British banks are warning businesses they may have to start charging them to hold deposits, due to historically low interest rates.
Natwest and Royal Bank of Scotland have sent a letter to over a million customers informing them charges may be applied to accounts which are in credit.
It comes with UK interest rates at 0.5% and expected to fall lower as the Bank of England tries to stabilise the economy following the Brexit vote.
Tom McPhail Hargreaves Lansdown says it's unprecedented in Britain.
IN: "If the…
OUT: …services."
DUR: 30 seconds
http://www.fsnradionews.com/feeds/0726rates-mcphail1.mp3
Natwest and Royal Bank of Scotland have sent a letter to over a million customers informing them charges may be applied to accounts which are in credit.
It comes with UK interest rates at 0.5% and expected to fall lower as the Bank of England tries to stabilise the economy following the Brexit vote.
Tom McPhail Hargreaves Lansdown says it's unprecedented in Britain.
IN: "If the…
OUT: …services."
DUR: 30 seconds
http://www.fsnradionews.com/feeds/0726rates-mcphail1.mp3