Royal Bank of Scotland

The Royal Bank of Scotland (RBS) is 62% owned by the UK Government.

This is because RBS came near to collapse during the 2007/8 financial crisis, meaning that the Government had to step in to bail it out. Now that the financial sector looks to be in better overall shape, the Government is backing out of its ownership, by selling off tranches of shares at a time to private investors.

As well as the RBS brand, the Royal Bank of Scotland group also own Natwest and Ulster Bank. RBS offers a full range of banking products and also offers insurance products. Its home insurance is underwritten by U K Insurance Ltd.

Royal Bank of Scotland
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Bank accounts

Ranked 29th of 30 providers reviewed.

Customer happiness 43%
Customer trust 31%
Complaints performance 71%
Transparency rating 50%
Fairer Finance score
Reviewed Spring 2019
49%

Credit cards

Ranked 30th of 34 providers reviewed.

Customer happiness 44%
Customer trust 32%
Complaints performance 71%
Transparency rating 41%
Fairer Finance score
Reviewed Spring 2019
47%
Gold ribbon: first place

Home insurance

Ranked 20th of 47 providers reviewed.

Customer happiness 50%
Customer trust 47%
Complaints performance 78%
Transparency rating 55%
Fairer Finance score
Reviewed Spring 2019
58%

Mortgages

Ranked 23rd of 23 providers reviewed.

Customer happiness 45%
Customer trust 28%
Complaints performance 69%
Transparency rating 32%
Fairer Finance score
Reviewed Spring 2019
43%

Personal loans

Ranked 22nd of 24 providers reviewed.

Customer happiness 37%
Customer trust 24%
Complaints performance 71%
Transparency rating 52%
Fairer Finance score
Reviewed Spring 2019
46%

Savings accounts

Ranked 41st of 42 providers reviewed.

Customer happiness 40%
Customer trust 32%
Complaints performance 71%
Transparency rating 50%
Fairer Finance score
Reviewed Spring 2019
48%

Bank accounts

Basic bank accounts

Current accounts

Foreign use bank accounts

Royal Bank of Scotland

Premier Reward Black

3 stars
Limit to non-sterling cash withdrawal before increase in withdrawal fee i

Royal Bank of Scotland

Reward Platinum

3 stars
Limit to non-sterling cash withdrawal before increase in withdrawal fee i

Royal Bank of Scotland

Student bank account (International students)

1 stars
Limit to non-sterling cash withdrawal before increase in withdrawal fee i

Royal Bank of Scotland

Foundation Account

1 stars
Limit to non-sterling cash withdrawal before increase in withdrawal fee i

Royal Bank of Scotland

Everyday bank account - Select

1 stars
Limit to non-sterling cash withdrawal before increase in withdrawal fee i

Royal Bank of Scotland

Reward Silver

1 stars
Limit to non-sterling cash withdrawal before increase in withdrawal fee i

Royal Bank of Scotland

Student bank account (UK students)

1 stars
Limit to non-sterling cash withdrawal before increase in withdrawal fee i

Overdrafts

Packaged bank accounts

Student bank accounts

Credit cards

0% balance transfers

Royal Bank of Scotland

Balance Transfer Credit Card

4 stars
Balance transfer rate during promotional period i 0%
Duration of offer period for 0% balance transfers i 23 months
Representative APR i 19.90%
Risk based? i
Representative balance transfer rate i 1.52%

0% purchases

Royal Bank of Scotland

Balance Transfer Credit Card

3 stars
Purchase rate during promotional period i 0%
Duration of offer period for 0% purchases i 3 months
Representative APR i 19.90%
Risk based? i
Representative purchase rate i 1.52%
Number of days before interest is charged on purchases i 56 days

Cashback and rewards

4 stars
Reward extras i
Estimated amount of money customers get back in the 1st year (minus annual fee) i £157.53
Estimated amount of money customers get back after the 1st year (minus annual fee) i £157.53
Risk based? i
Annual fee after 1st year i £24
Foreign purchase fee i 2.75%

