No More Penalty Charges – One Bank Cares About Customers
In an interesting development the The Unity Trust Bank, which I confess I was not previously even aware of, has decided to do away with the penalty charges so hated by customers.
The bank is a specialist bank for social enterprises, charities and trade unions and as such doesn’t appear to do much personal banking but this is a very positive signal to the other banks who should, now more than ever, demonstrate they actually care about their customers and are not in the business of ripping them off at every opportunity.
In a statement Unity say,”Unity Trust Bank is delighted to announce that it is the first bank in the UK to remove all penalty charges and interest on unauthorised overdrafts from the start of the New Year.”
Kevin Turmore, Managing Director of Unity, said:: “In the current economic climate, we do not believe that it makes good business sense to penalise those who may already be experiencing financial difficulties.â€
Well thank goodness. Someone in the banking industry does have some common sense.
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