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.
Confusion and disagreement on UK bank split
Despite the fact that the UK government and the Bank of England appear in favour of spitting UK banks into smaller more competitive components, Lord Adair Turner, the chairman of the Financial Services Authority (FSA), has today issued his opinion on the subject. He believes that by detaching the more stable elements of the UK banking sector from the "Casino institutions" we could well be injectin...Read More
Move against building societies grows with news of payoffs
For many years the building society sector has been seen to be the consumer's friend and a lot less aggressive than the leading UK banks. However, after the events of the last 7 days, which saw the Nationwide Building Society step in to rescue the Derbyshire and Cheshire building societies from collapse, the mood is starting to changes.
Apart from the matter of many investors havin...
Sir Fred Goodwin's home attacked overnight
As the hate campaign towards Sir Fred Goodwin, the ex-chief executive of the Royal Bank of Scotland, continues it has been revealed that the ex-banking chief's home was vandalised overnight. A number of windows were smashed and a car was vandalised and police are currently investigating who carried out his actions. It has also been revealed that Sir Fred Goodwin's children were taken out of their...Read More
Could UK banking reforms backfire on consumers?
The influential Treasury Select committee has today reiterated its call for a radical reform of the UK banking system to prevent similar bailouts in the future. This comes despite the fact that the credit crunch, which eventually led to the worldwide recession, is an event which has only happened on a similar scale once in the last 100 years. There are also concerns that moves to reform the UK ban...Read More
Banks 1, Consumers 0
It has been revealed that the Office of Fair Trading (OFT) has today dropped its case against UK banks and the overdraft charges incurred by many UK banking customers. After a long battle with the UK banking industry it would appear that the Supreme Court ruling earlier this year has curtailed any chance of large-scale compensation for UK consumers caught up in the overdraft charges saga. So what...Read More