Current accounts - Royal Bank of · PDF fileSimple, everyday current accounts Choose a current...

Current accountsHelping you get more from everyday banking

90090776.indd 1 20/07/2011 23:15Generated at: Wed Jul 20 23:19:25 2011

The RBS Customer Charter

Our commitment to youWe want to be Britain’s most helpful bank. So we started by asking you what you wanted from us. You told us you wanted four things:

To make banking easier

To help you when you need us

To support the communities we live and work in

To listen to you

In June 2010 we made our commitment public by launching our Customer Charter, a set of 14 promises based on what you told us was most important to you. We also made a commitment to have an independent company assess our performance every six months and to publish the results so you can judge our performance for yourself.

We are encouraged by the improvements we have made, and hope that our willingness to be open about where we’ve fallen short of our goals will give you confidence in our commitment to seeing these improvements through.

To read our Customer Charter, go to rbs.co.uk/ourcharter

The RBS Customer Charter


Contents Our current accounts can help you make more of your money. We have accounts that include travel, leisure and protection benefits if you pay a monthly fee. Or we have basic current accounts that give you the essentials of current account banking. So with our help, you’ll find the one that’s right for you.

Simple, everyday current accounts 4Select Silver Account and Royalties Gold Account – both with benefits included 6Black Account – a private bank account with benefits included 10Student and Graduate Accounts 12Our Revolve Account, for under 18s 14Switching to RBS 15Overdrafts 17Debit cards 18Ways to bank with us 19Your next steps 21What happens after you apply? 23How to apply 27


Simple, everyday current accountsChoose a current account that keeps things simple.

Visa Debit card – withdraw up to £300 a day at RBS, NatWest and Ulster Bank branded cash machines within the UK and Gibraltar. Withdrawals can also be made from any RBS or Post Office® branch counter, from any cash machine outside the UK and Gibraltar which displays the Visa logo and from retailers that offer cashback. You can also use your card to make purchases in store and online. (Charges apply for overseas transactions.) UK call centres – all our call centres are in the UK. RBS branches – we have more than 650 branches in the UK. Award-winning Digital Banking – Your Money Direct award for Best Online Banking Provider 2011. Text alerts – you can receive text alerts about your balance, helping you keep on top of your finances. Access to emergency cash – if your card is lost or stolen you can still get access to the money in your account by using our 24-hour Emergency Cash service. If you are an online or telephone banking customer you can withdraw up to £300. If you aren’t you can still withdraw up to £60 to tide you over. These amounts are providing you have the money available in your account. As a minimum you must have £25 available to use this service. No overdraft facility – there’s no arranged overdraft or any other credit available with the Basic Account. No membership fee.

Basic AccountThis is our most basic account. It comes with a Visa Debit card that lets you withdraw your money from any RBS, NatWest or Ulster Bank cash machine within the UK and Gibraltar or over the counter at any UK Post Office. You also get lots of practical ways to help manage your account.

4 To find out more visit rbs.co.uk/currentaccounts


Call 0800 148 8328 or visit your local branch 5

Did you know?Our Select Silver and Royalties Gold accounts include travel insurance that has been rated as 5 Star by the independent financial research company, Defaqto. The monthly fee for Select Silver is £8 and for Royalties Gold it’s £12.95. Go to page 6 for more information.

Select AccountAll the essentials to make everyday banking easy for you. You can control your money online or over the phone. You can also apply for an overdraft to help manage your finances and give you that extra flexibility.

Visa Debit card – you can use your debit card to pay for goods or services in stores or online and to withdraw up to £300 from any cash machine in the UK and abroad that displays the Visa logo. (Charges apply for overseas transactions.) UK call centres – all our call centres are in the UK. RBS branches – we have more than 650 branches in the UK. Award-winning Digital Banking – Your Money Direct award for Best Online Banking Provider 2011. Text alerts – you can receive text alerts about your balance, helping you keep on top of your finances. Access to emergency cash – if your card is lost or stolen you can still get access to the money in your account by using our 24-hour Emergency Cash service. If you are an online or telephone banking customer you can withdraw up to £300. If you aren’t you can still withdraw up to £60 to tide you over. These amounts are providing you have the money available in your account. As a minimum you must have £25 available to use this service. No membership fee. Overdraft – an overdraft is available to those who meet certain conditions. Over 18s only. Cheque book – you can get a cheque book if you’d like one.


