One Account Rates Cut

booklady_2

sparkey1 wrote: »

Has anyone actually complained to One Account? Surely if enough people phone in, and register a formal complaint they might actually take notice, especially with all these letters going to MP's and the new Facebook group.

Several people have complained - and will continue to do so until the One Account complaints procedure is exhausted and they are able to refer the complaint to the FSA.

Very disappointed in the silence from the MSE admin team on where the old thread has gone. This will tarnish this site's image big time if they are not careful - MARTIN are you reading?

DickDastardly_2

I complained back in July and got fobbed off. I had their stuff to deal with, but now I have the time I have just complained again regarding the recent delays and hand-wringing passing on the cuts and now await a response and I will take ti further....

booklady_2

tajima1 wrote: »

http://forums.moneysavingexpert.com/showthread.html?t=1209517

Make sure you email the administrator with the link above to the previous thread and demand it is re-instated without delay. The administrator link comes up when you try to go to the link. I can only imagine it has been swamped and gone tilt.

Have copied and posted the above (hope you don't mind tajima) as it includes a link to send to admin ref the old site - perhaps if enough of us ask the question we might get an answer....because I don;t think it has been swamped I htink it has been removed on purpose, and we should be entitled to know why?

bluekipper

:mad: What happened to the old thread Martin, the silence is deafening
Consumer revenge my a..., Bankers,Politicians and so called defenders of democracy ...... Just off to flush the toilet !

harryskinters

Oh dear, here we go again!!!


http://www.myfinances.co.uk/news/mortgages/standard-variable-rate/hsbc-barclays-lloyds-tsb-cut-svr-rbs-does-not-halifax-cuts-just-0-15--$1252837.htm

Thursday, 04 Dec 2008 16:03

Royal Bank of Scotland (RBS) is not immediately cutting its mortgage rates, despite the Bank of England cutting the base rate by one per cent, meanwhile Halifax is just cutting its Standard variable rate (SVR) by 0.25 per cent.

The move from the RBS – which includes NatWest – will be seen as a blow to borrowers after it was bailed out by the government with the taxpayer taking a 57.9 per cent stake in the firm for £20 billion.

The Halifax SVR is also only seeing a small drop - despite the UK government also investing in the firm.

An RBS spokesperson said its standard variable rates (SVR) were under review, but refused to state when a decision will be made.

"On the back of today's base rate announcement RBS will ensure that it strikes an appropriate balance between the interests of savers and borrowers in any decision it makes," he added.

"The bank will remain competitive in the markets in which it operates."

Halifax stated the key reason for the small drop in its SVR - affecting 15 per cent of its borrowers - was due the need to remain competitive in the savings market.

Peter Vicary-Smith , Which? chief executive, said: "The banks are skating on thin ice as it is.

"They have been bailed out by taxpayers' money yet some stubbornly refuse to act in the public interest. If they fail to pass the latest cut onto their customers then the government must take decisive action."

Dualcyclone

It would appear that not only the One Account arm of RBS have failed on their 2001 promise to continue passing on the rate cuts; but RBS themselves have failed in their own promise to pass on the full 1.5% cut to its customers. Hear it from the horses mouth: http://www.rbs.com/media03.asp?id=MEDIA_CENTRE/PRESS_RELEASES/2008/NOVEMBER/11_RATE

THIS IS FACT.

Seeking legal advise here seems silly - we have a right to our views (freedom of speech), and simply because this website provides a medium for us to discuss our views defies belief that companies like RBS can stop us discussing our views.

Since we're facing a depression, it seems only right that banks pass on in full any rate cut - they're directly profiteering now, and it seems very unfair; more so when we hear of so many people facing repossession for simply missing a few payments.

And, is it just me, or does it seem strange that One Accounts own press releases have not been updated since 2005? http://www.oneaccount.com/onev3/press/press-latest-news.shtml

Brice

Dualcyclone wrote: »

It would appear that not only the One Account arm of RBS have failed on their 2001 promise to continue passing on the rate cuts; but RBS themselves have failed in their own promise to pass on the full 1.5% cut to its customers. Hear it from the horses mouth: http://www.rbs.com/media03.asp?id=MEDIA_CENTRE/PRESS_RELEASES/2008/NOVEMBER/11_RATE

They will argue that they say they would pass the rate on Standard Variable Rate (SVR) products and that OneAccount is not a SVR.

Poj

Quite a day today for our forum

1) the Guardian publishes a piece criticising the OA

2) the BoE rate drops another 1%, putting further pressure on OA

3) the PM faces a Q on OA on live radio

4) the forum gets wiped, no reasons given.

Still, at least we live in a free country.

harryskinters

I notice Tony Wood, the chap who launched DECAMP on facebook has not posted here despite todays interesting turn of events. I hope he hasn't been gagged by someones legal team as well!!

oldjabez

Poj wrote: »

Quite a day today for our forum

1) the Guardian publishes a piece criticising the OA

2) the BoE rate drops another 1%, putting further pressure on OA

3) the PM faces a Q on OA on live radio

4) the forum gets wiped, no reasons given.

Still, at least we live in a free country.

So you really think this is a free country!

I refer you to point 4. :rotfl: