HM Revenue and Customs is changing its bank from the Bank of England to the Royal Bank of Scotland after the Bank of England stated in 2004 that it wanted to move towards its core responsibilities and let go of the 'provisions of retail banking'. In a statement, HMRC said that the changes are unlikely to affect anyone and will be 'invisible' for most. This is to include those who pay direct debits on child benefit and tax credits. The change, which is to carry on for over a year will still allow those customers who pay HMRC by cheque to either the new or old bank account, however, these conditions do not apply to those who pay by BACS or CHAPS over the phone. The taxman advises that these customers will need to use the new sort code and bank account numbers as soon as possible. HMRC said that all payments made to the old or new accounts will still be acknowledged for over a year and whilst both accounts are open 'customers will not incur any delays, fines or penalties for using the old details'. On 6 April, HMRC is to make two new bank accounts valid with RBS, which will see the most recognised forms of tax such as self assessment, PAYE and corporation tax. Over two million customers will be informed by letter about the change and HMRC will also be using the internet and general awareness plans to communicate this change to the rest of their customers.