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  • FIRST POST
    • Former MSE Helen
    • By Former MSE Helen 17th Aug 11, 4:22 PM
    • 2,324Posts
    • 971Thanks
    Former MSE Helen
    MSE News: RBS punishes basic account holders in ATM crackdown
    • #1
    • 17th Aug 11, 4:22 PM
    MSE News: RBS punishes basic account holders in ATM crackdown 17th Aug 11 at 4:22 PM
    This is the discussion thread for the following MSE News Story:

    "RBS and Natwest basic bank account customers will no longer be able to use rivals' cash machines ..."

Page 1
  • jalexa
    • #2
    • 17th Aug 11, 4:48 PM
    • #2
    • 17th Aug 11, 4:48 PM
    The article says "Basic bank account holders are already often treated as pariahs by banks - this confirms RBS sees them as second class citizens compared to standard current account holders".

    I don't understand the logic of that, certainly with the emphasis on "this". Step/Key account holders were already treated "differently", "less well" if you like, including sufferring an "online" debit card not liked by Pay@Pump and (I believe railway companies). I'm not sure the loss of Link access, especially given Post Office access, is such a big deal.

    I'm assuming, could sombody please confirm, store "cashback" is available.

    Step/Key account holders with standing orders and direct debits and who have a reason to miss Link access should speak to their bank about an upgrade to "free" Select. The answer to that request will certainly indicate whether they are considered "second class".

    My advice - rejoice in having a "loss making" account with excellent online banking and with a card, compared with Select, that exchanges Post Office access for Link access, with very limited possibilities for accidentally incurring charges.

    Meanwhile Select customers must see account charging looming some way down the road. *That* I suggest is what is behind this move.
    Last edited by jalexa; 06-10-2011 at 9:02 AM. Reason: link reason emphasised
  • Techhead
    • #3
    • 17th Aug 11, 4:49 PM
    • #3
    • 17th Aug 11, 4:49 PM
    I'm surprised by this, it will cause real inconvenience, for many reasons. Surely basic account holders are the very people who need access to their money.

    And why are account holders hearing about this third hand?
  • ihateyes
    • #4
    • 17th Aug 11, 4:53 PM
    • #4
    • 17th Aug 11, 4:53 PM
    absolute disgrace......

    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...... thanks very much RBS.....

    Not everyone that has bad credit will have bad credit for their lives, so dont expect me back with ya, and if i ever win the lottery big... dont come crawling to me to invest my money in your schemes...

    And to be frank here..... Full account customers cost the banks more, with unpaid O/drafts, loans, credit cards....

    How many Millions do the banks write over every year as bad debt, and these are people that had accounts with an o/d facility......
  • Matthew-989
    • #5
    • 17th Aug 11, 5:00 PM
    • #5
    • 17th Aug 11, 5:00 PM
    I'm surprised by this, it will cause real inconvenience, for many reasons. Surely basic account holders are the very people who need access to their money.

    And why are account holders hearing about this third hand?
    Originally posted by Techhead
    Customers are starting to receive emails about the change and no doubt a letter will be sent out outlining the change.
  • jalexa
    • #6
    • 17th Aug 11, 5:03 PM
    • #6
    • 17th Aug 11, 5:03 PM

    And why are account holders hearing about this third hand?
    Originally posted by Techhead
    Apparently account holders are hearing before branch staff, which I have to believe otherwise I have been misled. Or another "less nice" word.
    Last edited by jalexa; 17-08-2011 at 5:35 PM.
  • ihateyes
    • #7
    • 17th Aug 11, 5:27 PM
    • #7
    • 17th Aug 11, 5:27 PM
    the taxpayer.... wheather good credit or bad credit fund and bailed this outfit out......

    And in return this is what they give back......

    No doubt this move weill add another 100k to Mr Hesters bonus/pension fund
  • Beamish0
    • #8
    • 17th Aug 11, 5:28 PM
    • #8
    • 17th Aug 11, 5:28 PM
    Vote with your feet with these lousy banks.

    I will wait for the letter from Lloyds TSB (The Shitty Bank) then move all my accounts.

    Their customers need to treat them with contempt.
    • premierfella
    • By premierfella 17th Aug 11, 5:43 PM
    • 863 Posts
    • 475 Thanks
    premierfella
    • #9
    • 17th Aug 11, 5:43 PM
    • #9
    • 17th Aug 11, 5:43 PM
    absolute disgrace......

    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...... thanks very much RBS.....
    Originally posted by ihateyes
    No Post Office? (admittedly limits withdrawals to opening hours though)
    • chambta
    • By chambta 17th Aug 11, 5:48 PM
    • 2,739 Posts
    • 1,011 Thanks
    chambta
    Don't forget you can pay eight quid to change it to a Select Silver Account to escape the restrictions!
  • Doowa
    Why not?
    A profitable bank can afford to subsidise things like inter-bank ATM fees for basic bank accounts, an unprofitable bank cannot - especially when the taxpayer is funding it. Receipt of a taxpayer subsidy doesn't turn the company into an arm of the welfare state, it is still a commercial organisation.
    • Tight Fist
    • By Tight Fist 17th Aug 11, 6:08 PM
    • 384 Posts
    • 90 Thanks
    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
    No Post Office? (admittedly limits withdrawals to opening hours though)
    Originally posted by premierfella
    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.
    Last edited by ihateyes; 17-08-2011 at 6:28 PM.
  • jalexa

    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.....
    Originally posted by ihateyes
    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
    • By Joe_Bloggs 17th Aug 11, 7:06 PM
    • 4,493 Posts
    • 1,583 Thanks
    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
    • By stclair 17th Aug 11, 7:12 PM
    • 6,529 Posts
    • 3,464 Thanks
    stclair
    Don't forget you can pay eight quid to change it to a Select Silver Account to escape the restrictions!
    Originally posted by chambta
    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
    Im an ex employee RBS Group
    However Any Opinion Given On MSE Is Strictly My Own
    • BoGoF
    • By BoGoF 17th Aug 11, 7:17 PM
    • 4,560 Posts
    • 4,178 Thanks
    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
    • By stclair 17th Aug 11, 7:19 PM
    • 6,529 Posts
    • 3,464 Thanks
    stclair
    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 ??
    Originally posted by BoGoF
    I totally agree the banks aways said they would recoupe the money back in one way or other
    Im an ex employee RBS Group
    However Any Opinion Given On MSE Is Strictly My Own
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