RBS and Natwest reduce fees

RBS and Natwest have reduced all their bank account fees

This should be welcomed by all bank account holders and should lead the way for all bank providers to follow suit.

Unpaid item fee reduced to £5 from £38 (with a maximum £50 per month, reduced from £114 per day)

Paid referral fee reduced to £15 from £30 (maximum £90 per month)

Guaranteed card payment fee reduced to £15 from £35 (maximum £90 per month, reduced from £105 per day)

Maintenance charge reduced to £20 from £28

Unarranged borrowing rate of interest reduced to 19.24% EAR

The reduction was effective from 1st October where all banking customers will see the fees for returned cheques, standing orders or direct debit cut to just  £5.00 as apposed to the £38.00 charge.