NatWest and RBS's actions are a surprise, says Moneynet

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www.moneynews.co.uk > Banking > NatWest and RBS's actions are a surprise, says Moneynet

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NatWest and RBS's actions are a surprise, says Moneynet

The decision by NatWest and Royal Bank of Scotland (RBS) to lower their fees for unarranged overdrafts has come as a surprise, according to Moneynet.

Andrew Hagger, a spokesperson for the comparison site, had believed that most banks would wait until the bank charges legal case had been settled before making any changes.

He claimed that it is a positive step for borrowers as the fees have been significantly reduced, but that the situation still needs clarifying as it is quite complex.

Referring to Natwest and RBS, he said: "They have five different sorts of charges, so it is still quite difficult for customers to know how much they may be charged."

Among the changes, the unpaid item fee has dropped to £5, their paid referral fee is now £15 and the guaranteed card payment fee has been reduced to £15.

Mr Hagger commented that it would definitely not be the end of the conversation regarding fees, because each lender currently has a completely different method of charging from one another.

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