RBS to defer loan and mortgage payments by three months for customers struggling due to coronavirus – The Sun

RBS and NatWest have promised up to three-month payment holidays for customers whose finances have taken a hit due to coronavirus.

The banking group has told the BBC that mortgage and loan repayments can be deferred by up to three months.

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On credit cards, it's reportedly said it will waive cash advance fees applied when people use their cards to withdraw cash, as well as allow customers to apply for an increased temporary credit card limit.

It's also supposedly going to let customers request an increased cash withdrawal limit of up to £500, and waive early exit fees for customers closing fixed savings accounts as they need access to cash.

The Sun has contacted the RBS Banking Group to confirm this and we'll update this story as soon as we get a response.

RBS and NatWest have both already said customers in need of financial help as a result of coronavirus should contact it via private message over social media or via secure message over its app.

It adds that people struggling to get into branch because of the virus should also get in touch, as well as consider using mobile app and online banking instead.

The bank has already pledged a £5billion working capital fund to help small- and medium-sized businesses hit by coronavirus, as well as offer them loan repayment holidays and temporary emergency loans with no fees.

Banks, building societies and credit card providers routinely offer payment holidays or freeze or waive charges for customers struggling with debts who get in touch.

But trade body UK Finance warned last week that banks need to give customers bigger overdrafts and mortgage holidays if they're struggling particularly due to coronavirus.

RBS does, however, warn that it will never ask you for your full PIN or password, card reader codes, or ask you to move money from your account.

It comes as scammers have been sending fake coronavirus emails and texts to try and steal your personal details.

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