Well finally today the OneAccount has reduced its interest rate by 1% - the issue now is that the reduction is not the 1.5% passed on by many of the other banks. I suspect the point made by Sleepyg that RBS are worried that a percentage of account holders hit by the credit crunch may decide to utilise their full borrowing facility - causing a run on required funds. So limiting the reduction to 1% may discourage people from doing so. Whatever the justification for the way RBS is behaving, there is something strange about the way the OneAccount has been run since it was purchased from Virgin. I was also intrigued by a statement from one of the (very helpful) staff at my local RBS branch. She commented that RBS "...simply act as the clearing bank for the OneAccount" & that is why whenever I go into my branch a member of staff tries to get me consider moving from the "OneAccount" offset mortgage to the RBS Offset mortgage ! When I ask what the difference is between 2 offset mortgages both apparently from RBS/NatWest, no-one has an answer. Call me suspicious but I sense that the OneAccount has some form of commercial independence from RBS/NatWest (perhaps the OneAccount is a joint venture over which RBS has limited control or perhaps there were certain restrictions placed on the OneAccount when it was sold on by Virgin ?). Either way, RBS branches certainly seem keen to encourage OneAccount holders to move their business to the "RBS Offset" offering. I am awaiting a call back from the Mortgage Advisor in my local branch so I can find out how the interest rates compare between the 2 accounts & if RBS applied the full 1.5% reduction to their own branded offset mortgage as a further encouragement for OneAccount holders to move their business ? If anyone can shed any light on the "ownership/relationship" question between the OneAccount offering & the RBS offering I would be very interested. ... GP2008