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A Royalties Gold account
RBS Royal Bank Of Scotland
Member Name: johnnie1uk
RBS Royal Bank Of Scotland
Date: 19/08/01, updated on 19/08/01 (4299 review reads)
Advantages: Discounts, free services
Disadvantages: lots of small print, £10 per month
I was advised by Royal Bank of Scotland that a Royalties Gold account(monthly fee £10) would be the best for my circumstances, my previous account was a basic current account wth no account fee, The account has many benefits but you would have to be a big spender to take advantage of all of them, A lot of the benefits take the form of discounts, for example 20% off selected hotels, 2%APR off the standard credit rate, a lot of these discounts can be obtained by shopping around or even asking the retailer for a cash discount, Many of the benefits have small print conditions that make them unbeneficial unless you are very lucky, or have taken all the nesaccary steps to make the particular benefit valid.
There is a discounted sharedealing service, but you can get far cheaper sharedealing from at least half a dozen other companies.
The free car breakdown cover only applies if you are insured through Royalties motor insurance which has comparably high premiums to other motor insurers, so you pay for the breakdown service through your motor insurance.
The discounted phone bills can also be matched or beaten by most of the other telecom providers. There is a shopping service which aims to get you well known products at cheaper prices, if they don't they refund the difference. all the items I tried to get, they did not stock that brand. or they only matched the cheapest price on the High St.
Of all the benefits, the ones I use or have recieved are, occassionally, meal discounts, Free annual travel insurance, free airport executive lounges,(I have only qualified once,the lounges have either been closed or not available.) Discount off holidays booked through royalties. Commission free travel money. The benefits i have not used but registered for, Payment card protection, Lost key retrieval, legal helpline, Accidental death cover.
There are other benefits but most are cancelled out for the reasons stated previously in this opinion.
The annual accou
nt fee for Royalties Gold is £120, I consider I get more than my money back plus there may be a time i will use other benefits.
But for anyone who does not travel or spend freely i don't think a Royalties gold account is worth paying an annual fee for.
I've just noticed on the new updated benefit brochure I can have free membership of Virgin Wines..can't you get that anyway?
I had better check they haven't taken away any of the usefull benefits!