Royal Bank of Scotland issues customer charter
In a bid to try and regain the trust of the UK public Royal Bank of Scotland has today issued a 14 point customer charter. While the charter contains a number of relevant and interesting points it is the promise that where Royal Bank of Scotland is the "last bank in town" it will ensure that the operation remains open thereby ensuring banking facilities for people in the area.
Amongst the other pledges issued today is a promise are at least 200 branches will open earlier through the week and close later on weekends with more branches set to open on Saturdays. Custom waiting times will also be addressed within branches, as well as annual reviews for customers, an early warning system for customers facing financial difficulties and more focus on customer services and customer requirements.
This would appear to be stage one of a fightback by the UK banking industry after a period when the sector has been tarred as the "devil incarnate" but as we have seen before, the proof is in the pudding. It will take some time to regain the trust of customers in the UK who never for a second believed that the UK banking system could ever have been on the verge of collapse.
Virgin applies for banking licence in UK
Virgin Money, Richard Branson's Virgin finance offshoot, has today confirmed it has applied for a UK banking licence with the Financial Services Authority (FSA). While this is not a surprise, when you bear in mind that Virgin Money had been on the verge of acquiring Northern Rock before the UK government stepped in, it has set the rumour mill rolling again in the city.
It comes at a...
Royal Bank of Scotland customers in dilemma
As Santander gets ready to bring on board up to 2 million new customers from the takeover of the Royal Bank of Scotland and NatWest high street banking outlets the BBC has reported that Royal Bank of Scotland customers can still remain with the bank if they so wish. Under the terms of the Santander takeover of the various banking outlets, Royal Bank of Scotland is not able to encourage customers t...Read More
Is there a gap in the market for a long-term state-controlled bank?
While you could argue that the likes of Royal Bank of Scotland, Northern Rock and Lloyds Bank are effectively state-controlled at this moment in time, although they will be sold off in due close, an interesting discussion is formulating in the investment arena. With the mainstream UK banks unwilling at this moment in time to increase liquidity, especially for the small business arena, is there a g...Read More
Bank Of England Leave Rates Unchanged
News that the Bank of England has left interest rates on hold this month has received a muted response from the financial markets. While many had expected rates to remain unchanged there was a feeling that they could rise to combat inflation or fall to revive the economy. As it happens the Bank of England has again sat on the fence waiting to see if inflation falls of its own accord over the com...Read More
More than a third of Brits bank online
A decade after the advent of internet banking, a report from Nationwide shows that 37 per cent of British people now manage their money online. Half of those who bank online said it was easy and 53 per cent said they found it convenient. One user in nine accesses internet banking as they can not always get to their local branch and one in 25 preferred the paperless process. Over half of online ban...Read More