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National Westminster Bank Plc
Type Public Limited Company
Founded 1968
Headquarters 135 Bishopsgate,
London EC2M 3UR
Key people Sir Philip Hampton, Chairman,
Stephen Hester, Chief Executive
Industry Financial Services
Products Banking and Insurance
Employees 33,300
Parent Royal Bank of Scotland Group
Subsidiaries National Westminster Home Loans, National Westminster Life Assurance
Website www.natwest.com

National Westminster Bank Plc, commonly known as NatWest, is a retail bank in the United Kingdom that has been part of The Royal Bank of Scotland Group Plc since 2000. It was established in 1968 by the merger of National Provincial Bank (established 1833 as National Provincial Bank of England) and Westminster Bank (established 1834 as London County and Westminster Bank). Traditionally considered one of the Big Four clearing banks, NatWest has a large network of 1,600 branches and 3,400 cash machines across Great Britain and offers 24-hour Actionline telephone and online banking services. Today it has more than 7.5 million personal customers and 850,000 small business accounts. In Northern Ireland it operates through its Ulster Bank subsidiary.

Contents

History

The bank can trace its roots back to 1650 with the foundation of Smith's of Nottingham.[1] The creation of the modern bank was announced in 1968 and National Westminster Bank Limited commenced trading on 1 January 1970, after the statutory process of integration had been completed in 1969.[2] The famous three arrowheads symbol was adopted as the new bank's logo; said either to symbolise circulation of money in the financial system or the bank's three constituents,[3] National Provincial, Westminster, and District Bank (established 1829), the latter being taken over by National Provincial Bank in 1962 and allowed to operate under its own name until the formation of National Westminster Bank. The District, National Provincial, and Westminster Bank were fully integrated in the new firm's structure, while Coutts & Co. private bankers (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.[4] In 1969 David Robarts, former chairman of National Provincial, assumed Stirling's position.[5] 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 the Royal Bank of Scotland) which launched the Access credit card (now MasterCard) in 1972 and in 1976 it introduced the Servicetill cash machine. The same banks (although this time not including Lloyds) were later responsible for the introduction of the Switch debit card (now branded Maestro) in 1988.[6]

Expansion

The NatWest branch at Leighton Buzzard, Bedfordshire, an example of Neo-Renaissance architecture.

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.[7] The Action Bank advertising campaign spearheaded a new marketing-led approach to business development.[8] 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, NatWest Australia Bank and opening branches on the European continent and in the Far East.[9] In 1982, the Frankfurt office of International Westminster Bank was merged with Global Bank AG to form Deutsche Westminster Bank and in 1988, National Westminster Bank SA was incorporated and took 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 as there was no longer any advantage in operating separately.[10]

Completed in 1980, the bank built the iconic National Westminster Tower 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, its footprint in the shape of the bank's logo.[11] Also worthy of note is National Westminster House in Birmingham, no longer owned by the bank, the building was most recently sold to British Land.[12]

Controversy

The bank's expansion strategy hit trouble with the stock market crash of 1987 and involvement in the financial scandal surrounding the collapse of Blue Arrow. 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.[13] Later, the bank would divest its overseas subsidiaries. The North American operations were sold to Fleet Bank and Hongkong Bank of Canada respectively. Thereafter the bank concentrated on its core domestic business as the restyled NatWest Group, reflecting its modern positioning as a portfolio of businesses.[14] In 1993, the NatWest Tower was devastated by a Provisional IRA bomb and the bank vacated the building, subsequently selling it.[15] Then, in 1997, NatWest Markets, the corporate and investment banking arm formed in 1992, revealed a £50m loss had been discovered, escalating to £90.5m 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.[16] 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.[17] 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.[18]

