MSE News: NatWest and RBS to charge more overdraft customers
Former_MSE_Helen
Posts: 2,382 Forumite
"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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NatWest and RBS to charge more overdraft customers
Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.
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Comments
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£6 to use your already agreed and long standing overdraft?
Terrible decision.2016 saver #80 - £8,379 / £11,0000 -
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?0 -
Is it just me or something is wrong with the title and MSE need a new proofreader?0
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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.0 -
I'd say 'overdrawn customers' in this case, but English is not my first language...0
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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.0 -
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.pdfIm an ex employee RBS GroupHowever Any Opinion Given On MSE Is Strictly My Own0 -
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.0 -
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!0
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