NatWest customers face hikes in bank account fees from today - and some will pay £60 more
The fees customers have to pay for certain Natwest bank accounts are rising from today
Natwest has hiked the fees customers pay on some of its packaged bank accounts from today which will see users have to fork out an extra £60 a year.
Packaged bank accounts are a type of premium account that comes with extra features such as insurance cover - but you have to pay a monthly fee. The high street bank confirmed last month that the cost for two of its premium accounts.
Natwest said the cost for its Reward Black account would be going up from £31 to £36 a month, from today (June 28). Additional features for this account include worldwide family travel insurance, access to international airport lounges and UK and European car breakdown cover.
Alongside, Reward Black account holders can also get £9 a month cashback in "Rewards" on two direct debits and £1 in "Rewards" when they log into the mobile banking app. When you earn £5 worth of "Rewards! you can bank this into your Natwest bank account or exchange it for a gift card. However, with the price rise, customers will need to pay an extra £60 a year for this account.
The high street bank is also hiking the monthly fee of its Reward Platinum account. With this account, you get mobile insurance, UK car breakdown cover, worldwide family travel insurance and fee-free debit card purchases abroad. You also get £4 a month back in "Rewards" for two or more direct debits, and £1 a month back in "Rewards" when you log in to our mobile app. The monthly cost of this will rise from £20 to £22 from today. This means you will be paying an extra £24 a year.
Natwest has confirmed that the monthly fee for its Reward Silver account will remain the same at £10 a month, as will the £2 monthly fee for the NatWest Reward account.
A NatWest spokesperson previously told the Mirror: "We're making some changes to the monthly fee with some of our packaged accounts. The cost of providing the benefits associated with these accounts has risen considerably in recent years, and we have frozen our prices for the last five years."