MSE News: RBS punishes basic account holders in ATM crackdown

counterproductive

notts_phil wrote: »

I bet you didn't have much money in there lol. If you can't have a full account then the bank isn't going to be to fussed about loosing the likes of you!!!

So deal with it and move on....

no, on the contrary. I did have a fair amount of money in there and get paid in my bank like everyone else does. So it their loss, not mine. :money: i suppose you work for them and on more money than the prime minister himself

Happy Days

notts_phil

counterproductive wrote: »

no, on the contrary. I did have a fair amount of money in there and get paid in my bank like everyone else does. So it their loss, not mine. :money: i suppose you work for them and on more money than the prime minister himself

Happy Days

Nope but its their business decision!

counterproductive

notts_phil wrote: »

Nope but its their business decision!

Very true, it is their decision but it is also the public's decision what they do too and if that means taking their money out because of this, they will.

The banks tried to introduce a charge for using ATM's a few years back but that was shorted lived after everyone complained and stop using them. I am a person of principles and fairness, doesn't meant to say if i'm poor, rich or average but what they are doing is totally unfair, especially for existing/long term customers too. But at the same time I do not believe in credit or having credit cards or accounts that will give me an overdraft that I don't want or them trying to tempt me into having some form of credit, so the BASIC account suits me just fine, well used to suite me just fine up-until now.

newuser78

I am a basic account holder with Natwest - this is a real inconvenience for me so will be looking to either update to Select or switch bank.

One thing I am confused about is... why £8/month? Where did the figure come from - does it really cost that much to run the account? Why not £5 or less?

chambta

newuser78 wrote: »

I am a basic account holder with Natwest - this is a real inconvenience for me so will be looking to either update to Select or switch bank.

One thing I am confused about is... why £8/month? Where did the figure come from - does it really cost that much to run the account? Why not £5 or less?

You pay for the insurance benefits that the account offers or not. Your choice. £8pm for some will be value, others not.

newuser78

chambta wrote: »

You pay for the insurance benefits that the account offers or not. Your choice. £8pm for some will be value, others not.

cheers, I didn't know insurance is included (my brief understanding was based on the posts here). Just googled and read in detail - 8 quid a month doesn't seem too bad for insurance plus other benefits actually.

ivysgirl

someone may have said this already have had this experience and posted so i apologise if so.

My boyfriend has a basic account and suddenly found he could not use any other cash machine than natwest/tesco etc. he did not receive any letters advising about this change and so thought it was a faulty card. He rang natwest today to find out why the card does not work and was told that anyone with a basic account would have to upgrade to select (silver)and pay £8 per month. She said the standard account no longer exists and that there were no other non-fee paying options.

This is a blatant lie because the Natwest website shows you can upgrade to select which does not charge for cash machine use. This is just their way of forcing people onto this select fee paying account - and before anyone jumps up and down on this post about people with bad credit, my boyfriend has no credit and has a basic account by choice. He has been a lot smarter than me financially and has never been drawn in by these vultures.

stclair

I'm sorry to hear of your experiences. However the change was communicated back in July. This was communicated by letter, insert in bank statements and online. If your OH has a good credit history I would recommend they apply for the select account which is free of charge.

ivysgirl

stclair wrote: »

I'm sorry to hear of your experiences. However the change was communicated back in July. This was communicated by letter, insert in bank statements and online. If your OH has a good credit history I would recommend they apply for the select account which is free of charge.

Thank you for the reply. He received no letters or any other communication about this. My post may not have been clear, but the very point I was making is that they have told him there is no other non-fee paying alternative (he has rang twice and spoken to different people and been told the same thing). Yet the natwest site clearly states the select account is available. So what other reason could there be for natwest employees telling basic account holders this other than to ensure a high uptake of their fee paying account.

Mupette

ivysgirl wrote: »

Thank you for the reply. He received no letters or any other communication about this. My post may not have been clear, but the very point I was making is that they have told him there is no other non-fee paying alternative (he has rang twice and spoken to different people and been told the same thing). Yet the natwest site clearly states the select account is available. So what other reason could there be for natwest employees telling basic account holders this other than to ensure a high uptake of their fee paying account.

i had no letter either, but stclair insists i did...

heads up on this select silver account, i was told about this today, at no point was i told that it would cost me £8.00 per month for the privillage :mad: think i will be checking tomorrow and cancelling if they are.