RBS - No thanks

Paul_Herring

regularsaver1 wrote: »

meaning they know about all your accounts and credit anyhow

But they can only do that with your permission, and it happens once at the start of employment - unless signing the employment contract gives them unending permission to query your CRA report any time?

Jarlawuk

stacey21 wrote: »

All banks have this policy, saves them money, gains them money etc etc.
I did it with Lloyds TSB and just kept it open for wages only, and transferred them out the day they went in

Same here - had to open a co-op account when I joined. I simply withdraw all the money out same day and desposit it elsewhere.

chica_fi

ejones999 wrote: »

Heng Len I maintain that Yorkshire Building Society are not part of the RBS group in any way and therefore your plan would not work.
People working in financial services must understand that they have to be seen as whiter than white when it comes to dealing with their own accounts.

Having said that if the OP 's employers wanted to know everything about all of her bank accounts I have no doubt they would have copies of everything within the hour!!
I am amazed about what my 'credit scoring' referal desk can tell me about a potential new customer to the extent of telling me what their passport number should be! !

This is the nub of the issue - it's all about financial probity. People working in banks - whether they are branch staff, back office, mortgage support, whatever - must be able to show that they are financially responsible, before they're giving advice to others on their finances.

One of my staff has their current account with a different bank and all wages etc go through that. He used to have his account with us but then moved them away and for a while was having big cash differences. There were also rumours that he was working another parttime job to supplement income. You start to wonder what financial trouble he is in.

HOWEVER it's not as if the bank can snoop through people's accounts as they like - I certainly could be in line for disciplinary action if I was to start looking. But if cash differences etc got to a certain stage it is an option the Bank can take, and because we have all signed a contract to be financially responsible etc etc, that includes a clause allowing the Bank to do this. Dunno how that sits with right to privacy but if someones swicking the branch, or worse a customer, out of money...

Compound_2

If RBS gets away with this, it could be a slippery slope. Does this mean all Tesco staff should have salaries paid into a RBS account because of the Tesco Personal Finance scheme? Could any company do a deal with a bank, earning commission for forcing employees to have salaries paid into a poor paying account? Many of the top deals/freebies on this site require you pay your salary into the account. A standing order may not be allowed, and in any case loses you a few days interest. So RBS staff would be excluded from MoneySaving. They wouldn’t be able to get current account mortgages elsewhere. RBS should be providing benefits to incentivize staff to open accounts. This heavy-handed approach is wrong, and exposes the poor value of their products.

On the privacy issue, perhaps use a NatWest account? Although data could ultimately be shared, NatWest’s legal and administrative separateness means that a valid reason would be required. This should prevent the habitual unauthorized accessing of accounts we saw at Barclays.

regularsaver1

Paul_Herring wrote: »

But they can only do that with your permission, and it happens once at the start of employment - unless signing the employment contract gives them unending permission to query your CRA report any time?

#true, i was responding to OP who sounded oblivious to the fact this happens at start anyhow

BWZN93

I actually cant believe that this is written into your contracts! I work for Nationwide and we can have an account whereever we want, however, i recently transferred mine to Nationwide because I found RBS so bloody frustrating to deal with. One thing that particularly irks me is that there isnt an RBS branch open on a saturday in Bristol, and things take really long to get sorted out!

(not to bash the employee's of course - they have been lovely - I just get annoyed when I cant bank on a saturday or when things take an age to do!)

Jo x

regularsaver1

we can too at HBOS - not go to use a HBOS account, although I do (was my bank anyway)

Jarlawuk

MABLE wrote: »

What about loyality to your employers. Why give another bank your business. With me I am in a profit share and the more business we get the bigger the share.

Would do but with 0% on the current account and 4.5% on the savings account, compared to 6.17% (Halifax) + 5.75 (HSBC) it makes it hard to see why I should leave my wages there...

regularsaver1

I can get 6.17% without the required £1000 a month, so thats alright