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RBS and Lloyds asked to explain cash machine restriction plans
THE Treasury select committee has called for an explanation from banks planning to restrict which cash machines basic bank account holders have access to.
Committee chairman Andrew Tyrie wrote to RBS and Lloyds about their schemes after consumer groups said the they could affect some of the most vulnerable in society.
A million RBS customers with basic bank accounts have been told they will only be able to withdraw money only from RBS, NatWest, Tesco or Morrisons cash machines. The bank blamed costs for the move.
Tyrie wrote: “We are concerned about the restrictions Lloyds and RBS are placing on basic account holders access to other banks’ cash machines.”