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☆☆☆☆☆

“This used to be a good account and acted like a...”

Written on: 30/11/2008 by boo12345679 (1 review written)

Bad Points
Recent (Oct/Nov 2008) rates cuts have not been passed on. 10 or so years of brand development wiped out by short-termism stemming from the executives that run this brand. It just reflects the nature of this countrys banking executives and the reason we are a mess in the first place. They could have taken the pain for a short while to protect the brand, instead decided that destroying the value of the brand was a price worth paying probably to save their bonuses for the year. The price was not worth paying if you look at the cost it would take to develop such a brand name, but then whos looking? These executives should be made to pay back the goodwill they have destroyed.
As soon as things have settled I will be moving my funds out.

General Comments
This used to be a good account and acted like a tracker until recently (2008). The service was also pretty good and really friendly. The rate of interest charged was pretty fair and scaled depending on the loan to value which meant the more of the loan you paid off the less the interest charges became. The phone was answered pretty quick and at the customer services end they were mostly clued up, as expected for a brand that was created by Mr Branson, though I dont think he owns the brand anymore. I basically did not have any problems running the account which was really good.

There are plenty of one account type accounts around, however I will from now on avoid the RBS group, which includes Natwest and Virgin One.