RBS, Natwest and Ulster Bank have agreed to pay refunds to more than 36,000 customers, after they wrongly charged them for unarranged overdrafts.
RBS Group, which includes all three banks, said it’s made the pledge after an investigation found it unfairly charged customers for going overdrawn – without alerting them first.
Rules introduced in 2017 require banks and building societies to send customers a text alert when they go overdrawn.However, RBS broke these rules.
A public letter from the Competition & Markets Authority (CMA) said RBS failed to enrol adult personal current accounts (PCAs), which were previously youth accounts, into a programme of alerts within 10 working days.
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