Natwest extends its financial capability programme to all adults

NatWest has announced that from this Friday, it will be the first high street bank to offer free, impartial financial guidance to everyone, including customers of other banks and people without bank accounts. The MoneySense service will provide the opportunity to speak with independently trained advisers in 1,000 NatWest branches across the country where more than 2.2m people interact with bank staff every week. The money guidance available is not linked to sales of products and is completely impartial.

To further ensure impartiality, the Bank is currently strengthening the MoneySense advisory board by inviting influential leaders from educational organisations, charities and other independent bodies to participate.

Through 2009 RBSG will invest an additional £4m in MoneySense. This reflects the importance that RBSG places on heightening efforts to increase financial capability and inclusion through the economic downturn.

Leading charity, Consumer Credit Counselling Service (CCCS) has been working with NatWest providing intensive training to 1,000 advisers from the bank's customer service officers who are completely service oriented and not linked to selling products. From 13 December 2008, these advisers will be on hand to impart guidance to customers across the country on a wide range of money management questions, including;

Guidance on basic budgets and budgeting skills
Help with prioritising outgoings and expenses
Working with customers on savings plans
General, impartial guidance on how financial products work

The UK-wide launch builds on a successful MoneySense project completed in Manchester in May 2008 and a pilot in five branches in London over the last eight weeks. The pilot saw advisers offering money guidance to hundreds of customers ranging from students to families and business people.

The MoneySense advisers were nominated for the roles by their region, based on their exceptional service-oriented skills. These 1,000 advisers went on independent training with leading debt charity, Consumer Credit Counselling Service to prepare them for their new roles. In total, the 1,000 MoneySense advisers across the country will have undergone 8,000 hours of bespoke training on offering impartial financial guidance to customers. These roles are completely focused on helpful guidance and are not linked to endorsing or selling products.

Gordon Pell, Chairman, Regional Markets at Royal Bank of Scotland Group said: "Bringing MoneySense in-branch through our newly-trained advisers and working with CCCS makes sense in the current climate and is a natural extension of our heritage in this area. We already have 60,000 adults per month accessing money guidance on our website and over 110,000 impartial Money Guides picked up in branch since the start of this year. During the pilots most people told us that they would look for help at their bank and with over 2 million people coming into our branches each week, this environment seems a natural fit for the MoneySense Adviser service.

"Our customers want Back-to-Basics banking, building on traditional relationships with local branches, and access to impartial advice, helping them navigate their way through the challenges of the current economic climate."

Malcolm Hurlston, Chairman of the Consumer Credit Counselling Service commented: "There are times in life when everybody needs free, accessible and impartial financial guidance. Bank branches are the traditional trusted source and we welcome the opportunity to be part of RBS/NatWest's groundbreaking initiative. Where better to find impartial advice than in a familiar branch setting?

"For CCCS this is an important first step in broadening our reach from helping Britons in debt to helping people with the whole of their financial lives, first face to face and then online. Our training division is fast and efficient and ready to support."

Local Help on Money Matters

Carol Simpson, who lives in Cheam, Surrey, has been retired for two years and has found herself on a relatively tight budget. Carol met with MoneySense adviser Elaine Parker in the NatWest Sutton branch.

Carol said: "With a change in my circumstances it has been a while since I revised how I'm managing my budget. To be honest, I am still managing my money as I did when I was working. As well as drawing up a new budget, Elaine suggested I look into benefits like winter fuel allowance and a free bus pass which I had not considered. I'm really glad this service was offered to me. I've realised I had standing orders for subscriptions I no longer use and that has helped me save a little something I can put towards Christmas presents for my eight grandchildren."

MoneySense TV Campaign

To heighten awareness of independent money guidance available and underlining the commitment NatWest has made in this area, the Bank has made a significant investment in a television advertising campaign, shot in branches using MoneySense advisers and real customers to illustrate the help available. This will air for the first time on the 12th December.

Today's announcement builds on two recent moves by RBS/NatWest designed to directly help consumers and businesses:

1 December 2008 - RBS/NatWest will give customers who have fallen behind on mortgage repayments six months' breathing space before instigating repossession proceedings

24 November 2008 - RBS/NatWest announced that it will freeze overdraft charges for small businesses for one year, from 1st December 2008 as well as committing to continue to guarantee small business overdrafts for 12 months.