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.
Computer systems fail at Nationwide
Nationwide has become the latest financial organisation to suffer a system failure, which has meant customers are unable to access online banking as well as account details in branches. The building society has apologised to customers who have been affected and said it will look to sort the problem out as quickly as possible. This is not the first time that customers of Nationwide have had...Read More
Is the OFT giving up on the overdraft charge challenge?
The Office of Fair Trading (OFT) is expected to make an announcement tomorrow regarding the recent setback in the legal battle with UK banks about overdraft charges. While rumours in this particular case have been incorrect before, there is intense speculation that the OFT is about to drop its legal challenge and will not commit itself to an appeal. If the announcement confirms this particular...Read More
More hot air from the Treasury or the real deal?
As rumours circulate Whitehall that Alistair Darling and Lord Mandelson are preparing to call in the U.K.'s leading banks for a "chat" there are differing opinions on the likelihood of a successful outcome. The UK government has been particularly critical of the UK banking sector over the last few weeks and many believe that bad blood between the two parties could hinder tense negotiations.
Were the UK media reckless in reporting the banking crisis?
A number of leading figures in the UK media industry, including TV reporters and journalists, have been hauled before a MPs committee in the House of Commons to discuss whether the UK media was reckless in its coverage of the UK banking crisis. In what many are now claim to be yet another move against free speech, it would appear that the government has instigated something of a witchhunt against...Read More
Lloyds Bank announces Help to Buy mortgage product
02/01/2014 Lloyds bank has today announced that it is to become the latest mortgage provider to offer a product that allows prospective home owners to take advantage of the government led Help to Buy initiative. The banking group will therefore be allowing homebuyers the opportunity to apply for a mortgage with a 5% deposit as of Friday 3 January. The help to buy scheme, set up by the govern...Read More