Bank customers face rival ATM ban

[calamity jane]

http://uk.news.yahoo.com/bank-custom...183109837.html


Thousands of Royal Bank of Scotland customers have been barred from using cash machines operated by the firm's high street rivals.

Changes brought in by RBS last month to its "basic" account have resulted in customers only being allowed to withdraw money from ATMs operated by the company.

Those signing up to the "basic" account pay no fees and are already unable to hold a chequebook or have an overdraft.

RBS would not confirm how many people are affected by the move, but it could be as many as 8,000.

A spokesman for RBS said: "We are fully committed to offering a free basic account for people who may otherwise struggle to access banking services.

"These account holders will continue to have free access to one of the largest cash machine networks in the UK.

"Our basic account holders will still enjoy free access to one of the largest ATM networks - over 8,000 - in the UK, through RBS, Natwest and Tesco.

"They also can make withdrawals at any Post Office counter."

Marie Burton, financial inclusion expert at Consumer Focus, said: "This is a kick in the teeth for many of RBS's most vulnerable customers.

"We would call on RBS to reconsider this move which will exclude its basic bank account holders from using the majority of the UK's free cash machine network."




CJ

[Celestine]

Re: Bank customers face rival ATM ban

Disgusting prejudicial behaviour.

[Amethyst]

Re: Bank customers face rival ATM ban

Lloyds basic account - the 'cash account' only allows withdrawals from Lloyds machines. And Lloyds can't use the PO or Tescos.

I think its good in terms of the Lloyds machines are right up to date with balance information (I havent used Link for a long while now so don't know if that has improved) - so no chance of withdrawing over limit.

Bad in terms of they do still give you a debit card - which obviously is still subject to shop floor limits and delays on processing - and if you can't get to the bank to get the cash out you end up using your debit card - which carries the extra risk of going over.

Although they do have a good sms service which is free, I get a text every morning with my balance and last few transactions so always know where I am at.

[Caspar]

Re: Bank customers face rival ATM ban

Blatant discrimination against the section of society that least needs it.I can see an argument about making our money harder to get at to help us resist temptation, but it really doesn't hold water.

[Amethyst]

Re: Bank customers face rival ATM ban

mmmm the basic account is free and has less chance of burgering up and incurring charges which then pay for the account, so they are going to make it as easy as they can for you to burger up to incur charges....cynical me. I presume offering withdrawals through the link network etc carries a cost to the primary bank ?

[pos]

Re: Bank customers face rival ATM ban

Arrogant, greedy banks do this because they can.

Successive Govt's have been in awe of the banking system. This, despite the financial S###storms that they have gifted us in recent years!

[WendyB]

Re: Bank customers face rival ATM ban

Are we never satisfied? Seems to me we moan when we can't get at our money, then moan when we can because it allows us to go over our limits? Can't have it both ways, surely?
Maybe it's not discrimination at all, maybe it's just a step in the direction of encouraging people to look after their own finances and take a bit more responsibility themselves, instead of blaming it on everyone else. Surely we don't all need our hands holding and our noses wiping every step of the way?

I have accounts with Natwest and Lloyds. I get texts on a regular basis from Lloyds telling me I've only got £2.16 ( or some similar pathetic amount) left in my account. There is also the provision with Natwest to set text alerts when the account goes under a limit of my choosing. Both of these services are free. Most of the branches are open till 5 o'clock too, and on Saturday mornings. I don't find it difficult to get at my money and I work all day, every day, plus 2 or 3. nights.

And before you all jump on me, no I do not work for a bank and I am certainly no supporter of them either.

Although for some reason, I don't know why, I can't use my Natwest debit card to withdraw cash at the PO counter. It's hardly the end of the world though, as I can withdraw using it at the free Link machine within the same PO about 3 feet away from the counter.

And let's face it, these days there seems to be a Tesco springing up on every corner, and there's Asdas all over the place, which usually have Natwest cashpoints, add to that the fact that cashback is even available from the local corner shop, so unless you live in the middle of nowhere and absolutely never go anywhere, in which case you wouldn't need a lot of cash anyway, I really can't see what the problem is.

Maybe we should all petition for a personal cashpoint in our front gardens?

[CleverClogs]

Re: Bank customers face rival ATM ban

Blatant discrimination against the section of society that least needs it.I can see an argument about making our money harder to get at to help us resist temptation, but it really doesn't hold water.

