Nationwide interested in buying RBS branches?

chambta

In many places locally Nationwide branches are now too small to be fit for purpose whilst the RBS branches are larger and much better located.

Given these branches currently make several hundred million quid a year even with the uncertainty they've had interest from several areas should be no suprise.

callum9999

newfoundglory wrote: »

Nationwide just closed our local high street branch, why would they want another 300+ branches?

Maybe they'll put in a cheeky offer like RB would?

Because every single bank branch in the country doesn't have an identical number of customers and an identical profitability?

Milarky

I opened an RBS current account a few years ago (the 2% cashback on spending I think) but what I wanted to mention about RBS were their 1980s access-credit-card-style statements that they still send out. In an era of 3-d printing (and obviously pretty good 2-d design and printing too, therefore) how did a behemoth like RBS get stuck in a time warp like that?

It would be amusing if there were a big takeover of accounts at RBS with a fanfare of lavish promises of a better tomorrow for all - only for some big pension payouts to take place for a few top men about a year or two after - but all the rickety stuff to remain unchanged.

JuicyJesus

Milarky wrote: »

I opened an RBS current account a few years ago (the 2% cashback on spending I think) but what I wanted to mention about RBS were their 1980s access-credit-card-style statements that they still send out. In an era of 3-d printing (and obviously pretty good 2-d design and printing too, therefore) how did a behemoth like RBS get stuck in a time warp like that?

Doesn't really matter, does it? If anything it's better for all concerned that they don't waste money on fripperies like pretty statements when a more utilitarian one will give you the same information.

EarthBoy

This is Money claims that Nationwide are now the front runners:

http://www.thisismoney.co.uk/money/markets/article-2223732/Nationwide-moves-Royal-Bank-Scotland-branches.html

pqrdef

InsideInsurance wrote: »

In most cases it is not the physical branches they want but the book of business that comes with it. If any established high street bank were to buy them you'd except to see a fair number of the physical locations close over the following years but evidently the customers would still be with the new owners.

So it's like, the customer goes with the branch, not the company, so the customer stays with the branch even if you change the bank occupying the premises and all the products it sells, and change all the customer's accounts into the new bank's products. But then, it doesn't matter if you move the customer to a different branch, the one thing you didn't change before?

How is this customer - bank- branch relationship supposed to work exactly?

Why doesn't the Government just send everybody a letter telling them which bank they've got to use?

opinions4u

pqrdef wrote: »

How is this customer - bank- branch relationship supposed to work exactly?

The customer goes in to the branch and gets flogged stuff that's not quite as good as they could have got online.

Why doesn't the Government just send everybody a letter telling them which bank they've got to use?

Well it's effectively what the EU have done in the case of RBS and LBG Verde.

It was nothing to do with "competition on the high street" and "more choice for customers". It was a blunt punishing of those banks for messing up. Even though the mess they made wasn't anything to do with personal customers or retail banking.

I hate politicians. I hate the EU. Not that keen on banks.

If only the customer was king.