RBS £150 current account switch

sausage_time

Anyone know if the RBS £150 switch applies to new Child & Co accounts?

eskbanker

sausage_time wrote: »

Anyone know if the RBS £150 switch applies to new Child & Co accounts?

I'd say no - the switching offer is open to RBS customers, as in Royal Bank of Scotland plc, with certain account types, as shown in the Ts & Cs linked at post #6. As I understand it, Child & Co is a separate legal entity, even though it's also part of RBS Group, i.e. it's a peer of RBS plc not a subsidiary. [edit: seemingly not, see below]

Anyone banking with Child & Co wouldn't be interested in demeaning themselves by scrabbling around for a mere £150 anyway....

IanManc

eskbanker wrote: »

I'd say no - the switching offer is open to RBS customers, as in Royal Bank of Scotland plc, with certain account types, as shown in the Ts & Cs linked at post #6. As I understand it, Child & Co is a separate legal entity, even though it's also part of RBS Group, i.e. it's a peer of RBS plc not a subsidiary.

Anyone banking with Child & Co wouldn't be interested in demeaning themselves by scrabbling around for a mere £150 anyway....

Child & Co is just a trading name of The Royal Bank of Scotland PLC. It isn't a separate legal entity and is just a differently branded RBS branch.

On the back of my Child & Co statements it says "Your deposits with the Royal Bank of Scotland are protected by the Financial Services Compensation Scheme. The Royal Bank of Scotland also trades under Adam & Co, Drummonds, Child & Co, Holt's and The One Account. This means that all deposits with one or more of these trademarks are covered under the same FSCS limit ….".

All correspondence apart from statements is RBS branded and comes from the Customer Service Centre in Chatham, and the stationery has the name "The Royal Bank of Scotland PLC" at the foot of every sheet, and the terms and conditions supplied are standard RBS leaflets.

A search of Companies House shows that a dormant RBS subsidiary "Child & Company" was voluntarily struck off in August 2015, and there is no evidence that I can find to show that Child & Co still exists as "a separate legal entity".

eskbanker

OK, fair enough, I was looking for online info on Child & Co but there didn't seem to be much and I put too much faith in the group structure info on Wikipedia (I know, I know!), hence the 'as I understand it' qualification to my comment....

So, happy to defer to your better-informed knowledge as a customer - in terms of the question I was trying to answer, are you able to clarify whether the branding of the Child accounts would fit the main switching criteria of:

1. New customers must:
(a) apply for a Select, Reward, Reward Silver, Reward Platinum or Reward Black account (‘eligible current account’) via rbs.co.uk, or through a branch

IanManc

eskbanker wrote: »

OK, fair enough, I was looking for online info on Child & Co but there didn't seem to be much and I put too much faith in the group structure info on Wikipedia (I know, I know!), hence the 'as I understand it' qualification to my comment....

So, happy to defer to your better-informed knowledge as a customer - in terms of the question I was trying to answer, are you able to clarify whether the branding of the Child accounts would fit the main switching criteria of:

Well I'll find out by 8 February because that is the deadline for them to pay me the £125 on the previous switching offer! :eek:

I'll post on here to let you know …….. I'm hoping to get it under "Existing customers who already have a RBS ….. etc" though my only account is a Child & Co one.

IanManc

sausage_time wrote: »

Anyone know if the RBS £150 switch applies to new Child & Co accounts?

The £125 for the last RBS switch offer has appeared in my Child & Co Select Account tonight.

:beer:

ET18

Just checking, is it possible for me to open a Starling account and switch this?

YorkshireBoy

ET18 wrote: »

Just checking, is it possible for me to open a Starling account and switch this?

https://www.currentaccountswitch.co.uk/banksandbuildingsocieties/Pages/banks.aspx

morg007

Just checking; I have banked with Natwest all my life. Never switched banks before (I know, I know...). If I took this offer up, would I get the £150.00 as I haven't used an offer with either bank like this due to the whole being with Natwest my whole like thing!?

Duckyduck

morg007 wrote: »

Just checking; I have banked with Natwest all my life. Never switched banks before (I know, I know...). If I took this offer up, would I get the £150.00 as I haven't used an offer with either bank like this due to the whole being with Natwest my whole like thing!?

You won’t be able to get this by switching your Natwest account to RBS as they’re the same group. You would need to switch a current account outside of RBS group (you can open one up just to switch if you haven’t any others you want to switch).