Personal Account Statements (PAS) are A4 booklets that include charts and graphs to demonstrate how a customer uses his or her money over a 12-month period. About 1 million Royal Bank of Scotland and NatWest customers have already been sent the statements this year.
A spokesman says that the bank, which owns the NatWest and Royal Bank of Scotland brands, has promised to use data to make the information contained in Personal Account Statements (PAS) more “tailored and insightful”.
It is also, he adds, looking at increasing the number of statements sent. They will also be redesigned to make them easier to read.
He adds: “Research has shown that PAS is well-received by customers and really brings to life our commitment to helpful banking.”
PAS forms part of RBS’ customer charter, set out in a bid to make its banks the most “helpful” on the high street.
It also forms part of its commitment to the government-backed midata initiative, which encourages brands to release data collected by brands back to consumers.
The government hopes by getting hold of the data collected by companies, consumers will be able to make better choices when deciding which products and services to buy.
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