Welcome to The Royal Bank of Scotland Group Annual Review and Summary Financial Statement.

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Cards & Direct Finance

A customer using an ATM machine

Free Access to Cash for Deprived Communities

In July 2006 RBS committed to providing 300 free-to-use cash machines for deprived and rural areas. We have worked with community groups, local authorities and the National Federation of Sub-Postmasters to find host sites for these machines.

  • Chip & PIN capability was successfully completed in February 2006. Implementation of this, together with other fraud prevention initiatives, contributed to a reduction in fraud losses in 2006 for our core Retail credit card portfolios.
  • The relationship with Bank of China gives us access to one of the fastest-growing cards markets in the world, and our joint business has issued 1.2 million cards in China.
  • In merchant aquiring, through our brands including Streamline and RBS Worldpay, we are the largest in traditional and internet payments in the UK and continental Europe, and No 4 globally for traditional payments. We are the largest facilitator of e-commerce payments in Europe and processed 360 million transactions via the internet in 2006.
  • The number of transactions processed by our payment acquiring business topped three billion for the first time, an increase of 6% on 2005.
  • By combining our card issuing and acquiring capabilities, we were the first in Europe to develop and trial a ‘contactless card', for making payments of under £10 without the need for cash.
  • Hanco is the largest supplier of third-party ATMs in the UK. Although Hanco offers a range of internal and external ATM options, it predominately operates ATMs on a ‘merchant replenishment basis'. Hanco has continued to grow market share successfully ahead of competition.
Mint card and mobile phone

Mint Mobile

In 2006 Mint customers were given the option of managing their credit card payments via their mobile phone.

  • Our direct brand MINT has continued to grow and as well as credit cards also offers gift cards, loans and motor insurance. Over two thirds of MINT credit card applications come via the internet. MINT card customers can set email and text alerts to help them manage their accounts quickly and simply, and can receive statements and balances by text message.
  • With five million customer accounts and 22 products and services, our joint venture Tesco Personal Finance is the UK's largest and most successful supermarket bank. Tesco Personal Finance operates in the UK, Ireland, Hungary and Poland.
  • Tesco Personal Finance continues to expand its range of products, and in 2006 introduced the Bonus Credit Card, which gives customers back one month's interest every year – a first in the UK. Tesco Personal Finance has also entered the business market with the new Tesco Business Credit Card.
  • Tesco Personal Finance is the third-largest issuer of car insurance policies in the UK. In 2006 we introduced Value Car Insurance, offering modified comprehensive cover to motorists who currently have only third party insurance.

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The Royal Bank of Scotland Group  © 2007