Millions on account holders with RBS who have been expecting the transfer of their accounts into the hands of Santander will be surprised to learn today that the deal is off. I have been a RBS account holder for decades so I know how they feel. I was one of the account holders who was told the account was being given over to Santander. Not something I wanted and whilst I know I could decide to move my account quite frankly changing a current account is such a hassle I decided to sit tight. So for the moment actually I, and I suspect many others, will be quietly relieved. Unfortunately, RBS are still need to try and sell hundreds of branches by the end of next year so millions of RBS account holders could still find themselves under the wing of another a bank.
These customers may well ask why? Why should RBS be forced to sell off some branches. There is hardly a demand for it. Well it is all down to the rules of the European Union. When the NatWest and RBS were bailed out by the Government the EU decided to intervene and say that if our Government were going to help one of our Banks they were going to intervene and tell us – or rather tell RBS – what to do. Yet another reason why I believe we would be better off out. Why should the EU tell the Companies of this Country what to do? As usual with the EU there is no question of consulting the customers. Simply a case of do as we say.a