Useful information for applicants

Private Bank Account



Your account transfer should take approximately 5 minutes to complete. You may need Adobe Reader to view some of these documents. Get Adobe Reader. Visit access.adobe.com.

Security

All information submitted during this application is protected by strong security techniques including 128-bit encryption.

Eligibility Criteria

To transfer your account online you must:

  • Be aged 18 or over and resident in the UK for tax purposes
  • Have an existing Royal Bank of Scotland Current Account (excluding Key Account)

Additional Eligibility Criteria

To be eligible for the Private Bank Account, you must also either:

  • earn over £75,000 per year or have savings greater than £50,000 or have a joint income of more than £100,000 per year.
    or
  • be an existing Private Banking customer.

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Statutory Status

The Royal Bank of Scotland plc is authorised and regulated by the Financial Services Authority and represents The Royal Bank of Scotland Marketing Group. The Bank is entered in the FSA's Register and its Register number is 121882. The FSA's Register can be accessed at www.fsa.gov.uk/register/. The Bank's registered VAT number is GB 243852752.

Financial Services Compensation Scheme

The Royal Bank of Scotland Plc is a member of the Financial Services Compensation Scheme established under the Financial Services and Market Act 2000. In respect of deposits with a UK office, payments under the Scheme are limited to 100% of the first £2,000 of a depositor's total deposits with the Bank and 90% of the next £33,000, resulting in a maximum payment of £31,700. Most depositors, including individuals and small firms, are covered. Deposits denominated in all currencies are treated alike. Further details of the scheme are available on request.

Complaints

If you are not satisfied with any of our products or services we have a complaint handling procedure that you can use to resolve such matters. A leaflet giving details of the procedure can be obtained from any of our branches or by telephoning us. We are a member of The Financial Ombudsman Service. If you are still not satisfied after following our 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 of our branches or by telephoning us. Alternatively you can write to: Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London, E14 9SR or telephone 0845 080 1800.

Cancellation Rights

If you are dissatisfied with your choice of account and decide to close the account or switch, with our approval, to another account within 14 days of the first payment into the account, no extra charges will be payable. In order to instruct us to do so, you must confirm your decision in writing, addressed to:

Glasgow CSC,
Upgrades,
FREEPOST SCO6044,
Glasgow,
G2 4WY.

Application Process

Once you have submitted your online application, we will then write to confirm we have received your upgrade request.

Declarations

  • I/we confirm that I/we have read and meet the eligibility criteria for the product I/we are applying for. (If you are already a RBS Private Banking customer, you are automatically eligible for this account)
  • I/we agree that I/we have read and are bound to the terms & conditions (PDF, 602KB) (602KB PDF) of the Private Bank Account.
  • I/we authorise you to convert my/our current account to a Private Bank Account
  • I/we have read the section 'Your Information' and agree that you can use the information we have submitted in this way
  • I/we have read the section Rates and Charges (PDF, 366KB) (366KB PDF) related to the account that I/we wish to apply for
  • I/We understand that if I/we are dissatisfied with my/our choice of account and decide to close the account or switch, with your approval, to another account within 14 days of the first payment into the account, no extra charges will be payable. I/We accept that to instruct you to do so, I/we must confirm my/our decision in writing, addressed to:

    Glasgow CSC,
    Upgrades,
    FREEPOST SCO6044,
    Glasgow,
    G2 4WY

Under the Distance Marketing Directive we are required to provide you in paper format with a range of information about our products and post account opening procedures. Given that this is an online application form, this written confirmation will be issued once your account has been upgraded as part of the Private Bank Account welcome pack. If you require full details in paper format prior to applying then please visit a branch.

I/we consent to receiving the above information in my/our welcome pack after my/our account has been upgraded.