One Account rates cut

tajima1

inandoutagain wrote: »

I have lodged an official complaint with One Account because they are refusing to pass on the 1.50% rate reduction let alone a previous 0.25% reduction. They have rejected my complaint. I have now lodged an appeal with the Finanncial Ombudsman, but have also written to the Prime Minister, the Bank of England Governor, the Chairman of RBS and the money pages of the newspapers etc to point out that this RBS company has reneged on its promise to pass on interest rate reductions. I urge all One Account customers to do the same. The money saved in mortgage payments is more likely to be recirculated in the economy than a small 2.5% VAT reduction! Their discrimination is especially offensive considering how much of our taxpayer's money has been given to save their incompetent and greedy skins! Don't sit back, raise the roof!

Hear hear!! You are absolutely spot on. Its no good just dripping away here. Everyone must forward the link to this thread and a strongly worded condemnation of RBS/Oneaccount to every financial media source they can think of. Encourage everyone you know with one of these accounts to do the same. It is essential that the duplicity of RBS is outed in the public arena. I am now absolutely raging with these bandits! 18500 views and still rising. Lets see how long they can go on ignoring us.

:mad::mad::mad::mad:

JGP

DickDastardly wrote: »

That's what I am saying the comparable FD mortgage is not available and the link in your post is a dead page. Too late now methinks!

Sorry - not sure what happened there!

Is this better:

http://www.firstdirect.com/base_rate_faqs.shtml?WT.ac=FSDT_HS_OM0422

Certainly does show a rate reduction BUT maybe my IT skills aren't up to it - I am a Doctor not an IT bod!

Bottom line is we are being let down by our lender - time to change. I see no excuses for waiting for next week - jam tomorrow never comes.

tajima1

Here you go folks. Complain with an email addressed to this lot for starters:

[EMAIL="letters@dailymail.co.uk"]letters@dailymail.co.uk[/EMAIL]
[EMAIL="news@dailymail.co.uk"]news@dailymail.co.uk[/EMAIL]
[EMAIL="news.desk@express.co.uk"]news.desk@express.co.uk[/EMAIL]
[EMAIL="web.help@express.co.uk"]web.help@express.co.uk[/EMAIL]
[EMAIL="dtletters@telegraph.co.uk"]dtletters@telegraph.co.uk[/EMAIL]
[EMAIL="fte.subs@ft.com"]fte.subs@ft.com[/EMAIL]
[EMAIL="weekend.money@thetimes.co.uk"]weekend.money@thetimes.co.uk[/EMAIL]
[EMAIL="business@thetimes.co.uk"]business@thetimes.co.uk[/EMAIL]
[EMAIL="letters@thetimes.co.uk"]letters@thetimes.co.uk[/EMAIL]
[EMAIL="letters@guardian.co.uk"]letters@guardian.co.uk[/EMAIL]
[EMAIL="letters@observer.co.uk"]letters@observer.co.uk[/EMAIL]
[EMAIL="talkback@the-sun.co.uk"]talkback@the-sun.co.uk[/EMAIL]
[EMAIL="mirrornews@mirror.co.uk"]mirrornews@mirror.co.uk[/EMAIL]

gill5blue

views now 18571
Can someone contact Martin Lewis I too am OUTRAGED
maybe we can reclaim the interest with interest
One account need sto be named and shamed in the media
Does anyone have links to the papers or MPs
Gill5blue

apap

Have you noticed, there is no more interest rate news on the media or TV.

Maybe this interest rate cut and goverment's so called action to force the banks to reduce their interest rate was no more then to gain political advantage rather then helping people.

How do we know that A.Darling have not actually told the head of banks that they need to be seem to be doing something rather then doing something!!!!!

I have also written to the treasury and the BBC but no body seem to be interested on this issue.

i think we need alot of people to complain and at the moment it does not seem to be happening.

MrMepsiPax

I've spoken to a friend of mine who is an IFA, and he raised a very interesting point. If the OneAccount don't reduce their rates, they'll seem a very unattractive option when compared to other lenders. It makes no sense for them to keep their rates significantly higher than others in the marketplace.

chickenlegz

MrMepsiPax wrote: »

I've spoken to a friend of mine who is an IFA, and he raised a very interesting point. If the OneAccount don't reduce their rates, they'll seem a very unattractive option when compared to other lenders. It makes no sense for them to keep their rates significantly higher than others in the marketplace.

