One Account interest rate reduction history

stevemcol

Hi

Did anyone keep track of, and record those times when RBS did and did not pass on interest rate reductions when the rates were on their way down?

With interest rates set to rise, I'd just like to prepare myself to write letters of self righteous indignation when RBS don't absorb any of the increases.

Saran_2

Hi,

The details were:

0.25% cut not passed on in April 08
0.25% increase (no base rate change) July 08
0.5% not passed on after the Nov 08 1.5% base rate cut
0.3% not passed on as part of the Jan 09 0.5% base rate cut
0.5% not passed on as part of the Feb 09 0.5% base rate cut
0.25% not passed on as part of the March 0.5% Base rate cut

However, I wouldn't hold my breath about getting anything like fairness from RBS. They are all about maximising profit and sc**w the customer at the moment.

Have finally managed to get away from OA after losing 18 month FOS complaint regarding "those promises".

They have stated that their rate is not tied to any other, so they can legally do what they like with it - a scary thought!

Would move away ASAP, if you can.

ps Yes, I'm still bitter!

stevemcol

Saran

If I could have clicked Thanks twice, I would have.
Thanks very much.
I'm not anticipating any fairness whatsoever, in fact I'm certain they will pass on every rise immediately. It won't stop me writing or indeed taking my debt elsewhere if I can get a better deal.