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RBS stops some customers from using rival ATMs

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by Kay Mitchell

The Royal Bank of Scotland (RBS) has barred some of its customers from using rival cash machines because the bank incurs a charge each time.

The decision will affect almost a million people with basic bank accounts who do not have access to an overdraft or a cheque book.

With immediate effect, they will only be able to withdraw money from RBS, NatWest, Tesco or Morrisons cash machines, or at Post Office branches over the counter.

The bank comments: “It is unsustainable for us to offer free access to other bank ATMs for basic accounts as we face a charge per bank transaction, which needs to be recovered elsewhere.”

However, consumer group, Consumer Focus, described the new measures as “a kick in the teeth” for customers.

“People living in rural areas deserted by bank branch closures may not have the option of other ATMs nearby,” it said.

The move follows a similar decision last June by the Nationwide Building Society who attempted to reduce its queues by making customers with cash cards withdrawing less than £100 to use the branch cash machine.

At the time, the Nationwide said the move was essential and was aimed at speeding up transactions and freeing up staff time to deal with other transactions.

Spanish banking giant Santander has a minimum withdrawal of £300 across many of its outlets, while HSBC‘s basic bank account holders are unable to do any banking over the counter.

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News posted: August 17, 2011

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1 Comment

  1. It’s about time to shut down this BANKRUPT bank.

    Comment by observer — August 17, 2011 @ 6:39 pm

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