Child & Co RBS Branch to close

Silverstone11

I’ve got a Child branded account. I was thinking of changing it to a joint account, I wonder what would happen @Marchitiello do you know anything about how the existing accounts are being handled, given you seem well informed on no new accounts being offered, or is this just based on your experience of getting a non-linked (joint) new account for a family member. Welcome views from others too who might have tried something similar.

Marchitiello

Silverstone11 said:

I’ve got a Child branded account. I was thinking of changing it to a joint account, I wonder what would happen @Marchitiello do you know anything about how the existing accounts are being handled, given you seem well informed on no new accounts being offered, or is this just based on your experience of getting a non-linked (joint) new account for a family member. Welcome views from others too who might have tried something similar.

I am not sure what happens with any bank about “changing” a sole account to a joint account. I have personally always opened joint accounts from scratch and retained all my solo accounts (both my wife and I have several solo accounts and an handful of joint accounts, each offering a specific benefits and/or meeting a specific need). I have also had no need to open an additional account since the changes, but before, any new account opened for you or your child, would be assigned your oldest /main sort code. However, when my daughter turned 11 recently, and we tried to open a child current account (she already had a First Saver assigned to Drummonds) she got given a new, random/generic, RBS sort code and after a lengthy investigation by the Premier team, there is no way to get Drummonds sort code assigned to any new account (also
confirmed by the doorman /assistant you meet in branch). I am guessing the writing is on the wall for both brands. 

Silverstone11

Marchitiello said:

Silverstone11 said:

I’ve got a Child branded account. I was thinking of changing it to a joint account

I am not sure what happens with any bank about “changing” a sole account to a joint account. after a lengthy investigation by the Premier team, there is no way to get Drummonds sort code assigned to any new account (also
confirmed by the doorman /assistant you meet in branch). I am guessing the writing is on the walk for both brands. 

Thanks for the really helpful info. While understandable for Child and Co, given RBS has effectively closed it as a brand and very much closed the branch, it seems odd for Drummonds, given the brand and the branch are still alive and well for now! I walk past the branch fairly often and whilst not busy, I see people heading in and out fairly often.

The_Groat_Counter

Just to resurrect this somewhat esoteric subject…

I assume, from having read various posts, that it very much is game over for anyone who might wish to open a Child & Co. account?

(And ditto for Drummonds by the looks of things…)

confederated

https://forums.moneysavingexpert.com/discussion/comment/81882272#Comment_81882272

Yes. There is no way to open a Child & Co account, or a Drummonds account for us lesser mortals. I strongly suggest that Child & Co accounts will transition to standard RBS accounts at some point. It makes no sense to use a brand which doesn't actually exist in the real world and where there is no USP.

WillPS

https://forums.moneysavingexpert.com/discussion/comment/81882454#Comment_81882454

It does still exist, and there is a USP, it just doesn't have a public facing shopfront any longer (nor a back entrance, for that).

I've yet to see any evidence they've stopped their core offer of bespoke banking services to the legal professions.

confederated

https://forums.moneysavingexpert.com/discussion/comment/81882581#Comment_81882581

Are you saying that members of the legal profession can apply for a Child & Co account? How would they do that? Can a solicitor apply? I'm not convinced. If the Child & Co brand is not accepting new customers it is as dead as Cahoot for current account customers. There has to be a mechanism for the legal profession to apply for an account if what you say is true.

[Deleted User]

I just tested the old form, the link is totally switched off and dead.

gary1312

https://forums.moneysavingexpert.com/discussion/comment/81883540#Comment_81883540

I believe the brand is directly marketed to the legal professions through their learning institutions and professional associations in the same way that Holts is marketed directly to armed forces personnel and Drummonds to lottery winners.

WillPS

https://forums.moneysavingexpert.com/discussion/comment/81883540#Comment_81883540

The official mechanism is(/was) a referral through certain Chambers or Inns of Court. It's referenced in this thread multiple times.

There was never an "official Child & Co account application form" available online so far as I know, just a form for an RBS account which allowed you to select a sort code (a backdoor, essentially).

If you walked in to the Fleet Street branch when it was still open, and asked for help opening a regular RBS account my understanding is they would have opened an account with the sort code 16-00-80, and you'd have received standard RBS stationary.