RBS Accounts Switched to Wescot

scunner

Hi. Why would RBS suddenly change the management of three accounts to Wescot Ltd please? I've been making reduced repayments for all three accounts for some time before BRS contacted me to say that the management of these accounts are being switched to Wescot.

Wescot appear to acting on behalf of RBS and the repayments are still to be made to RBs.

Thanks

sourcrates

Hi,

Basically the banks cannot be bothered to waste time and money administering your accounts, so they farm them out to DCA's such as Wescott, to manage them on there behalf.

RBS will remain the owner, but your accounts will be managed by Wescott, very common practice.

January2015

Same happened to me with two accounts (RBS and NatsVest) this week. I don't even need to change the standing order I already have had set up for the last 18 months. Same payments, same place, just Westcott managing it. Seems like an expense RBS & NatsVest could do without, but then it's their choice.

erskineman

Same happened to me last month with my NatWest credit card debt being passed to Wescot to manage, but payments still to be sent to NatWest.

I wonder if this will make it easier to arrange a decent F&F!!

blisteringblue

erskineman wrote: »

I wonder if this will make it easier to arrange a decent F&F!!

Absolutely !! Wescott are quite likely to offer you some deals to close early for reduced payment. My old Santander account is with them now and they have asked a couple of times, but not been in a position to deal.