RBS Vent - Mis-selling Royalties accounts

DCFC79

pmduk wrote: »

It might have been a good idea to discuss the "interview" (read sales pitch) with her before she went into the bank. They don't hold these interviews for the customers' benefit.

there was no way of knowing what the chat could be about, ive had 1 or maybe 2 with rbs and the royalities accounts wasnt mentioned at all,

zppp

Azari wrote: »

Read the thread.

I had before I posted thanks.

Having reread the posts as you kindly suggested I pose the question again. How is the product unsuitable for the OP's daugther?

Azari

zppp wrote: »

I had before I posted thanks.

Having reread the posts as you kindly suggested I pose the question again. How is the product unsuitable for the OP's daugther?

OK, sorry, I should have suggested that you tried to both read and understand.

Let's try and keep it really simple:

They sold someone on minimum wage who is not a driver and is unlikely to become a driver in the foreseeable future an expensive account on the basis that it would save her money on her car insurance.

Only a complete idiot would call that a 'suitable' product.

pmduk

DCFC79 wrote: »

there was no way of knowing what the chat could be about, ive had 1 or maybe 2 with rbs and the royalities accounts wasnt mentioned at all,

The royalties account may not have been discussed with you, but there's no hiding from the fact that these reviews/interviews, call them what you will, are nothing but a sales ploy for the bank. After all, they consider themselves under no responsibility to offer products that will benefit the customer.

Jeff_Bridges_hair

Azari wrote: »

OK, sorry, I should have suggested that you tried to both read and understand.

Let's try and keep it really simple:

They sold someone on minimum wage who is not a driver and is unlikely to become a driver in the foreseeable future an expensive account on the basis that it would save her money on her car insurance.

Only a complete idiot would call that a 'suitable' product.

And this is the only unsuitable part that the OP has mentioned about the product. Yet further down the page someone else has highlighted lots of other things that you ALSO get with the said product. It is not just the discount on car insurance.

And now i will list the full benefits that you will get from this product and you tell me which would look really nice to an 18 year old girl

5 Star Defaqto UK & Worldwide multi-trip travel insurance - cover for you, your spouse or partner and children aged 18 or under if they are unmarried (or aged 23 or under if in full-time education), permanently residing with the account holder (children are only covered when travelling with an adult insured under this Policy). Members and their partners aged 70 years and over must pay an additional annual premium of £50. Full Terms and Conditions apply.
Travel Service – up to 10% off - selected holidays and flights when you book through Royalties Membership Services.
UK airport executive lounges - complimentary access to selected UK lounges, including Heathrow, Gatwick, Manchester, Edinburgh and Glasgow. Available when you book travel through Royalties Travel Booking Service (a Royalties Gold extra benefit).
Discounted hotel booking - up to 60% savings at more than 21,000 hotels when you book through Royalties Membership Services or online.
Travel money - Preferential exchange rates and complimentary delivery on commission-free travel currency - when you order through Royalties Membership Services.
Overseas money - get money in local currency at cash machines and buy goods abroad wherever you see the logo shown on your card.
Days out for less - discounts at big name UK attractions and activities.
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Protection benefits

Mobile Phone Insurance – you're covered for one mobile phone and SIM card against accidental or malicious damage, loss and theft up to a maximum retail value of £1000 (including VAT). You're also covered for up to £1500 (including VAT) of unauthorised calls per claim for monthly contract phones and up to £100 (including VAT) for pay-as-you-go. Plus if you have a joint account we will cover up to 2 handsets. Cover commences 14 days after registration.
Identity Theft Protection - Up to £5,000 cover for expenses incurred by you in defending and restoring your credit status after fraudulent activity plus a complimentary credit report, online card monitoring and CIFAS registration
Home emergency cover - call our 24-hour helpline for assistance in an emergency situation, with cover up to £500 towards the cost of emergency home repairs (a Royalties Gold extra benefit).
Home insurance - an additional 10% off our home insurance in the first year, with 4 Star Defaqto rating. Excludes offers where we Guarantee to Beat your existing or renewal premium from another provider.
Extended warranty - get an extra two years' cover on domestic electrical goods when purchased in full, in one transaction, using a Royal Bank credit, debit or cheque guarantee card (a Royalties Gold extra benefit).
Car Insurance - you now receive a 10% discount on your RBS car insurance premiums for the first year. Subject to minimum premium criteria.
Car breakdown cover - Relax in the knowledge that Green Flag are there to help if your car breaks down. Can't start your car in the morning or broken down near home? HomeCall comes as standard. Your cover has now also been extended to cover all cars owned by you and registered at your address.
Accidental Death Insurance - £15,000 accidental death insurance (£200,000 if you are travelling as a fare-paying or pass-bearing passenger on licensed transport such as a train or plane). For Joint Royalties Gold account holders, the cover is split equally amongst the account holders. And for persons aged 70 or over, Accidental Death Insurance is reduced by 50%, although passenger cover stays the same (a Royalties Gold extra benefit).
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Entertainment benefits

