Author Topic: N&P Says "Go Away"  (Read 2136 times)

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Offline Colwyn

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N&P Says "Go Away"
« on: July 20, 2017, 11:20:00 AM »
I guess many of us have Norwich & Peterborough accounts because of its zero-fee/zero-loading overseas ATM cash and spending. As we know, N&P will be discontinuing our current accounts. When this was first proposed it was portrayed as a restructuring within the Yorkshire Building Society group which owns N&P and I was expecting to be offered a choice of: (i) transferring my account to a YBS alternative (without overseas spending bonus); or (ii) closing the account and moving it to another bank of my choice. However, now the details have arrived it is not like this. N&P (aka YBS) simply don't want our custom. We are instructed to take our money away and given six month to do it. They don't like our money; it is a nuisance to them. They say "we believe we can best serve our members by focussing on our core business of mortgages and savings".(Letter from N&P, July). So please go away and take your money with you!

Is this yet another signal that the days of "free"* current account banking are coming to an end in the UK?

         [* by "free" I mean you don't pay a fee but the bank makes profit on your deposited money].




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