NatWest
overdraft rates.


A little while ago I applied for an agreed overdraft at NatWest but was refused. NatWest said they were more than happy to give me a credit card, but they would not give me an agreed overdraft allowance.

Today I found out that the charge for a non-agreed overdraft, is £6 per day and as a special favour, the bank promised to cap it at £90 per month!!!!

ĎThe first £6 is free,í said the man behind the desk with a smile Ďand thatís why itís good for people to bank with NatWest.í But when I asked him how much I would be charged for a £6.01p overdraft, the story changed. The cost was £6 a day with a maximum in any month of £90.

Many people have a complex array of direct debits. they also have jobs, spouses and children who make many demands on their time and that makes it very easy for them to overlook a small payment here or there Ė to the obvious delight of NatWest, its executives and its employees.

Owned by the public? Is that a joke? What do the public get out of it?

At the end of the war the guards at Auschwitz were not allowed to claim they were just following orders and I think people who work at Barclays, NatWest, Halifax and other rapacious banks should be put under the same rule. How many knowingly sold PPIs to people who didnít need them and then said they were just following orders? They got their commissions and, if they were good 'team players' they also got their promotions, so why should they have been let off because they said they were just following orders?

These people looked the customer in the eye and, knowing full well that the customer could not in any way benefit from the 'expensive' product they were selling, the bank employees continued to smile nicely, utter untruths and close the sale.

We live in evil times.

*****

Listening to the BBC it's clear that the banker's defence mechanism has moved into high gear. All the very rich are now getting in front of the microphones and insisting that although there may have been one or two 'bad eggs' all the other people who work in banks are all really honest, decent and very hard working.

All I can say in response is 'Pull the other one.'

---June 10, 2013---

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