Act Now or Pay More

Continuing on what had to be done in class.

RBS and NatWest recently announced that they are making some changes. Not of a major kind, but enough to make each one of their customers, including myself, take a look at it. Considering these are two major banks we are talking about, the changes mainly involve having their customers pay a little extra. This time, it is through overdrafts and text alerts.

The basic idea is that from Febryary 1st 2011, you are charged £6,- extra for every day you fail to pay your overdraft fees. To ‘help’ customers ‘avoid paying fees’, the banks installed a text or email alert called ‘Act Now’, which lets you know when you’re going to have to pay your money. However, nothing in this world is free, so eventually you will end up paying for being told to pay. Ironic or fair?

Susie Wands, Head of Overdrafts, said that that ‘this is good news for customers’ because it will ‘make banking easier’. Now, whether it makes it easier or not, I think I’d rather save the money and spend a little more time figuring out their homepage.

To be honest, those who are old enough to be able to get an overdraft should in my opinion also be old enough to look out for themselves and realize when they are in trouble. If it continues like this, the banks would have to arrange nannies to look after our purses when we want to go to the toilet.

Eva Deckers

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