RBS business banking switch
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ballisticbrian
Posts: 3,937 Forumite
RBS business banking switch
I don't know if this attempt to get their customer to switch is something going on across all banks or not but has anyone switched banks based on the offers received through your bank?
I did ask on here a couple of years ago if there are any free business banking accounts anymore and most people said there's hardly anything left, but there are a few free business accounts with strings attached (e.g. stay in credit by 5000 or do less than 50 transactions per month which I could quite easily do)
The problem I have, is I've had a free account with RBS for many years - it's not cost me a penny, but all the offers are waiving £750 - £850 at me and I have no way of telling how long the free banking offers last once you've made the switch. i.e. the new bank can change it's terms when it likes.
RBS has obviously been in a bit of a pickle recently; first there was going to be a transfer to Williams and Glynn, then they back tracked, then they were going to introduce charges on free business banking accounts, then they back tracked on that, so it's possible RBS could yet introduce charges. To me it's a better the devil you know scenario.
I don't know if this attempt to get their customer to switch is something going on across all banks or not but has anyone switched banks based on the offers received through your bank?
I did ask on here a couple of years ago if there are any free business banking accounts anymore and most people said there's hardly anything left, but there are a few free business accounts with strings attached (e.g. stay in credit by 5000 or do less than 50 transactions per month which I could quite easily do)
The problem I have, is I've had a free account with RBS for many years - it's not cost me a penny, but all the offers are waiving £750 - £850 at me and I have no way of telling how long the free banking offers last once you've made the switch. i.e. the new bank can change it's terms when it likes.
RBS has obviously been in a bit of a pickle recently; first there was going to be a transfer to Williams and Glynn, then they back tracked, then they were going to introduce charges on free business banking accounts, then they back tracked on that, so it's possible RBS could yet introduce charges. To me it's a better the devil you know scenario.
Warning: any unnecessary disclaimers appearing under my posts do not bear any connection with reality, either intended, accidental or otherwise. Your statutory rights are not affected.
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ballisticbrian wrote: »RBS business banking switch
I don't know if this attempt to get their customer to switch is something going on across all banks or not but has anyone switched banks based on the offers received through your bank?
I did ask on here a couple of years ago if there are any free business banking accounts anymore and most people said there's hardly anything left, but there are a few free business accounts with strings attached (e.g. stay in credit by 5000 or do less than 50 transactions per month which I could quite easily do)
The problem I have, is I've had a free account with RBS for many years - it's not cost me a penny, but all the offers are waiving £750 - £850 at me and I have no way of telling how long the free banking offers last once you've made the switch. i.e. the new bank can change it's terms when it likes.
RBS has obviously been in a bit of a pickle recently; first there was going to be a transfer to Williams and Glynn, then they back tracked, then they were going to introduce charges on free business banking accounts, then they back tracked on that, so it's possible RBS could yet introduce charges. To me it's a better the devil you know scenario.
"To me it's a better the devil you know scenario"
Then stay with them.
Most introductory offers seem to last between 1 and 2 years - you'll need to refer to the specific terms of the offer.
I'm not aware of any where the introductuctory offer is changed once it has commenced for a particular customer.0 -
OK, yes but I think you missed the aim of my question:
Certain banks are offering you not an introductory offer of free banking but actual free banking. They first of all offer you the hand out (e.g. £750 quid) and then they say you can have free banking if you stay in credit by x amount or you do less than x transactions a month. These aren't introductory offers, they are supposed to be the status quo on this offering of an account.
What I want to know is, are they really that, or just another sweetner that dries up when the bank feels like it?
And I understand that no-one can predict the future, but if there are any chronic bank switchers here, do you have any words of wisdom?
Warning: any unnecessary disclaimers appearing under my posts do not bear any connection with reality, either intended, accidental or otherwise. Your statutory rights are not affected.0 -
ballisticbrian wrote: »OK, yes but I think you missed the aim of my question:
Certain banks are offering you not an introductory offer of free banking but actual free banking. They first of all offer you the hand out (e.g. £750 quid) and then they say you can have free banking if you stay in credit by x amount or you do less than x transactions a month. These aren't introductory offers, they are supposed to be the status quo on this offering of an account.
What I want to know is, are they really that, or just another sweetner that dries up when the bank feels like it?
And I understand that no-one can predict the future, but if there are any chronic bank switchers here, do you have any words of wisdom?
Hi, did you make any decisions about switching?
I'm with RBS and the deadline for getting the offers is looming.
I'm beginning to think that the cash incentives will pay quite a lot of bank charges Official DFW Nerd Club - Member no: 203.0
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