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.
Royal Bank of Scotland to be scaled down
This week will see plans unveiled for the substantial scaling down of the Royal Bank of Scotland banking operations. Over the next 3 to 5 years it is expected that 25% of the balance sheet will disappear as the group returns to basics for future stability. The banking operation will also see up to £300 billion of potentially toxic investments moved into its separate operation which will be wound...Read More
Is the building society sector slipping away?
Over the last few months the UK banking sector has grabbed the headlines although unfortunately we've also seen a number of casualties in the building society sector. Not only did we see former building society Northern Rock collapse and taken over by the government, we also saw problems at the Dunfermline building society and problems with the West Bromwich building society.
Brits 'relying on friends and family'
New research has suggested that many Britons are relying on their friends and family to help them cover their debts.According to figures from a YouGov survey, carried out on behalf of online payments company, PayPal, 48 per cent of the UK population have lent money to their friends and family in the last 12 months.The average amount that people in the UK have lent to friends and family in the last...Read More
Strapped students scrounge for freebies
The British Bankers Association (BBA) has said it is concerned that students looking to open a new bank account may be tempted by freebie offers when the overall service may not be suitable for them.As September sees the next generation of students entering universities, the BBA has said that students should be more cautious before being tempted to open an unsuitable account on the basis of free o...Read More
Bank tracking down 'dormant account' holders
Around 7,000 people have been identified by HSBC as holders of lost or forgotten-about accounts.The bank said that these customers had not touched their money in more than 15 years - and would now be contacted in order to reunite them with the funds.According to HSBC, 5,000 letters are to go out to dormant account holders immediately - with efforts being made to track down the further 2,000 curren...Read More