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.
Alliance & Leicester restructures fees
Alliance & Leicester has announced that it will no longer charge interest on overdrafts run up by its current account customers, as part of wider plans to simplify its charges.Daily fees will be introduced instead, with customers now paying 50p a day, up to a maximum of £5 a month on overdrafts of any size, instead of the interest of between six and 17 per cent previously paid.Under the new tarif...Read More
Are The Banks Choking The Buy To Let Sector?
News that the number of mortgages approved in the buy to let sector fell by almost 20% in the first six months of 2008 has not gone down well with landlords around the country. During the good times the banks were literally falling over themselves to support the sector - with heavy asset backing available to cover loans - but now house prices are falling and some tenants are suffering we are seein...Read More
How has the Cheltenham and Gloucester fared so badly?
As many workers around the UK come to terms with the fact that the Cheltenham and Gloucester brand-name will be no more there is growing anger in the financial sector. Cheltenham and Gloucester is a financial institution which has been around for over 150 years and, until it came under the control of Lloyds bank, seemed set to prosper in the future. So what has exactly happened to the Cheltenham a...Read More
Santander launches fee-free bank account
Santander, the Spanish financial giant which owns the likes of Abbey and Alliance & Leicester, has today announced plans for a fee-free bank account which will go on general release in the UK in 2010. Under the terms of the account, holders will not be charged any fees on authorised or unauthorised overdrafts although they will still incur a pre-agreed interest rate which will start at 12.9%. Even...Read More
Consumers pushing for green finances
Financial institutions would do well to offer customers environmentally-friendly products according to the Co-operative Bank, as ethical spenders are becoming more commonplace.Natalie Collins, public relations officer for the Co-op, said banks were currently offereing more green products and those that help with climate change, explaining "It's all due to customer demand."Ms Collins said that her...Read More