NatWest Business Banking Terms Changing...

[DimPrawn]

Switch to Yorkshire bank. Aye up lad. Free for 24 months, then £5 a month.

Business bank accounts

[WTFH]

Just arrived through the post today.

Page 7 "We reserve the right to charge you a negative rate of interest. If we intend to charge negative interest, we'll always give you notice in accordance with General Term 11.3"

They have also detailed some payment timescales the accounts currently have within the EEA and protection on direct debits under EU law. I guess by clarifying that, it makes it easier to take out.

[Mordac]

They'll all do it just like they all give tulipe positive interest at the moment.

Well, yes, we all accept no interest, but the question remains - how do they charge interest on a credit balance? The more in credit you are, the more they charge?

[Mordac]

Switch to Yorkshire bank. Aye up lad. Free for 24 months, then £5 a month.

Business bank accounts

That's what Natwest said, free for 2 yrs, then basic charges (for bank transfers, direct debits etc.).

[DimPrawn]

Well, yes, we all accept no interest, but the question remains - how do they charge interest on a credit balance? The more in credit you are, the more they charge?

Yes, negative interest rates work like that. If you have a lot of money in there, you will pay a lot of interest.

Best withdraw all the money as deposit money and buy a dozen BTL on huge leverage.

Only those in massive debt will survive the coming debt splurge.

Is that a helicopter I can hear?

[AtW]

And do what, if all banks are going the same way? (which they may have to if central bank interest rates go negative)

Don't vote Brexit next time, how about that???

[Mordac]

Yes, negative interest rates work like that. If you have a lot of money in there, you will pay a lot of interest.

One way to lose a hell of a lot of customers I suppose, I think I'm about to be one of their exes...

[AtW]

Well, yes, we all accept no interest, but the question remains - how do they charge interest on a credit balance? The more in credit you are, the more they charge?

Yes, same way as if you actually borrowed the money!!!

[WTFH]

One way to lose a hell of a lot of customers I suppose, I think I'm about to be one of their exes...

I suspect you'll find most banks will be doing the same, and those that don't may find themselves going under.

[SunnyInHades]

Best withdraw all the money as deposit money and buy a dozen BTL on huge leverage.

Or slam it in 'prizes not interest rates' premium bonds

"Savers plough an extra £14bn into Premium Bonds
Average return cut to 1.25%"
20 July 2016