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The Industry Sorting Code Directory (ISCD) is the definitive list of bank branches and sub branches in the United Kingdom. The directory is maintained by VocaLink on behalf of UK Payments Administration (formally APACS ).
The sort code is usually formatted as three pairs of numbers, for example 12-34-56. It identifies both the bank (in the first digit or the first two digits) and the branch where the account is held. [1] Sort codes are encoded into International Bank Account Numbers (IBANs) but are not encoded into Business Identifier Codes (BICs).
International Bank Account Numbers take the form GBxx NWBK ssss ssaa aaaa aa, where x refers to two check digits, s to the branch sort code and a to the individual account number. The Bank Identifier Code , or SWIFT code, for NatWest (and Isle of Man Bank) is NWBKGB2L (8 digits) or NWBKGB2Lxxx (11 digits).
National Westminster Bank USA, commonly known as NatWest USA, was a wholly owned subsidiary of National Westminster Bank in the United Kingdom from 1983 to 1996. Formed as the National Bank of North America in 1905, the U.S. retail banking operation was sold to Fleet Financial Group in 1996.
It is, for instance, wrong to say that the ranges 50–66 (former National Provincial and Westminster banks respectively) belong to RBS, as NatWest, although a member of the RBS Group since 2000, is a member of the CCCC in it's own right; while leaving the range beginning 01 (former District Bank) as NatWest.
The bank sort code must be specified for many business transactions in payment transactions (e.g. bank transfer). With the establishment of the Single Euro Payments Area (SEPA), which completely replaced the national payment systems from 1 February 2014, the bank codes in the participating countries were replaced by BIC (Business Identifier ...
The 2012 RBS computer system problems were technical issues affecting computers run by the Royal Bank of Scotland Group (now NatWest Group), including National Westminster Bank, The Royal Bank of Scotland and Ulster Bank, which began on 19 June 2012. In 2014, RBS was fined £42m over the incident. [1]
NatWest Markets Securities is a key subsidiary, operating in the United States. The Royal Bank of Scotland International, trading as NatWest International, RBS International, Coutts Crown Dependencies and Isle of Man Bank, is the offshore banking arm of NatWest Group. It provides a range of services to personal, business, commercial, corporate ...