In April 2021, we first announced our intention to transfer our banking and lending business to our sister company Coutts & Co. and committed to keeping you updated about the proposed transfer.
We are using a Banking Business Transfer Scheme, under Part VII of the Financial Services and Markets Act 2000.
This hub details the process, provides important documents about the transfer, and how you can object if you think you will be adversely impacted by the transfer. It also has answers to some questions you may have.
It will be updated regularly as we move through the legal process.
Latest update 17/03/2022:
We have been granted an order by the Court of Session in Edinburgh to notify our clients about the proposed transfer of Adam to Coutts.
We expect the decision to approve the transfer will take place at the Final Court Hearing on 31 May 2022.
If the transfer is approved, we expect it to take effect at 00:01am on 2 July 2022.

What is the proposal?
On 17 March 2022, we went to the court of session in Edinburgh to start the process to transfer Adam & Company's business to Coutts & Co.
If the court approves, when the transfer becomes effective, your account(s) will transfer to Coutts and you will be a client of Coutts.
You will continue to see the Adam & Company brand for a period of time after the transfer.

what this means for you?
It is very much ‘business as usual’ at Adam & Company. We want to reassure you that Coutts will continue to offer the same level of service that you enjoy today.
You should continue to use our services as normal through your private banker, Adam 24 and our digital services over the coming months. We will keep you informed about any changes in plenty of time before they take effect.
Looking to the future, Coutts offers an award-winning banking service including access to a new online banking service.
Coutts is proud of being a thriving and inclusive community for its clients and almost 330 years after being founded by a Scottish banker. We are excited to have opened Coutts’ first offices in Scotland in the Autumn of last year.

what happens next?
On 17 March 2022, the Court of Session granted us approval to write to our clients about the Transfer.
We are writing to all our clients to let them know what is happening, what it means for them and how they can make their views known if they believe they will be adversely affected by the proposed transfer.
SOME QUESTIONS YOU MAY HAVE ABOUT
THE PROPOSED TRANSFER
Court approval is required to enable us to make use of a Banking Business Transfer Scheme to smoothly transition the Adam & Company banking and lending business from the Royal Bank of Scotland plc legal entity to the Coutts & Co legal entity. This process requires a significant period of time to implement, due to the planning required, engagement with regulators and the Court process.
your banking and lending
-
Please select from our list of questions below
-
What is transferring under the Scheme?
-
Will there be any changes to my existing documentation?
-
Will my FSCS protection still cover me if I have deposits with RBS?
-
How is my Financial Services Compensation Scheme (FSCS) protection affected?
-
Will the implementation of the transfer have any tax implications?
We will not be re-issuing new documentation to you for existing products and services with us.
However, from the Effective Date, expected to be 2 July 2022, you will start to receive correspondence from us in the Coutts brand. You will see changes on the wording of our documentation from:
Adam & Company, a business name of The Royal Bank of Scotland plc. Registered in Scotland no. SCO083026. Registered Office 36 St Andrew Square, Edinburgh EH2 2YB. Financial Services Firm Reference Number 114724. The Royal Bank of Scotland plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
to:
Coutts & Company is registered in England No. 36695. Registered Office 440 Strand, London WC2R 0QS. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Firm Reference Number 122287. Registered VAT number: GB 243 852 752.
If you already have a Coutts account, the transfer may have an implication on your FSCS protection and you might want to consider taking action to protect it.
The FSCS compensates you if your UK authorised financial provider stops trading or becomes insolvent.
Your FSCS cover is for one allowance of £85,000 (or £170,000 for a joint account).
If the transfer goes ahead deposits currently held with Adam & Company, or Coutts, or both, will all be within one regulated bank, that is, Coutts. This means that you will then be covered by the FSCS in respect of Coutts only.
If, after the transfer, you will have deposits with Coutts that exceed the FSCS protection limit you can make withdrawals to reduce your deposits with Coutts either down to the FSCS coverage limit; or if before the transfer, you already had deposits with Coutts then you can reduce your deposits down to the level that you had with Coutts before the transfer; whichever of these is greater.
You can withdraw affected balances up to three months after the Effective Date, without penalty or loss of accrued interest.
If the proposed transfer is approved by the Court, you should note that as a consequence of the Transfer, your product(s) will be provided by Coutts - a company that, like Adam & Company, is resident for tax purposes in the United Kingdom. We’re unable to discuss the tax consequences for clients arising from the transfer.
If you are in any doubt as to your tax position or your tax reporting requirements, please consult your professional advisers regarding any possible tax consequences of the proposed transfer.
your personal data
Your personal data will be transferred to Coutts. Coutts will use your personal data in the same way and for the same purposes as Adam & Company held it. Any marketing consents that you gave regarding marketing activity carried by Adam & Company and/or the wider NatWest Group will continue as before.
If you would like to revisit your marketing preferences, please contact us on 08000 564 010.
For details on how Coutts will use your personal data please see their Privacy Notice at www.coutts.com/Privacy