MSE News: RBS punishes basic account holders in ATM crackdown

Tight_Fist

I was only looking to switch to Natwest a couple of days ago for the 2% cashback on purchases but this also appears to have disapeared.
Can anyone confirm this?

ihateyes

premierfella wrote: »

No Post Office? (admittedly limits withdrawals to opening hours though)

rural Post Offices are on decline, and the ones that have survived are opened limited hours.....

Do RBS still own Hanco, one of the atm companies that locate their atm in shops and charge?? (http://www.oft.gov.uk/OFTwork/mergers/decisions/2004/RBS)
Fishy rat here tells me they will swindle us that way.....


though looking at it in 2010 Hanco became part of YourCash Ltd.... so possibly sold off.

jalexa

ihateyes wrote: »

i live in the countryside, one cash machine where i stay (clydesdale). there is an RBS branch - no ATM only open 3 days a week.
SO im stuffed.....

I think this is more rural deprivation than financial exclusion. BTW both things that concern me. However I'm a little puzzled at your negativity. You are not prevented from having more than one basic bank account and the answer is as obvious as the Clydesdale ATM staring you in the face. Given faster payments (OK I've assumed Clydesdale basic accounts accept faster payments), transferring funds from your unloved RBS basic bank account will take seconds with its excellent online banking.

Hitting the banking industry with two money losing accounts. That should make you feel better.

Perhaps you are saying rural broadband sucks, but hey you're posting here...

FATBALLZ

Sorry but a taxpayer owned bank making an annual 9 figure loss should definitely be looking at saving money, while yes this is inconvenient we cannot expect RBS to become profitable again without making some cost savings. If people need cash (which isn't often in reality) they should withdraw enough to last them a while when they are near a cash machine that they can use. That's what I've started doing since moving to an area without a non-charging cash machine.

Viper_7

They cannot afford to cover the costs of customer using other banks ATM's. Hmmm how about the money rolling in from other banks using their machines!
As both Natwest/RBs/Tesco have a large number of ATM's they are an acquirer of other customers- so make money from other banks!
If other banks start the same practice then RBS will lose out...but with the biggest loss being to the customer!

Joe_Bloggs

This spiteful policy will be overturned once it gets out to MPs, campaigners ,charities etc.

Jalexa has suggested the remedy. Open additional accounts with branded cash machines in your area. Use faster payments to move money to where you want to collect it.

Those without the internet will not get to hear about the alternatives and will suffer the most.

J_B.

stclair

chambta wrote: »

Don't forget you can pay eight quid to change it to a Select Silver Account to escape the restrictions!

OR even better still they could upgrade to a the Select account for FREE to escape the restrictions !

http://www.rbs.co.uk/personal/current-accounts/g1/select-account.ashx

http://www.natwest.com/personal/current-accounts/g1/select-account.ashx#tabs=section1

BoGoF

I am prepared to be shot down but numerous warnings were given that the numerous challanges to banks on fees/ppi etc etc (all encouraged by this site) would eventually lead to the end of the 'free' bank account and perhaps this is the first stop towards that ??

stclair

BoGoF wrote: »

I am prepared to be shot down but numerous warnings were given that the numerous challanges to banks on fees/ppi etc etc (all encouraged by this site) would eventually lead to the end of the 'free' bank account and perhaps this is the first stop towards that ??

I totally agree the banks aways said they would recoupe the money back in one way or other

jen245

Joe_Bloggs wrote: »

This spiteful policy will be overturned once it gets out to MPs, campaigners ,charities etc.

Well seeing as Lloyds TSB have been doing the same on their basic account for years, I don't think so.

Its the bank's prerogative what services they offer their customers, and if customers aren't happy with the changes, they can either upgrade their account, or move banks.