RBS CUSTOMERS REJECTING THE SWITCH

After receiving a £46bn taxpayer funded bailout, the Royal Bank of Scotland (RBS) was ordered to switch 120,000 businesses to other banks by August 2020 and it has been offering various incentives to convince businesses to move.

So far it is understood that around 18,000 businesses have switched but those registering interest to switch has dropped off a cliff falling by 80% to 5% to just 5,000 businesses and the pace is causing major headaches at the bank.

Failure to hit these numbers could cause further government intervention.

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