RBS Branch Sale Announcement

MrTomato

Fiddlestick wrote: »

Could you explain what the bailout decision by the British Government and the sell-off conditions imposed by the British Government have to do with the European Union?

I'm really not seeing the connection.

Still, best not let something like the facts get in the way of an anti-EU moan, right? :rotfl:

EU Commission says banks can't receive state funding. They did, so as a punishment, they've got to sell branches.

cbassno3

If Santander buy Rbs within the next 24 hours im quite tempted to move on straight away? I have heard nothing but poor reviews from them and i don't want anything to do with them. We will be santander customers but with out the brand being changed straight away. Any suggestions?

EarthBoy

The reports suggest that although the sale might be agreed in the next 24 hours, it won't actually be finalised until late next year, so you will still be a customer of RBS until then. It will take that length of time to separate the IT systems from the rest of RBS.

Apparently, another reason for the delay is that the price Santander are paying is conditional upon how many customers stay with the branches being sold. i.e. if half the customers hot foot it to different banks then they will get the branches on the cheap. Santander don't want, or need, the actual branches anyway. After absorbing Abbey, A&L and Bradford and Bingley, they've already got a glut of premises, so I expect they will embark on a massive closure programme once they have bought the RBS branches. Here in Sheffield, they will have 4 branches within 50 yards of each other, -one ex Abbey, one ex B&B, one A & L, and one RBS. It would be madness to keep all four open under the Santander brand.

jambosans

Fiddlestick wrote: »

Could you explain what the bailout decision by the British Government and the sell-off conditions imposed by the British Government have to do with the European Union?

Telegraph wrote:

The sale is part of a series of disposals forced on RBS as part of a deal with the European Commission to secure approval for the aid provided to the bank as part of the Government’s multi-billion pound rescue package.

(link)

Fiddlestick

jambosans wrote: »

(link)

Ta muchly.

I wasn't aware of that.

System

CG19a wrote: »

Hi, anyone heard any news about the Scottish Natwest branches?

They have been packaged up with the English and Welsh RBS branches. So will move across to Santander at the same time...

huw01

glider3560 wrote: »

Mostly likely. But why would anyone want to move their account to a branch in Scotland (which could potentially be hundreds of miles away) when they are in deepest darkest England or Wales?!

Because I manage my account through digital banking (internet and phone) as it's not my primary account I can pay into it using faster payments from my HSBC account. The branch might as well be in the Orkneys - it makes no difference.

I have had a good relationship with RBS and wish to continue as their customer not as a customer of Santander. Who would wish to choose to be their customer ?

MoneySavingUser

confirmed here: http://www.bbc.co.uk/news/business-10862690

jackarmy

Will the One Account be part of Santander:mad:


I ask this question as their online banking facility is one of the best.

"Unless of course you know different"

TheAccountant_2

I've been with RBS for 25 years and not letting these Spanish Clowns anywhere near my account. I am moving my account to a NATWEST branch before the staff cuts and re-organisations start. NATEST have the same Internet package and ways of working as RBS its a no brainer in the short term.

I started banking with them when they were Williams & Glyns.

Santander may be cheaper the press is littered with examples of their constant poor customer service.

So much for Customer choice - I guess the Spanish just have more influence in the EU!