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.
UK authorities target Swiss account holders
HM Revenue and Customs has begun writing to taxpayers in the UK with bank accounts in Switzerland after receipt of a list of high net worth individuals with accounts at the Swiss division of HSBC. It is believed that the list was originally stolen by an employee of HSBC and passed to the French authorities who have subsequently forwarded a copy to the UK authorities. While there is no indicatio...Read More
Anglo Irish Bank raided by fraud squad
The Irish government is already reeling from a significant protest by the Irish population last week, which was attended by more than 100,000 people, but tonight saw the fraud squad raid the offices of Anglo Irish Bank (which was recently nationalised by the government). It is rumoured the raid is in connection with allegations of loans between various financial institutions and loans allocated to...Read More
Lloyds TSB launches 'Polish bank account'
Lloyds TSB has launched the first bank account in the UK aimed specifically at new arrivals to Britain.The bank says its Silver current account is "ideally suited" to economic migrants to the UK, especially the country's growing Polish community.The account's main selling point is a money transfer card that allows consumers to send money back home via a preloaded card that can then be used for cas...Read More
Virgin Money announces acquisition of Church House Trust
Despite intense speculation that Virgin Money had already agreed a deal with the UK government for the acquisition of Northern Rock, the company has today surprised the markets with the purchase of Church House Trust, a small regional bank, for an initial outlay of £12.3 million. While this is obviously tiny compared to the likes of Northern Rock and other UK banking institutions, it does secure...Read More
Is It Safe To Keep All Of Your Assets With One Bank?
As the debacle about ISA transfers rages on, the Bradford and Bingley continues to come under pressure and smaller financial companies start to feel the strain, is it really safe to keep all of your assets with one bank? Or will you need to pay a little more for the comfort of knowing that your assets are safely spread?
There is no doubt that the UK banking and finance sector has co...