Bó (bank)
| Company type | Trading arm |
|---|---|
| Industry | Banking |
| Founded | November 27, 2019 |
| Defunct | May 1, 2020 |
| Fate | Ceased operations; employees reassigned to NatWest’s Mettle business banking division |
| Headquarters | London , United Kingdom |
Area served | United Kingdom |
Key people | Mark Bailie (CEO, until 2020) |
| Products | Digital banking services |
| Parent | National Westminster Bank (NatWest Group) |
Bó was a banking brand in the United Kingdom that operated between November 2019 and May 2020 as a trading arm of National Westminster Bank, which is part of the Royal Bank of Scotland Group (later renamed NatWest Group).
History
In March 2018, the Royal Bank of Scotland Group revealed its intention to introduce a digital banking brand designed to rival technology-driven challenger banks. The name Bó was disclosed in September 2018.
Following a beta phase involving RBS staff, Bó officially launched on 27 November 2019. The initiative involved an investment of approximately £100 million. Notably, the bank did not provide overdraft facilities or joint account options.
Mark Bailie, the CEO, departed from the company in 2020. On 1 May 2020, Bó declared it would cease operations, allowing its 11,413 account holders a 60-day period to access their funds. Employees were reassigned to NatWest’s Mettle business banking division.
Branding
The Bó identity was developed by Accenture Interactive. Although the term Bó holds no meaning in English, it is said to translate to "cow" in Irish and "to live" in Danish. The brand’s advertising tagline was "Do Money Better."
Bó’s debit cards were characterized by a unique yellow color and a vertical layout, showing only the bank and customer names on the card front. Essential information such as card number, sort code, account number, expiration dates, and CVC codes appeared on the backside.