NatWest’s taken a small step on credit card charges – now it should lead the way with flexbility on applying them
Banks have made a big deal about being more polite to staff and staying open at times that might better suit customers – and then spending vast amounts on TV adverts to convince us that theyre doing a good job of it.
Good manners and convenient opening times, youd think, would be the basics for any business. Banks, however, have so far been able to make tens of billions of pounds a year without feeling the need toget that right. Maybe weve all just come to accept it.
One of the things that makes customers really angry is the uncompromising approach banks now apply on credit card charges.
The gravy train of stinging customers with unfettered credit card charges, often £35 for the smallest errors, was outlawed in 2006. Penalty fees are now limited to £12. But it means banks, keen to make up the lost income,have since shown little mercy in how they are applied brushing aside even the most plausible explanations for a late or missed payment.
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