the securities must do so only on the basis of such person's own judgement as to the merits of the suitability of the securities for its purposes and only on such information as is contained such in public information having taken all such professional or other advice as it considers necessary or appropriate in the circumstances and not in reliance on the information contained herein. The information is not tailored for any particular investor and does not constitute individual investment advice.
22 Information in this website relating to the price at which investments have been bought or sold in the past or the yield on investments cannot be relied upon as a guide to future performance.
23 The financial information published or to be published on this website, or made available or to be made available through this website, such as annual reports and quarterly reports, is compiled and placed on this website with the greatest of care. Nevertheless, only the original hard-copy English versions of this information shall be regarded as the original version. No rights may be derived from financial information published or to be published on this website, or available or to be made available through this website, including with regard to its accuracy and completeness.
24 In addition, it should be noted that the annual report and accounts of the RBS Group which are published on this website or made available through this website, may be subject to adoption by the Annual General Meeting of Shareholders of the RBS Group for the year to which the report and accounts relate.
25 National Westminster Bank Plc. Registered in England and Wales (Registered Number 929027), Registered Office: 250 Bishopsgate, London EC2M 4AA. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. NatWest is entered on the Financial Services Register and its Register number is 121878. The Financial Services Register can be accessed at www.fca.org.uk/register. NatWest's registered VAT number is GB 243852752.
26 NatWest adheres to the Standards of Lending Practice which are monitored and enforced by the LSB. Find out more at www.lendingstandardsboard.org.uk.
27 If you are not satisfied with any NatWest product or service we have a complaint handling procedure that you can use to resolve such matters. NatWest is covered by The Financial Ombudsman Service. If you are still not satisfied after following the NatWest procedures, you can ask the Ombudsman to review the complaint. You can find out more about The Financial Ombudsman Service in a leaflet available from any branch or by telephoning NatWest. Alternatively you can write to: Financial Ombudsman Service, Exchange Tower, London, E14 9SR or telephone 020 7964 1000.
28 In the event that any provision of these terms and conditions of use of this website is held unenforceable, it will not affect the validity and enforceability of the remaining provisions.
29 The terms and conditions of use of this website are governed by the laws of England and any dispute regarding this website shall be subject to the non-exclusive jurisdiction of the courts of England and Wales.
Inter-Bank Agency Agreements
This section contains information for other banks that either have or may wish to consider setting up an Inter Bank Agency Agreement with us.
30 Inter-Bank Agency Agreements are bi-lateral arrangements between banks. They principally provide a service offering of certain branch counter services to another bank's customers by prior arrangement. They facilitate an essential service that enables businesses to access banking facilities where they might otherwise find this difficult - for example due to location or size of their own bank's branches. The nature and range of the counter services offered is at the discretion of the providing bank. The banks charge each other on a reciprocal basis after the other bank's customer uses the agreed counter service.
The Counter Service transactions that are covered are as follows:
Cheques Paid In
Bank Giro Credits
Wages/Salary Cheques cashed
Special Presentations (Cheques)
Returned Cheques Collected
Whilst we wish to be as co-operative as possible when we receive a request from another bank for the provision of these facilities to their customers, there may be situations where we are unable to provide these facilities, even though we may have a branch situated locally (e.g. the anticipated volumes of activity exceed the capacity of the particular branch).
Outline of the process for setting up a new Inter-Bank Agency Agreement (IBAA) (i.e. where no formal arrangement already exists between NatWest and the account-holding bank)
An application to set up a new IBAA must be made by the account-holding bank.
The other bank's customers should approach their own bank/ branch indicating that they wish to use the counter facilities at a specific branch or branches of NatWest.
The account-holding bank should then apply, in writing, to NatWest at GTS UK, 8th Floor, 250 Bishopsgate, London, EC2M 4AA, outlining the requirements of the customer, including the branch(es) concerned and the pattern and volume of activity the customer is likely to transact.
The application usually takes a few weeks to process. The processing time will be reduced if all the requisite documentation and information relating to the customer, is submitted with the application.
Outline of the process to be followed where a formal arrangement already exists between NatWest and the account holding bank
Where a non-NatWest customer wishes to use the counter facilities at a specific branch or branches of NatWest and the account-holding bank already has a formal Agency Agreement with NatWest in place, the account-holding bank should write directly to the NatWest branch(es) concerned, requesting these facilities and outlining the requirements of the customer.
Clearance of funds under an IBAA
For IBAAs, value (via the credit clearing system) will usually be provided to the account-holding bank on working day 3, for both cash and cheques.
Where there is no mechanism in place to confirm whether a cheque has been paid or not, unpaid cheques will normally be in a collecting banker's hands on working day 4. Under an IBAA, when the original credit has been forwarded to another bank, the advice to that bank (the account holding bank) will not be received by them until at least working day 5.
At each step, the process may be shortened if information is provided by telephone.
When NatWest acts as a "collecting banker" for credits paid into accounts with other banks, it does so "with recourse" in the event that the underlying cheques may be returned unpaid.
It is up to the account-holding bank to determine at which stage it will provide "cleared" funds to its customer. If the underlying transaction is cash paid in at the collecting bank, the account-holding bank should normally provide cleared value on working day 3. However, for cheques, although NatWest applies a cleared value on working day 3, it cannot be certain at that time that the cheque will definitely be paid. The earliest occasion on which NatWest would be aware of non-payment will be around 4 working days after deposit, although in some circumstances this period could be longer. For this reason, NatWest recommends the account holding bank to require its customers to wait until at least working day 5, before allowing them to withdraw funds.