Im no accountant , or pretend to be , but what if the whole offset mortgage thing is now a bit of a dead duck and no longer a viable means of income for RBS , and by hacking everyone off so they change saves them a whole lot of work in the long run ?

itsjustjoe2

Old_Greg wrote: »

I've checked my ts&cs and I can't find this anywhere. Where does it say the rate is linked to RBS SVR? If this is true they are bang out of order and have to pass it on, but I was resigned to the rate not being linked to anything and RBS being free to do whatever they want.

Right... I found in my KeyFacts document from my broker that this was linked to some form of RBS rate.

"Mortgage Lender: RBS Intermediary Partners The One Account of Royal Bank of Scotland
Product: Disc 0.81% for 12mths Flexi
A variable rate currently 7.30%, with a discount of 0.81% for 1 year, giving a
current rate payable of 6.49%.
After 1 year RBS Intermediary Partners The One Account's Standard Variable Rate,
currently 7.30%, for the remaining term of the mortgage."

I am going to put a copy of the letter I send, less my personal details on here for anyone to copy. The easier we make it for people the more people will complain and the more chance it will get highlighted.

I will write to as many news papers as I can get the contact detiails for, BBC Watchdog, the FSA, Chancellor and my local MP. You can find your MP on http://www.writetothem.com/ a website I have used before to get help from my MP.

If this could be raised in parliament as a parliamentary question, ideally by the opposition to highlight the governments failure to look after bank customers of a subsiduary of RBS where the government is the largest shareholder... This will then certainly get picked up by the press and should cause sufficient pressure to have the rate lowered.

BUT IF THEY CAN GET AWAY WITH IT AND CONTINUE TO OVERCHARGE US, THEY WILL!

karanda

tajima1 wrote: »

Here you go folks. Complain with an email addressed to this lot for starters:

[EMAIL="letters@dailymail.co.uk"]letters@dailymail.co.uk[/EMAIL]
[EMAIL="news@dailymail.co.uk"]news@dailymail.co.uk[/EMAIL]
[EMAIL="news.desk@express.co.uk"]news.desk@express.co.uk[/EMAIL]
[EMAIL="web.help@express.co.uk"]web.help@express.co.uk[/EMAIL]
[EMAIL="dtletters@telegraph.co.uk"]dtletters@telegraph.co.uk[/EMAIL]
[EMAIL="fte.subs@ft.com"]fte.subs@ft.com[/EMAIL]
[EMAIL="weekend.money@thetimes.co.uk"]weekend.money@thetimes.co.uk[/EMAIL]
[EMAIL="business@thetimes.co.uk"]business@thetimes.co.uk[/EMAIL]
[EMAIL="letters@thetimes.co.uk"]letters@thetimes.co.uk[/EMAIL]
[EMAIL="letters@guardian.co.uk"]letters@guardian.co.uk[/EMAIL]
[EMAIL="letters@observer.co.uk"]letters@observer.co.uk[/EMAIL]
[EMAIL="talkback@the-sun.co.uk"]talkback@the-sun.co.uk[/EMAIL]
[EMAIL="mirrornews@mirror.co.uk"]mirrornews@mirror.co.uk[/EMAIL]

This is very helpful. I think this has to be part of a process of complaining first in writing to The One Account, then in writing to the Financial Ombudsman, your local MP, Darling etc etc.

I am extremely surprised that Martin Lewis hasn't picked up on this example of massive mis-selling by RBS. This has to be the worst run bank of all time, in terms of customer relationships. The way RBS has mis-handled it's One Account Customer base has dragged the whole RBS brand and reputation (whats left of it) through the mud. No one in their right mind will ever buy products from this lot again. Hasn't anyone ever told them it's the way problems are handled that people remember most, not the problem itself?

iain1970

itsjustjoe2 wrote: »

After 1 year RBS Intermediary Partners The One Account's Standard Variable Rate,
currently 7.30%, for the remaining term of the mortgage."

I'm on the RBOS Offset. The wording is much the same, the rates for that, existing CAM and One account have been the same pretty much all the time.

The One Account SVR is not based on the BoE base rate - RBS Marketing set it at what they want. It's our tough luch that they choose to delay any decreases by one month if they are passed on at all.

Yesterday, I asked in RBS branch where the list of interest rates was so that I could check my Offset mortgage rate and savings rates. The Manager told me they were being rejigged for the start of December. We'll see...