4 minutes
A £275 million scheme to entice business banking customers to move their current accounts from the Royal Bank of Scotland to alternative lenders has fallen short of its target. The Incentivised Switching Scheme (ISS) was launched in 2018 under measures to boost competition in the banking marke
3 minutes
A scheme aimed at encouraging SMEs to switch from Royal Bank of Scotland to other lenders has been extended to help struggling firms during the coronavirus pandemic. The deadline for the Incentivised Switching Scheme (ISS) has been extended to the end of February 2021, whilst a further 200,000
1 minute
Nationwide Building Society has been awarded £50 million from Banking Competition Remedies to increase competition in small business banking. The Co-operative Bank and Investec Bank have also been awarded £15 million each to expand in the small business market.
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