NatWest International recognises that the cashflow of small and medium sized businesses may be disrupted by the coronavirus and is committed to supporting viable businesses in continuing to trade while they implement their contingency plans. We would urge our customers to contact us early to discuss how we can help support them through the coming weeks. Customers look to their bank for help in times of financial difficulty and in this regard we will do all that is possible to support them appropriately through any period of disruption.
NatWest International is providing the following support package to Local Business and Commercial customers:
- Proactive outreach to those business customers that may be experiencing short-term trading issues due to coronavirus to ensure they are able to access the best possible range of support.
- Our team of Relationship Managers based in communities across our 4 jurisdictions will proactively speak to business customers offering help and support as they form their plans to mitigate the impact of coronavirus
- Granting of new or increased working capital facilities to support trading businesses that are seeing a lengthening of the order-to-cash cycle and a cost increase as a result of supply chain disruption
- Up to 6-month capital repayment holiday on variable rate lending
- Temporary emergency loans with no fees
- Continued work with the Government to understand the evolving impacts and appropriately support local businesses
We understand that some of our personal banking customers may be worried about the effect that contracting the coronavirus could have on their finances, for example due to a drop in income or because of unexpected expenses or bills to pay. We are ready and able to offer support to customers who are impacted directly or indirectly by coronavirus, which could include offering or increasing an overdraft or allowing repayment relief for loan or mortgage repayments: asking for help early is key.
We would encourage customers who think they may be affected to contact their provider as soon as possible to discuss the support available to them.
NatWest International is providing the following support package to Local Personal Customers:
- Proactive support to those customers that may be facing financial difficulty from the impacts of the virus – in Branch or on the phone
- Defer mortgage and loan repayments for up to three months
- Temporary emergency funding with no fees
- Increased cash withdrawal limit of up to £500
- Continued work with the Government to understand the evolving impacts and appropriately support our local customers
Ian Gorst,Jersey’s Minister for External Relations and Financial Services, said “I warmly welcome these new measures announced by NatWest International. This will support local businesses and islanders through any financial difficulties that they might be facing, and I encourage anyone affected to contact their bank to discuss the financial support available. Businesses and islanders can get further information at www.gov.je/coronavirus, and can contact the coronavirus helpline on 01534 445566.”