Fees on Natwest Step Account?

TheJC

I applied online for a Natwest Step A/c and got the paperwork through today.

I'm hoping someone that has knowledge of these accounts can answer a couple of questions about charges. Not that I'm expecting to ever (again) be in the position of not having a firm hold on my money, but I've experienced problems in the past with other banks where I've been charged fees for declined transactions which made me overdrawn on "an account where going overdrawn is not possible" and ended up having no money at all.

Anyway, having looked at the terms/fees/etc I have two questions related to a statement about charges:

Note that the Maintenance Charge, Guaranteed Card Payment Fee, Paid Referral Fee and Default Notice Fee do not apply to Step Accounts.

• I can't find any mention of how much their Default Notice Fee is.
• Is the Unpaid Item Fee applicable to the Step Account?

Hmmm... Default Notice Fee appears to be £30, not that it really matters as it isn't applicable on the Step Account.

It's the Unpaid Item Fee that I'm worried about.

Years ago, when I was with 'the world's local bank' (i.e. voluntary customer, not when I was forced to be a customer) they charged me a 40-odd quid fee for them allowing a transaction through that took me a few pence overdrawn resulting in a cascading fee/interest/fee/fee/interest cycle. I still can't work out how 18p can turn in to hundreds of pounds in only a couple of months.

Kavanne

You can be charged an unpaid item fee on a step account

TheJC

Kavanne wrote: »

You can be charged an unpaid item fee on a step account

Thanks for the clarification.

I think the account is right for me in my current circumstances, just hope they won't need a form of ID I don't have; the IPS do appear to have taken the money for my new passport though, so soon I'll hopefully have a passport for the first time in 8 years.

davethorp

Unpaid item fee is £38 on step account I believe. You cannot be charged for going overdrawn as you aren't meant to be able to go overdrawn on the account (though it is possible but they will not charge you)

natweststaffmember

The default fee is now called an "enforcement fee" and it's £30.00.
It is applicable to step accounts but are you telling me that it is the main subject matter of the contract or something that you intend to do with the account

TheJC

natweststaffmember wrote: »

The default fee is now called an "enforcement fee" and it's £30.00.
It is applicable to step accounts but are you telling me that it is the main subject matter of the contract or something that you intend to do with the account

I can't quite grasp the meaning of your second sentence. Are you saying the default fee, the unpaid item fee, or both is/are applicable to the step account?

I don't understand what you're asking after "but". :huh:


John.

natweststaffmember

TheJC wrote: »

I can't quite grasp the meaning of your second sentence. Are you saying the default fee, the unpaid item fee, or both is/are applicable to the step account?

I don't understand what you're asking after "but". :huh:


John.

Unpaid fee is applicable to step accounts.
The default fee/enforcement fee is applicable to the account however you would have to be significantly overdrawn and incurring a lot of charges or leave the account dormant with a negative balance for them to charge you the default fee/enforcement fee.

TheJC

natweststaffmember wrote: »

Unpaid fee is applicable to step accounts.
The default fee/enforcement fee is applicable to the account however you would have to be significantly overdrawn and incurring a lot of charges or leave the account dormant with a negative balance for them to charge you the default fee/enforcement fee.

Ah, thank you for the explanation.


John.