I met Fred Goodwin in 2000 when he was touring the City extolling the virtues of his RBS takeover of NatWest. I didn't take to him then and his open arrogance fed a well placed dislike and mistrust of his corporate strategy in the years that followed. We know how that ended. Encouraged by misguided government, and regulators who were seemingly looking elsewhere, he managed to leverage the balance sheet to breaking point. When the system came under extreme duress, RBS snapped and has been in recovery ever since.
So, its with some surprise that I've tripped over a pretty good money transfer innovation that RBS are rolling out which is really useful. Remember the days when as a youngster you spent / lost / forgot your cash and had no means of getting some for the last bus / taxi / train home? Or perhaps on a trip somewhere and a bad thing happened, "Mum, please post money to this address."
All change. With RBS's Get Cash app said parent simply inputs the amount of money to be sent and it generates a code number which you can then text to errant child. They then only need go to an RBS, Tesco or NatWest cash machine within three hours, input the code and it will spit out the cash. I am genuinely impressed. They are relaunching Williams & Glyn too; perhaps bit by bit they are recovering ground.