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  • FIRST POST
    • whiteswan
    • By whiteswan 8th May 17, 6:02 AM
    • 154Posts
    • 96Thanks
    whiteswan
    Natwest are closing my account after 27 years......
    • #1
    • 8th May 17, 6:02 AM
    Natwest are closing my account after 27 years...... 8th May 17 at 6:02 AM
    Hi

    I have a Natwest Current Account opened in 1990 - have an o/d of £5000 on it but I think I have only ever used it on 3 occasions - and it was repaid immediately the next month.

    Just a run of the mill account - wage goes in / dd's come out - nothing spectacular.

    However last week I had cause to telephone Natwest and request a telephone transfer of some cash from my account to a new savings account with another bank.

    Usually I would do this myself via online banking - with my card reader - but the battery had gone in it so I telephoned in to do the transaction.

    At this point I need to point out that I record ALL calls to banks/sky tv/ utility companies etc just in case there is ever any discrepancy in what they tell me they are going to do - (and also because I have had 2 small strokes and my memory is not good at all) - and what they actually do. I have only needed to use this on one occasion in the previous 5 years.

    I politely explain that I am recording the call at the beginning of each and every conversation - just like they do ;-)

    The lady who I spoke with at Natwest seemed to be having a bad day.

    She asked why I wanted to make the transfer - I explained battery in my card reader had expired. She said that she didn't mean that - what she meant was why do I want to transfer the money.

    I explained that it was to go to a savings account. She went on to say Natwest had better savings accounts etc - I politely said I just want to transfer the money please.

    I was asked to clear security..........which was done with no problem.

    She then asked me why I didn't do the transfer when I went into the branch earlier that day. I explained I hadn't been in a branch that day. She insisted I had - and that her system showed this.

    I politely said again that I hadn't. She asked how a payment had gone in that day via a branch if I hadn't been in. I explained a friend had paid in for me using a paying in envelope through their post box deposit system they have in their branches.

    She asked me to clear security again..............which I did.

    She then asks me why I didn't go and pay it in myself.......I declined to answer and said that I had cleared security twice - I had confirmed details of 2 direct debits etc that I have on the account and could she please complete my request.

    She asked again why I didn't go to branch myself.......eventually I explain because I am disabled and its not easy for me to get to a branch.

    At this point I say I feel that she has overstepped the mark and that I really appreciate that Natwest are looking after my money by establishing it is actually myself on the telephone - but this in my opinion has gone beyond that.

    I explain I have completed security twice - as well as the automatic telephone security before you get through to a person and could she please do my transfer.

    She explains that she will only do my transfer when she is happy with my responses.

    At this point I ask to be transferred to complaints - she goes away - comes back and says they are busy but I will get a call in 48 hours (this was 7 days ago - still waiting)

    I asked will she do the transfer - she says yes and ends the call.

    Two hours later transfer still not done - so I call back - apparently the lady had referred it to fraud department - the gentleman completed security with me - and transfer happened instantly......

    3 days later (Saturday Morning) - letter from Natwest - they are closing my account - 60 days notice - wont give me a reference and wont explain why.

    It seems after googling they can do this - they can choose who they want as a customer.

    I wasn't threatening, abusive............not even a raised voice - so be careful when asking to put a complaint in with The Natwest.

    Not too sure where I stand now with regards to a bank account - I have checked my credit file (for what its worth - I know the scores are meaningless ) with Experian and have 999/999 rating - so hopefully wont be a problem - obviously not within RBS group.

    Dave
Page 3
    • Shakin Steve
    • By Shakin Steve 12th Jul 17, 3:05 PM
    • 1,134 Posts
    • 843 Thanks
    Shakin Steve
    Maybe both of these cases are purely for business reasons. If an account is reviewed and found to have not been making the bank any profits for years, they just close them?
    It's just me thinking out loud, before I get flamed.
    I came into this world with nothing and I've got most of it left.
    • Heng Leng
    • By Heng Leng 12th Jul 17, 3:08 PM
    • 4,276 Posts
    • 1,315 Thanks
    Heng Leng
    It more than smarts ,it goes against natural justice . we have been assumed guilty, of what i do not know with no chance of any recourse or defence because the bank can do what it wants and hide behind draconian laws.
    Originally posted by kate sim
    It's not a public service - they can choose to do business with whomever they choose.