700 UK restaurants for 25% less - save on your food and drinks bill when you book through Royalties Membership Services or online. The standard Royalties account offers 450 restaurants (a Royalties Gold extra benefit).
25% cash-back on top gigs and live shows - receive cash-back on up to six tickets per event - including plays, concerts, stand-up comedy, musicals and exhibitions.
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Banking benefits

Great rates - get tailored rates on your credit card, great deals on personal loans (except online loans) and access to our mortgage offer for Royalties Gold.
Tailored credit card rate - If you have a Royalties Gold account you are guaranteed a 1% initial discount on our standard credit card rate for at least 12 months. Typical APR 15.9% variable. Find out more about our credit cards.
Royalties Saver Account - an instant access savings account offering preferential rates for Royalties Gold customers. A minimum deposit of £2,000 is require to open a Royalties Saver Account
Protect your cards - with just one call, you and your household are protected when any registered debit or credit card is lost or stolen. Lose your cards abroad, and we can advance you up to £250 in emergency cash*.
Lower cost overdrafts - you'll pay no arrangement or renewal fees on overdrafts up to £15,000. And pay no interest on agreed overdrafts up to £250.
Emergency Cash - our Emergency Cash service allows you to withdraw up to £300 from a RBS* cash machine anytime, day or night should your debit card be lost or stolen**

Now do you not think the discounts on live bands and Entertainment may not have swayed her into thinking she wanted this or are you still adamant that she was only offered discounted car insurance?

Azari

Jeff_Bridges_hair wrote: »

And this is the only unsuitable part that the OP has mentioned about the product. Yet further down the page someone else has highlighted lots of other things that you ALSO get with the said product. It is not just the discount on car insurance.

And now i will list the full benefits that you will get from this product and you tell me which would look really nice to an 18 year old girl

Now do you not think the discounts on live bands and Entertainment may not have swayed her into thinking she wanted this or are you still adamant that she was only offered discounted car insurance?

None of that is really much use to someone on minimum wage.

The person she spoke to at the bank after being mis-sold the account realised that and changed her to an appropriate one without fuss.

It's a pity that you are so determined to have your own way that you cannot just let it drop and are making a lot more fuss than the bank did.

The bank realised their mistake. Why can't you?

Jeff_Bridges_hair

!!!!!! its you that wont have it and your sitll trying to blame the sodding bank when its quite clearly the OPs daughter that messed up.. The bank didnt admit to any mistake. It was another cashier that said that she wasn't suited to the account. Another cashier may have told her again something different. And there is nothing on the RBS website that i can see that would not let her qualify for the account. http://www.rbs.co.uk/personal/current-accounts/g1/extra-benefit-accounts/royalties-gold.ashx#tabs=section4

And im pretty sure anyone on minimum wage would love to get 25% off at cinemas & restaurants so that they could go out and enjoy themselves more.Phone insurance is always a bonus because you never know when you may lose it.

You blame the bank all you want - your wrong and you well know it.


Or i will ask you again to prove to me where they bank have miss-sold or done anything other then offer someone a product that they agreed to and when their mam found out wanted to cancel it.

Your pathetic arguement would get laughed out of a solicitors office and the FSAs office if you went to complain about it

cazziebo

Can't believe the stushie this has caused!

Let's go back and set the scene. My daughter has done some part time work since she was 15. She had a children's account (or whatever it's called) with RBS. She gets a letter to say she is no longer eligible for that account and she must contact the branch for a meeting to decide on what account will best suit her. A condition of her employment is that she has a bank acccount for her wages.

