Royal Bank of Scotland (RBS) and its subsidiary NatWest could become proactive in refunding the unauthorised overdraft charges that are currently the subject of a High Court test case. According to an internal document leaked to the BBC, the group is drawing up plans for mass repayments, should the seven High Street banks involved in [...]
Royal Bank of Scotland (RBS) has announced that it will freeze overdraft charges for small and medium sized enterprises (SMEs) for one year, from 1st December. In addition, no demands for immediate repayment of loans will be made, through the withdrawal of existing facilities, during the period. The bank’s NatWest subsidiary will extend the same [...]
Royal Bank of Scotland (RBS) is poised to cut around 3,000 jobs from its Global Markets investment banking division, in the coming month. RBS has a presence in over 50 countries and employs around 170,000 people worldwide, approximately 100,000 of whom are located in the UK. Some redundancies are expected at its City of London [...]
The cost of borrowing on bank and store credit cards is continuing to rise, despite recent cuts in the Bank of England’s base rate. Latest research from financial analyst, Defaqto, shows the average annual percentage rate for credit cards rising from 17.2% in May to 17.6% today, while over the same period the base rate [...]
The NatWest three, the former bankers who were convicted of fraud in the US in connection with the collapse of Enron, are to serve the last few months of their 37 month sentences in the UK. Gary Mulgrew, Giles Darby and David Bermingham who conspired with Enron’s chief financial officer to steal $7.35 million have [...]
NatWest has launched an EcoGrowth account for those who have £10,000 or more to invest and want their savings to support green issues. One option on the new deposit account contains a fixed-rate cash element, and an element linked to the RBS Green Index, which covers a variety of sectors including biotechnology, hydroelectricity, solar and [...]
Royal Bank of Scotland (RBS), NatWest and American Express are the latest institutions to be standing in the dock over allegations of lax security around customers’ data. The banks and credit card provider need to answer the astonishing accusation that the personal and account details of around one million customers were contained on a computer [...]
ClearMyMail, the company that specialises in anti-spam, anti-virus and anti-phishing protection, has published a list of the 10 financial services companies whose customers are most likely to be targeted by spam and fraud by “phishing”. NatWest heads the list, with 41% of all “phishing” emails blocked by ClearMyMail aimed at the bank. The emails purport [...]
Two leading credit card providers are reducing the interest-free period available to cardholders who settle their balance each month, in full. From 1st January, many NatWest and Royal Bank of Scotland (RBS) customers will discover that they now have days, rather than weeks, to pay credit card bills and avoid interest payments. RBS cardholders currently [...]
The three former bankers dubbed the ‘NatWest Three’ have today learned they are to face a custodial sentence of up to 37 months for their part in fraud allegations surrounding the high profile Enron case after having offered a guilty plea as part of a mitigation process. The former NatWest bankers, all of whom have [...]
The three former UK bankers charged with committing fraud in connection with the Enron case will today appear before a court in the US having been extradited, to be tried under the law of Texas in a Houston courtroom after much debate as to their case. The trio, branded the NatWest Three, will appear in [...]
Royal Bank of Scotland (RBS) and NatWest are issuing new security devices to customers who bank on line. In future, RBS and NatWest account holders who are setting up payments, such as direct debits, will use debit card readers that generate a new code each time they are used. The reader looks like a small [...]
Royal Bank of Scotland (RBS), owner of NatWest, recorded an 11% increase in profit, to a record £5.1 billion, in the six months to the end of June 2007. The performance was particularly strong given that the bank repaid £81million to customers reclaiming bank charges, whilst also footing a £125 million bill for this year’s [...]
NatWest is supporting new businesses with the launch of its Start-Up service which promises entrepreneurs free banking for two years, plus support from a network of over 1,700 locally based business managers, who will be advising clients face-to-face. The offer is aimed at businesses that have begun trading within the last 12 months and the [...]
Moneysupermarket.com, the comparison website, has issued a report highlighting dramatic differences between the unauthorised overdraft charges levied by UK banks. For customers going £60 into the red charges vary from £25 to £133, depending on their bank. The system certainly lacks consistency and could be regarded as unjust. Moneysupermarket.com researched the charges levied by the [...]
