RBS Bank

By: EconomyWatch Content   Date: 29 October 2009

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Established in 1727, RBS Bank or the Royal Bank of Scotland has become one of the largest financial groups in the world. Building upon years of experience in providing financial services, RBS Bank offers comprehensive financial solutions to retail, enterprise and corporate customers. Incorporating the tools of modern banking, RBS has developed online and mobile banking services as well.

RBS Bank: Company Profile

RBS Bank is the banking arm of the UK-based financial group, The Royal Bank of Scotland plc. The group also owns several other brands, such as NatWest, Direct Line, Coutts, Churchill, Citizens and Ulster Bank. The group boasts approximately 40 million customers globally. Out of these, 25 million customers are in the UK itself. RBS’ operations in the UK are facilitated by 2,278 branches and 118 subordinate business centers, according to the 2009 data. To provide banking facilities to countryside areas, RBS Bank has 20 mobile banking units.

RBS Bank: Products and Services

RBS Bank has classified its products and services under the categories of personal banking, private banking, business banking and corporate banking. As the names suggest, the first two services are aimed at retail customers, while the last two focus on business clients. Standard banking tools available with RBS Bank are:

  • Current accounts: RBS has different current accounts for individuals with varying financial needs such as students, young earners, high-income group and senior citizens.

  • Credit cards: RBS offers classic, gold, platinum and exclusive Royalties Gold credit cards.

  • Mortgages: Mortgaging and remortgaging services are available for new and existing customers.

  • Loans: Student and personal loans can be purchased from the bank. Online loans offer discounts on existing interest rates.

  • Savings: Different saving plans are available, such as medium term savings, tax savings and instant access savings.

  • Others: RBS offers investment, insurance and international banking services as well.

RBS Bank offers digital banking services, which allow customers to check account details, pay bills, transfer money and manage their spending online. The bank has set up several security gateways, such as a specialized fraud detection system, log-in security, Verified by Visa and MasterCard SecureCode, to ensure safe online banking.

To enhance the financial literacy levels among citizens, RBS Bank has developed the MoneySense service. This service helps to educate both children and adults through online tutorials and workshops on different topics related to everyday banking.


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