Absolutely NONE of the benefits listed are of any use to my daughter. She lives at home so the various insurances are of no interest. Her dad pays her mobile bill and covers her iphone insurance. She will be a student for the next four years so credit cards are of no interest. Her dad and stepmum work in the media and she can get back stage passes for just about any concert she wants. She is saving up for university so restaurants, overdrafts etc are of no interest. She is taking driving lessons but will be going away to Uni so it's unlikely she'll have her own car for years to come.

A proper, customer centric analysis would have deduced that - a fact reinforced by the second bank employee she spoke to - a basic account would suit her needs. This second employee confirmed that that Royalties gold is a premium account designed for a completely different customer profile. (Annual family travel insurance :rotfl::rotfl::rotfl:she'd rather pluck out her eyes than go on holiday en famille!)

I'm not that angry that this is my daughter. I'm angry about the poor sloppy customer service that is driving down standards in the banking industry and ultimately endangering our economy. I can't believe that some posters on here think this is acceptable. We need to regain some pride and ethics in our financial services industry.

I bank with three banks - Nationwide, Co-op and Metro. If I thought any of these banks would treat any customer like this - young or old - i would withdraw my custom immediately.

Jeff_Bridges_hair wrote: »

And this is the only unsuitable part that the OP has mentioned about the product. Yet further down the page someone else has highlighted lots of other things that you ALSO get with the said product. It is not just the discount on car insurance.

And now i will list the full benefits that you will get from this product and you tell me which would look really nice to an 18 year old girl



Now do you not think the discounts on live bands and Entertainment may not have swayed her into thinking she wanted this or are you still adamant that she was only offered discounted car insurance?

Azari

Jeff_Bridges_hair wrote: »

!!!!!! its you that wont have it and your sitll trying to blame the sodding bank when its quite clearly the OPs daughter that messed up.

It's quite clear to you.

That's why it's your opinion, to which you are perfectly entitled.

On the other hand, it's quite clear to me that the bank did mess up. It's was also quite clear to the second bank empolyee to whom the subject of this thread spoke. So that is the opinion of myself and that of the bank employee. We are just as entitled to our opinions as you are to yours.

Do you see that?

The bank didnt admit to any mistake.

Again, your opinion.

My opinion is that they did. The opinion of the second bank employee is that they did.

It's becoming farcical that you cannot accept that different people have different opinions and just keep insisting that your opinion is correct.

And there is nothing on the RBS website that i can see that would not let her qualify for the account. http://www.rbs.co.uk/personal/current-accounts/g1/extra-benefit-accounts/royalties-gold.ashx#tabs=section4

Being qualified for something does not mean that that thing is suitable for you.

If you have £5 you are qualified to give someone £5. That does not mean that giving them £5 is a suitable thing for you to do.

And im pretty sure anyone on minimum wage would love to get 25% off at cinemas & restaurants so that they could go out and enjoy themselves more.

Again, your opinion.

I think paying £12 is a lot for someone on minimum wage who may well be struggling to save or pay day to day expenses.

Phone insurance is always a bonus because you never know when you may lose it.

Someone on minimum wage may well have a £10 mobile phone that actually costs less than a single months charges on an unsuitable account.

You blame the bank all you want - your wrong and you well know it.

Again, your opinion.

Mine is different. As was that of the more responsible bank employee who sorted out the problem. I'll bet that the bank management are glad that they don't have you for an employee as you would be a terrible advertisment for them.

Or i will ask you again to prove to me where they bank have miss-sold or done anything other then offer someone a product that they agreed to and when their mam found out wanted to cancel it.

My opinion is that the bank acted incorrectly and somewhat stupidly.

Trying to con an impressionable teenager into signing up to an unsuitable account is not clever because they have to back down and have the just wasted everyone's time.

Your pathetic arguement would get laughed out of a solicitors office and the FSAs office if you went to complain about it

Fortunately, the bank realised their mistake and backed down without fuss.

Your increasingly hysterical attempts to defend them are now becoming rather amusing and I'm looking forward to seeing how far over the top you can go with your next installment.

DCFC79

pmduk wrote: »

The royalties account may not have been discussed with you, but there's no hiding from the fact that these reviews/interviews, call them what you will, are nothing but a sales ploy for the bank. After all, they consider themselves under no responsibility to offer products that will benefit the customer.

maybe but people have a choice to say Yes or no,