NB. Day 1 = The day that a cheque is paid in at branch and processed (assuming that the cheque is not held over to the next working day, which will happen if it's paid in after the 'cut off' time. The cut off time for most NatWest branches is 3:30pm, Monday to Friday, however please note that there can be local variations).
NatWest products and services:
Online and Telephone banking
System updates may mean that the services are unavailable for short periods in the early hours of the morning.
Business: Advice and Assistance
The Mentor Employment Law Service, Mentor Health Service and Mentor Tax Service are provided by NatWest Mentor Services which is a trading name of The Royal Bank of Scotland plc.
For most business insurance enquiries NatWest Insurance Services will only offer products from National Insurance & Guarantee (NIG). NIG is a trading name of U K Insurance Limited. If NatWest Insurance Services are unable to provide a solution from the range of products available through NIG they will obtain your agreement to refer your enquiry to a member of their specially appointed broker panel. In this instance not all benefits listed will apply.
NatWest Business Insurance is arranged by U K Insurance Business Solutions Ltd and is underwritten by U K Insurance Limited trading as NIG. U K Insurance Business Solutions Ltd is authorised and regulated by the Financial Conduct Authority and U K Insurance Limited trading as NIG is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. U K Insurance Business Solutions Ltd. Registered office: Churchill Court, Westmoreland Road, Bromley, Kent, BR1 1DP. Registered in England No 05196274. Calls may be recorded.
Business: International Banking
The Royal Bank of Scotland International Limited trading as NatWest International (NatWest International). Registered Office: P.O. Box 64, Royal Bank House, 71 Bath Street, St. Helier, Jersey JE4 8PJ. Tel. 01534 282850. Regulated by the Jersey Financial Services Commission.
Guernsey business address: PO Box 62, Royal Bank Place, 1 Glategny Esplanade, St. Peter Port, Guernsey, GY1 4BQ. Tel. 01481 703860. Regulated by the Guernsey Financial Services Commission and licensed under the Banking Supervision (Bailiwick of Guernsey) Law, 1994, as amended, the Insurance Managers and Insurance Intermediaries (Bailiwick of Guernsey) Law, 2002, and the Protection of Investors (Bailiwick of Guernsey) Law, 1987, as amended.
Isle of Man business address: 2 Athol Street, Douglas, Isle of Man, IM99 1AN. Tel. 01624 637190. Licensed by the Isle of Man Financial Services Authority in respect of Deposit Taking, Investment Business and registered as a General Insurance Intermediary.
Gibraltar business address: NatWest International is the registered business name of The Royal Bank of Scotland International Limited under the Business Names Registration Act. Gibraltar business address: National Westminster House, PO Box 707, 57 Line Wall Road, Gibraltar. Tel. 200 77737 or 200 73200. Regulated and authorised by the Financial Services Commission, Gibraltar to undertake Banking and Investment Business from 55 and 57 Line Wall Road and 1 Corral Road, Gibraltar.
Our services are not offered to any person in any jurisdiction where their advertisement, offer or sale is restricted or prohibited by law or regulation or where we are not appropriately licensed.
Isle of Man Bank
The Royal Bank of Scotland International Limited trading as Isle of Man Bank (Isle of Man Bank). Registered Office: Royal Bank House, 71 Bath Street, St Helier, Jersey JE4 8PJ. Tel. 01534 282850. Regulated by the Jersey Financial Services Commission.
Isle of Man business address: 2 Athol Street, Douglas, Isle of Man, IM99 1AN. Tel. 01624 637000. Licensed by the Isle of Man Financial Services Authority in respect of Deposit Taking, Investment Business and registered as a General Insurance Intermediary.
Financial Services Compensation Scheme
National Westminster Bank plc is a member of the Financial Services Compensation Scheme (FSCS). The Scheme can pay compensation to customers if they are eligible and a regulated firm is unable to pay claims against it, usually if the firm stops trading or is insolvent. Compensation limits apply depending on the type of claim:
Persons dealing with any member of the RBS Group outside the UK should be aware that they may not be covered by the rules and regulations applicable for the protection of investors in the UK and should seek advice in the relevant territory.
- Deposits - for money held in a bank or building society in the UK, the scheme will cover up to £85,000. Deposits in all currencies are treated the same. Most individuals, businesses and corporations can claim back up to £85,000 (or £85,000 for each eligible account holder if it’s a joint account).
- Investments - maximum £85,000, i.e. 100% of first £85,000 per person.
- Mortgage advice and arranging (for business conducted on or after 31 October 2004) - maximum £50,000, i.e. 100% of first £50,000 per person.
- Long-term insurance (e.g. pensions): maximum 90% of the claim without any upper limit.
- Life assurance: The Compensation scheme may cover up to 100% of the total amount of your claim.
- Compulsory insurance (e.g. third party motor): 100% of the claim, without any upper limit.
- Non-compulsory insurance (e.g. home and general): maximum 90% of the claim, without any upper limit.
- General insurance advice and arranging: (for business conducted on or after 14 January 2005). Maximum 90% of the claim, without any upper limit.
For further information about the compensation provided by the FSCS please refer to the FSCS website at www.fscs.org.uk