Debts & Bank Accounts - Please Help

kirstle99

Hi all, forgive me for being slow on the uptake, but i've only just found out today that RBS are being taken over by Santander in 12-18 months (or likely to be). I have used the online checker with RBS and had confirmed that our RBS current account branch is amongst those to be sold to Santander.

Anyway, we are currently in a DMP with Payplan, and we have 2 debts that were originally with Alliance & Leicester that are now with Santander (one is an old joint account the other is hubby's old current account).

Should we now be considering moving our current account from RBS to somewhere else?

bottleofred

It may not be an immediate issue, but I would advise you to move as I would always protect my income before any bank may have the opportunity to offset against debt!

CH27

I think you should move your account to an unrelated bank.

kirstle99

Yeah I thought so, ok i'll start looking into that ASAP. Ashame really as I like banking with RBS.

Does anyone know if HSBC are associated with anyone else or if they are just HSBC?

scott1358

HSBC own First Direct but are not linked with any other high street institution... I believe.

kirstle99

Ok thank you

lindann_2

coop bank and yorkshire bank not related to RBS or satander

l know l have a dmp with payplan, we was with rbs

good luck

kirstle99

Thanks very much that gives us a little choice of a couple of places x

speeddial

Some RBS Branches are being bought over by Santander, however not the whole of RBS is being bought over by Santander.

I'm sure RBS would be happy to transfer your account to another branch that is not being sold off, it's just they can't tell you that directly ;-)

copperboom_2

Your bank provider won't change, all it means is that your branch won't actually be there any more, because it'll be a Santander branch instead, just as if it had closed down and changed to a Topshop or something instead.

You'll still be banking with RBS but you might have to travel a little further to get to your local branch, and I guess your sort code might change! (I used to work for the RBS group and we were informed about this about 18 months ago!) So you shouldn't have to do anything! Hope this helps.

speeddial

Are you sure that is correct? I was under the impression that Santander would also be taking over the branch accounts and that RBS were not allowed to directly contact customers in order to hold onto them?

However a customer could contact RBS and ask to be moved to another branch and their banking remain with RBS?