    As regards the call recording, if they (NatWest) announce they might record the call then their isn't really an issue - there is an expectation of possible recording by either party.
    • eskbanker
    • By eskbanker 12th Jul 17, 3:45 PM
    • 5,890 Posts
    • 5,851 Thanks
    eskbanker
    It's not a public service
    Originally posted by Heng Leng
    [waits for someone to play the 'we own them' card....]
    • Don80
    • By Don80 12th Jul 17, 3:51 PM
    • 206 Posts
    • 83 Thanks
    Don80
    Maybe both of these cases are purely for business reasons. If an account is reviewed and found to have not been making the bank any profits for years, they just close them?
    It's just me thinking out loud, before I get flamed.
    Originally posted by Shakin Steve
    Hi, one of my friends works for a bank. She said that the only reason to close accounts is where there is a breach of the terms and conditions. Not making profit wouldn't be one. The examples she cited included illegal activity, using a personal account as a business account etc.

    What they can do on a review is decide you don't qualify for that specific account, and move you to an alternative (for example move you to a basic account). This would be more normal.
    • xylophone
    • By xylophone 12th Jul 17, 3:55 PM
    • 23,647 Posts
    • 13,778 Thanks
    xylophone
    HI dave , i feel your pain Nat west have just given my husband and i 60 days notice to close our account , we have been given no reason. We have banked with them for 36 yrs and have been model customers .
    .
    https://bankomb.org.nz/news-and-publications/quick-guides/item/closure-of-accounts

    Annoying and not good practice (see above) but how about a switch to your advantage?
    • keef-WhatStandards
    • By keef-WhatStandards 12th Jul 17, 8:27 PM
    • 59 Posts
    • 0 Thanks
    keef-WhatStandards
    Unfortunately banks and building societies seem to be following most other companies in that they are no longer offering any form of customer service these days.

    Just take you custom elsewhere (you usually are paid to do that nowadays).

    I have multiple accounts and just start using a different one as/when/if I get any problems.
    • Thrugelmir
    • By Thrugelmir 12th Jul 17, 10:41 PM
    • 56,213 Posts
    • 49,594 Thanks
    Thrugelmir
    HI dave , i feel your pain Nat west have just given my husband and i 60 days notice to close our account , we have been given no reason. We have banked with them for 36 yrs and have been model customers .
    .
    Originally posted by kate sim
    Something has caught the banks attention though.
    “Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble”
    ― Warren Buffett
    • keef-WhatStandards
    • By keef-WhatStandards 12th Jul 17, 11:23 PM
    • 59 Posts
    • 0 Thanks
    keef-WhatStandards
    I went into my local Natwest the other day as I hadn't had the promised follow up to opening an account. The manager was very helpful, but it appears the head office policies are somewhat daft.

    1) You can't reply to emails they send.
    2) Applications are deleted after (I think she said) 28 days.
    3) You need to take a passport or driving licence into the branch (both Barclays and TSB did ID checks online)

    So they don't seem to be too bothered about gaining new customs on top of getting rid of existing ones as you outline.
    • stclair
    • By stclair 13th Jul 17, 12:04 AM
    • 6,383 Posts
    • 3,399 Thanks
    stclair
    I suspect the account was closed due to the call being recorded.

    As it might be deemed that there's a potential the Advisor could be indentified and I think the Advisor has a right to a copy of the call if they wanted to request it.

    If the call was made public then you would require the advisors consent to share it.

    Might be worth checking the ICO website for clarification could be wrong.