Takeover

In 1999, the last chairman, Lord Alexander of Weedon, announced a merger with Legal & General in a friendly £10.7bn deal, the first between a bank and an insurance company in UK history.[19] The move received a poor reception in the London financial markets, and NatWest's share price fell substantially.[20] In response, the Governor and Company of the Bank of Scotland began a hostile takeover bid for the bank, an audacious move for the much smaller Scottish bank. 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.[21] The Royal Bank of Scotland tabled another hostile offer and trumped the Bank of Scotland with a £21bn bid.[22] The takeover of NatWest in early 2000 was the biggest in UK history. National Westminster Bank, once Britain's most profitable bank, was delisted from the London Stock Exchange and became, with its subsidiaries, component parts of The Royal Bank of Scotland Group.[23] The outcome of this bitter struggle set the tone for a round of consolidation in the financial sector as it prepares for a new age of fierce global competition.[24] 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 the then 13th largest company in the world.[25] While NatWest was retained as a distinct brand, many back office functions were merged with those of the Royal Bank leading to over 18,000 job losses.

Divestment

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.[26] As a consequence of the mismanagement which necessitated this rescue, the chief executive, Sir Fred Goodwin (who secured the takeover of NatWest), offered his resignation which was duly accepted. Chairman, Sir 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. Subsequently, in 2009, it was announced that Royal Bank branches in England and Wales (until 1985, Williams & Glyn's Bank) together with NatWest branches in Scotland were to be divested by the Group under the revived Williams & Glyn's brand, to comply with European Union state aid requirements.[27][28] The process could take up to four years to complete.[29][30]

Structure

The old court house at Ruthin, Denbighshire, built in 1401, now a NatWest branch.[31]

The Royal Bank of Scotland Group Plc operates internationally through its two principal subsidiaries, the Royal Bank (in Scotland) and NatWest (in England and Wales).[32] The NatWest group of companies comprises National Westminster Bank Plc and its subsidiary and associated undertakings.[33] The principal subsidiary undertakings of the bank today are:

  • Coutts & Co., part of RBS Group Wealth Management, incorporating RBS Coutts Bank (formerly Coutts Bank von Ernst) Ltd. trading as RBS Coutts International in Switzerland;[34]
  • Greenwich Capital Markets Inc., securities broker-dealer, trading as RBS Greenwich Capital (formerly Greenwich NatWest) in the US;[35] and
  • Ulster Bank Limited, incorporating, from 2001, Ulster Bank Ireland Ltd. in the Republic of Ireland.[36]

Until 2003 National Westminster Bank was a wholly-owned subsidiary of The Royal Bank of Scotland Group, now the ultimate holding company. In January 2003 ownership of the bank's entire issued ordinary share capital was transferred from the ultimate holding company to The Royal Bank of Scotland Plc, as holding company. At that time the entire issued share capital of Lombard North Central Plc was transferred by the bank to the holding company.[37] Ownership of National Westminster Home Loans Limited was passed to the holding company in December 2005.[38] In December 2000 the bank transferred National Westminster Life Assurance Limited to RBS Life Investments Limited, effectively establishing the business as a joint venture between the Group and Norwich Union.[39]

The Royal Bank of Scotland Group comprises the ultimate holding company and its subsidiary and associated undertakings. The Group is structured into the following main operating areas:

  • Retail Markets, providing a broad range of retail services across different brands and channels to personal and small business customers;
  • Corporate Markets, a leading banking partner to UK commercial customers and major corporations and governmental institutions around the world, providing an extensive range of debt, risk and investment services;
  • RBS Insurance, the second-largest general insurer in the UK, with brands including Direct Line, Churchill and Green Flag;
  • Ulster Bank Group, incorporating the former First Active Plc in the Republic of Ireland; and
  • Citizens Financial Group, which provides retail and corporate banking services across 13 states in the northeastern and midwestern US, with a retail and commercial presence in more than 30 other states.

Services

The NatWest branch at Wetherby, West Yorkshire.

