MSE News: NatWest and RBS to charge more overdraft customers

Former_MSE_Helen · 17 April 2013 at 4:39PM

"NatWest and RBS have reduced the buffer from which they start charging customers for going into an authorised overdraft..."

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NatWest and RBS to charge more overdraft customers

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[Deleted User] · 17 April 2013 at 5:38PM

£6 to use your already agreed and long standing overdraft?

Terrible decision.

guesswho2000 · 17 April 2013 at 5:44PM

Interesting, the link on their site for accounts opened Pre 2011 states that references to those accounts is being deleted, but doesn't mention any change to fees.

Will my current plus account become select then? And will these fees apply?

grumbler · 17 April 2013 at 5:45PM

Is it just me or something is wrong with the title and MSE need a new proofreader?

guesswho2000 · 17 April 2013 at 5:51PM

grumbler wrote: »

Is it just me or something is wrong with the title and MSE need a new proofreader?

I think it's right, some overdraft customers currently pay nothing - I pay no fees or interest at all as long as I never exceed £100 overdrawn, for that reason I make sure I use my overdraft every month. I won't if these changes apply, though.

grumbler · 17 April 2013 at 5:54PM

I'd say 'overdrawn customers' in this case, but English is not my first language...

innovate · 17 April 2013 at 6:22PM

An overdraft customer is a customer for, or of, an overdraft. They are not necessarily using the overdraft, they just have the facility. Just having the facility does not incur any charges.

An overdrawn customer, oth, is definitely using their overdraft. It's some / most of those customers who will be affected by the change(*)

So, on balance, MSE should probably have used "overdrawn customers".

(*) They do have almost 3 months to do something about getting charged, so they have had fair notice.

stclair · 17 April 2013 at 7:22PM

The leaflets detailing the changes can be viewed here:

RBS Customers

http://www.rbs.co.uk/Downloads/personal/current_accounts/Whats_Changing-Changes_to_your_Terms_and_Conditions.pdf

http://www.rbs.co.uk/Downloads/personal/current_accounts/overdrafts-int_Explained.pdf

NatWest Customers:

http://www.natwest.com/downloads/global_options/docs/Whats_Changing-Changes_to_your_Terms_and_Conditions.pdf

http://www.natwest.com/downloads/global_options/docs/nw_overdrafts_explained.pdf

chambta · 17 April 2013 at 8:12PM

guesswho2000 wrote: »

Interesting, the link on their site for accounts opened Pre 2011 states that references to those accounts is being deleted, but doesn't mention any change to fees.

Will my current plus account become select then? And will these fees apply?

Yes and yes.

Old versions of the present Select Account will have there accounts converted. Materially there's no change other than, of course, the application of the new charges if an overdraft is used.

tifo · 17 April 2013 at 9:28PM

[Deleted User] wrote:

£6 to use your already agreed and long standing overdraft?

Terrible decision.

Yes, same as Lloyds TSB .....

guesswho2000 · 17 April 2013 at 10:04PM

chambta wrote: »

Yes and yes.

Accounts that old versions of the present Select Account will have there accounts converted. Materially there's no change other than, of course, the application of the new charges if an overdraft is used.

Thanks, yeah I figured as much, deleting reference to the accounts from the T&Cs pretty much signified it, but never mind! Just won't use my overdraft any more!

MSE News: NatWest and RBS to charge more overdraft customers

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