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NatWest increase fees on debit card use abroad

17 April 2007
With a May bank holiday on the horizon and summer in the air, Brits are turning their minds to getting away from it all once more.

But holidaymakers' spending could be lining banks' pockets, has warned.

NatWest has just announced that it will increase the fees UK customers are charged each time they make a debit card purchase overseas from 75 pence to £1.25.

Meanwhile, customers withdrawing cash from overseas ATM points could be charged as much as £5 for the privilege, a £1 hike on the former £4 upper limit imposed by NatWest.

Scheduled to come into effect from June 1st, these changes would hit holidaymakers just in time for the long summer season, director of financial services Nick White noted.

Defending the changes, a bank spokesperson told the Telegraph that "the vast majority of all overseas debit card transactions by NatWest and RBS customers are cash withdrawals for an average of £100".

"These transactions will now be cheaper under the new fee structure," he explained.

Last week, found that the average charge banks impose on customers for credit and debit card cash withdrawals while overseas totals 2.3 per cent of the amount spent.

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