RCI and Charter - identical systems

vadek

I was recently lucky enough to inherit some dosh from a relative (no - not that much), so I was looking for places to put it. I opened savings accounts with both RCI and Charter savings banks. They're not supposed to be linked in terms of FSCS protection, but I can't help noticing that the account numbers they have given me are in an identical format; my online user ID is the same format for both; and they both use the HSBC for their transactions. Looks suspiciously like they're using the same IT systems, so it's a bit concerning with regard to banking protection. Does anyone have any inside info?

eskbanker

Not sure I'm following your logic - why would a common underlying system platform be a concern for FSCS protection?  There are numerous examples of banks either sharing systems or using the same one but separate instances, with or without shared banking licences, but this isn't related to FSCS status....

Uxb1

They will have employed the same  "separate facilities management company" to run the front end/customer facing part of their online systems.
I recall many years ago the Newcastle Building Society had a subsidiary which ran online banking systems for others - they may well still own it.

eskbanker

Uxb1 said:

They will have employed the same  "separate facilities management company" to run the front end/customer facing part of their online systems.
I recall many years ago the Newcastle Building Society had a subsidiary which ran online banking systems for others - they may well still own it.

Yes, I think this is one and the same - Charter used to use the Newcastle system (alongside various others), as discussed here: https://forums.moneysavingexpert.com/discussion/comment/76163252#Comment_76163252

vadek

Fascinating, thank you both. Using an off-the-shelf banking system is no doubt frugal and saves them reinventing the wheel. It's a shame local government doesn't do the same.

cosh25

Newcastle Strategic Solutions (Building Society) runs/manages these services for Charter, RCI, Paragon and Ford Money from the top of my head. There maybe more that I was unaware of.

changearound1

cosh25 said:

Newcastle Strategic Solutions (Building Society) runs/manages these services for Charter, RCI, Paragon and Ford Money from the top of my head. There maybe more that I was unaware of.

Also Vanquis, Aldermore and First Save.

Cashmygiro

Newcastle used to run the backend for Icesave back in the day too.

I've opened Ford Money and RCI accounts recently and noticed the similar pattern user ID's and the same Wallsend PO Box on the back of postal mail from them so thought I'd investigate. 

Dave_Portsmouth

I have certainly noticed it with Aldermore and RCI from account number format to security questions being very similar