Bo Bank was a branded bank that fell under the parent company National Westminster Bank, which later was renamed to NatWest Group. These fall under the Royal Bank of Scotland Group. This trading division operated from November 27, 2019 through May 1, 2020 when they closed their doors. During their operation, they provided retail banking and personal banking services. They were registered in England and Wales and regulated by FCA and PRA during operations. 

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Matt Crabtree
Senior Editor
Matt Crabtree
Matt Crabtree is a senior editor at CompareBanks. He has over 10 years experience in writing about all aspects of finance and is passionate about helping consumers make informed decisions about their money.
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Overview

First Glance

Bo Bank was a branded bank that fell under the parent company National Westminster Bank, which later was renamed to NatWest Group. These fall under the Royal Bank of Scotland Group. This trading division operated from November 27, 2019 through May 1, 2020 when they closed their doors. During their operation, they provided retail banking and personal banking services. They were registered in England and Wales and regulated by FCA and PRA during operations. 

Features

Contact Info

Bo Bank was a branded bank that fell under the parent company National Westminster Bank, which later was renamed to NatWest Group. These fall under the Royal Bank of Scotland Group. This trading division operated from November 27, 2019 through May 1, 2020 when they closed their doors. During their operation, they provided retail banking and personal banking services. They were registered in England and Wales and regulated by FCA and PRA during operations. 

Contact Info

While Bo Bank has since closed up shop, you can still make contact if needed. Contact options currently allow you to request a copy of data, get a copy of bank prior statements, or handle business if you still have money in your accounts. 

All accounts have since been closed, but these are your contact avenues. 

  • Data Requests: complete a Subject Access Request with NatWest through their online request process. 
  • Statement Copies: This would fall under a data request. Follow the step above to complete a request. 
  • Money Unaccounted For: Contact the NatWest Dormancy team via email bosupport@natwest.com or phone. Phone number is 0345 366 6594
  • Complaints: Reach out to NatWest via email bosupport@natwest.com 

Vital Information for Prior Customers

If you were a prior customer, and have concerns about automatic payments or deposits that you had setup, Bo still has answers to these questions on their website. They provide specific instruction for handling changes. 

By now, most customers have already made their updates, but there may still be some out there who need to know what to do for payments, deposits, their Bo card, and more that may have been tied to that account. 

With all accounts now being closed, you should have received final communications, emails, and final statements. Access to the Bo app has been terminated, so any inquiries or requests for data will need to be placed through NatWest as outlined above. 

About Bo Bank

Bo Bank was established in 2019, but the process began in 2018. The press leaked that the Royal Bank of Scotland Group was looking at a digital banking solution, which is exactly what Bo Bank was for the short time of its life. The official announcement came out in September 2018. 

For the next year, there were several testing phases, including a beta testing group that was employees of the RBS Group. After testing, they officially launched in November of 2019. The cost of development and testing was substantial for Bo Bank to be created. 

If you’re looking for the translation to Bo, it’s a bit challenging to translate. The closest translation is “to live”, which is Danish. The bank operated using the slogan “Do money better”. 

Anyone who knew of or used the brand would recognize the flagship black and yellow colors that they used. It was a completely digital bank, which means everything happened online or through a mobile app. 

Bo Bank Products and Services

Since everything was digital, all accounts at Bo Bank were tied to an app, and customers were provided yellow debit cards with black writing on them. 

The tools provided included money management, simple savings, and access to the debit card. There were no check or cash transactions available. 

These are the primary products and services customers had access to. 

  • Direct deposits
  • Direct withdrawals
  • Payments with debit card
  • Non-interest savings accounts
  • Simple digital access
  • Simple transactions
  • Money management tools
  • Electronic communication and data

Have a question about Bó?

Find answers in Q&As and ask your question

Is there a limit on the dollar amount that one can deposit at one time? — J. Zook

Is there a limit on the dollar amount that one can deposit at one time?
Bank Answer

Hi there – Bo is now closed. CompareBanks Team

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