NatWest to give customers control over payment limits

NatWest is giving customers complete control to set their own payment limits.

The bank’s new online banking feature will enable customers to set the maximum amount that can be transferred from their account in a day.

The move is part of NatWest’s drive against unauthorised financial fraud losses.

According to data from the bank, 95 per cent of retail banking customers have never paid someone more than £5000.

In response, NatWest is automatically reducing the limit to £5000 for all retail customers who have never made a transfer for more than that amount.

Customers will be able to increase or decrease this amount when they want.

“For the first time customers are being given the ability to set a payment limit most suitable to their needs which in turn will help to protect them from the life changing impacts of fraud and scams,” said Jonathan Leslie, fraud prevention manager, NatWest.

    Share Story:

Recent Stories


New Business Frontiers
FStech’s Mark Evans discusses the future of financial services with Liu Jianning of Huawei, covering the limitations that current thinking can impose, how financial institutions can embrace technology to be both agile and resilient, and making space for the organisation to focus on the job of creating innovative business models and on delivering business value for their customers.

The Future of Intelligent Finance
FStech Group Editor Mark Evans sits down with Jason Cao, President of Global Financial Services Business Unit, Enterprise BG at Huawei ahead of its Intelligent Finance Summit which was held on 3rd and 4th of June in Shanghai. This Q&A delves into key trends in digital transformation of the financial services industry as well as a look at how data, robotic infrastructure, intelligent storage and innovative technologies are shaping the future for FSIs.

Cracking down on fraud
In this webinar a panel of expert speakers explored the ways in which high-volume PSPs and FinTechs are preventing fraud while providing a seamless customer experience.