Accounts with extra benefitsIf you want to get a bit more from your account you could be better off with one that has benefits and discounts included as well as the standard features of the Select Account. All designed to help you and to save you money.

5 Star Defaqto rated UK and European Travel Insurance annual insurance including winter sports cover covers you and joint account holder for trips up to 22 days in length within the UK and Europe any customer with an existing medical condition must call us for screening – you may be required to pay a premium for cover, or we may decide not to cover you for this condition. Persons aged 70 years and over must call us each year in order to obtain cover and will be required to pay an annual premium of £50 per account and be medically screened.

Mobile Phone Insurance includes iPhone and BlackBerry up to £750 (incl. VAT) for theft, loss or damage covers unauthorised calls up to £1,000 (incl. VAT) for monthly contracts and £100 for pay-as-you-go phones joint accounts will cover one phone per person cover starts 14 days after you register your phone.

Identity Theft Assistance fraud prevention and resolution service includes Experian credit report monitoring includes alerts, and personal caseworker for victim support.

Select Silver Account – £8 a monthThe Select Silver Account includes insurance cover for you and your possessions, as well as some useful lifestyle benefits. Mobile phone insurance and 5 Star Defaqto rated travel insurance also come included as part of the package.




hmvdigital Music Downloads choose from 13 million tracks download up to five tracks to your device per month hmvdigital terms and conditions apply internet access required.

LOVEFiLM DVD Rentals 70,000 movies to choose from rent up to three DVDs or Blu-rays per month two hours entertainment streaming direct to a computer, Internet enabled TV or PS3™ LOVEFiLM’s terms and conditions apply internet access required.


Accounts with extra benefitscontinued…

Tailored rates on fixed rate loans and preferential rates on overdrafts access to a mortgage offer.

Mobile Phone Insurance includes iPhone and BlackBerry covers handsets up to £1,000 (incl. VAT) covers unauthorised calls up to £1,000 (incl. VAT) for monthly contracts and up to £100 (incl. VAT) for pay-as-you-go phones joint accounts will cover two registered phones this cover starts 14 days after you register your phone.

5 Star Defaqto rated UK and Worldwide Travel Insurance annual insurance including winter sports coverfor trips up to 31 days in length covers you, your partner and dependent children under 18 (or under 23 if living at home, and in full-time education) children only covered if travelling with parent insured under the policyany customer with an existing medical condition must call us for screening – you may be required to pay a premium for cover, or we may decide not to cover you for this condition. Persons aged 70 years and over must call us each year in order to obtain cover and will be required to pay an annual premium of £50 per account and be medically screened.

Royalties Gold Account – £12.95 a monthOur 5 Star Defaqto rated Royalties Gold Account includes a range of money saving benefits, such as travel

insurance, mobile phone insurance and car breakdown cover. Our travel insurance has also been rated as 5 Star by Defaqto, the independent financial research company.




10% discount on your first year’s car insurance subject to minimum premium criteria.

Accidental Death Cover up to £15,000 cover for accidental death (split equally between joint account holders) persons aged 70 and over will have their cover reduced by 50%.

Identity Theft Protection providing £5,000 worth of cover for expenses incurred by you in defending and restoring your credit status after fraudulent activity, including:

– a complimentary credit report, – online card monitoring, and – CIFAS protective registration.

25% cashback on top gigs and live shows bookings of up to six tickets per event book via Royalties Gold Membership Services online or over the phone.

Home Emergency Cover pays up to £500 (incl. VAT) for emergency repairs to your home.

Green Flag cover UK car breakdown cover including Home Call covers all cars registered to you at your home.

Access to our Royalties Saver Account preferential rates for Royalties Gold customers minimum balance £2,000.


