RBS block Basic account holders from using all free ATMs
Here’s another kick up the hoop for the poor and disenfranchised – if you’re a Royal Bank of Scotland customer with a Basic bank account, you can no longer use other banks’ ATMs in order to get at the tiny amount of money you’ve got in the account. That’s because it costs RBS money each time you make a withdrawal and they’re sick of it. And you probably.
The Basic bank account is provided by all UK banks for people who might not be eligible for bank accounts, like bankrupts and, er, dogs. They are offered as part of a commitment to financial inclusion for all. However, this move by the RBS means that Basic account holders will no longer be able to access around 80% of the free cash machines in the UK. The move will also apply to NatWest Basic customers.
That will mean that many RBS/NatWest Basic customers will find themselves sometimes having to resort to using those nasty little portable robot-shaped ATMs that charge you around £1.75 per withdrawal. Either that or incur travelling costs from having to trek off to their nearest source of cash. Yet again, the poorest get hit the hardest. What a wonderful fucked-up society we live in.
In their defence, RBS have bleated that they are, “...fully committed to offering a free basic account for people who may otherwise struggle to access banking services. Our basic account customers will continue to have free access to one of the largest cash machine networks in the country, including RBS, NatWest and Tesco ATMs, and can withdraw cash from more than 11,000 post offices across the UK."
If you’ve got an RBS or NatWest Basic account and are thinking of switching as a result of this, you might not want to consider LloydsTSB – they’ve always denied their Basic customers the opportunity to use other banks’ ATMs. Classy stuff.