Natwest Current account criteria change ?

just_about · 14 September 2009 at 6:36AM

hi guys,

I applied for a natwest current plus account on friday and got a 'agreed in principle' message at the end of the application and also a cheque book request page where i had the option to request for a 20 or 40 leaves cheque book.

Also the account selection page where it shows the 'type of accounts' available to you after the completion of the application, indeed had the 'current plus' account option for me, as compared to the step or cash account account options it showed me when i applied for the current plus account the last time in july, which pretty much meant that i was credit scored through out the application and was declined for the current plus account and could only have the step or the cash card account.

However what confuses me and my question is that has natwest relaxed their criteria for current accounts in the last three months??

as nothing much has changed in my credit file in this three months.

Also does getting the 'agreed in principle' and the cheque book request page meant that i have got the account and only need to sign and send the agreement form and id to get the account open ? Has anybodu had this before and still got declined or with the current plus option showing and the agreed in principle pretty much means the account is in the bag ? Thanks in advance !!

never-in-doubt · 14 September 2009 at 7:00AM

Hi

The agreement in principle means little, when you sign and send back the forms they will then go to AVU (application verification unit) and be checked again. There are loads of threads about this, just look for Natwest on here mate.

Basically, I had the same agreement in principle, sent back the forms got my chequebook etc and then a letter saying the account was closed, all within a day - the letter came from AVU who said I failed to meet their criteria.

So there you have it, usually we'd say when you get the card then and only then do you know if you've been successful but as with Sygma Bank and Barclaycard, they are now cancelling accounts they have already agreed to - within the same week!

Maybe all applications now go for additional checks, who knows? You need stclaire or someone to come and post as they work for Natwest I think...

stclair · 14 September 2009 at 10:40AM

just_about wrote: »

hi guys,

I applied for a natwest current plus account on friday and got a 'agreed in principle' message at the end of the application and also a cheque book request page where i had the option to request for a 20 or 40 leaves cheque book.

Also the account selection page where it shows the 'type of accounts' available to you after the completion of the application, indeed had the 'current plus' account option for me, as compared to the step or cash account account options it showed me when i applied for the current plus account the last time in july, which pretty much meant that i was credit scored through out the application and was declined for the current plus account and could only have the step or the cash card account.

However what confuses me and my question is that has natwest relaxed their criteria for current accounts in the last three months?? as nothing much has changed in my credit file in this three months.

Also does getting the 'agreed in principle' and the cheque book request page meant that i have got the account and only need to sign and send the agreement form and id to get the account open ? Has anybodu had this before and still got declined or with the current plus option showing and the agreed in principle pretty much means the account is in the bag ? Thanks in advance !!

With Natwest/RBS online applications the agreed in Principle means next to nothing really.

They will now send you loads paperwork out etc for you to sign and return (this is system generated).

However once the AVU get hold of your application and start digging into the CRAs
information more you could possibly at this point get declined.

You might even get sent a new details of your new bank account, however a few days later you
may get a letter stating they are closing the account as in NID situation. OR you may even get a decline letter
before you've even sent the paperwork back.

Anyone making an application will get the cheque book request towards the end of the application. Such as it asks you
how would you like your name to be displayed on your bank card etc.

Its abit of a botched up system really to be honest with you. I think they should take that agreed in principle
of the website and change it to "we will contact you shortly" or something rather than building peoples hopes up.
opinion

just_about · 14 September 2009 at 6:41PM

Thanks a lot guys for the help !! I totally agree with stclair that they should change that agreed in principle, as it makes you believe that you have got the account and only need to send the paperwork to get it open !! Reading NID's case I am not at all building my hopes up, but last time i applied i did not even get the current plus account options at the end the only i accounts it would let me have is the step or the cash card account. fingers crossed, will kepp u guys updated any way !! thanks again

Tally-Ho_2 · 21 September 2009 at 11:03AM

Just a quick question. I have had a Natwest Step Account with a Solo card for the last six or so years.

On Friday, i went into my Natwest branch to see about uprating my account (to get a visa debit card). The lady tapped my details etc into the computer and said it had offered me their 'Advantage Gold' Account with a Cheque Book and that I would get a Visa Debit card with a Cheque Guarantee. She said if I did not want the 'Advantage Gold' they would cancel that part if I asked within two weeks and the account would revert to a current (free) account.

