Santander / RBS Deal Off

coldhandoff

Seems quite strange considering how much progress both banks have made with this.

Deepfatfriar

There could be many reasons for this. As an ex English now Scottish (RBS) customer I am happy for the staff in our local branch who at least don't need to learn Spanish.

A reason not mentioned in the press and we will probably never know is that the exit of customers (like me) from RBS to others may have rendered the deal unattractive.

Also with Spain in the proverbial and likely to receive EU aid, who knows their banks will broken up and who is the biggest ---- Santander.

Whilst I agree that RBS have made some bad mistakes under Goodwin I find it strange that the BBC and others are blaming RBS for the failure when Santander is demonstrably the most inept and appalling bank especially when it comes to mergers such as Alliance & Leicester.

With the architect of this now hiding in LLoyds it will be interesting to see if their sale to the Coop collapses.

SideKick

So does this mean that my Scottish Business Direct Banking account will not transfer to Santander now? - That would be great.

BASFORDLAD

SideKick wrote: »

So does this mean that my Scottish Business Direct Banking account will not transfer to Santander now? - That would be great.

Thats correct

innovate

SideKick wrote: »

So does this mean that my Scottish Business Direct Banking account will not transfer to Santander now? - That would be great.

Might not be Santander now who takes them over - - but somebody will have to.

At the very least, RBS (and therefore the british taxpayers) will have to pay a gigantic fine if they fail to dispose off these branches by end of 2013.

I am amazed that anybody who pays UK tax can rejoice that the deal has fallen through.

SideKick

Thanks folks

bagpuss71

I presume this means I'm no longer in the transfer limbo and that I can now move my account to the bank of my choice? Didn't really want to be in either RBS or Santander at the moment.

innovate

You can move to another bank any time you like. There was never any block on people moving their accounts.

anotherbaldrick

innovate wrote: »

Might not be Santander now who takes them over - - but somebody will have to.

At the very least, RBS (and therefore the british taxpayers) will have to pay a gigantic fine if they fail to dispose off these branches by end of 2013.

I am amazed that anybody who pays UK tax can rejoice that the deal has fallen through.

I think that Sanander had finally got the message that being so universally detested and always coming bottom in customer satisfaction surveys, that if the deal went through all RBS customers would walk and they would have bought 318 empty branches

ChiefGrasscutter

innovate wrote: »

Might not be Santander now who takes them over - - but somebody will have to.

At the very least, RBS (and therefore the british taxpayers) will have to pay a gigantic fine if they fail to dispose off these branches by end of 2013.

I am amazed that anybody who pays UK tax can rejoice that the deal has fallen through.

I agree with you
It puts the sale/seller in an impossible positon going forward. Trying to sell something which you being ordered to sell by a fixed date - otherwise you will get a large fine is a no-win scenario.
You the seller end up by having to accept any offer - even if is for £1. Meanwhile the offers made - fully knowing this, will drop to this sort of level.

Seems to me the only sensible way forward is for the deadline to be extended by a significant amount by the EU - and not just by a few months.