A constituent recently contacted me expressing her concerns over the RBS Group's decision to to deny its estimated 1 million basic bank account holders access to around 80% of UK cash machines.
These customers will only be able to make withdrawals from NatWest, RBS, Ulster Bank or Tesco branded cash machines or by visiting the Post Office.
These customers will only be able to make withdrawals from NatWest, RBS, Ulster Bank or Tesco branded cash machines or by visiting the Post Office.
I was disturbed to learn of this decision as it means that RBS is effectively penalising its poorer and more vulnerable customers. Basic bank accounts, which do not pay any interest and do not allow the user to go overdrawn, are often the only accounts available to those who are on a low income or have got into financial difficulties in the past.
To raise awareness of this issue amongst my parliamentary colleagues, I tabled the following EDM (Early Day Motion):
EDM 2201: RBS Group’s Treatment of Basic Bank Account Holders
"That this House is deeply disturbed by RBS Group’s plans to deny its estimated 1 million basic bank account holders access to 80% of cash machines by restricting them to using NatWest, RBS, Ulster Bank and Tesco branded cash machines or making Post Office withdrawals; notes that this will cause problems for many people, particularly in emergency situations and to those less able to travel easily; and deems that the taxpayer-funded RBS Group is effectively and unacceptably penalising its poorer customers and treating them as second-class citizens."
MPs can show their support for my EDM by signing it.
Basic bank accounts are an important life-line for people who are not able to have full bank account status. I hope RBS will think again.
Related press:
RBS and Lloyds Criticised Over ATM Charges
To raise awareness of this issue amongst my parliamentary colleagues, I tabled the following EDM (Early Day Motion):
EDM 2201: RBS Group’s Treatment of Basic Bank Account Holders
"That this House is deeply disturbed by RBS Group’s plans to deny its estimated 1 million basic bank account holders access to 80% of cash machines by restricting them to using NatWest, RBS, Ulster Bank and Tesco branded cash machines or making Post Office withdrawals; notes that this will cause problems for many people, particularly in emergency situations and to those less able to travel easily; and deems that the taxpayer-funded RBS Group is effectively and unacceptably penalising its poorer customers and treating them as second-class citizens."
MPs can show their support for my EDM by signing it.
Basic bank accounts are an important life-line for people who are not able to have full bank account status. I hope RBS will think again.
Related press:
RBS and Lloyds Criticised Over ATM Charges
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