Thus I filed out and signed the forms there and then.

My question is, was the credit check done at the branch when the lady adviser was inputting stuff onto the computer? Could i still be declined the cheque guarantee card and just issued with a 'full authorisation' visa debit? It's just I had a few credit problems a couple of years back but ran my Step account faultlessly since I opened it six years ago. However i was quite surprised when the lady said it would be a Visa Debit with Cheque Guarantee that i would be getting. I intend to cancel the 'Advantage' shortly and just use the free account as i have no need for the 'added value' products if that makes any difference.

Thanks

Tally

never-in-doubt · 21 September 2009 at 4:02PM

Tally-Ho wrote: »

Just a quick question. I have had a Natwest Step Account with a Solo card for the last six or so years.

On Friday, i went into my Natwest branch to see about uprating my account (to get a visa debit card). The lady tapped my details etc into the computer and said it had offered me their 'Advantage Gold' Account with a Cheque Book and that I would get a Visa Debit card with a Cheque Guarantee. She said if I did not want the 'Advantage Gold' they would cancel that part if I asked within two weeks and the account would revert to a current (free) account.

Thus I filed out and signed the forms there and then.

My question is, was the credit check done at the branch when the lady adviser was inputting stuff onto the computer? Could i still be declined the cheque guarantee card and just issued with a 'full authorisation' visa debit? It's just I had a few credit problems a couple of years back but ran my Step account faultlessly since I opened it six years ago. However i was quite surprised when the lady said it would be a Visa Debit with Cheque Guarantee that i would be getting. I intend to cancel the 'Advantage' shortly and just use the free account as i have no need for the 'added value' products if that makes any difference.

Thanks

Tally

Think you'll find that you will get the card applied for, if the branch told you but sure someone like stclair or kavanne can confirm for you

Congrats by the way - well done :T

stclair · 21 September 2009 at 4:11PM

never-in-doubt wrote: »

Think you'll find that you will get the card applied for, if the branch told you but sure someone like stclair or kavanne can confirm for you

Congrats by the way - well done :T

Did the advisor mention anything about the system flagging up a referal? and someone would be in touch with you?

If no then hey pesto sounds like you made the grade and well done.

Is your new account showing on your online banking yet?

Once it is give telephone banking a call and ask them to confirm the card type being sent to you.

PS Some sort of credit search would have taken place (well should have done).

never-in-doubt · 21 September 2009 at 4:17PM

stclair wrote: »

Did the advisor mention anything about the system flagging up a referal? and someone would be in touch with you?

If no then hey pesto sounds like you made the grade and well done.

Id ring up telephone banking and enquire about your new card and ask them to confirm the card type being sent. Sneaky i know but itll put ya mind at rest!

PS Some sort of credit search would have taken place (well should have done).

And as if on cue - enter stclair :beer: :beer:

Cheers mate, I assumed that if it was referred they'd say so, well they did with me! :rolleyes:

stclair · 21 September 2009 at 4:20PM

never-in-doubt wrote: »

And as if on cue - enter stclair :beer: :beer:

Cheers mate, I assumed that if it was referred they'd say so, well they did with me! :rolleyes:

MSE is getting very addictive

never-in-doubt · 21 September 2009 at 4:29PM

stclair wrote: »

MSE is getting very addictive

LOL, soon you'll be a 10,000 poster! :rotfl::rotfl:

Tally-Ho_2 · 21 September 2009 at 4:53PM

Hi all,

Many thanks.

No, the lady at the branch said nothing about any referral. The lady showed me into an office, then using the details from my Solo card, she pulled up my details on the computer, tapped away on the computer for a while then said I could have Advantage Gold and I would get a cheque book and visa debit with a cheque guarantee on it. She went on to explain I could cancel Advantage Gold within 2 weeks if I didn't want it and it would revert to a free current account.

Yes, my new account has appeared on Internet Banking. I will wait for the new debit card to arrive before swapping things over to the new account. It might sound silly but I daren't ring them to ask about the card , I just want to get it in my grubby palm!

Tally

Natwest Current account criteria change ?

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