Ring-fencing is a law that requires the larger UK banks to separate their everyday retail banking services from investment banking services.
It was introduced in January 2019, and was designed to make banking safer and help protect the UK economy.
The NatWest Group retail bank is therefore ring-fenced, and NatWest Markets operates as a non ring-fenced bank.
You can find out more in our ring-fencing customer guide or on the NatWest Group ring-fencing pages.