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Mondex was a smart card electronic cash system, implemented as a stored-value card and owned by Mastercard.. Pioneered by two bankers from NatWest in 1990, it was spun-off to a separate consortium later on, then sold to Mastercard.
Access was a British credit card brand launched by Lloyds Bank, Midland Bank and National Westminster Bank in 1972 to rival the already established Barclaycard. [1] The business operated from Southend-on-Sea, until 1989 when part of the business was transferred to Basildon.
More concerningly however, if a respond request is issued by a bank, using the sign mode with the same number and an amount of ¤0.00 will again generate a valid result which creates a possibility for a fraudster to instruct a customer to do a "test" challenge response for an amount of ¤0.00 which is in fact going to be used by the fraudster ...
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The 2012 RBS computer system problems were technical issues affecting computers run by the Royal Bank of Scotland Group (now NatWest Group), including National Westminster Bank, The Royal Bank of Scotland and Ulster Bank, which began on 19 June 2012. In 2014, RBS was fined £42m over the incident. [1]
In June 2024, NatWest announced it had agreed a deal to acquire the majority of Sainsbury's Bank. [55] [56] The deal will see the company acquire one million customers, £2.5 billion of customer assets and £2.6 billion of customer deposits. [55] NatWest will receive £125 million from the deal upon completion in the first half of 2025. [55]
In 1975, Lombank Canada became Lombard NatWest Canada Ltd. and the following year the share capital passed from Lombard North Central to National Westminster Bank and it was renamed NatWest Canada Limited. NatWest Canada carried on business in the corporate sector until 1982, dealing largely with multinational and large Canadian companies. [3]