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.[40] In 2005 it announced the reintroduction of a mobile banking service, providing banking facilities to remote communities in Cornwall.[41] 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.[42]

In 2006 The Royal Bank of Scotland Group undertook the first trial of PayPass contactless debit and credit cards in Europe.[43] These can be used to pay for purchases under £10 by tapping an enabled card on the retailer's terminal.[44] In an effort to enhance security, hand-held devices for use with a card to authorise online banking transactions were introduced in 2007. These card readers do not retain personal information but verify numbers during a transaction.[45] From autumn 2009, NatWest and RBS are migrating debit cards from Maestro and Solo to Visa Debit.[46] The bank participates fully in the Faster Payments Service, an initiative to speed up certain payments, launched in 2008.[47] Established in 1989, Streamline is the leading provider of merchant accounts in Europe, giving businesses the ability to accept credit and debit card payments and handling around half of all such transactions. In 2009 it was merged into RBS WorldPay.[48]

The bank is authorised and regulated by the Financial Services Authority,[49] a member of the Financial Ombudsman Service, the Financial Services Compensation Scheme, the Association for Payment Clearing Services and of the British Bankers' Association; it subscribes to the Banking Code and Business Banking Code. Mortgages, available in England, Scotland and Wales only, are provided by National Westminster Home Loans Limited, a member of the Council of Mortgage Lenders,[50] the NatWest One account is a secured personal account with the Royal Bank of Scotland Plc. The Spanish Mortgage is provided by Adam and Company Plc, a subsidiary of the Royal Bank of Scotland, trading as NatWest. NatWest Insurance Services is a trading name of RBS Business Insurance Services Limited, acting as intermediary and broker for general insurance. Life Protector and Guaranteed Bond products are provided by National Westminster Life Assurance Limited.[51] The Royal Bank of Scotland International Limited, trading as NatWest Offshore, operates branches in Jersey, Guernsey, the Isle of Man and Gibraltar. Share dealing services are provided by NatWest Stockbrokers Limited,[52] which is a member of the London Stock Exchange and PLUS. NatWest Stockbrokers is operated by a joint venture between The Royal Bank of Scotland Group and the Toronto-Dominion Bank, TD Waterhouse Investor Services (Europe) Limited. In 2010, RBS Intermediary Partners was re-branded NatWest Intermediary Solutions.[53]

The bank is a member of the Cheque and Credit Clearing Company Limited, Bankers Automated Clearing Services Limited, the Clearing House Automated Payment System Limited and the LINK Interchange Network Limited. National Westminster Bank use the following series of six digit sorting codes formatted into three pairs separated by hyphens:—

Range Note
01 former District Bank Ltd.
50–59 former National Provincial Bank Ltd.
55 in use by Isle of Man Bank Ltd.
60–66 former Westminster Bank Ltd.
18 for use of Coutts & Co.
98 for use of Ulster Bank Ltd.

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

Litigation

Modern signage on the NatWest branch at Saint Helier, Jersey, built 1873, in the Channel Islands.

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.[54] It has been argued that the alleged crime was committed by British citizens living in the UK against a British company based in London[55] and therefore, any resulting criminal case falls under the jurisdiction of the English courts.[56] However, the Serious Fraud Office decided not to prosecute due to lack of evidence.[57] 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,[58] whereas no such facility exists to extradite US citizens to the UK.[59] On 28 November 2007 the three admitted one charge of wire fraud after a plea bargain.[60] On 22 February 2008 they were each sentenced to 37 months in prison.[61]

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.[62] 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.[63] The Royal Bank of Scotland Group maintained that its charges were fair and enforceable and stated it intended to defend its position vigorously.[64] 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.[65] 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.[66]

In September 2009, NatWest and RBS both 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.[67] The cuts came at a time when the row over the legality of unauthorised borrowing, estimated to earn current account providers about £2.6bn a year, had reached the House of Lords.[68]

Sponsorship

The name NatWest has been associated with two major 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. Since 2000, the NatWest Series has been an annual one-day international tournament involving England and two visiting international teams. NatWest were also a main sponsor of the 1999 Cricket World Cup, held in England.

