The
Royal Bank of Scotland
The Royal Bank of Scotland
(RBS) is a force to be reckoned with on the world banking market
as one of the largest banks in the world by market capitalisation
(Ranking fifth at the moment). From its beginning in the eighteenth
century in Scotland’s capital, to the largest takeover in
British banking history when it acquired National Westminster,
The Royal Bank continues to adapt itself to an ever expanding
customer base.
RBS have always
been at the forefront of new and better banking methods. Proving
they don’t shy away from technology and progress, they undertook
the largest ever integration of IT systems following the merger
with Nat West. An ambitious project, they actually completed it
four months ahead of schedule.
A strong emphasis on customer
focus led to the huge success of telephone banking after its launch
in 1994 and the launch of internet banking in 1997- the UK’s
first online banking service- set the benchmark for the rest.
24 hour Internet and telephone
banking are free to customers and allow you to pay bills, manage
direct debits, transfer money, order chequebooks and a host of
other timesaving services. Customer satisfaction ratings on these
services are generally high.
Other financial services offered
are what you would expect from a large bank, catering for both
corporate and personal financial needs.
A range of personal credit cards
is available- the Classic and Gold cards are offered at the moment
at a typical APR of 17.9% (variable), the Platinum at 15.9. All
of these cards are 0% interest for 6 months on purchases and balance
transfers and are fee free. There is also a range of affinity
cards supporting different charities and offering different incentives.
The personal loans
online service has a range of loans from 6.2 to 12.8% with a typical
APR of 7.5%. A loan can be agreed in principal in minutes and
they are available to non-RBS customers. There is loan protection
available if required.
Other loans include graduate
loans, career development loans and further advances (a way
for homeowners to borrow money at mortgage rates, a mortgage is
not required, but applicant must be a homeowner. The actual range
of mortgages is of course very comprehensive and ranges from first
time buyer to buy to let.
Other services worth a look
are the online financial health check, royalties accounts (offering
savings on all sorts of products and services) and travel insurance.
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