TSB to give notice of charges

TSB plans to give customers advance warning of charges to be deducted from their accounts. The new system will be introduced in November. Customers will be sent a statement at least 14 days before charges are deducted, saying what they are, when they were incurred, and when they will be deducted. This will give customers the chance to raise any queries.

TSB is the first bank to offer this service, taking up recommendations by the Consumers' Association.

Both the Co-op and Lloyds banks are planning to introduce advance notification for small business account holders, but not for personal account customers. National Westminster Bank intends to introduce advance notification for small business customers early in 1993 and says that it is reviewing the situation for personal customers.