RBS recognised for 'Best Credit Card Initiative'

The Royal Bank of Scotland Group (RBS) has won the "Best Credit Card Initiative in Asia" category at the Asian Banking and Finance Retail Banking 2009 Awards Ceremony, held in Singapore on January 2, 2009. This prestigious award recognises RBS’s Switch Platinum Card for its innovative proposition and offering of unparallel financial value and convenience to cardholders.

Rowena Everson, Editor at Asian Banking and Finance, a leading industry publication in the region, and one of the judges of the Award, commented on the win: RBS’s Switch Platinum Card impresses us with its broad range of unrestricted financial benefits such as 0-percent installment payments at all merchants. The card’s well-targeted marketing has a winning combination that mixes desire with good cost-sensitive promotions.

Pamela Tan, Head of Consumer Finance at RBS Singapore, said: "The Singapore team is delighted to have won this award. RBS’s Switch Card, launched in July 2008, focuses on offering real financial value by providing benefits that will allow our clients to enjoy more savings and flexibility in financing their purchases, beyond simply lifestyle benefits."

RBS’s Switch Platinum Card offers an array of cost-saving benefits including a low interest rate of 18 percent per annum, permanent waiver of annual membership fee, free cash advance service on automated teller machines and 0-percent installment payment plan for large ticket purchases at all merchants. It also gave cardholders access to exclusive sporting events like the world’s first night Formula One race in Singapore and UEFA European Championship in Switzerland.

Ajay Mathur, Head of Retail Banking Singapore, added: "This award is an acknowledgement of the bank’s success in developing innovative and competitive banking products. Going forward, we will continue to focus on creating differentiated consumer finance products that offer unparallel value and benefits in different market environment for targeted client segments."