Think again

BANK bosses have been told to rethink plans to block access to their rivals’ cash machines.

MP Sir Alan Beith has condemned moves by the Royal Bank of Scotland (RBS) to stop its ‘basic’ RBS and NatWest account holders from using other banks’ ATMs.

As the bank is 83 per cent owned by the taxpayer, Sir Alan is also calling on the Chancellor of the Exchequer to intervene.

He said: “RBS needs to understand that public money comes with public obligations. It needs to act in the interests of the people who own it and not just its bottom line.

“Doing this will hurt people for whom every penny matters. RBS needs to think again quickly.”

Opponents of the change say it will have a disproportionate impact on poorer customers as the basic account, which offers a limited range of services, is often used by people on lower incomes because it does not require a credit check to set up.