Raphaels Bank announces intention to close its retail savings division

9th October 2019

Raphaels Bank, as part of the continued reduction of its banking activities, has announced to its customers that it is closing its retail savings division.

 

All savings account holders have been given sixty days’ notice, in line with regulatory guidelines, of the bank’s intention to return their monies to them and close their accounts. All customers will receive their full interest entitlement up to the maturity of their investments. Every effort is being made to ensure that there will be no detriment to customers. Our customer support team, based in Aylesbury, will be available to answer any queries they might have.

 

The bank, at all times prior, during and after the completion of this process will continue to remain solvent and comply with its regulatory requirements. Our regulators, the PRA and FCA, have been notified of our decision to close the division.

 

We would like to thank all our customers for their loyalty and trust over many years. It has been a pleasure and honour to be of service to them.

 

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