One Account rates cut

sparkey1

Sodamhall 1. Its a matter of trust. No one is bothered if the banks play fair. That means quite simply we can live with rates increasing and having to pay, but we are not cash cows. The One account is now uncompetive in the market place, and we are subsiding RBS for their mistakes. We could all probably live if they passed on half or more of each rate cut, but they haven't. They have kept the money and betrayed our trust.

Look at the bigger picture. If all the rate cuts had been passed on, I would have an extra £300 per month in my pocket, which could then be spent on builders, cafes, shopping etc and helping to restore the economy. If RBS had been run properly I wouldn't have lost a fortune on my RBS shareholdings, and the taxpayer (of which I am one) wouldn't own nearly 80% of the bank. Forgive me if I sound angry, trust me I am. Whats really annoying is that I often go into a local RBS branch and pay money into my account. Almost everytime the cashier asks me if I would consider swopping from the one account to a straight forward RBS mortgage. Everytime I give my phone number and no one ever calls me. Maybe if they had, I might be thinking RBS what a great company, they have acted in my interests and found me a cheaper mortgage. But they haven't. Instead credit is tighter and my house value has dropped, making it difficult for me and thousends of others to remortgage.

If you are a banker than it prehaps time you started to understand your customers, and stopped looking at your bonus. Let me ask you again. Do you work for a RBS group company? Do you receive any form of commission or remuneration from an RBS Group company?

natwestripoff

Sodamhall another thought, I had a mortgage when I was 24 and the mortgage rates went up to 15% and house prices halved, I had 40% negative equity. I was re-possessed because I lost my job and I could not keep up with the mortgage at these levels of interest (although soon after I was back in work).

The bank did not say to me, look times have been good for us, and we are making a healthy profit so we are going to charge you 2% less to help you out and see you through this difficult time.

Do you really think now the bank are in trouble and need every penny they can get (or for all the reasons you have given) I should say look don't reduce the interest rate, charge me a some more so that you can get through this difficult time?

While I understand part of your argument put this simply how do you really expect me to react?

One last word, if you work for the bank say so, it is okay for you to give your opinion and everyone here is big enough to listen to your arguments, but they just want you to be open and honest about it.

Going_Digital

One way to make RBS Listen would be to ensure you let them know that you are not using their other products because of the way they have treated you.

So if you have a Direct Line, Privilege or Churchill insurance policy first call them or write to them and ask them to remove the auto renewal as you do not trust any Royal Bank of Scotland companies.

When the policy is up for renewal go elsewhere use Martins excellent article to find a better deal or at least one that is close to your existing price. Then write to your RBS insurance company telling them that they have lost your custom of x number of years due to the way you have been treated as a One Account holder. That you do not trust RBS with such to deal with you in a fair way and so will not trust any company that is a subsidiary or partially owned company of the RBS.

Explain that you would like them to disclose a full list of brands/companies that are operated or owned by RBS to ensure that you can avoid having any financial dealings with an untrustworthy organization that represents an unacceptable risk.

oldjabez

A quick check on Hemscott shows these products, brands, companies and subsiduaries are all registered as RBS

Products & Brands
Adam & Co; Angel; Churchill; Coutts; Coutts Bank von Ernst; Direct Line; Direct Line Financial Services; First Active; Green Flag; Lombard; Lombard Direct; NIG; NatWest; Privilege; RBS Greenwich Capital; RBS Securities; Tesco Personal Finance; The One Account

Subsidiaries
Ulster Bank Ltd; Greenwich Capital Markets Inc; Coutts & Co; National Westminster Bank PLC; The Royal Bank of Scotland PLC; Citizens Financial Group Inc; RBS Insurance Group Ltd; ABN AMRO Bank NV

Hope this helps.

Yorkshire_Bred

Its not just customers of RBS that are unhappy, now the shareholders are at it !!

http://uk.news.yahoo.com/21/20090218/tuk-civil-case-against-bank-adjourned-6323e80.html

karanda

oldjabez wrote: »

A quick check on Hemscott shows these products, brands, companies and subsiduaries are all registered as RBS

Products & Brands
Adam & Co; Angel; Churchill; Coutts; Coutts Bank von Ernst; Direct Line; Direct Line Financial Services; First Active; Green Flag; Lombard; Lombard Direct; NIG; NatWest; Privilege; RBS Greenwich Capital; RBS Securities; Tesco Personal Finance; The One Account

Subsidiaries
Ulster Bank Ltd; Greenwich Capital Markets Inc; Coutts & Co; National Westminster Bank PLC; The Royal Bank of Scotland PLC; Citizens Financial Group Inc; RBS Insurance Group Ltd; ABN AMRO Bank NV

Really useful - and a reminder below to everyone to sign the petition on the website below. Every signature counts.

http://petitions.number10.gov.uk/RBSOneAccount/

Palm_Centro

Morning All

Saran_2

Thanks oldjabez. Had to renew car insurance and take out travel insurance in last couple of weeks and did some research as well. Scary how many of our well known brands are underwritten by RBS group companies. Take a look at

http://en.wikipedia.org/wiki/Royal_Bank_of_Scotland_Group
(section 5 - corporate structure)

Only competitive alternatives I found were Aviva (Norwich Union) and AXA (Zurich). Not a recommendation of their service - just good price and NOT RBS.

Going_Digital

Oh, and don't forget to help out your friends and family. If they have insurance with any of the RBS insurance brands, help them get cheaper insurance elsewhere. You can always then send an email to RBS telling them you have helped x number of Direct Line customers find a better insurer, one that is more trustworthy than RBS.

Going_Digital

Saran wrote: »

http://en.wikipedia.org/wiki/Royal_Bank_of_Scotland_Group
(section 5 - corporate structure)

That is useful information, especially that they underwrite Alliance & Leicester, that explains the scam that they are running, promising to beat your insurer. Their scam is that whatever amount you put in they will give you a quote that is a few ££'s cheaper, but if they won't beat it it claims that you have not given sufficient information so they don't have to pay out on their promise of free insurance.

I found that Admiral did a good deal for us via gocompare it wasn't much less than Direct Line but to be honest I would of paid a few ££'s more than Direct Line just to make sure I wasn't dealing with RBS.