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article imageBank Staff Forced To Have Own Accounts In The Bank Where They Work

By Michelle Duffy     Mar 23, 2007 in Business
The Bank Of Scotland in the UK have given their staff a serious ultimatum - have your personal, primary bank account with us or your fired
Through the staff union, Amicus, it has been revealed that in a letter from a senior executive at the Royal Bank of Scotland, all staff must have their own individual bank accounts at the branch or face the sack.
In a shocking memo sent out to all, it stated, "Failure to do so will represent a breach of group policy."
Furious Amicus will fight for their staff to have their own choice as where their personal bank accounts are. The union has been disgusted at the news and described the RBS as being "heavy-handed."
14,000 staff had taken the decision to have their own bank accounts at other banks who have more competitive rates of interest. RBS are known to also own NatWest, and Insurances companies, Direct Line and Churchill. The letter did state that the staff could have bank accounts at any branch of bank owned by RBS, giving staff the only other place to have an account being at NatWest, so long as this account would hold their own salary.
However, The Bank of Scotland had already said that they had told their staff at their job interviews that they would be required to have their own accounts at the bank, giving them the chance to opt out of the job.
Yet RBS can't see what the problem is stating that this particular piece of small print was in the interest of the staff they employed, giving them a 'reward package.' A spokesperson for the bank said that it was within the practise of the industry to have such a clause and that it wasn't a matter open for discussion with the union.
So what of the disciplinary action? The RBS are pointing this at the staff in raged to their own insurances at the companies that RBS own and have done since the take over. The voice of the staff seems to be too weak to stand up to clause, even with the union.
"If you work for Tesco you won't be disciplined for buying your groceries from Sainsbury's," said union official Rob Macgregor.
The row continues.
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