Les Matheson, CEO of Personal and Business Banking, NatWest and RBS said:
“We want to become a stronger, simpler and fairer bank and be the number one for customer service, trust and advocacy. We’ve already taken a number of steps toward this, such as challenging the industry practice of teaser rates.
“We’re determined to keep doing things differently but we can only continue to rebuild our customers’ trust if they truly believe that we are focused on helping them with their financial needs. This is why we are scrapping all incentives for customer-facing employees in our Personal and Business Banking business.
“We know that our frontline teams are working hard, every day to do the right thing for our customers. I hope that these changes will go further in providing them with the confidence that every conversation they have with our colleagues is one based exclusively on their financial needs.
“Our employees will not lose out as a result of this – they will receive an increase to their annual base pay and the way we pay them will be simpler and fairer.”