RBS Move on ATMs May End Free Banking

RBS Lloyd Banking Group (LLOY) PLC, who are already using ATMs of other banks default - Account customers are involved in the bar.UK retail banking profits for the banks benefit, or at least cut costs, sometimes in the face of an opposition to a country accustomed to ATMs and other services free. July, the UK Payments Council, an industry group that sets pay strategies, 2009-2018 clients - check phase of the project group and reversed by opposition MPs.


talk to the Labour Party, said the financial issues. "Free banking is a concept that is used to remove the chips have become larger."
RBS and about 73 percent of adults over ATM YouGov plc, Lloyd's 9 percent with a rival opposed a ban, according to a survey commissioned by the National Building Society. Elections, which are identified by banks as of 2464 adults on August 18 to 19, "the government owned part of the -."
'Not sustainable'
RBS million affected customers or accounts of less than 10 per cent, Victoria Bonner, an RBS spokeswoman said. Changes will be phased in over the next few months, the bank said. Lloyd McCluskey, a spokesman siyobhana not say how many customers had accounts with no frills. London - based Lloyd's is 41 percent government owned.
"- The banks charge other bank's ATM incurs" Edinburgh - based RBS said in a statement e-mail. "We already have a default accounts of the cost, it is not sustainable long term, this feature. Does not exist"
Basic account holders still more than 8,000 RBS, NatWest and Tesco PLC ATM (TSCO), you can use, plus the Royal Mail can withdraw cash counters, said in a statement. Often pension account holders, cash card and direct debit or default on government benefits, can be arranged overdraft or not the Czech book.
Pole, Saga Group, a provider of insurance and holidays for the Green spokesperson said: "It is rowing back on to banks and other public services," according to a 50. "RBS, 83 percent owned by taxpayers, I think that each country must be part of the bank. "
First Trust Bank, Allied Irish Banks Plc (ALBK) Northern Ireland, the British Bankers' Association for use of ATM customer data base unit is prohibited.
S fee
Banco Santander (SAN) SA and HSBC Holdings PLC (HSBA) a spokesman said they plan to curb the use of an ATM. Both banks have limited branch counter withdrawals. No frills, the HSBC, Santander branch counters and at least 300 pounds ($ 486) allows customers to default on client accounts to prohibit withdrawals.
U.S. banks in its network, Greg McBride, Bankrate.com, a senior financial analyst, Bankrate, Inc. unit, the average ATM surcharge on non-accountholders to go out an average fee of $ 1.41, according to an estimate by Bank management an e - mail , McBride said $ 2.33.
50 pence to 20 pence, while the other banks out of your network clients to use machines, according to the Council to pay to pay.
said.
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Ckeatinge@bloomberg.net on in London, Colin Keatinge: contact the editor responsible for this story,