NatWest Business Banking Terms Changing...

**OwlHoot** · 20 July 2016, 11:42

Originally posted by WTFH View Post

They're changing the Ts&Cs to allow them to charge interest if you are in credit and "future market conditions" force it.

Ah right, so negative interest rates are on the way!

I predict a spate of burglaries and murders, when loads more old timers start keeping wads of notes in their mattresses!

**AtW** · 20 July 2016, 11:44

The good news is that most people don't have any serious money in the first place, so all good - Bank of England wealth tax of 1% per year on cash balances to fund infrastructure, welcome to the Second Conservative Majority Govt...

**The Spartan** · 20 July 2016, 11:44

Originally posted by WTFH View Post

They're changing the Ts&Cs to allow them to charge interest if you are in credit and "future market conditions" force it.

They can feck right off, if that's the case I'll be moving elsewhere.

**Mordac** · 20 July 2016, 11:47

Originally posted by WTFH View Post

They're changing the Ts&Cs to allow them to charge interest if you are in credit and "future market conditions" force it.

I'm with Natwest Business, and one question (I haven't had the letter yet, or if I did, I may have assumed it was spammishness and chucked it, they do send a lot of spam) how can they charge interest on a credit balance?

**AtW** · 20 July 2016, 11:50

Originally posted by Mordac View Post

how can they charge interest on a credit balance?

1. Update Terms and Conditions
2. Notify customers who normally never read them anyway
3. Charge interest on a credit balance.
4. Lend out same money at 20-30%
5. PROFIT!!!

Who do you think the City will be compensating their loss of profits from Brexit? Us!!!

**AtW** · 20 July 2016, 11:51

Originally posted by The Spartan View Post

They can feck right off, if that's the case I'll be moving elsewhere.

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

**DimPrawn** · 20 July 2016, 11:58

Close your Natwest account, simples.

**barrydidit** · 20 July 2016, 12:00

Is that in addition to any monthly service fee they may charge? (I'm not with NW btw)

**OwlHoot** · 20 July 2016, 12:03

Originally posted by DimPrawn View Post

Close your Natwest account, simples.

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

Doesn't seem very likely admittedly, because it introduces a whole load of new problems. But there has been talk about it.

Next thing you know steep withdrawal fees will be introduced, to discourage bank runs!

NatWest Business Banking Terms Changing...