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Royal Bank of Scotland

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RBS is a TLA for The Royal Bank of Scotland.  Put like that you might think of it as a building where you can deposit money and have a bank account.  Maybe get a loan or use the hole in the wall to withdraw some money.  You might think it is situated in Scotland and you might think it is like the Bank of England but sort of for the Scots.

Well you'd be wrong!  The Royal Bank of Scotland is not the Bank of Scotland and it is far larger than a building in some high street.  The Royal Bank of Scotland is a banking subsidiary of the Royal Bank of Scotland Group which is one of the world's largest companies by assets.  RBS was actually started way back in 1727 encouraged by the British Government to compete with the Bank of Scotland which, it was feared, was too independent for the government's liking.  Remember, the British Government, although purportedly representing all the folk in England, Scotland, Wales and Northern Ireland, is, in fact, based in London which happens to be in England.

In 2008 the British Government effectively bought the bank for the British People.  So in simple terms the British Tax Payers own 84% of the Royal Bank of Scotland.  This was called a "bail out" and was caused by the bank running into financial difficulties with loans.  Not inappropriate since the RBS was the first bank ever to offer overdraughts.  It is also appropriate that the British people own the bank since "British", in this context has a tendency to mean "English".  So, ironically, the Royal Bank of Scotland is really an English banking conglomerate owned by the British People.  Also ironically this makes it more answerable to ALL the British people, including the Scots, and may have a beneficial effect on its banking behaviour.

Companies, like people, can't be perfect and the Royal Bank of Scotland is perfectly normal in that respect.  There are some people who think banks are dreadful organisations (me for one) but if you live in a toxic environment you still have to breath.  You might like to spend your energy trying to reduce the toxicity of the environment but you can't simply stop breathing on principle.  That is why I like to have an affiliate program with RBS because they do a very good range of content insurance for students and people who rent their accommodation.  Their content insurance is reliable and respectable and overall it is a very good service protecting you from loss or damage of all sorts of things like computers, laptops, iPods, bicycles and mobile phones.  In fact they run a scheme where you can determine what items you want insured so you can tailor the contract to suit your needs and your budget.  They even cover downloads that you have purchased and stored on your home entertainment equipment or mobile phone.  The insurance costs are very reasonable too.  If you are interested you can visit their site by clicking this link --> RBS content insurance or one of the banners.

One nice thing about the Royal Bank of Scotland is that due to the controversy surrounding their difficulties with money they are now under heavy scrutiny from many organisations which helps them tune their business more in line with the ethical and humanitarian demands of the British public.  Something that all parties will obviously benefit from in the long run.  Well done to RBS for listening to other people's views and sometimes responding positively.

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