Natwest Account review

Natwest have been asking me and my OH for weeks now to set up an appointment for an account review. I have refused in branch and when asked via telephone banking, I said we would not be looking to review our account until we remortgage shortly. I asked why I was being continuously asked for a review and the advisor said - when you are in your overdraft, the advisors are trained to ask you in for a review and that they will advise you to take out a loan to pay the overdraft as it is less interest.

I went into branch yesterday (I go weekly to pay cheques in) and the advisor printed off 2 A4 sheets of paper in the middle of my transaction. I then had a phone call at around 6pm from one of the branch staff members asking to make an appointment for a review. I told her that I was not interested in a review at the moment, not to mention did not have the time. She then proceeded to tell me that I was IN BREACH of my contract as I had not been out of my overdraft for at least 3 days a month since May. That is ABSOLUTE rubbish! I check my account every week and I know for a fact that is not true! I pay in cheques once a week and my wages go in every fortnight. Yes- we use the overdraft facility but the account in constantly active and what they are saying is not true.

I am SO angry! :mad: What is my next step?? I don't want to change accounts as, regardless of this, I like banking with Natwest for many reasons.

Do I write a letter of complaint or do I continue to ignore the harassment - which, quite frankly, it does feel like!

I am angry because it feels as if they just want us to take out a loan which I do not want to do. I am happy with my overdraft facility and if I wanted a loan - I would ask for one!

Thanks in advance. Sorry for the long post!
Official DFW Member 716 - Proud to be dealing with my debts


  • Kavanne
    Kavanne Forumite Posts: 5,093 Forumite
    SO when you pay in your cheques and wages your account goes back into the black for a few days?

    I mean, your OD facility is at like 19% APR have you considered an SBT card to try and pay it off?
    I think you'll just have to keep saying no, I am afraid, or use internet banking instead!

    If you phone up again are are offered this, ask to speak to a member of the Care Team about it, they are available over the phone and can log your complaint.
    Nuns! Nuns! Reverse!

    'I do my job, do you do yours?'

  • latecomer
    latecomer Forumite Posts: 4,321
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    are you sure that the cleared balance is out of the overdraft, dont forget that banks still take a long time to clear cheques through to available balance once they have been paid in.

    If so the I'd make an official complaint and ask them to stop harassing you. Ultimately I'd vote with your feet and take you business somewhere else.
  • ashbart
    ashbart Forumite Posts: 465 Forumite
    Thanks for the advice - I have checked the balance over the last 3 months and it has definitely been in the black for at least 3 days a month, each month. I just think they want us to take out a loan. I don't know what else they expect. Even if I did set up a meeting - I would refuse whatever was offered anyway.

    If it was any other account - I would tell them to stuff it and open another account but, this one has been open for quite some time and it is convenient for me and I like their call centres, benefits, etc. Not to mention we've just bought our first house so I would really like to 'sit tight' in terms of finance for a while before I start making changes. If I had a lot of equity in the house and was somewhat stable, it wouldn't bother me but as the current 'recession' means I'm probably in negative equity, I'd rather make fewer applications, changes, etc....

    What is an SBT card? I REALLY don't want to take out any more loans, credit cards, etc. I've got enough as it is and we've only just paid our first (of 4) credit cards off!!!
    Official DFW Member 716 - Proud to be dealing with my debts
  • mrposhman
    mrposhman Forumite Posts: 749 Forumite
    I have a natwest account and have never been out of my overdraft since I graduated from uni (except once a year when I got my bonus). I graduated in 2003.

    Not once did Natwest tell me I was in breach of my contract. Sounds like someones trying to get you to sign up for a loan to boast their commission to be honest.

    I'm sick and tired of natwest and am in the process of moving away from them as they constantly annoy the hell out of me.
  • ashbart
    ashbart Forumite Posts: 465 Forumite
    Thanks mrposhman - I thought just as much! I do have another account with them which is very rarely used and, as you say, has been overdrawn for years - and they have never contacted me about that account.

