If you have, can you drop me an email, Were considering action against them and would like to hear if my experience is unique or not.
Cheers.
simon - there was an article in the Private Eye a few weeks ago about RBS pulling the rug from udner a company. I dont have it with me but can check later this week and post the details.
Personally I have recently used RBS for a development loan for my house build and they have been pretty good. It does help that I have a good relationship with the business manager on the day-to-day side, but equally I think he's to much of a whimpy company guy to stand up to higher level policy diktats should he be put under pressure to give me a hard time on the loan.
Never ever think you have a "relationship" with your bank. There is also no such thing as an "understanding" with the bank - unless it is on paper.
One sure signal that the bank is going to do you over is if you get a new person handling your loan account. That is the time to switch banks.
Had a wicked situation where ASB removed my 150k business loan BEFORE they sent me a letter. Thankfully we noticed and shifted some cash from another account. Had we not they could have sunk us. A business turning over 3m plus and with a mill in the bank. Un-****n-believable and they were clueless. Cost them business from 4 businesses and personal business from 15plus who all were involved. Twunts.
there were a couple of examples in a BBC Radio4 podcast a week or so ago about shoddy lending - RBS kept popping up. I 'think' it was an Analysis episode. I maybe still have a copy in iTunes - drop me a mail jwoffle [AT] googlemailDOT com if you want me to send you it...
I heard the R4 piece too - unbelievably poor treatment of business customers and the guy interviewed from RBS sounded like he needed a damn good shoeing - he didn't give a stuff how many good businesses they had helped fail.
While we have an account with HSBC which is fine, we make sure we never ever rely on them - no loans, no overdraft, nothing that means we have to trust them. Banks have revealed their true colours in the last two years and IMO are now below estate agents and car dealers in terms of credibility.
Themore they advertise theyre doing more for the customer the less oyu should believe them.
With banks youll never win, as they have your money, and a lot of taxpayers money propping them up.
BVest of luck.
suppose this is the price of the public sector running a bank? even worse than the private sector...
[i]Banks have revealed their true colours in the last two years and IMO are now below estate agents and car dealers in terms of credibility. [/i]
I echo those sentiments..We have been with Natwest/RBS for 12 years of successfull trading where the bank made good money from our fees and O/D charges.
After being given a new "special" releationship manager, we had a £100k overdraft facility removed, with a days notice, suprisingly time at a point while we were in credit ! We never recieved notification, only a phone call that I initiated confirmed the removal (this can not be to FSA code of Conduct)
Despite pandering to every demand from the bank in the form of information, cashflow forecasts, budgets, cutting overhead AND 100% guarentees against homes, they will not give £50k OD facility.. but the worst is they will not put in writing, or say for definate that they are refusing the facility.. which makes me very suspicious of there intent... its like there simply waiting until we go away.
Looks like we have to make a formal complaint to RBS.. thats 8 weeks for them to reply, then we take it to the FSA.
Considering we are a profitable company, not involved in housing / development etc our treatment has been beyond belief. I will never ever trust a bank again in my life, and certainly recomend that NO ONE deals with RBS/Natwest... afterall they did do the same thing as this in 1994/5.
Between a rock and a hard place?
The government are pressuring the Banks to minimise risk. At the same time, they're being asked to support many business which will likely go to the wall during this recession.
Not too different to the "before the crash" days when there would be folk on here whinging that the Bank weren't giving them a loan for a house/bike/shiney TV.
RBS - no
HSBC - yes bunch of w*nkers I echo the sentiments of everyone here we are a good profitable company yet because we make things for the construction industry we are a risk to them therefore they do not want our custom. I would quite happily watch them all burn.
On the nat west in Manchester on Deansgate the one they use for the new touchy feely adverts, somebnody has stuck a large sign up ,
R B S, standing for Robbing Bloody Scots, a local told me.