RBS cut unauthorised overdraft transaction fees to £15 (from £30)

[Guest]

Re: RBS cut unauthorised overdraft transaction fees to £15 (from £30)

I would, as I have written before, beware of Greeks bearing gifts "...Foes' gifts are no gifts;profit bring they none."

Notwithstanding that this is merely a stunt, who wants to bank with the Government? Are they not already intrusive enough? Remember how poorly British Leyland, British Coal, British Steel and British Rail used to work when they were also state owned and run by a Labour Government back in the 1970s?

They simply don't make barge poles long enough.

[StoneLaughter]

Re: RBS cut unauthorised overdraft transaction fees to £15 (from £30)

Difference is, those organisations were RUN by government... RBS is not; it's just holding on to a load of money which is owned by the Government.

[MIKE770]

Re: RBS cut unauthorised overdraft transaction fees to £15 (from £30)

Would anyone here advocate changing their bank account from (say) Alliance and Leicester to these guys on the basis of this news? Or are there reasons to stay away from the RBS group?

The last people only after no one else out there grrrrrrrrrrrrrrrrrrrrrrrrr

[natweststaffmember]

Re: RBS cut unauthorised overdraft transaction fees to £15 (from £30)

The sources I still have at NatWest have exposed a flaw in staff training. The charges DO NOT reduce on October 1st UNLESS your statement date falls on 1st October 2009.
"These changes will come into effect on the first day of your charging period following 1 October 2009 (the first day of your charging period is normally the day after we issue your statement)."
The above is from the NatWest website. The question will come up again and again this month so this is something that will be queried.

[WendyB]

Re: RBS cut unauthorised overdraft transaction fees to £15 (from £30)

Good point Nattie. So that means that as it's now 12th October, and my charging date is 8th (I think) then as I've escaped charges so far this month, any i do have will be at the lower rate. I was led to believe that my statement is issued 3 weeks after my charging date?

[natweststaffmember]

Re: RBS cut unauthorised overdraft transaction fees to £15 (from £30)

Good point Nattie. So that means that as it's now 12th October, and my charging date is 8th (I think) then as I've escaped charges so far this month, any i do have will be at the lower rate. I was led to believe that my statement is issued 3 weeks after my charging date?

It's the statement date that dictates the charging period so for example, if your charging period is 8th of the month then the new charges kicked in on that date and NOT as was perhaps suggested, 1st October. This months charges if you have any would go out 21 days after the 8th or October 29th so next month is when the new charges will have taken effect, ie 29th Novermber if you have accumulated any charges from 8th October to 8th Novermber. I do hope that makes sense because even I think I might have over complicated the explanation.

[WendyB]

Re: RBS cut unauthorised overdraft transaction fees to £15 (from £30)

I do hope that makes sense because even I think I might have over complicated the explanation.

well I thought I understood it, but now am not so sure .:suspicious:

Have decided to wait and see what happens.......but have definitely not had any charges since my last statement date, which were debited on 30th Sept, showing as relating to 9th Sept. So I think that means that my charging period goes up to 9th, then statement/charges debited date is 21 days later which makes it 30th. So this months charging period should be 10th Sept-8th Oct. No charges in that period so no nciking of my dosh on 30th Oct.

Blimey, that took some working out lol

[lousue0906]

Re: RBS cut unauthorised overdraft transaction fees to £15 (from £30)

Hi
I wonder if someone could help me. I had a direct debit bounce on 1 October and RBS have charged me £38. The charge is due to go out on 6 November. Should I have been charged the lower fee?
Thanks

[natweststaffmember]

Re: RBS cut unauthorised overdraft transaction fees to £15 (from £30)

Hi
I wonder if someone could help me. I had a direct debit bounce on 1 October and RBS have charged me £38. The charge is due to go out on 6 November. Should I have been charged the lower fee?
Thanks

The answer is no. It is based on the statement date ie if your statement date is 2nd October then that is the date that the new charges take effect. Only for those who have statements on 1st of the month will it come into force immediately. I think RBS Group bodged this one because you are more confused than anyone else.

[WendyB]

Re: RBS cut unauthorised overdraft transaction fees to £15 (from £30)

And here was me thinking I'd got it. Well I was still confuesed although I didn't think I was lol. The scrotes had sneakily bounced some stuff which I hadn't noticed - bugger!! And they have hit me for 150 quids worth of charges. I am going to go over my statements again and make sure it's right. Thank God any charges from now on will absolutley definitely be at the lower r. And I actually managed to get to payday without being over my limit so am almost positivley certain there will be no charges next month.....

[sweetsarah]

Re: RBS cut unauthorised overdraft transaction fees to £15 (from £30)

The answer is no. It is based on the statement date ie if your statement date is 2nd October then that is the date that the new charges take effect. Only for those who have statements on 1st of the month will it come into force immediately. I think RBS Group bodged this one because you are more confused than anyone else.

hi, yes you can get the charge dropped to the lower rate!, you have to ring apparently the computer system doesnt do it automatically if the statment dates are before the 1st of october. Im just on the phone now getting mine refunded!! Mine are all refunded

[natweststaffmember]

Re: RBS cut unauthorised overdraft transaction fees to £15 (from £30)

hi, yes you can get the charge dropped to the lower rate!, you have to ring apparently the computer system doesnt do it automatically if the statment dates are before the 1st of october. Im just on the phone now getting mine refunded!! Mine are all refunded

They do have something in which if you argue the toss over the issue of the date, that they will refund the difference. Someone from the bank tipped me off on one of the forums of this policy that they have.

[WendyB]

Re: RBS cut unauthorised overdraft transaction fees to £15 (from £30)

can you explain this in words of one syllable please? Are you saying that we can get charges relating to before 1st october (ie for bouncing stuff in September) reduced to the lower rate?

[natweststaffmember]

Re: RBS cut unauthorised overdraft transaction fees to £15 (from £30)

can you explain this in words of one syllable please? Are you saying that we can get charges relating to before 1st october (ie for bouncing stuff in September) reduced to the lower rate?

Apologies for not responding yesterday but I got caught twice during the time I am usually online and didn't ever recover the time that I wasn't chatting. I have heard that the bank will or have looked to refund charges incurred in October to the customer based on the argument that they have changed their fee structure and the refund would be the difference between new and old charges.