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

References

  1. ^ Samuel Smith & Co. The Royal Bank of Scotland Group, Archive Guide (retrieved 5 April 2009)
  2. ^ 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
  3. ^ When did the Royal Bank and NatWest introduce their brand marks? The Royal Bank of Scotland Group, Frequently Asked Questions (retrieved 8 January 2008)
  4. ^ Mosley, Charles (ed.) Burke's Peerage, Baronetage and Knightage (107th ed.) vol.1 (p.1233) Burke's Peerage and Gentry, Wilmington, 2003
  5. ^ Hast, Adele (ed.) Company History: National Westminster Bank International Directory of Company Histories (vol.2) St. James Press, Chicago, 1988
  6. ^ History of Plastic Cards The Association for Payment Clearing Services, 9 January 2006
  7. ^ Srivastava, Lara and Mansell, Robin Electronic Cash and the Innovation Process: A User Paradigm Electronic Working Papers Series, no.23 (p.5) University of Sussex, Science Policy Research Unit, March 1998
  8. ^ See National Westminster Bank Plc and NatWest Australia Ltd. v the Commissioners of the State Bank of Victoria [1985] VSC 4148 (Unreported, Southwell J. 24 October 1985)
  9. ^ A short history of National Westminster Bank The Royal Bank of Scotland Group, 2005
  10. ^ International Westminster Bank Act 1989 (cap. 16); see International Westminster Bank The Royal Bank of Scotland Group, Archive Guide (retrieved 19 November 2007)
  11. ^ Famous tower sold for top price BBC News, 17 July 1998 19:59 BST
  12. ^ Pain, Steve British Land snaps up NatWest building The Birmingham Post, 17 January 2007
  13. ^ Stanley, Christopher Cultural Contradictions in the Legitimation of Market Practice: Paradox in the Regulation of the City in Budd, Leslie and Whimster, Sam (eds.) Global Finance and Urban Living: A Study of Metropolitan Change (pp.158-160) Routledge, London, 1992
  14. ^ National Westminster Bank loses fight for independence BBC World Service, broadcast 25 February 2000
  15. ^ De Baróid, Ciarán Ballymurphy and the Irish War (p.325) Pluto Press, London, 2000
  16. ^ Wolfe, Eric Case Study: NatWest Markets BancWare ERisk, October 2001
  17. ^ SFA Disciplines NatWest and Two Individuals Financial Services Authority, 18 May 2000
  18. ^ Natwest Group Announces £1,011m Profit for 1997 PR Newswire Europe, 1998
  19. ^ Buckingham, Lisa et al. NatWest pounces on L&G with £11bn takeover bid The Guardian, 3 September 1999
  20. ^ Treanor, Jill and Buckingham, Lisa NatWest forced to defend merger The Guardian, 7 September 1999
  21. ^ NatWest rejects takeover bid Guardian Unlimited, 24 September 1999
  22. ^ Farrelly, Paul RBS issues ultimatum in £27bn bid for NatWest The Observer, 28 November 1999
  23. ^ Treanor, Jill NatWest runs up white flag The Guardian, 12 February 2000
  24. ^ NatWest takeover battle BBC News, 11 February 2000 09:53 GMT
  25. ^ DeCarlo, Scott (ed.) The World's 2,000 Largest Public Companies Forbes Magazine, Special Report, 29 March 2007
  26. ^ UK banks' £37bn bail-out unveiled BBC News, 13 October 2008 12:09 BST
  27. ^ Announcement on the APS and State Aid Discussions The Royal Bank of Scotland Group, Company Announcements, 3 November 2009
  28. ^ Scottish Branch Sale National Westminster Bank (retrieved 23 November 2009)
  29. ^ Dey, Iain RBS to relaunch historic Williams & Glyn's brand after 24 year absence The Sunday Times, 13 September 2009
  30. ^ Hosking, Patrick Williams & Glyn's bank could make comeback The Times, 15 September 2009
  31. ^ Kightly, Charles Enjoy Medieval Denbighshire (p.10) Denbighshire County Council, September 2007
  32. ^ Annual Report and Accounts 2006 Operating and financial review, Description of business (p.46) The Royal Bank of Scotland Group, 28 February 2007
  33. ^ Annual Report and Accounts 2006 Notes on the accounts (14) Investments in Group undertakings (p.32) National Westminster Bank, 28 March 2007
