Transfer of Business
TRANSFER OF THE BANKING BUSINESS OF DIRECT LINE FINANCIAL SERVICES LIMITED TO THE ROYAL BANK OF SCOTLAND PLC
As part of an internal reorganisation being undertaken by the Royal Bank of Scotland group of companies, of which both Direct Line Financial Services Limited (DLFS) and The Royal Bank of Scotland plc (RBS) are members, the business of DLFS (including all DLFS personal loans, mortgages and savings accounts (“Accounts) has been transferred to its parent company RBS. RBS is also authorised and regulated by the Financial Services Authority.
The transfer of the business of DLFS has been accomplished through a banking business transfer scheme under Part VII of the Financial Services and Markets Act 2000. This is the legal process in the UK for the transfer of banking businesses from one company to another. Under the Scheme, all Accounts held with DLFS have been transferred to RBS.
The Scheme was approved by the Court of Session in Edinburgh (the Court) and took effect at 00.01am on 1 March 2006. Other than this, there are no changes to the terms and conditions of any Accounts because of the transfer.
We’re writing to all of our customers to inform them about the transfer of their Account(s) to RBS.
For more information please see the frequently asked questions we’ve prepared for our customers:
For further enquiries about this transfer, please call us between 9am - 5pm Monday to Friday on the following numbers - 0845 300 5988 for Loans, 0845 300 5295 for Mortgages or 0845 300 1230 for Savings.
Calls may be recorded. Max call charge from a BT landline is 3p per minute. Calls from other networks may vary.