About Royal Bank of Scotland
Founded in Edinburgh in 1727 Royal Bank of Scotland (RBS) is one of the oldest banking institutions in the country. Based in the UK and Ireland, RBS offers a range of products across the board, including current and savings accounts, credit cards, mortgages, and loans for both personal and business banking customers.
The RBS customer services team can be contacted on 0871 423 0157 for all queries about all their current services. The team at RBS are especially proud to be a part of their local community and are only too happy to be able to offer advice and assistance. Call them on 0871 423 0157.
The History of Royal Bank of Scotland
Before the inception of the Royal Bank of Scotland itself in 1727, there was an organisation called the Society of the Subscribed Equivalent Debt. This goes back to the Acts of Union between England and Scotland in 1707.
The Equivalent Society expressed a wish to move into banking and to this end became the Equivalent Company in 1724. This in turn became the Royal Bank of Scotland in 1727 under the governorship of Archibald Campbell. RBS was the first to invent a system of overdrafts in 1728.
The bank’s expansion further afield began in 1783 with a second branch in Glasgow, followed over the next two decades by branches in Dundee, Leith, Greenock and Rothesay among others. The banks head office and headquarters though have always remained in Edinburgh where RBS began.
During the late 1800s, RBS proceeded to buy up other smaller Scottish banks such as the Western Bank in 1857, and the Dundee Banking Company in 1864. By 1910, RBS had already become a large institution with 158 branches and 900 or so staff. In the years following the First World War, RBS set about acquiring small banks in England. It became the largest bank in Scotland in 1969 when it merged with the National Commercial Bank of Scotland.
The early part of the 2000s saw RBS run into difficulties concerning loan products and the 2008 credit crisis, which necessitated it being taken under UK government control and its chief executive was forced to stand down.
A new CEO, Ross McEwan was appointed in 2013 as RBS began their journey back to private ownership, and they sold off 308 branches across England and Wales. Around 300 branches were bought by Spanish owned bank Santander.
The Royal Bank of Scotland Today
RBS today is proud of its commitment to local issues and small businesses. As part of RBS’s ethos of ‘sustainable banking’ it recently launched its new Entrepreneurial Centre at its Edinburgh headquarters.
The intention is to offer support, advice and facilities including access to business start-up experts at RBS and ‘hands-on’ mentoring. More Entrepreneurial Centres are due to be rolled out across the UK. They also work with the Prince’s Trust in Scotland to help young people start their own businesses. RBS are especially proud to offer support to women in business.
The bank also sponsors Street Soccer Scotland in their aim of ‘tackling homelessness through football’ and their Social and Community Capital provides loans to charities and community development projects.
These are just a few areas where RBS help community causes. And in the interests of community cohesion they now have 24 mobile banking branches for those without access to a main branch. They offer an accessible debit card with tactile markings especially for blind and partially sighted people.
If you like the sound of RBS and are wondering how to contact them, all you need to do is call their customer service number on 0871 423 0157.