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MP slams Royal Bank of Scotland for putting profits over people with ATM charge plans

August 25, 2011 11:10 AM

Tim with local resident outside RBS bank in KendalSouth Lakes MP Tim Farron has called on the Chancellor of the Exchequer and the bosses on the largely nationalised bank RBS to abandon plans that would see thousands of customers unable to use cash machines operated by other banks.

The Royal Bank of Scotland (RBS), which is 83 per cent owned by the taxpayer, will soon stop its 'basic' RBS and NatWest account holders from using other banks' ATMs.

It has been confirmed that existing customers with 'basic' accounts are set to lose access to all ATMs except those operated by RBS.

Opponents of this move have argued that the change will have a disproportionate impact on poorer customers. The 'basic' account, which offers access to a limited range of services, is often used by people on lower incomes as it does not require a credit check before it is set up.

Consumer group Which? have estimated that customers could lose access to around 80% of the free cash machines in theUK.

Tim said: "RBS needs to understand that public money comes with public obligations. They need to act in the interests of the people who own them and not just their bottom line.

"Doing this will hurt people for whom every penny matters. RBS need to think again quickly."