One Account rates cut

Northern_Troll

Nothing sinister here - I believe a number of us emailed the BBC yesterday as they only listed the RBS as giving the full 1.5% back to customers in November. I suppose that with a ground swell of protests they decided to increase the list.

Further to my email I have just received a reply from a broadcast journalist with the BBC asking for my telephone number - looks like we will need to keep the pressure going to nail our Lords at the RBS Manor !!

barnetgoblin wrote: »

Have just noticed that the Beeb have added RBS One account as a seperate entry on their list of banks and the changes to their SVRs - is this sinister?

Browntoa

I'm sure you will get enough volunteers from here if they want people to interview

written to my MP as has been suggested , posted him a link to the famous May letter of 2001 with the "promise"

Brice

barnetgoblin wrote: »

Have just noticed that the Beeb have added RBS One account as a seperate entry on their list of banks and the changes to their SVRs - is this sinister?

I think this is good news. This way, the RBS decision or non-decision on the OneAccount will not go unseen.

serendipity101

Martin Lewis is going to be on Radio 2 speaking to Jeremy Vine at 12 noon, maybe worth a listen to see if he 'bigs up' this thread.
[EMAIL="vine@bbc.co.uk"]vine@bbc.co.uk[/EMAIL] for comments to raise with ML

Brice

I plot two graphs:
* One showing the evolution of Oneaccount, Bank of England and LIBOR rate since June 2006:
http://www.photomania.com/photoview3.asp?login=x_x05122008_4HISR&photo=rad0A37E.gif&album=1
* The other one shows the difference between OneAccount rate and LIBOR and BOE rates: http://www.photomania.com/photoview3.asp?login=x_x05122008_SNU27&photo=radAFA1A.gif&album=1

For the OA and BOE rates I used the information from a message posted by Amanda in the facebook page. The LIBOR rate data come from this website: http://www.moneycafe.com/library/libor.htm
Note that I havn't double checked the information from the mentioned sources.

You are all welcome to use these graphs or publish them elsewhere, but please mentioned the sources of the information.

itsjustjoe2

[EMAIL="vine@bbc.co.uk"]vine@bbc.co.uk[/EMAIL]

Jeremy,

I refer Martins attention to a forum on his own website with over 50,000 views and 526 posts.
http://forums.moneysavingexpert.com/showthread.html?p=16479641#post16479641

The government controlled RBS bank has failed to pass on the full 1.5% rate cut to customers of its “One Account” brand despite assurances to the Chancellor and press releases stating that it would.

As this is the bank that received the highest bailout of all the major high street banks with the government controlling 58%, does Martin feel that RBS and The One account have acted in the best interests of taxpayers and customers at a time when increased spending in the run up to Christmas could be critical for the economy of the country.

Please highlight attention to the banks deceptive actions as well as the governments complete failure to get the bank to follow Gordon Browns clear orders that banks must pass these rate cuts on to customers to help stimulate the economy and avoid a major depression.

Thanks and regards,

Going_Digital

Slightly off topic but this made me laugh so much I had to share.

Our company got a letter today from RBS titled "Good Business Sense". This failed bank that was so incompetent that it has to be bailed out by us is offering business support. "We can help you with a great deal of practical support on day-to-day matters like cashflow management as well as more strategic, long-term advice."

It would seem this bank has no sense of humility and still thinks it knows so much that it can offer advice to businesses that are actually doing Ok without their help. Why would I take business advice from a bank that fails to understand how to manage their own business, especially with regard to to the fact that they seem to know nothing about customer satisfaction. They seem to think that alienating your customers like they have shown they are happy to do with this One Account debacle is good business practice. If anyone takes their advice the economy will be competing with Zimbabwe.

I am so annoyed with this incompetent bank that I have moved all insurance Policies from Direct-Line, have moved all my business accounts to another bank and will never have anything to do with these scammers ever again.

My only question is now that we own more than half of it, it seems that taking our business away is not going to harm the people who caused this problem as we are now majority owners. I think the directors should be prosecuted for causing this mess.

Insider_knowledge

Could someone draft a sample letter we could all send to the various agencies and politicians, I am not great at that kind of thing, I will give it a try though.

DIVEANGEL

I completely agree with what's been said and will be sending a letter to them today.

Every Bof E increase is followed a couple of days later by a letter from the one account advising of the rate increase with immediate effect. Yet after chasing them twice, we finally had a letter yesterday with a decrease of just 1% - effective almost a month later.

Another bone of contention with this bank is after the RBS took over Virgin one account, we recommended someone on the expectation of a £125 bonus each. But because they had took out the new RBS one and we had a Virgin one account - they were apparently "different" so we weren't entitled to it (despite being owned by the same company!)

It makes me so angry that after years of banking corporations screwing the "little people", they go cap in hand to the government who's pot the tax payers are filling. And what happens - we still come out worse off!

searlech

For those interested in reading, the Guardian article is online here http://www.guardian.co.uk/business/2008/dec/04/rbs-one-mortgages-first-time-buyers