MSE News: Bank Charges slashed by RBS/Natwest

natweststaffmember

hmltnangel wrote: »

Just got confirmation of the new charging structure from the missus.......

Balance of overdraft
Fees when customer uses an overdraft
Arranged overdraft up to £300
No daily fee
Arranged overdraft between £300.01 and £2500
£1 a day
Arranged overdraft over £2500
£2 a day
Unarranged overdraft
£5 a day


remember these are for Halifax/bank of Scotland Accounts not RBS ..... only posted in here by accident as I was reading about the RBS charge amendments......

To clarify this, there was an announcement in December 2008 which was when the Reward account came up. All accounts were intended to go over to that structure in 2009(which they said at the time). Can I ask what date they are all now going over to this reward account?

natweststaffmember

robert_m wrote: »

Does that include LLoyds/TSB as well?

No it doesn't since they are a separate bank within the umbrella of Lloyds Banking Group and therefore have different charging structures.

wizk1

esmerellda wrote: »

Is this the Reward Account charges being Rolled out over all the accounts ?

No. The reward account charges are incurred daily. The NatWest ones aren't.

esmerellda

sorry was talking bout the HBOS changes.

RBS still win in my book lol

schlaus

Hi I am a newbie.
I was pleased to see Natwest have reduced the costs of unpaid dd etc especially after I only rang them yesterday regarding a £38 charge. They would not reverse it as I have a goodwill gesture 2 years ago and they only give 1 in the whole life span of my banking with them (which I thought was silly!)
After reading todays news I re rang Natwest to ask them to reduce it to £5 but they have told me they cannot as it does not come into effect as of the 1st October. I explained that I really did not want to go down the road of claiming unfair bank charges for the sake of £38 but if they were unwilling to help then I had no choice to which they replied it was up to me but they could not help! Raaah.

natweststaffmember

I have just spoken to Actionline which is the telephone number for NatWest Online who have said that the new charges DO NOT apply to business accounts. I hope she was wrong but I suspect she is right.

willo65

She was right only personal accounts

natweststaffmember

willo65 wrote: »

She was right only personal accounts

Thank you willo, I wasn't 100% certain since it was telephone banking and even I know their reputation for information

Thankfully YOUR reputation is something I know I can trust:beer:

rwilliams_2

esmerellda wrote: »

Regarding Credit Unions - the only issue i have with them is their accessibility to people who don't live in towns/cities. Otherwise I think they are fantastic and would switch tmw if I knew how.

Hopefully in the future there will be an accesible CU in most major cities, for those then living rurally they would be able to use the current account for day to day banking and in theory would hardly ever need to visit the main office, plus able to access everything online remotely Would love to see the push forward of all Credit Unions, they are very much undervalued in their work locally. You can search the 'association of british credit unions ltd' site to see if there is one in your local area. Hope this helps!

esmerellda

Hiya, I have tried promoting the use of credit unions (but I have had no personal experience for the reasons I explained before) but whilst they are so inconvenient for many it is difficult. The current accounts also attract charges much like bank accounts.
''The accounts are run by individual credit unions, but IT and administration is carried out by The Co-operative Bank. ''

These accounts tend to cost from £1 to £4 a month, allow payment in of salary and benefits, offer debit cards, direct debit/standing order facilities and unauthorised overdraft fees maximum of £15. (which doesnt sound all that much more attractive now?)

I did a while ago set up a forum to discuss and promote CU's ( http://www.legalbeagles.info/forums/forumdisplay.php?f=246 ) but there was very little interest and if you do have further input it would be gratefully appreciated.


Also (I know this isnt really the place) I did get the list of CU's offering current accounts back in march http://www.legalbeagles.info/forums/showthread.php?t=15796


AT the time they did say ''With some regulatory changes in May 2009 the numbers of Credit Unions offering Current Accounts and the takeup of current accounts is set to increase rapidly.'' but I haven't looked at it since then as other things have taken over somewhat so needs updating.