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Bank charges: RBS and Natwest fees to hit good customers

Changes to overdraft charges at Royal Bank of Scotland (RBS) and Natwest have been criticised for punishing customers who only use the service every so often.

Under the changes, customers who fall into an authorised overdraft of £250 for between two weeks and a month will see costs increase from roughly £1.80 a month to £7.80. This will push yearly costs up from £21.60 to £93.60.

A spokesperson from Which? said: "These new charges are a significant increase for those who only dip into their authorised overdraft each month and will make it harder for people to compare the cost of running their account with other banks."

The consumer magazine added that the Financial Conduct Authority (FCA) should press on with ways to make switching bank accounts easier.

Earlier this year, the government said it hoped to make switching current accounts simpler for consumers in a bid to increase competition within the retail banking sector.

Jennifer Haines

Jennifer's speciality knowledge is credit card changes and balance transfers. ADNFCR-2776-ID-801587672-ADNFCR

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