Black Account If you are a Private Banking customer you may also like to consider our Black Account. This is our premium account with our highest levels of travel, protection and leisure benefits.

Black Account – £24 a month A wealth of attractive benefits come with our 5 Star Premier Defaqto rated Black Account. Some make your

life easier, some help you enjoy it more, and all of them could save you money.

Travel5 Star Defaqto rated UK and Worldwide Travel Insurance

annual cover for trips of up to 90 days covers you, your partner and any dependent children under 18 years or under 23 if living at home, and in full time education any customer with an existing medical condition must call us for screening – you may be required to pay a premium for cover, or we may decide not to cover you for this condition.

Worldwide Airport Lounge Access access to 560 VIP airport lounges worldwide for joint accounts both parties must register to use this benefit.

Black Travel Service save 10% on travel, including holidays, flights and accommodation, when booking through the Black Travel Service.

LeisureBlack Tickets Service

25% cashback on bookings of up to six tickets on concerts, theatre shows, musicals, operas and sporting events throughout the UK and Irelandcan be used up to four times a year.

24/7 Black Concierge Service can help you organise everything from car hire to booking a table at your favourite restaurant.

10 For more details of our Black Account visit your local branch


Or call us on 0800 051 9955 11

ProtectionHome Emergency Service

up to £750 cover (incl. VAT) for emergency call out and repairs covers both your main and second homes in the UK does not apply to rented properties you own.

Mobile Phone Insurance includes iPhone, BlackBerry and other handsets worth up to £1,250 (incl. VAT) covers unauthorised calls up to £2,500 (incl. VAT) for monthly contracts and up to £100 (incl. VAT) for pay-as-you-go phones, covers loss, theft, damage and unauthorised calls, for up to four registered phones this cover starts seven days after you register your phone.

Green Flag cover car breakdown cover anywhere in Europe, including Home Call covers all cars registered to you at your home cover outside the UK will not apply to vehicles over 10 years old.

Identity Theft Assistance fraud prevention and resolution service includes Experian credit report monitoring online data patrol of personal details and a personal caseworker for victim support.

Card Protection protects all your lost and stolen cards covers you against unauthorised use up to £20,000 per account holder.

Benefits of Private Black Credit Card Access to our YourPoints rewards programme –

get 1.25 points for every £1 you spend on qualifying transactions with your card redeem these at Harvey Nichols, Boots, Marks & Spencer and more.

Offers and opportunities our range of inspiring opportunities is carefully chosen to appeal to Private Black Credit Card customers. From time to time, we’ll invite you to events like champagne receptions, private gallery viewings and designer shopping evenings.

Private Black Credit Card To add to the privileges of a Black Account, you can also apply for our Private Black Credit Card. It comes with all the standard benefits of a credit card, and is also our highest earning YourPoints card. All for no additional fee.

Representative 14.9% APR (variable)


Student and Graduate AccountsTo help you manage life and study at university and beyond, we’ve created two current accounts – one for when you’re studying, the other for when you’ve graduated.

You get an interest-free overdraft of up to £1,000 in your first year, increasing to up to £2,000 in your fifth year.We apply your overdraft limit gradually in the first year, i.e. up to £500 first term, up to £750 second term and up to £1,000 third term.To get an interest-free overdraft you’ll need to be 18 or over and use the account as your main account. You’ll need to make at least three withdrawals every month and make at least one payment to the account every three months. If you don’t we could decide to remove your interest-free overdraft. You must pay off the full overdraft if we ask you to.We give you a Visa Debit card which you can use at home and abroad. There are charges for your card abroad. Visit rbs.co.uk/debitcards for more information.You can manage your account over the phone or online and check your balance and statements on your mobile phone.You can top-up mobile phones from any of our cash machines.Your RBS Student Account must be used as your main bank account, receiving regular deposits.

Student AccountWe’ve created our Student Account to make it easier for you to manage your money. And you can manage your account online or from your mobile phone, when you can’t get to a branch. You’ll need to have your permanent home in the UK and be on a full-time undergraduate higher education course that lasts for two years or more, or a full-time postgraduate course.




