We’re making progress in putting things right and will keep 1,200 branches open until 7pm 25th June and from 8am-6pm for the rest of the week.
We have arranged for our customers to be advanced cash in our branches when they were missing payments and had no available funds.
All ATMs and point of sale transactions are still available.
All our current account customers who have an RBS, NatWest or Mint [...]
The Bank of England‘s executive director has raised the prospect of official intervention against free banking in an effort to clamp down on mis-selling of financial products.
Andrew Bailey also highlighted the debate about the speed at which banks are being required to hold more capital.
Having urged banks to construct contingency plans for the break-up of the eurozone, the top banking regulator also reiterated that the “biggest risk to stability that we [...]
Another bank is raising fees.
U.S. Bank is bumping up overdraft fees for all its accounts beginning June 29, the Minneapolis-based bank confirmed on Wednesday. The bank’s new $35 overdraft fee brings it in line with the country’s biggest financial institutions, including Bank of America.
“This change is part of an overall review of our deposit fees which will include the elimination of other fees,” said bank spokeswoman Teri Charest. The bank, [...]
J.P. Morgan Chase JPM -2.66% & Co. said it will start selling prepaid debit cards in its 5,541 branches this summer, accelerating the banking industry’s push to generate revenue with new fee-based consumer products.
The move by the nation’s biggest bank by assets comes six months after several big banks abruptly retreated from plans to impose monthly fees on traditional debit cards that are linked to checking accounts. Those plans collapsed after consumers [...]
by Jill Krasny and Noelia de la Cruz
The Consumer Financial Protection Bureau (CFPB) has added yet another to-do to its ever-expanding agenda:
On Wednesday, CFPB director Richard Cordray vowed to go after big banks that engage in transaction ordering—that is, ordering transactions from biggest to smallest—to hit customers with hefty overdraft fees.
“With the fast-moving pace of our modern economy, consumers may engage in numerous transactions and pile up multiple overdraft charges before realizing [...]
The new fees could be especially costly for people who withdraw cash from another bank’s ATM. Chase is now charging Illinois residents $5 every time a non-customer withdraws money from a Chase ATM. That’s in addition to any fees charged by the customer’s bank.
“Wow. That’s steep,” says Gerri Detweiler, Credit.com’s personal finance expert. “Even if you take out $100 at a time, that’s still an expensive [...]
by Mary Harada
Bank of America pays almost no interest on checking accounts and savings accounts yet they are going to jack up fees.
Bank of America Corp. told employees Wednesday how it intends to restructure the way it charges customers, though the company avoided any detailed discussion of new consumer banking fees.
But according to a person familiar with the plan, the bank will soon begin testing [...]