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Williams & Glyn scrapped.
Paul_1977
Posts: 992 Forumite
RBS also called off the plan to establish Williams & Glyn as a standalone bank, scrapping the idea of floating it as an independent lender and instead reverting to an older plan to sell it to another bank.
http://www.telegraph.co.uk/business/2016/08/05/rbs-cancels-williams--glyn-project-and-loses-another-2bn/
Looks like its going to Santander.
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Comments
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Yes, not a bad outcome I'd have thought.
The old Williams and Lyn brand was regional and focused on sme business, a bit more competition for the old bug four in this market is probably a good thing.
Still ridiculous that rbs is in this state after a decade, it's a form of corporate vandalism, and yet again no one responsible in a management is really held to account.
Similar things might have happened in the us but there are at least consequences to actions there.0 -
I use to bank with them when they were in Reading. This was back in the 70's - 80's period. They were very good for personal accounts but unfortunately the branch got closed down and the rest is history.0
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The amount of money wasted on this is absolutely scandalous.0
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What a waste of money but im sure Ross McEwan will get a big bonusWhat happens if you push this button?0
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I'm confused... Does this mean that RBS England and Wales accounts will literally be turned into whichever bank buys them? Or will the accounts still become the brand of Williams and Glynn ?0
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From what I've read branches in England and Wales will become NatWest.It's not your credit score that counts, it's your credit history. Any replies are my own personal opinion and not a representation of my employer.0
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No confusion necessary. The plan was to rebrand and sell/float the new brand and branches.
The new plan is to sell the branches to another bank and the new bank will rebrand them to theirs (which was the original plan with the sales to Santander).
All England & Wales branches but Holts, Drummonds and Child & co should be sold off, with no conversion to Natwest0 -
ok... i see... will your 'internal score' remain? because i have a contactless card with rbs which is offline and i wish to be able to still have this when the transfer happens. wish theyd just convert it all to natwest though!0
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You'll get whatever 'score' whoever buys you gives you.
Why don't you transfer to NatWest if that is what you want?debtorwithaquestion wrote: »ok... i see... will your 'internal score' remain? because i have a contactless card with rbs which is offline and i wish to be able to still have this when the transfer happens. wish theyd just convert it all to natwest though!This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
Have a select acct with RBS but NatWest won't give me an acct due to bankruptcy and I want the contactless card. Plus NatWest branches are cool.
RBS say they can't transfer my acct to NatWest without opening a brand new account0
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