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Royal Bank of Scotland Banking
As with all major banks, The Royal Bank of Scotland banking product range includes credit cards, insurances, loans, travel services and pensions.
The basic "Key account" is banking without frills- a cashcard gives you up to £300 per day from machines, but that's it- as the Royal Bank of Scotland banking rubric has it: "Peace of mind as arranged overdrafts and credit facilities are not available"! It does pay interest too.
Next, step up to the general current account; again offering interest and calculated daily, paid monthly. A real benefit is (if agreed) an overdraft of up to £100 on which you will not pay interest. Usually, fee-free overdrafts don't include a waiver on interest, but this one does. Furthermore, there are no arrangement fees on some quite large overdrafts (up to £15,000). Another innovative service is the option to have your photo and signature laser-etched on your cashcard as a fraud prevention measure.
Bankers Drafts cost £10, stopping a cheque: £10, duplicate statements are a whopping £5 per page!
The Royal Bank of Scotland banking premium services split out into "Royalties" and "Royalties Gold". The "Royalties" fee is £5 per month, and buys you a wide range of benefits, including preferential rates of interest (whether saving or borrowing or on credit cards too), commission-free travel money, discounts on holidays and motoring (if you're a big driver, the motoring benefits are particularly good- e.g. tyres and MOTs). There's also purchase protection, extended warranties on electrical goods, and a lost key retrieval service. Royalties Gold doubles the price to £10 per month, while bolting on increased financial benefits and some fairly hokum extras like a wine club. The basic Royalties package seems the best option, unless you can justify the extra leap using the improved interest rates for Gold subscribers.
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