Alison Rose, CEO, RBS

The move will mean that from next Friday, donations to the NET made by Reward Account customers via their Reward account balance, will be topped up on a matched basis up to £5m until the end of June

Reward account customers accrue a balance of Rewards which are earned by holding two or more direct debits as well as cashback on certain types of spending. These can be redeemed as cash or donated, and the move by Royal Bank of Scotland is aimed at unlocking these unused rewards to support the fight against coronavirus.

Alison Rose, CEO, Royal Bank of Scotland, said: “We are continuing to support people, communities and businesses across the UK and are proud to stand shoulder-to-shoulder with our customers to support the organisations that are helping to manage the impacts of coronavirus.

“This move is absolutely aligned to our purpose and will provide much-needed funding to frontline services. We are continuously looking at ways that we can enhance our support.”

Royal Bank of Scotland has put in place a broad package of support for its customers to help manage the impact of coronavirus, including ensuring that all customers will pay less for their overdraft for the next three months and providing dedicated contact lines for NHS workers, those over 70 and those in extended isolation.

John Herriman, chief executive of the National Emergencies Trust, added: “We’re incredibly grateful for the generous donation from NatWest. Thanks to the efforts of early leaders like NatWest, businesses, charitable trusts and the public, we have now raised an incredible £11m in our first week for our Coronavirus Appeal.

“The money raised is already making its way out to local grassroots organisations and small charities to provide vital support to those who need it most, as quickly as possible. Together we can make a real difference to the people most impacted by this crisis.”

The money will be going directly towards the NET coronavirus fundraising appeal. The appeal will be run by the British Red Cross, on behalf of the NET. The British Red Cross is working with the NET to make it simple and easy for people to give.

The British Red Cross will transfer funds to the NET, who will work with UK Community Foundations. Each of the 46 community foundations have an in-depth understanding of their local area, what the priority needs are and how best to address these issues, so they can ensure the funding goes where it is most needed and can make the most impact.

Read all of our articles relating to COVID-19 here.