The overdraft you get helps you move gradually from an interest-free overdraft to one that charges interest. For the first year you won’t have to pay interest on any arranged overdraft of up to £2,000. From year two the amount you get interest-free gradually reduces, so that you start to pay interest on any amount over the interest-free limit.

If you graduate before 1 January 2013, the following interest free limits will apply.

Year Overdraft available Interest-free limit1 Up to £2,000 £2,000

2 Up to £2,000 £1,500

3 Up to £2,000 £1,000

To apply for an overdraft you must be 18 or over. You must pay off the full overdraft if we ask you to.

After 1 January 2013, our Graduate Account changes. If you graduate after this date the following interest-free limits will apply.

Year Overdraft available Interest-free limit1 £2,000 £2,000

2 £2,000 £1,000

We give you a Visa Debit card which you can use at home and abroad. There are charges for using your card abroad. Visit rbs.co.uk/debitcards for more information.

Graduate AccountIf you’ve left university, our Graduate Account can help you look after your money while you wait for your first payslip.

Did you know?If you’re opening a Student Account, you could apply for our Student Credit Card as well. Visit rbs.co.uk/students for more information.


Our Revolve Account, for under 18s If you’re between 11 and 18, open your own Revolve Account and earn interest on everything you pay in. And you can design your own debit card too, so it’s unique.

Your cash and card

Get your own debit card to use online and in shops. For just £5 you can decorate your card with your own photo or artwork. See how yours could look at rbs.co.uk/revolve

You can take cash out of your Revolve Account whenever you need it. When money is in you account, it’s earning you interest.

Your tips and rewards

Go to the Revolve website to find lots of tips about looking after your money. You can also earn extra money by signing up to answer questions and share your views – it’s that easy. We also offer money off at some top stores.

14 To find out more visit rbs.co.uk/revolve



How our Switcher Service works

Sign a simple switching form when you open your new account and we will: Transfer all your standing orders and Direct Debits to your new account.Ask your existing bank to cancel all payments.Provide you with letters detailing your new RBS account details to send to all the people or organisations who pay money into your account.Ask your existing bank to close your account and transfer your money over.Transfer any savings accounts you may have elsewhere – it makes things easier if you have your accounts in one place.

What we ask you to do is pass on the letters we give you to those who pay money into your account (e.g your employer, pension or child benefit provider), and return all cheque books and debit cards to your existing bank.

Switching banksIf you think one of the accounts we’ve introduced you to here would suit you better than the one you already have, you can switch your current account to us. To make the most of your account you can switch all your income, standing orders and Direct Debits to us. We have a Switcher Service that will take care of everything for you. Or, if you’d prefer, we’ll set out what you need to do and you can sort it out for yourself.



How to switch accounts yourself

If you don’t want to use our Switcher Service we’ve pulled together a handy checklist of things that you need to think about when switching your account over.

1. Redirect your income to your new account by completing a credit re-direction letter (we can provide an example of this for you).

2. Get a list of all the regular payments (standing orders and Direct Debits) from your old bank.

3. Contact the companies you have Direct Debits with and ask them to take those payments from your new RBS account. Information about switching Direct Debits should be available on their websites, or you could give them a call. It’s worthwhile taking a note of when these will be set up from.

4. Cancel all your standing orders with your old bank and set them up on your new account. This can usually be done online, in branch or over the phone. It can take a few days, so make sure you do it well in advance of the first payment date.

5. Once you’re comfortable that all standing orders and Direct Debits have been switched over, you can close your old account.



Once you’ve applied, and we’ve taken your circumstances into account, we can agree your overdraft limit.

What else do you need to know?

To apply for an overdraft, you must be 18 or over and have a Select, Select Silver, Royalties Gold or Black Account.Overdraft rates can change.You can talk to us about reducing your overdraft limit – or increasing it – at any point.You must pay off the overdraft when we ask you.

