NatWest links with European banks
British customers of NatWest will be able to obtain local banking services when they start a business in France or Germany. In return, NatWest will take on customers of the other banks when they start businesses in the UK.
The service will include multilingual liaison desks at NatWest in London and at the headquarters of the other two banks. Benefits are expected to include straightforward access to local borrowing and streamlined account opening procedures.
In a second co-operation move the three banks are also to start a cross- border service early next year for small payments. This is designed to meet tough criticism from the European Commission of the high costs and long delays in the present arrangements for making small payments around Europe, by companies and individuals.
The objective is to simplify payments by introducing fully automated processing with a direct interface to each country's clearing system. NatWest said customers would have certainty over pricing and timing.
Bernard Horne, chief executive of international businesses at NatWest, said there was no grand design behind the links with Commerzbank and Societe Generale, and it was not an attempt to build a European club of banks.
However, there may be other projects to come. 'We may do something in a third country, but there is nothing on the drawing board at the moment,' he said.
Mountain goats miraculously survive avalanche in the Alps
Skyfall's Ben Whishaw confirmed for Freddie Mercury film
A cautionary tale for ambitious would-be authors
Trenton Oldfield deportation: Boat Race protester allowed to stay in UK over fears his Indian wife would face racism in Australia
Sir Ian McKellen hits back at Damian Lewis' 'fruity actor' claims
Teenage girl convicted of robbery after taking pre-crime selfie wielding knife
Housing double whammy: A whole generation ‘won’t be able to buy or rent a home’
'I'm experiencing austerity as well', says Princess Michael of Kent
- 1 Gurdwaras-turned-food banks: Sikh temples are catering for rise in Britain’s hungry
- 2 TK Maxx and discount stores: If it looks too good to be true, it probably is
- 3 Teenage girl convicted of robbery after taking pre-crime selfie wielding knife
- 4 Government delays EU immigration report because it is too positive
- 5 'I'm experiencing austerity as well', says Princess Michael of Kent
- < Previous
- Next >
iJobs Money & Business
£75000 - £85000 per annum + attractive benefits: Pro-Recruitment Group: Senior...
£70000 - £80000 per annum + Commission Package: Harrington Starr: Due to winni...
£60000 per annum: Harrington Starr: Support Analyst (Back Office, CRM, Sharepo...
£65000 - £80000 per annum + Excellent Bonus, Package : Harrington Starr: Busin...