Royal Bank of Scotland

Reward Black

4 stars
Reward extras i
Estimated amount of money customers get back in the 1st year (minus annual fee) i £97.53
Estimated amount of money customers get back after the 1st year (minus annual fee) i £97.53
Risk based? i
Annual fee after 1st year i £84
Foreign purchase fee i 0%

Foreign use credit cards

Royal Bank of Scotland

Royal Bank Credit Card

4 stars
Representative APR i 9.90%
Foreign purchase fee i 0%
Foreign withdrawal fee i 3%
Risk based? i
Number of days before interest is charged on non-sterling cash transactions i 0 days
Representative purchase rate i 0.79%

Royal Bank of Scotland

Reward Black

3 stars
Representative APR i 37.10%
Foreign purchase fee i 0%
Foreign withdrawal fee i 3%
Risk based? i
Number of days before interest is charged on non-sterling cash transactions i 0 days
Representative purchase rate i 1.45%
3 stars
Representative APR i 18.90%
Foreign purchase fee i 2.75%
Foreign withdrawal fee i 3%
Risk based? i
Number of days before interest is charged on non-sterling cash transactions i 0 days
Representative purchase rate i 1.46%

Royal Bank of Scotland

Balance Transfer Credit Card

3 stars
Representative APR i 19.90%
Foreign purchase fee i 2.75%
Foreign withdrawal fee i 3%
Risk based? i
Number of days before interest is charged on non-sterling cash transactions i 0 days
Representative purchase rate i 1.52%
3 stars
Representative APR i 23.70%
Foreign purchase fee i 2.75%
Foreign withdrawal fee i 3%
Risk based? i
Number of days before interest is charged on non-sterling cash transactions i 0 days
Representative purchase rate i 1.45%

Low rate

Royal Bank of Scotland

Royal Bank Credit Card

4 stars
Representative APR i 9.90%
Representative cash transaction rate i 1.31%
Representative purchase rate i 0.79%
Risk based? i
Representative balance transfer rate i 0.56%
Representative money transfer rate i 1.31%
4 stars
Representative APR i 18.90%
Representative cash transaction rate i 2.08%
Representative purchase rate i 1.46%
Risk based? i
Representative balance transfer rate i 1.46%
Representative money transfer rate i 1.46%
3 stars
Representative APR i 23.70%
Representative cash transaction rate i 1.94%
Representative purchase rate i 1.45%
Risk based? i
Representative balance transfer rate i 1.45%
Representative money transfer rate i 1.94%

Royal Bank of Scotland

Reward Black

3 stars
Representative APR i 37.10%
Representative cash transaction rate i 1.94%
Representative purchase rate i 1.45%
Risk based? i
Representative balance transfer rate i 1.45%
Representative money transfer rate i 1.94%

Money transfers

Royal Bank of Scotland

Royal Bank Credit Card

1 stars
Money transfer rate during promotional period i
Duration of 0% offer period for money transfers i
Representative APR i 9.90%
Risk based? i
Money transfer fee during promotional period i
Representative cash transaction rate i 1.31%
1 stars
Money transfer rate during promotional period i
Duration of 0% offer period for money transfers i
Representative APR i 23.70%
Risk based? i
Money transfer fee during promotional period i
Representative cash transaction rate i 1.94%

Royal Bank of Scotland

Reward Black

1 stars
Money transfer rate during promotional period i
Duration of 0% offer period for money transfers i
Representative APR i 37.10%
Risk based? i
Money transfer fee during promotional period i
Representative cash transaction rate i 1.94%
1 stars
Money transfer rate during promotional period i
Duration of 0% offer period for money transfers i
Representative APR i 18.90%
Risk based? i
Money transfer fee during promotional period i
Representative cash transaction rate i 2.08%

Royal Bank of Scotland

Balance Transfer Credit Card

1 stars
Money transfer rate during promotional period i
Duration of 0% offer period for money transfers i
Representative APR i 19.90%
Risk based? i
Money transfer fee during promotional period i
Representative cash transaction rate i 2.01%