Please note that even if you do not have an arranged overdraft on your account, if your account goes into an unarranged overdraft position, you will normally have to pay a Returned Item Fee of £6 for any transactions declined by us and/or an Unarranged Overdraft Fee of £6 per day for unarranged overdrafts greater than £6. An unarranged overdraft is created when your account becomes overdrawn without prior arrangement or any arranged overdraft limit is exceeded. Please refer to our leaflet ‘RBS Personal & Private Current Account Terms and Conditions’ for further details.

OverdraftsIf you need extra money an overdraft could help. And, as long as you arrange it with us first, it will protect you from fees and charges for unarranged borrowing.


Use your card to pay for goods and services in shops, online and over the phone.

There is a charge for using your debit card abroad. For more information, visit rbs.co.uk/debitcards or go to your local branch.

When you use your Visa Debit card to pay for things abroad, we’ll convert the amount you spend into Sterling using the current exchange rate before we take money from your account. Each time you use your card you will also have to pay an Exchange Rate Transaction Fee of 2.75% of the amount you’ve spent plus a charge of £1.25.Shop safely online with RBS Secure. Once you’ve registered, whenever you shop online you’ll be asked to enter a password to approve the payment. This helps to prevent fraud on your account.If you buy something using your Visa Debit card and it’s not delivered or is damaged, we could help you to get your money back. You’ll need to contact the retailer first. But if they can’t help, contact us straight away.Save time queuing to withdraw money and get cashback at thousands of UK shops. There’s no charge for getting cashback.Get cash when you’re abroad from over one million Visa cash machines worldwide. There is a charge for this service. For more information visit rbs.co.uk/debitcards or ask in one of our branches.If your debit card is ever lost or stolen you can still get access to the money in your account by using our 24-hour Emergency Cash service. If you are an online or telephone banking customer you can withdraw up to £300. If you aren’t you can still withdraw up to £60 to tide you over. These amounts are providing you have the money available in your account. As a minimum you must have £25 available to use this service.

Debit cardsWith all our current accounts you’ll get a Visa Debit card. You can use this for your everyday purchases, no matter how small, in the UK or abroad.

18 To find out more visit rbs.co.uk/debitcards or visit your local branch


To find out more visit rbs.co.uk/waystobank or visit your local branch 19

Digital Banking

Manage your money, whenever and wherever you like with Digital Banking.Get up-to-the-minute balances and mini-statements.See your statements online – going back up to seven years.Make instant transfers between your RBS accounts, pay bills and make payments to other people.

Keeping you safe

Our market-leading Rapport software helps protect your online banking log-in details, keeping your identity safe. For more information visit rbs.co.uk/rapport

24-hour UK-based Telephone Banking

As part of our Customer Charter commitment to become Britain’s most Helpful Bank, all our 24-hour telephone banking centres are based in the UK and we aim to answer calls in less than a minute. Plus, we’ll always give you the option to speak to a real person.

You can: check your balance and review transactionstransfer money instantlypay bills and order foreign currency set up or amend standing orders.

And once you’re registered for telephone banking you’re all set up to use Digital Banking too.

Ways to bank with usLike everything in life, one way of banking that suits one person might not be right for another. So wouldn’t it be better if you could choose how to bank with us? We think so. That’s why we give you all the options and leave the decision to you. So what are the options?


20 To find out more visit rbs.co.uk/waystobank or visit your local branch

Mobile Banking

You can use mobile banking on almost all mobile phones. Just check that your phone can support Java, can connect to the internet using WAP or 3G and has at least 64 kilobytes of free memory.

Standard network message rates apply when using the service and extra network charges can apply when you use the service abroad. It’s important to check this with your network provider.

For more information go to rbs.co.uk/mobile

New mobile iPhone app

With our new and improved iPhone app you can do your banking on the move.

The app lets you see all your RBS account balances and mini statements, as well as transfer money between your RBS accounts. There’s a handy cash machine and branch locator too. You need to be a Digital Banking customer to use the app. To find out more, visit rbs.co.uk/iphone

Standard data download charges may apply. Contact your network operator for details.



Do you need more information on our current accounts?

