NatWest to Stop Paying Interest

Natwest are to stop paying interest to credit balances on a range of their accounts.

These accounts include:

Advantage Gold
Private Bank Account
Current Plus
Student Account
Graduate Account
Cash Account
Step Account

Source: booklet through the post. I have no scanner but im sure this information will be on their site, I couldn't find it when I looked.

I find this #ing disgusting. We lend them our money which they then do all sorts of dirty things with, and they are now giving us NOTHING in return. # them.

Guess what bank I will no longer be using, now there is no incentive at all.

The worst thing about this is its impossible to do much without a bank account now.

Does anyone in the UK know of any ethical organisations who offer a similar service that I can set up Direct Debits and stuff on? (surely there must be 1)

Just found this: uk.finance.yahoo.com...

Seems to back up what your talking about, at the bottom of the article a spokesman says: "Our customers consistently tell us that the credit interest rate is not the most important feature of their current account as they mainly use it for making day-to-day transactions and not as a home for their savings. They tell us the most important thing to them is quality of service."

I dont bank with natwest but now im curious to see if my bank have stopped paying interest also...

I am struggling to find an alternative. Its pissing me off. I tried smile but they rejected my application, I guess I dont have a high enough income for them.

Why the hell must I have a bank account? Why cant I just do things without one like they did even as recently as 5-10 years ago?

The main reason pepole dont care about interest paid to them is because on most accounts its pathetically low to begin with! This is beside the point though because they would NOT EXIST in the way they do now without our money.

I've not had a bank account in years. It's great, no bank charges, no nasty letters, and nobody gets their hands on my money unless I give it to them.

Who was it told you you needed a bank account again? Why did you listen to them?

reply to post by Firefly_


So true, ive just realised i cant remember the last time i even saw interest paid on my statement (probably because my bank stopped too!) but even before it was nothing to write home about.
Maybe i should give up banks too, how hard can it be?