RBS, Bank of Scotland, HBOS

justheclothesonmyback

Please tell me - Does anyone know if RBS and the Bank of Scotland are the same? Or are they two different banks?
Specific reason for asking is that I believe AA are Bank of Scotland and OH applied for loan with them couple of weeks ago. But got offered 7.8% rate, not advertised 5.9%.
He wants to try Lombard Direct, who are Royal Bank of Scotland, (set 6.4%), but it would be a waste of time if it turns out that Royal Bank of Scotland (RBS) and Bank of Scotland are one and the same.
Advice appreciated.

CarolnMalky

They are two completely seperate banks.

RBS is part of the Royal Bank of Scotland Group.
Bank of Scotland is part of the Halifax bank of Scotland group.

Hope this helps
Carol

justheclothesonmyback

Thank you, that was really helpful, we can now confidently go ahead and apply for the lombard direct loan. It's just confusing because the two banks' names are so similar - (I'm not the sharpest pen in the box )
p.s. - love the avatar! if only life were that, eh?

Astaroth

Bank of Scotland and Royal Bank of Scotland have always been seperate entities (and needless to say I am sure the rivalry has existed from day 1)

Bank of Scotland and Halifax merged not that long ago and formed HBOS as the parent group

RBS has bought out many different companies including most famously Natwest (natwest was many times larger than RBS but still RBS managed to buy them out rather than the other way round) but the parent company remains RBS Group

regularsaver1

But still Lombard and AA offers will be different to RBS or BOS branch offers - as they only supply the finance