Charges loom for in-credit banking

July 28, 2016 | 6years | NEWS AND INTEREST

Negative interest rates could mean in-credit banking customers are soon paying for the privilege of an account

The possibility of some customers being charged for depositing money has been raised, after a letter was sent to 1.3 million customers across NatWest and Royal Bank of Scotland (RBS) business and commercial banking.

:: What has happened?

Customers across NatWest and RBS commercial banking have been told about changes to their terms and conditions. The banking group has warned it might charge customers in the event of negative interest rates.

:: Will RBS/NatWest's personal banking customers be affected?

The banking brands say there are no current plans to pass negative rates through to personal customers - or to business customers for that matter.

They have said they "will do our utmost to protect our customers from any impacts".

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