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Birmingham Post
Birmingham Post
Business
Jon Robinson

NatWest to refund over 700 firms after it 'forced' businesses to open fee-paying accounts to secure loans

NatWest CMA

NatWest "forced" companies to open a fee-paying business current account in order to secure a loan, according to the Competition and Markets Authority (CMA).

The watchdog said the practice, known as 'bundling', breached its rules over a three-year period. The bank will now issue a total of £600,000 in refunds.

The CMA added that hundreds of companies were charged monthly for a business account that they "may not have wanted or needed".

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