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.
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
Cashpoint heaven at Tesco
Visitors to a Tesco branch in Hounslow, Essex were this afternoon treated to a rare bonus when the Tesco cashpoint decided to double up on cash requests while only charging the original cash request. Due to "a rare operational error" the system had apparently malfunctioned and while it was only operational in this form for around 90 minutes a queue very quickly began to grow as word spread.
UK Banks £2 billion richer after UK Supreme Court ruling
It is believed that UK banks had put aside £2 billion to cover what would have been a massive compensation bill if the UK Supreme Court had ruled in favour of the Office of Fair Trading. However, as we covered in some of our earlier articles today, the UK Supreme Court has decided that the Office of Fair Trading does not have the jurisdiction to rule whether overdraft charges in the UK banking se...Read More
Building Society Association urges government to change regulations
In light of the £50 million deal between US private equity company JC Flowers and the Kent Reliance Building Society, the Building Society Association has today called upon the government to change the regulations which are stifling fundraising for building societies. Due to the mutual set-up of building societies they are unable to issue new shares, as UK banks and other financial companies can,...Read More
Lloyds Bank attracts record complaints
The Financial Ombudsman Service has today issued figures relating to complaints received about banks in the UK. In the final six months of 2009 the ombudsman received just over 20,000 complaints regarding Lloyds bank group, split between Lloyds bank and Bank of Scotland. Over the same period the Financial Ombudsman Service revealed that Barclays bank was second in the league table with nearly 11,0...Read More