RBS card holders face new charge as bank tries new methods to reclaim unfair late payment charges cut by government legislation The Royal Bank of Scotland is planning to charge its credit card customers if they fail to give notice that they are changing address. The bank says it will charge £12 if customers do not inform it of a new address within 60 days.
It is also planning to treat card purchases of items which it calls "cash equivalent products" as cash advances.
These items, such as gift vouchers and betting, will immediately incur high rates of interest.
This appears to be another case of the banks attempting to recover losses which they suffered when last year the Office of Fair Trading cut the amount they could charge for late credit card payments.
Several card issuers have put up their interest rates in recent months, while others have introduced fees for services.
These include tracing a new address, sending out duplicate statements, and for not using a credit card enough.