FAQs


We’re closing Bó.

We have made the decision to wind Bó down. Don’t worry, your account will continue to work, your money is safe and we will give you at least 60 days’ notice before we close your account. Until we close your account there will be no changes to Bó or how your account or card works day to day. If there’s anything we can help you with please contact our Support Team via the app or via email.


WINDING DOWN BÓ

What should I do with the money in my Bó account?

You can transfer your money out of your Bó account to another account, or spend your remaining balance via your Bó Visa debit card. You may also want to start using a different debit card for repeating payments.

Is my money still safe?

Yes. Any money in your Bó account is protected up to £85,000 (if you have accounts with both Bó and NatWest, the maximum you'd be able to claim across all accounts combined is £85,000).

How long before you close the account?

We will give you at least 60 days notice before we close your account but in the meantime you can move your money to another account, or keep using your Bó Visa card until your balance hits zero.

Will you still open new accounts?

No, we will not open any new Bó accounts.

What about the money in my Piggy Bank?

You will need to transfer this money back into your main Bó account, and then from here transfer it out of Bó into another account.

Will my Bó card still work?

Yes. Your account and card will continue to work, your money is safe and we will give you at least 60 days notice before we close your account.


ABOUT US

Is Bó a bank?

Yes, Bó is part of NatWest.

Is Bó part of the Financial Service Compensation Scheme?

Yes. The money in your Bó account is protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. If you have accounts with both Bó and NatWest, the maximum you'd be able to claim across all accounts combined is £85,000.

Is my data safe with Bó?

Yes. Keeping your personal data safe and secure is really important to us. We will never sell your data to a third party or spam you.

If you want to know more about how we store and use your information read our privacy policy.


USING MY ACCOUNT

How do I add money to my Bó account?

You can add money to your account by bank transfer from another account, though please check the bank you're sending money from is part of the UK Faster Payments scheme (most are).

How can I check my balance?

You can find your available balance on the app's home screen.

We always show your balance in real-time so you know exactly how much money you have.

Can I pay cash into Bó?

You can’t pay cash into your Bó account. However, if you deposit cash into another bank account you can then make a transfer into your Bó account.

Can I get my benefits paid into Bó?

Unfortunately, as benefits are mostly paid via the BACS system, you can’t have your benefits paid directly into Bó.

The good thing about Bó being a second current account, is that you can have your benefits paid into your main bank account and then transfer, what you have left after paying any bills, into your Bó account and then Bó can help keep track of your day to day spending.

Does Bó have fees?

Making cash withdrawals from ATMs in the UK, EU or anywhere else in the world is free when you use Bó. However, you may be charged by the cash machine’s operator.

If you lose or damage your card, we’ll replace it free of charge the first two times. But if you lose or damage it again before it naturally expires, we’ll charge you £5 each time to replace it.

If your card is stolen or you need the name changed (e.g. if you get married), we’ll always send you a new card free of charge.

Do I need to tell you when I go abroad?

No, you don't need to tell us, your card will work just fine overseas. You can use it anywhere you see the Visa logo.

We won't charge you extra for spending on your card overseas, you get the Visa exchange rate that we get.

Keep an eye out for additional charges when overseas. Some shops and restaurants offer dynamic currency conversion. This is where you can choose to pay in pounds, but it means the retailer's bank is doing the conversion, and it's often a very poor exchange rate.

You may also face additional fees at cash machines too. In some countries these are unavoidable, so it's best to try and minimise the number of cash withdrawals you make.

Are there any limits on how much money I can have in my account?

The maximum you can have in your Bó account is £20,000. The maximum you can have in your Piggy Bank is £20,000. The maximum payment you can make is £5,000 and the most you can spend on your card in one go is £3,000. You can withdraw up to £1,000 in cash on a 30-day rolling period following the date of your first withdrawal. The most that you can withdraw per day is £500.

How do I close my Bó account?

If you want to close your account, head to the 'Account' tab in the app, then select 'Your details'. Scroll all the way down until you see the 'Close account' button.

Can I get statements for a closed account?

Absolutely and it’s free of charge. You can request statements (transaction history) up to five years after closing your account. So, if you make the request four years after your account is closed, you’ll be able to get the transaction history for the last year that your account was open. Please email bosupport@natwest.com and tell us the sort code and account number of your closed account. You’ll also need to provide a copy of your ID (e.g. Driving License or Passport). We’ll send your transaction history to you by email as a PDF.

What’s the difference between BACS and Faster Payments?

BACS payments are an electronic system that makes payments from one bank account to another. They’re mainly used for Direct Debits and usually take around 3 working days to clear. Bó doesn’t currently support BACS payments but we are looking into introducing them in the future.

Faster Payments is a scheme in the UK that allows you to transfer money between bank accounts in typically a few seconds. Bó currently uses Faster Payments. This means that to add money to your account, you need to make a transfer from another bank account and it should arrive almost instantly into Bó.


YOUR DEBIT CARD

Is my card contactless?

Yes, your Bó debit card is fully contactless, plus you'll get instant alerts every time you spend. If it's the first time you're using the card or if you're spending more than £30, you'll need to use chip and PIN.

Where can I use my debit card?

You can use your card anywhere Visa is accepted: online, in shops and at cash machines in the UK and abroad.

How do I lock my card?

If you want to lock your card tap on the 'Account' tab, go to 'Card settings' and then press the 'Lock card' button.

My card's been stolen. What do I do?

Please cancel it immediately: go to the 'Account' tab, then 'Card settings' and follow the prompts. We'll make sure no one can spend on your old card, and send you a replacement.

If you don’t have access to the app, please click here to lock your card.

I've lost my card. What do I do?

If you’ve lost your card, you can lock it in app immediately. Go to the 'Account' tab, then 'Card settings' and follow the prompts (if it does turn up you can then unlock it again from the app).

I've lost my phone and card. What do I do?

If you’ve lost your phone and card, please click here to lock your card.

How do I change my PIN?

To change your PIN, you’ll have to do this at an ATM. You should have received the PIN automatically set up for you by Bó, via SMS (if you can’t find it, contact our Support Team via the app). Pop your Bó card into an ATM, input this PIN and then you should be able to change your PIN to any four digit code you wish. If you have any issues don’t hesitate to contact our Support Team in-app or via email.


OTHER QUESTIONS

How do I complain about Bó?

We're sorry that you've had a problem with Bó and we'll do everything we can to put it right. To complain, head to the 'Support' tab in the app and type 'I want to raise a complaint' in the chat.

How do I report a death?

Please accept our condolences on your loss. If you could email bobereavements@natwest.com with the account holder's name and address, we will make sure someone is in touch with you soon.

Bó is part of National Westminster Bank Plc (“NatWest”), registered in England and Wales (Registered Number 929027). Registered Office: 250 Bishopsgate, London, EC2M 4AA. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. NatWest is entered on the Financial Services Register and its Register number is 121878. The Financial Services Register can be accessed at www.fca.org.uk/register. NatWest's registered VAT number is GB 243852752.

Bó is protected by The Financial Services Compensation Scheme (FSCS). Read more here.

* If you have accounts with Bó and NatWest, the maximum you would be able to claim across all accounts combined is £85,000.

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