One Account rates cut

Insider_knowledge

I have written to the business editor at the Guardian, pointing out the bare faced lie from RBS. Hope he reads it...

Insider_knowledge

Can anyone comment on this at the BBC, I can't as I posted a comment questioning the License fee and was barred, great eh?
I am going to post anywhere else I can, FT, Telegraph, Times, current.com etc

Juno_Moneta

Anyone got an email address for Richard Branson at the Virgin group?

RBS want to dispose of assets right?

Tesco bought out the RBS share of the personal finance product.

So how about Virgin buying back One?

BRING BACK BRANSON!!!

Poj

Already tried writing to Virgin, got this reply:

Thank you for contacting Virgin Money.

Clearly, it is difficult for us to comment on RBS's approach with the One
account since, as you know, the business was sold to RBS back in 2001.

Thanks for your thought though, it is much appreciated

Kind regards,

Chrissie Madden
Virgin Money


Don't think they're too interested...

Insider_knowledge

Posted this on the FT site:
RBS have not passed on the 1.5% cut they said they would, they stated they would pass on the cuts “In full and promptly” but as per the story in the Guardian today, this is a barefaced lie.
RBS’s response quoted in the Guardian is grossly misleading:
“A spokeswoman said One account holders had benefited from a half-point cut effective last month.”
That 0.5% reduction (on 3rd Nov) passed on the previous base rate cut (from 5.0% to 4.5% on 8th Oct).
It had nothing to do with the 1.5% base rate cut (which happened on 6th Nov).
RBS obviously knows those dates, so how dare they put up the other 0.5% as justification?
As the government now owns 58% of RBS they are responsible for this lie.

Northern_Troll

Insider_knowledge wrote: »

I just spent 20 min waiting for them to answer my call. I was reviewing my account statements, from 20/10/08 to the 02/11/08 I was paying 6.70% on a less than 75% LTV mortgage (it had been 6.45 previously), then from 03/11/08 I was paying 6.20% same LTV.
I have no idea why it went up for that period, I am well ahead of my guide.
So I should now be paying 5.20%? and possible 4.20% in January if they apply today's cut in full?
I am really frustrated about this, my loan has not increased since I opened the account, just my rate seems to fluctuate.
Argghhhh ;(

My first addition to the site, but would like to comment on the poor communication from The One Account.

Having seen the 1.0% deduction in The Guardian article I too was disgruntled because I have not been notified that it had been applied to my One Account. On checking my last statement this clearly shows that my rate had been reduced on 3rd Novemeber by 0.5% to 6.20% (the earlier reduction) - when I logged on to my on-line account my interest rate now reads 5.20%, so I have at last received a 1.0% reduction (but this has not yet been communicated to me by the bank).

Happy to receive this reduction, but still totally fed up with The One Account. As a high rate tax payer, with at least part ownership of the 58% Government stake in RBS, I still am paying a full 1.0% above what I could have expected to pay when I took out the account. I base this on:

1. A previous 0.25% BoE reduction not passed on
2. A equal, but opposite unilateral RBS increase of 0.25% at that time
3. The remaining 0.5% not passed on from the Nov BoE reduction

This will, no doubt, increase later today, when any further BoE reductions are not passed on to One Account holders.

RCG99

Juno_Moneta wrote: »

HBOS have just confirmed they will pass on any cut today in full

We're staring down the barrel of another month of "under review" messages from the muppets at One Account call centre.
Best to get a fixed deal once rates have bottomed out. Good riddance OA!

Juno_Moneta

'Under review' for yet another month will be agony for customers and painful for One call centre staff.

One need to surprise us with a quick decision and gain some good PR.

Hope they are reading this!

Insider_knowledge

As "Flash the cash" Gordon and "Deflation Darling" has bought us 58% of RBSG, and the spokeswoman for RBSG is lying to the press, barefacedly, then the government is responsible for this lie.
The government now employ this woman. They are responsible for what she says to the press.
I know they are prone to misleading us, but they should be pulled up on this.
If we don't get a handle on the Neo Labour party now, and demand accountability all will be lost.
In America they got to vote in the Senate on whether they passed the bailout, here it is just done and we are told after the fact...
As a voter and tax payer I want my interest rate cut, in full, byy 1.5% plus today cut. We Brits don't usually kick up a fuss like our continental cousins, but these are desperate times.
We have anti terror cops raiding the parliament, the leader of the house (her sister passed her confidential info, yes?) refusing to stand by Mr (what constitution) Martin, Mr Martin blaming the sergeant at arms, the treasury borrowing hundreds of billions, the conservatives smugly scoring pointless points, but not giving any constructive advice as they watch us sink...I think its time we grabbed our pitchforks and torches ;0)

RCG99

Juno_Moneta wrote: »

'Under review' for yet another month will be agony for customers and painful for One call centre staff.

One need to surprise us with a quick decision and gain some good PR.

Hope they are reading this!

:rotfl: :rotfl: :rotfl:

Ha! the chance of any RBS numpties reading this or giving a sh** is about as unlikely as a rate cut today.