Rule change for Nationwide, Lloyds NatWest customers from Tuesday
Banks and payment service providers must give written reasons and 90 days' notice, giving customers more time to challenge closures and find alternatives.
7 Articles
7 Articles
Rule change for Nationwide, Lloyds NatWest customers from Tuesday
The new rules will give customers more time to challenge decisions from April 28
Lloyds Bank, HSBC and NatWest issue major customer rule update
Major high street banks including Lloyds, HSBC and NatWest will be required to follow new de‑banking regulations from 28 April, giving customers greater protection when accounts are closed. The rules mean banks and payment service providers must provide at least 90 days’ notice before shutting down an account or ending a payment service, up from the previous two‑month requirement.The changes apply to new contracts agreed from April 28 onwards an…
Natwest, HSBC, Lloyds face rules change in regulatory shake-up
A number of Britain’s top lenders will on Tuesday face a rules overhaul relating to regulations around de-banking customers. HSBC, Natwest and Lloyds are among the lenders that will have to comply with the new changes that are expected to afford customers improved protections when accounts are closed. New rules – which will come into effect from April 28 – dictate banks and payment service providers must give at least 90 days’ notice before term…
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