Royal Bank of Scotland and Lloyds Bank will pull out of the country if Scots had voted YES to Independence

Had it been Scotland got Independence, RBS and Lloyds banking group will turn its back on their 300 year history with Britain

The historic banking group, which has been based north of the border for almost 300 years, will relocate to England should the independence campaign win the majority vote.

In a letter given to Scottish First Minister Alex Salmond, the bank's chief executive Ross McEwan outlined the proposal to register the bank's headquarters in England but confirmed there was no intention to move operations or jobs.

Speaking about the plans, the bank said that it would be "necessary to re-domicile the bank's holding company."

Mr Salmond said the letter had stated: "It is my view as chief executive that any decision to move our registered headquarters would have no impact on our everyday banking services used by our customers in Scotland.

"This is a technical procedure regarding the rotation of our registered head office based on our current strategy and business plan. It is not an intention to move operations or jobs."

Lloyds Banking Group, which includes Halifax and Bank of Scotland, is also set to legally register its home in England - the bank's headquarters is already established in London.