To the banks, it is not the customers' money but the banks' money.

[pompeyfaith]

Re: Bank customers face rival ATM ban

Whilst this may not present a problem to those living near a town or city it will to those living in out of and puts addition cost to them in both travel and time getting to one.

[CleverClogs]

Re: Bank customers face rival ATM ban

Are we never satisfied? Seems to me we moan when we can't get at our money, then moan when we can because it allows us to go over our limits? Can't have it both ways, surely?
Maybe it's not discrimination at all, maybe it's just a step in the direction of encouraging people to look after their own finances and take a bit more responsibility themselves, instead of blaming it on everyone else. Surely we don't all need our hands holding and our noses wiping every step of the way?

And maybe you'll win the Grand National.

The sole reason for this is that the RBS - which remains about 80% state-owned - is, once more, seeking to maximise its profits regardless of the effects this will have on its customers. The sooner that the RBS Group is broken up into three or four (or more) retail banks, the better the market will be.

[leclerc]

Re: Bank customers face rival ATM ban

And maybe you'll win the Grand National.

The sole reason for this is that the RBS - which remains about 80% state-owned - is, once more, seeking to maximise its profits regardless of the effects this will have on its customers. The sooner that the RBS Group is broken up into three or four (or more) retail banks, the better the market will be.

I think CC has hit the nail on the head on this one. I would add however that I wish they could have at least found some other BS to tell people the reason why rather than telling the truth. Yes there is a cost to the bank but the quote I read which might be more interesting is this one: A spokesman for RBS says: ‘It is unsustainable for us to offer free access to other banks’ cash machines for basic accounts as we face a charge per bank transaction, which needs to be recovered elsewhere.
‘We are fully committed to offering a free basic account for people who may otherwise struggle to access banking services.’


Read more: RBS and NatWest bans 'poorest' customers from using rivals' cashpoints | Mail Online

So clearly, we can't shaft basic account customers like we can with others so we aren't gonna let them cost us money........twazzocks!!!

[CleverClogs]

Re: Bank customers face rival ATM ban

I'm looking forward to the revolution, Comrade Leclerc!

Should we string up the class traitor Hester by his neck or by his goolies?

[teaboy2]

Re: Bank customers face rival ATM ban

Are we never satisfied? Seems to me we moan when we can't get at our money, then moan when we can because it allows us to go over our limits? Can't have it both ways, surely?

Wendy, point is computer software only requires a simply entering of a computer script to prevent people from making purchases that would take them over their limit. The reason they do not use such a script is... Well because if they did, they would not beable to charge those that went overdrawn so its not in their interest.

This new system means people on the those account now have lesser access to ATM's to withdraw money and pay by cash and is therefore only going to encourage more purchases using their debit cards, resulting in people going overdrawn more often than what they may currently go overdrawn. In turn that results in... Yep you geussed it more overdrawn charges and more profit for the banks. They basically now trying to make more profit out of the Supreme courts ruling, knowing they can get away with their charges and right now the banks major concern is losing money they are all desperate and need to make as much profit as possible to survive the current state of the financial markets, its basically make a profit or go broke.

So at the end of the day, the bank is more concerned about its own survival then it is about its customers, and it needs to make money from its customers in order to survive, and what better way then to rank up charges without increase the amounts they charge per charge. And who better than the basic account users, after all where else can they get a bank account with and even if they did, the other banks will simply follow the pack and introduce similar schemes, so where are those on basic accounts going to go for an account other than the post office which isn't much use unless your on benefits.

[leclerc]