Home insurance

Royal Bank of Scotland

Private Home Insurance

5 stars
Escape of water excess i £100
Matching sets i
Theft from outbuildings i Unlimited
24hr helpline i
Alternative accommodation i Sum insured
Cover for keys/locks if lost i Sum insured
Money in the home i £2,500
New for old i

Royal Bank of Scotland

Elite Home Insurance

4 stars
Escape of water excess i £450
Matching sets i
Theft from outbuildings i £5,000
24hr helpline i
Alternative accommodation i £50,000
Cover for keys/locks if lost i Sum insured
Money in the home i £1,000
New for old i

Royal Bank of Scotland

Home Insurance

3 stars
Escape of water excess i £450
Matching sets i
Theft from outbuildings i £2,500
24hr helpline i
Alternative accommodation i £25,000
Cover for keys/locks if lost i Sum insured
Money in the home i £500
New for old i

Buildings insurance

Royal Bank of Scotland

Private Home Insurance

5 stars
Trace & access i £15,000
Matching sets i
Cover for keys/locks if lost i Sum insured
Compulsory excess i £100
Escape of water excess i £100
Alternative accommodation cover limit i Sum insured
Cover for keys/locks if stolen i Sum insured
Property owner liability i £5,000,000
24hr helpline i

Royal Bank of Scotland

Elite Home Insurance

4 stars
Trace & access i £10,000
Matching sets i
Cover for keys/locks if lost i Sum insured
Compulsory excess i £50
Escape of water excess i £450
Alternative accommodation cover limit i £50,000
Cover for keys/locks if stolen i Sum insured
Property owner liability i £5,000,000
24hr helpline i

Royal Bank of Scotland

Home Insurance

3 stars
Trace & access i £5,000
Matching sets i
Cover for keys/locks if lost i Sum insured
Compulsory excess i £50
Escape of water excess i £450
Alternative accommodation cover limit i £25,000
Cover for keys/locks if stolen i Sum insured
Property owner liability i £2,000,000
24hr helpline i

Contents insurance

Royal Bank of Scotland

Private Home Insurance

5 stars
Theft from outbuildings i Unlimited
Matching sets i
Cover for keys/locks if lost i Sum insured
Cycles included whilst in the home i Sum insured
New for old i
Alternative accomodation i Sum insured
Money in the home i £2,500
Cover for keys/locks if stolen i Sum insured
24hr helpline i

Royal Bank of Scotland

Elite Home Insurance

5 stars
Theft from outbuildings i £5,000
Matching sets i
Cover for keys/locks if lost i Sum insured
Cycles included whilst in the home i £5,000
New for old i
Alternative accomodation i £30,000
Money in the home i £1,000
Cover for keys/locks if stolen i Sum insured
24hr helpline i

Royal Bank of Scotland

Home Insurance

3 stars
Theft from outbuildings i £2,500
Matching sets i
Cover for keys/locks if lost i Sum insured
Cycles included whilst in the home i £0
New for old i
Alternative accomodation i £15,000
Money in the home i £500
Cover for keys/locks if stolen i Sum insured
24hr helpline i

Life insurance

Over 50s life insurance

Royal Bank of Scotland

Guaranteed Sixty-Plus Life Insurance (increasing insurance)

3 stars
Cover for accidental death in waiting period i 3x full payout
Waiting period i 24 months
Premium ending age i 90
Can you reduce monthly payments? i
Missed payments allowance i 30 days
Protection for customers past the crossover point (refund) i
Payout for accidental death outside waiting period i Full payout
Maximum age i 80
Funeral benefit option Not offered

Royal Bank of Scotland

Guaranteed Sixty-Plus Life Insurance (level insurance)

3 stars
Cover for accidental death in waiting period i 3x full payout
Waiting period i 24 months
Premium ending age i 90
Can you reduce monthly payments? i
Missed payments allowance i 30 days
Protection for customers past the crossover point (refund) i
Payout for accidental death outside waiting period i Full payout
Maximum age i 80
Funeral benefit option Not offered