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20 May 2013

Natwest Overdraft Rate Changes

Been a natwest customer for years with a £2k arranged overdraft. Typically i'll go no more than £100 into this each month (towards payday). They are now changing the overdraft from a fixed rate of 18.something% a month, to a £6 per month charge regardless of how long i'm in the red for (typically 2-3 days). I can't help but feel that this has been designed by Natwest to get those that regularly are overdrawn by penalising the people who occasionally 'dip' into their overdrafts. Anyone else spotted this and thinking of changing banks like me??

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