  34. ^ Incorporated with unlimited liability. Registered in England and Wales No. 36695. Authorised and regulated by the FSA, Register No. 122287
  35. ^ Incorporated in the State of Delaware, File No. 2075209. Registered in England and Wales No. FC015070
  36. ^ Registered in Northern Ireland No. R733. Authorised and regulated by the FSA, Register No. 122315
  37. ^ Annual Report and Accounts 2002 Report of the directors, Activities and business review (p.2) National Westminster Bank, 27 February 2003
  38. ^ Annual Report and Accounts 2005 Report of the directors, Activities and business review (p.2) National Westminster Bank, 29 March 2006
  39. ^ Annual Report and Accounts 2000 Report of the directors, Activities and business review (p.17) National Westminster Bank, 28 February 2001
  40. ^ NatWest Launches First Dedicated Polish Bank Account in Britain National Westminster Bank, Press Room, 15 January 2007
  41. ^ NatWest To Launch Mobile Banking Service National Westminster Bank, Press Room, 11 July 2005
  42. ^ Your Mortgage Magazine Awards 2006–2007 Your Mortgage Magazine, 9 February 2007
  43. ^ Royal Bank of Scotland Group and Mastercard Join Forces for London Roll-out of Contactless Debit and Credit Cards MasterCard Europe, Press Release 6, 4 May 2007
  44. ^ Osborne, Hilary Contactless payments point to cash-free future Guardian Unlimited, 4 September 2007
  45. ^ Bank issues net security device BBC News, 2 October 2007 13:38 BST
  46. ^ Welcome to Visa Debit National Westminster Bank (retrieved 23 November 2009)
  47. ^ Faster Payments - how long? BBC News, 24 May 2008 11:40 BST
  48. ^ RBS Launches RBS WorldPay brand The Royal Bank of Scotland, 18 April 2009
  49. ^ Entered in the Register under No. 121878
  50. ^ Registered in England and Wales No. 1449354. Authorised and regulated by the FSA, Register No. 313223
  51. ^ Registered in England and Wales No. 2668470. Authorised and regulated by the FSA, Register No. 155329
  52. ^ Registered in England and Wales No. 1959479. Authorised and regulated by the FSA, Register No. 124395
  53. ^ We are NatWest Intermediary Solutions NatWest Intermediary Solutions, Latest News, 19 January 2010
  54. ^ NatWest Three: the US indictment BBC News, 12 July 2006 22:51 BST
  55. ^ Randall, Jeff Natwest Three caught on extradition's one-way street The Daily Telegraph, 1 March 2006
  56. ^ Try Natwest three in UK - Tories BBC News, 6 July 2006 17:23 BST
  57. ^ Enron charge trio facing US trial BBC News, 24 May 2005 16:04 BST
  58. ^ King, Oliver Lib Dem leader joins bankers' extradition battle The Guardian, 4 July 2006
  59. ^ Stevenson, Tom Senior executives attack 'invidious, one-sided treaty' The Daily Telegraph, 6 July 2006
  60. ^ Clark, Andrew NatWest Three plead guilty to wire fraud Guardian Unlimited, 28 November 2007
  61. ^ NatWest Three face jail sentence BBC News, 29 November 2007 09:10 GMT
  62. ^ The Unfair Terms in Consumer Contracts Regulations 1999 (SI 1999/2083), implements Directive 93/13/EC (L95 OJ 29)
  63. ^ Collinson, Patrick Have you been stung by exorbitant bank charges? Guardian Unlimited, 20 February 2007
  64. ^ Results for the Half Year Ended 30 June 2007 Notes (6) Litigation (p.10) National Westminster Bank, 26 September 2007
  65. ^ The Office of Fair Trading v Abbey National Plc and seven others [2008] EWHC 875 (Comm); All ER (D) 349 (Apr)
  66. ^ Osborne, Hilary Bank charges ruling paves way for refunds The Guardian, 26 February 2009
  67. ^ Jones, Rupert Royal Bank of Scotland and NatWest cut overdraft charges The Guardian, 7 September 2009
  68. ^ Osborne, Hilary Bank charges appeal reaches House of Lords The Guardian, 23 June 2009

See also

External links








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