Natwest: Changes to our Terms from 1 June 2013

MrSilk

Getting updated Terms from your bank is not the most exciting news.

But we are making some positive changes:

Reducing or no longer charging 7 different fees on all our accounts.

Introducing a brand new service from 17th March on our Select account that will help customers avoid going into unarranged overdraft and also some of the fees charged. This is called Overdraft Control and is a free service.

One bit of less good news is our fee for providing a UK Bank Draft is going up from £12 to £20. However, you can use the faster payments service instead. You can send single payments of up to £10,000 through branch, online or Telephone Banking, and it's a free service.

These changes to our Terms will take effect from 1 June 2013.

Here is a summary of the changes to fees:

Fee for copies or details of cheques paid Was £5 now free
Fee for replacing lost or damaged cards Was £5 now free
Fee for returning dividend counterfoils Was £2 now free
Fee for providing details of Visa Debit payments Was £5 now free
Fee for cashing other banks cheques Was £5 now free
Fee for a copy previously issued statement Was £5 now £3
Fee for using your debit card abroad or in a foreign currency in the UK Was £1.25 + 2.75% of value Now just 2.75% of value (min £1)
Fee for issuing a UK Bank Draft Was £12 now £20

Thoughts?

guesswho2000

MrSilk wrote: »

...
Fee for replacing lost or damaged cards Was £5 now free
Fee for cashing other banks cheques Was £5 now free

I've only had to do it once, but I've never been charged for a replacement card in the 10+ years I've been with NatWest? And cashing other banks' cheques...I assume that means making them out to cash and cashing them otc?

Did have a quick read about foreign transactions, basically brings them into line with all other bog standard cards, no longer as much of a "debit card from hell" lol. I'll still be leaving my NatWest cards at home when I'm abroad

And I expect the increased charge for bank drafts is because surely nobody uses them nowadays?!

stclair

The actual changes to the T&Cs can be viewed here:

http://eml.natwest.com/images/655/90277584.pdf

jonesMUFCforever

Most of that list will never be used by most customers so it is irrelevant.
Most banks have charged £20 or more for a bankers cheque for ages.

mpeel68

Overdraft Control looks handy (and free unlike Lloyds offering) but it says its been available for a week or so already and there's no information on the web site about it :-/

System

It will just be like LloydsTSB / BOS / Halifax / Clydesdale / Yorkshire offerings.

They basically decline any transactions that would take you over your overdraft limit and give you an online debit card - bit of a scam for £10/15 per month really.

RBS / NatWest should be commended if they offer it free of charge.

mpeel68 wrote: »

Overdraft Control looks handy (and free unlike Lloyds offering) but it says its been available for a week or so already and there's no information on the web site about it :-/