RBS Customers – Business Banking Switch Letter

Many clients, including those with long-standing relationships with RBS, are slightly concerned about receiving this week’s letter asking them to switch banks.

The letter provides a good background as to why RBS are doing this, and also has links to an easy to understand website which includes a list of Frequently Asked Questions.

Some clients have, however, been turning to us for comment so here is our stance on the letter.

It is clear that this is very much the beginning of the switching process and to that end, no one really knows exactly how it is all going to work. In particular, there is great uncertainty (and speculation) as to which of the other banks will ultimately be included in the scheme.

If you do chose to register your details with RBS now, then it appears that you will go to the front of the queue to find out how the scheme works when it is finally launched. The website FAQs state that there is no need to anything if you do not wish to do so.

If you need to speak to someone about any aspect of your business banking position, then please contact Martin Ward on 01228 530913 or at martin@doddaccoutants.co.uk

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