Rangewell

Why switch from RBS to Hampden & Co Bank?

By Richard Mitchell
Content writer
Last update: 19 November 20191 minute read
Why switch from RBS to Hampden & Co Bank?

Table of Contents

The surprising news that RBS actually wants its business clients to take their business elsewhere has come as a major surprise to those affected - but it could mean enjoying some important new business benefits.

When the financial crisis struck around 10 years ago, RBS was one of the hardest hit of all UK banks.

It had got into problems so severe that it had to be bailed out by the Government. The taxpayer had to support the bank with an emergency investment of £45bn to shore up the entire financial system.  

Now the Government wants some return on its investment of taxpayers’ money and instructed RBS to help support the growth of a more competitive banking system that is opened up to more players.

It means the bank will need to transfer thousands of small business customers to other banks.

RBS recognises the disruption this could cause and has been forced to make some generous provisions to help customers to look elsewhere. The Business Banking Switch scheme will assist the transfer of thousands of customers to other banks - with £275m given to market challengers to support their offers to small business customers.

There will be a further £75m provided to customers by RBS to cover the costs of switching. RBS will get in touch with all businesses affected -  but if you have questions you want answered now and need to talk to independent experts you can call us on 0330 808 8802 or email switchrbs@rangewell.com 

At least 11 challenger banks will be financed under the scheme. It means if you are an RBS customer you should be able to take your pick of banks eager for your business - and of offers much better than those normally available for businesses moving their accounts.

Hampden & Co and your business

Banks participating in the scheme range from the familiar - although smaller - high street names to private banks. One of these is Hampden and Co.

Hampden is a private bank based in Edinburgh and promises clients banking services tailored to their needs and circumstances. A Private Banker will tailor the services they offer to suit your needs and your business interests, allowing customers to pick the services they use. Along with the traditional approach, Hampden offers digital banking to those who value it - but recognises that many clients choose not to bank online.

You may have questions about finding the right bank for your business, and whether or not Hampden is for you. Call us on 0330 808 8802 or email switchrbs@rangewell.com for an expert view

Can we help you make the right decision?

Whether your business will switch to banking with Hampden or one of the other ten banks eligible for the scheme will, of course, be your decision.

There are many factors to consider. You may prefer the convenience of more personal service, and a business manager who knows both you and your business. You may need a local presence. You might prefer the convenience of 24/7 online services, and an entrepreneurial approach which matches your own.

Keeping costs down might be your key priority.

Whatever your needs you may want to call on some expert insights to make they are met. At Rangewell we work with banks and other lenders in the UK.  We have a team of experienced former RBS Business Bankers and Relationship Managers who know the business banking market inside out. It helps us take an objective view of all the banks and what they offer.

Our service is personal - and provided by a team of people who have up to the moment knowledge of virtually every bank and lender in the UK. We work with lenders from high street banks to challengers and private concerns every day to save our clients when they want to fund their businesses. Now we can use that knowledge to support you and your business.

It's a service that could save you money for years to come, but we offer it to you completely free.  It is all part of our commitments to supporting small businesses - and to introduce you to our services

To discuss how leaving RBS will affect you and all the choices available to you now, simply call us on 0330 808 8802 or email switchrbs@rangewell.com to talk to us about your specific questions and issues.

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