    Also if you ask for a transcript of a call for example they never put the advisors name in it.
    I Work For the RBS Group
    However Any Opinion Given On MSE Is Strictly My Own
    • Shakin Steve
    • By Shakin Steve 13th Jul 17, 6:17 AM
    • 1,134 Posts
    • 843 Thanks
    Shakin Steve
    https://bankomb.org.nz/news-and-publications/quick-guides/item/closure-of-accounts

    Annoying and not good practice (see above) but how about a switch to your advantage?
    Originally posted by xylophone
    New Zealand?
    I came into this world with nothing and I've got most of it left.
    • nyermen
    • By nyermen 13th Jul 17, 7:48 AM
    • 135 Posts
    • 108 Thanks
    nyermen
    Natwest/RBS has been under pressure to split etc due to being considered too big. It may be they're profiling less profitable customers?

    I can't believe it's suspicion of fraud (which for those amounts seems ridiculous - i do have some experience as I work for a financial software company, my area is risk management as in credit scoring etc, rather than "compliance" which handles fraud etc). For starters, they would have frozen your account, been legally unable to tell you why its frozen, and referred it to their compliance team.

    If you are worried it could be the fraud side, keep an eye on your CIFAS records (https://www.cifas.org.uk/) - you can put in a request for your information. The codes on your file quickly make it clear if there is anything. Probably overkill though.

    I only bank with one bank (yup, stupid I know), these stories keep nudging me to get round to opening a second account for safety.
    Last edited by nyermen; 13-07-2017 at 7:49 AM. Reason: clarification
    Peter

    Debt free - finally finished paying off £20k + Interest.
    • MABLE
    • By MABLE 13th Jul 17, 8:50 AM
    • 3,347 Posts
    • 1,773 Thanks
    MABLE
    To me the customer and bank relationship has just broken down. There appears to be mistrust on both sides hence the reason the account to be closed.
    • Gordon1234
    • By Gordon1234 31st Oct 17, 4:15 AM
    • 1 Posts
    • 0 Thanks
    Gordon1234
    I have also been with NatWest since 1990,just got an email today regarding changes in Jan2018,no problem with that !!but in second paragraph they state," if you are not happy feel free to close account,although we will be sorry to see you leave??" Is this professional??
    • zx81
    • By zx81 31st Oct 17, 5:37 AM
    • 14,386 Posts
    • 15,174 Thanks
    zx81
    Is this professional??
    Originally posted by Gordon1234
    Yes, absolutely.
    • msallen
    • By msallen 31st Oct 17, 9:05 AM
    • 595 Posts
    • 574 Thanks
    msallen
    I have also been with NatWest since 1990,just got an email today regarding changes in Jan2018,no problem with that !!but in second paragraph they state," if you are not happy feel free to close account,although we will be sorry to see you leave??" Is this professional??
    Originally posted by Gordon1234
    What would you prefer them to say - "if you are not happy tough sh!t you're stuck with us anyway" ?
    • Shakin Steve
    • By Shakin Steve 31st Oct 17, 11:35 AM
    • 1,134 Posts
    • 843 Thanks
    Shakin Steve
    I have also been with NatWest since 1990,just got an email today regarding changes in Jan2018,no problem with that !!but in second paragraph they state," if you are not happy feel free to close account,although we will be sorry to see you leave??" Is this professional??
    Originally posted by Gordon1234
    I understand that, if you don’t have a lot of dealings with you bank(s), that this statement may seem rather terse. But, in effect, what they are saying is “We are changing/being forced to change the T&C’s which govern our relationship with our customers. Obviously our customers have to agree to, and adhere to, these changes, but we cannot alter them to suit individuals. If you disagree with our new T&C’s, please feel free to close your account and look for an alternative”.
    I came into this world with nothing and I've got most of it left.
    • Beartricks
    • By Beartricks 31st Oct 17, 10:28 PM
    • 179 Posts
    • 154 Thanks
    Beartricks
    Move to nationwide , if you have a friend who has an account you both get £100 for being referred (ignore PMs from member here) or Marks and Spencer Bank

    Both UK based call centres

    Nationwide is easier as you can go in branch with your ID
    Originally posted by Browntoa
    Not sure if this is against the rules, but I'm with Nationwide if you don't know anyone personally.

    I quite like them. They're probably one of the only companies I've ever dealt with who I have no complaints about so I'd recommend them.
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