RBS Charm Offensive

Stephen Hester may not be taking his bonus but RBS continues to take the Michael.

Today I received a letter from RBS stating that they are raising the interest rate on purchases by a tenth (from 17.47% to 19.16%).

The bit I like is that if I am not happy with the increase I do have the option to close my account and pay back my account at the existing rates.

What nevertheless puzzles me is how our government still allow the banks to apply such high charges to its customers, and how they allow companies like Wonga to lend money at incredible rates of 1% per day or more.

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