If you’d like more information, you can go online, or speak to someone in branch, or over the phone. You can also read all our terms and conditions in our ‘RBS Personal & Private Current Account Terms’, ‘Personal & Private Current Account Fees & Interest Rates’ and ‘Helping you get the most from your Personal & Private RBS Current Account’. leaflets. You can get these from our branches or online at rbs.co.uk/currentaccounts

Ready to apply?

Know what you want to get out of your current account? Decided which type of account will be best for you? Then go to the next page to see how to contact us and apply.

What we’ll need

Along with a filled-in application for the account you want to open, you’ll need to give us proof of your identity. We will accept any one of these:

A current signed passport.If you are not an EU National, a passport with a valid Visa.EU National ID card.A UK Armed Forces ID card.A current full UK driving licence (if you’re over 17).A benefit book or an original notification letter from the Benefits Agency (including Department for Work and Pensions). A letter from HM Revenue & Customs.For students, a current student ID or matriculation card from a recognised university or college.For under 18s, a UK birth certificate or adoption certificate.

Your next steps


We will also need an original of one of the following as proof of your address:

A gas, electricity or phone bill (not for a mobile phone) you’ve received in the last six months.A council tax bill that is less than 12 months old.A bank or building society statement issued within the last six months.For students, a UCAS letter or an acceptance letter from a university or college.

If you haven’t got any of these items, we might be able to accept something else. Visit us in branch for more information.

For an overdraft we also need either of the following:

Your last three months’ bank statements; orProof of your income, such as your last three payslips.

22 Call 0800 148 8328 or visit your local branch


23

As soon as we receive and process your application we’ll open your account.Within 10 days of opening your account you’ll receive your debit card and Personal Identification Number (PIN). For security we’ll send these to you separately. It’s important to activate your card so make sure you do this as soon as your card arrives.You’ll also receive a welcome pack which contains everything you’ll need to know about your new account. Your welcome pack will provide you with details on how to set up digital and telephone banking.If you have opened a Select Silver Account, Royalties Gold Account or Black Account your welcome pack will also contain details of how to register for all the benefits associated with these accounts.You could also move any existing Direct Debits and income payments to your new account.If you are using our Switcher Service we’ll begin to move over your existing Direct Debits and keep you informed on how it’s going.

We’ll also be in touch over the next few months to check on how things are going and help you make the most of your account.

What happens after you apply?


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Notes


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Notes


Notes

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How to applyNow we’ve explained what you need to open your current account, this is what to do next:

Talk to us at your nearest RBS branch or go to rbs.co.uk/currentaccounts and apply online.

Or you can call us on the following numbers. Calls may be recorded.

General enquiries and more information on Visa Debit cards or how to switch banks (except Black Account) Phone 0800 148 8328 (Minicom 0800 404 6160)8am to 8pm Monday to Friday, 9am to 5pm Saturdays and 10am to 4pm Sundays.

Black Account enquiriesCall us on 0800 051 995524 hours a day, 7 days a week.

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To find out more visit rbs.co.uk/currentaccounts28

iPhone and iTunes are trademarks of Apple Inc. BlackBerry is a trademark of Research in Motion Ltd. Credit facilities – over 18s only. Calls may be recorded.

The Royal Bank of Scotland plc.Registered Office: 36 St Andrew Square, Edinburgh EH2 2YB.Registered in Scotland No. 90312. RBS 06842 25 July 2011

Other useful numbersIf you’re interested in our current accounts, why not also see if you’d be better off with one of our loans, mortgages or savings accounts? Here’s how to find out more:

You can speak to someone in your local branch or visit rbs.co.uk

Alternatively call us on the following numbers. Calls may be recorded.

Savings accounts Call 0800 148 83308am to 8pm Monday to Friday, 9am to 5pm Saturdays and 10am to 4pm Sundays.

MortgagesCall 0800 068 76758am to 8pm Monday to Friday, 9am to 4pm Saturdays.

LoansCall 0800 121 1218am to 8pm Monday to Friday, 9am to 6pm Saturdays.

Customers with hearing and speech difficulties can contact us by

Minicom 0800 404 6160.


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