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.
Gordon Brown steps into bank overdraft saga
Whether Gordon Brown is just looking to prompt the endgame to what has become a long-running saga or looking to curry favour with UK investors is open to debate, but his statement that UK banks need to negotiate a solution to the overdraft charge court case has been welcomed across the board. This is the first time that Gordon Brown has actually commented on the issue and his suggestion that the i...Read More
Is the government set to remutualise Northern Rock?
The Building Societies Association has today issued a report suggesting that the UK government should remutualise Northern Rock to prevent a repeat of the company's collapse in the future. There is also feeling that if this were to occur it would highlight the mutual sector again and potentially inject more confidence into a sector which has been battered by the recession and various financial dif...Read More
Are UK base rates set to fall further?
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FSA defends actions over Dunfermline Building Society debacle
While the FSA has again come in for significant criticism with regards to its handling of the Dunfermline Building Society break up and take over, the authority has defended its actions on all counts. In a surprise move it was revealed that the FSA has been monitoring the commercial loan book of the Dunfermline Building Society since 2005 when concerns were first raised.
Those who f...
FCA to change savings account market
20/01/2015 The Financial Conduct Authority has found that competition in savings accounts does not work out well for customers, particularly those with long-standing accounts. The regulator believes it should be easier for consumers to compare cash savings accounts and then switch providers if they choose. They have found that consumers often find it difficult to find out what interest rate...Read More