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VIRGIN ONE ACCOUNT - CHANGES TO Ts and Cs

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Comments

  • teabelly
    teabelly Posts: 1,229 Forumite
    Part of the Furniture
    If they do that to anyone and reduce their facility then I think all OneAccount holders have the moral duty to max their facilities immediately ;) RBS would be stuffed so they'd better realise that the customer tends to play fairly with banks that play fairly with them. Messing us around when *we* own you is quite a cheek.

    Editor's commentary: The important three-month sterling Libor rate remained static at 0.595% , announced on Friday, 23 October.

    Considering Libor is under 1% and BOE is only 0.5% why is RBS charging 3.85%??? They have already said they take notice of Libor and BOE rates which is why they screwed everyone and put them up to 6%+. Now both rates have plummeted there is no argument for them keeping them high.

    I think the T & C change is deliberate as they know they are going to have to drop interest rates so they will decide to rake in as much money as possible for charging people for other services eg having a charge to have the account at all, processing charges or any other greedy little scheme they can think of.

    Are there any figures on how many oneaccount customers there are?
  • kippygirl
    kippygirl Posts: 220 Forumite
    My concern about the Ts and Cs is that they will use anyone's failure to object now as amounting to agreement to the changes. They would still struggle to get away with this under Unfair Contract Terms legislation etc but will no doubt try it. After all, they thought nothing of dishonouring numerous promises made previously over the interest rates. Could be a separate ombudsman complaint here...
  • rosieh
    rosieh Posts: 23 Forumite
    Saran wrote: »
    Hi musicegbdf,



    I even had a call from OA the other day to "find out how I was getting on", what were my intentions for having a large facility and did I want to reduce it. Answered - flexibility and NO!

    I had exactly the same call today! We're ahead of our plan and the guy was trying to talk me into reducing the facility on the basis that I probably didn't need all of it now. I said I liked to have it there "just in case" and he told me (repeatedly) that it would be easy to reapply by phone. Hmmm.. and what if at that point, our circumstances had changed?! I declined. But it took me three attempts - he kept going on about it. Eventually he said they'd leave it where it is and re-contact me in a year to see if I've changed my mind!
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