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.
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Despite the fact that the UK government, and indirectly UK taxpayers, have significant stakes in Royal Bank of Scotland, Lloyds bank, Northern Rock and the "bad bank" of Bradford and Bingley the UK government has no direct control over these operations. While on the surface these may seem like state-run banks they are effectively banks run at an arms length distance from the UK government - which...Read More
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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
Was the FSA warned about the management of Icelandic banks trading in the UK?
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Did you know 29% of partners still maintain financial independence?
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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