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MSE News: Mis-selling and IT meltdown to cost RBS £300m

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MSE News: Mis-selling and IT meltdown to cost RBS £300m

edited 30 November -1 at 1:00AM in Budgeting & Bank Accounts
3 replies 1.4K views
MSE_GuyMSE_Guy MSE Staff
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I've been Money Tipped! Newshound! Chutzpah Haggler
edited 30 November -1 at 1:00AM in Budgeting & Bank Accounts
"Taxpayer-backed RBS racked up more than £300 million in charges today as it counted the cost of numerous scandals ..."

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  • corbyboycorbyboy Forumite
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    Since these charges will have all been passed on to customers by other banks and financial institutions, I am surprised the banks don't have an agreement to just cancel the charges in these situations.
  • callum9999callum9999 Forumite
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    corbyboy wrote: »
    Since these charges will have all been passed on to customers by other banks and financial institutions, I am surprised the banks don't have an agreement to just cancel the charges in these situations.

    Why on earth would they? If you were running a bank and had the option of charging a customer a £12+ fee for going overdrawn/missed payments etc. which would be paid by my competitor (so probably no ill-feeling from my customer about it) or getting nothing, what would you choose?
  • InsideInsuranceInsideInsurance Forumite
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    Costs RBS £300,000,000 but given RBS is still 85% owned by the tax payer it looks like it'll be a fair bit longer before we see any return on our collective investment in that group.
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