"We do not spend our time listening to the telephone calls or reading the emails of the majority," GCHQ boss Sir Iain Lobban told the committee.
More top news
The remains of Steven Cook, a British tourist who disappeared more than a decade ago while on holiday, have been found.
The company said it had "considered pricing changes very carefully" and "sought to minimise the impact on customers".
Chief Executive Ross McEwan told ITV News he was "pleased" with the bank's performance and would therefore accept his role-based allowance.