Banking, businesses, Mortgages, general credit 🏦🛒

Banking, businesses, Mortgages, general credit 🏦🛒

All providers are ready and able to offer support to their customers who are impacted directly or indirectly 

asking for help early is key.

🏦 RBS Group, which is still 62% owned by the government and also includes NatWest and Ulster Bank, announced it will offer a three-month holiday on mortgage and loan repayment for customers affected by the outbreak. It will also allow customers to temporarily increase their credit card limit and access cash in fixed savings accounts with no early closure charges.

The bank is also offering to scrap fees on credit card cash advances and increase cash withdrawal limits up to £500.

🏦 Lloyds, which also owns Halifax, Bank of Scotland and credit card brand MBNA, is giving customers emergency access to fixed term savings accounts and is offering to defer loan and mortgage payments. The banking group is also waiving fees on missed credit card payments, and allowing customers to deposit larger cheques online through digital scanning, assuming they are not able to access its branches.

🏦 Metro Bank and Santander UK said they would assess requests on a case-by-case basis.

RBS, which is to be rebranded as NatWest later this year, announced it was putting aside £5bn to cover emergency loans and scrapped borrowing fees for small businesses that are starting to struggle as the virus continues to spread.

Lloyds said on Tuesday it was earmarking £2bn-worth of loans for small and medium-sized businesses affected by the outbreak, scrapping any resulting fees and considering repayment holidays for the worst-affected companies.