Re: Bank customers face rival ATM ban

Wendy, point is computer software only requires a simply entering of a computer script to prevent people from making purchases that would take them over their limit. The reason they do not use such a script is... Well because if they did, they would not beable to charge those that went overdrawn so its not in their interest.
Those sorts of charges have never been applicable to step/key accounts
This new system means people on the those account now have lesser access to ATM's to withdraw money and pay by cash and is therefore only going to encourage more purchases using their debit cards, resulting in people going overdrawn more often than what they may currently go overdrawn. In turn that results in... Yep you geussed it more overdrawn charges and more profit for the banks. They basically now trying to make more profit out of the Supreme courts ruling, knowing they can get away with their charges and right now the banks major concern is losing money they are all desperate and need to make as much profit as possible to survive the current state of the financial markets, its basically make a profit or go broke.
overlimits/overdraft charges are no applicable to the basic accounts so whilst I definitely agree with you that it is done to maximise profits I don't agree with you as to your reason which is not based on the actual announcement which is about the most basic of accounts with no overdraft on them nor overdraft charges applicable to them.
So at the end of the day, the bank is more concerned about its own survival then it is about its customers, and it needs to make money from its customers in order to survive, and what better way then to rank up charges without increase the amounts they charge per charge. And who better than the basic account users, after all where else can they get a bank account with and even if they did, the other banks will simply follow the pack and introduce similar schemes, so where are those on basic accounts going to go for an account other than the post office which isn't much use unless your on benefits.

they can use the post office to access funds as well without charge. Again your post is not valid if you have looked at the specific accounts that are applicable and none of them offer an overdraft or make charges if the person is over their limit unlike standard current account holders with no overdraft facility.

It is for profit though without doubt.

[teaboy2]

Re: Bank customers face rival ATM ban

Wendy, point is computer software only requires a simply entering of a computer script to prevent people from making purchases that would take them over their limit. The reason they do not use such a script is... Well because if they did, they would not beable to charge those that went overdrawn so its not in their interest.
Those sorts of charges have never been applicable to step/key accounts
I disagree, i used to have a step account that is still open and now been made a basic account - and yes charges do apply.

This new system means people on the those account now have lesser access to ATM's to withdraw money and pay by cash and is therefore only going to encourage more purchases using their debit cards, resulting in people going overdrawn more often than what they may currently go overdrawn. In turn that results in... Yep you geussed it more overdrawn charges and more profit for the banks. They basically now trying to make more profit out of the Supreme courts ruling, knowing they can get away with their charges and right now the banks major concern is losing money they are all desperate and need to make as much profit as possible to survive the current state of the financial markets, its basically make a profit or go broke.
overlimits/overdraft charges are no applicable to the basic accounts so whilst I definitely agree with you that it is done to maximise profits I don't agree with you as to your reason which is not based on the actual announcement which is about the most basic of accounts with no overdraft on them nor overdraft charges applicable to them. So why is is in the new terms and conditions for the step account that is now being made a basic account include such charges, for going overdrawn - Their is nothing stopping a person going overdrawn and incurring charges.

So at the end of the day, the bank is more concerned about its own survival then it is about its customers, and it needs to make money from its customers in order to survive, and what better way then to rank up charges without increase the amounts they charge per charge. And who better than the basic account users, after all where else can they get a bank account with and even if they did, the other banks will simply follow the pack and introduce similar schemes, so where are those on basic accounts going to go for an account other than the post office which isn't much use unless your on benefits.

Read more at: Legal Beagles Consumer Forum - Reply to Topic

they can use the post office to access funds as well without charge. Again your post is not valid if you have looked at the specific accounts that are applicable and none of them offer an overdraft or make charges if the person is over their limit unlike standard current account holders with no overdraft facility.

It is for profit though without doubt.

According to the post office website they only offer one post office card account all other service require you to have a bank account with another bank, to withdraw money at the post office. And even with the card account you can only collect your money over the counter with it, and not from an ATM. SO yeappee, can no longer use the local ATM in your village, goto the nearest post office 5 miles away and que for up to an hour on a week day morning when everyones collecting their pensions!!

I suggest you read the terms and conditions of such a new basic account before stating such charges for going overdrawn are not charged if you have a basic account. Yes you can not have an overdraft facility, but my point is you can still, and are now more likely to go overdrawn, as you have less access to where you can get your money from prior to going to a shop with cash in hand and instead have to use your card and can over spend without knowing. Yeah i don't use the Step/Basic account i haven't for 2 years, but i still read the terms and conditions in fact for NatWest accounts the charges are the same as they are for current, personal and private Accounts.

End of day, they can stop all of us going overdrawn or over our agreed limit by entering a simple code that prevents payments that take the account overdrawn from being authorised.

P.s. when they say pay no fee's they mean do not pay for their bank account service, such as monthly subscription fee, like you do with the select silver accounts at natwest. It doesn mean no fees as in no charges as you still have charges to pay when you incur them.