    I am drafting a letter which I am going to send to their complaints department. It's a real shame as I did like Natwest - until this. It has left me very upset and disappointed. :mad:
    Official DFW Member 716 - Proud to be dealing with my debts
    KILL_BILL Forumite Posts: 2,183 Forumite
    what they have told you is a load of crap

    alot of people live in their overdraft and when they get paid are proba a couple of quid in the black and then when they start making their outgoings they go straight into the red - there is nothing within the agreement that says that you cannot be more than 3 days in the red in the overdraft

    i would speak to the branch manager first to give them a chance to either confirm the crap or not

    if you dont get anywhere with them then speak to the customer service manager at the head office.
  • amandathepanda
    amandathepanda Forumite Posts: 424 Forumite
    Just politely say no thank you, and also ask for a no marketing marker to be put on your account.
    Staff at Natwest are heavily targeted for this type of thing. I resigned from Natwest this year after 20+ years for this very reason, I felt like I was harrassing customers. Just stick to your guns and refuse the review.
  • Scousebird_2
    Scousebird_2 Forumite Posts: 811 Forumite
    WOW!!! This is awful! In any bank, advisers (or Lending Officers/Customer Service Officers as Natwest call them) are not qualified to GIVE ADVICE-they cannot advise or recommend what you should do-they can only suggest options and then help you to make an informed choice. They cannot force you to take a personal loan as that may not be the best option. Just because you rely heavily on your overdraft does not indicate that you don't have assets and funds with other banks-you may (okay this is rare but it is not good to judge customers-you have to collect all the facts first).

    At the end of the day-if a member of staff was just honest with you and said ''the reason I want to book you in for a review is so I can reduce your outgoings and save you some money, one of the ways I could do that is in overdraft interest you are going to/are paying the bank now'' then you will prob ask how? and I would say ''there are other services that we provide that may help you clear your overdraft and help you start afresh, a personal loan may be a cheaper option than what you are paying now, and would get you out of your overdraft''. But I would also like to look at your other outgoings to see if there is anyway I can reduce the strain on your finances by finding ways of saving you money there too.

    If you said that you weren't interested then I would understand and let you get on with your day. I certainly wouldn't be pressurising you and insisting you have breached your personal banking contract-it's a load of twaddle-as long as you are paying a regular credit into the account and you are staying within your limit then it makes no difference how you use the overdraft.

    If everything you say is how it seems to me then it is gross mis-selling and you must make a complaint, because other customers may be vulnerable and fall for these sales tactics and it's appauling and morally completely wrong.

    It is freedom of choice at the end of the day-a bankers job is to provide the customer with clear, concise, well explained and transparent options to help with their banking needs and then it is up to the customer to make an informed choice, after considering all the options. One of the FSA's principles (the body who regulate banks and advisers) is ''Treating Customers Fairly''.

    If you are not left to make a choice and advisers are giving recommendations or demands, or are knowingly mis-selling to hit targets-then this is breaching a fundamental principle of the FSA's guidelines and you are entitled to make a full compaint.

    Good luck with this-don't let someone intimidate you, you are right to be angry and for as long as the bank provide you with an overdraft facility-you are quite within your rights to use it. As long as you aware of other options and you are happy to pay the fees applied, even if the loan can save you money-you have made that informed choice and that should be respected.
    Loan-£3600 only 24 months of payments to go!!!
    All debt consolodated and cards destroyed!!
    As D'Ream would sing 'Things.....can only get better'!!!
  • natweststaffmember
    natweststaffmember Forumite Posts: 12,063 Forumite
    Ashbart, have you ever had a review with any financial institution?
    It is an eye opener and does get you thinking about your finances. It will update your details as well as seeing if the bank can save you money. There is one word that you can say if you had a review when they ask you to sign on the dotted line;
    The bank staff do not hypnotise you or lock the door or shine bright lights in your eyes.
    Whatever I post I am gonna sound like a salesman so what the heck.
    Are you aware of NatWest's guaranteed to beat on your home insurance(if you do it online and it does not come up cheaper, the branch can make sure it is sent to the underwriter to beat)?
    Are you aware that natwest offer a fee free mortgage package?
    The reviews are wothwhile but by all means complain about the way the advisor spoke to you because that IMHO overstepped the mark by stating it was IN BREACH of the contract. That was a bit too far.
    I have not worked for NatWest Bank since February 2009

    This username is no longer active.
  • Kavanne
    Kavanne Forumite Posts: 5,093 Forumite
    Also, a Super Balance transfer card, will offer you 0% on your overdraft if you transfer it onto it. Here is some info:

    You say you don't want any more credit? OK so reduce your overdraft limit once you've put the balance on the credit card!!!

    19% is a ridiculous APR to be paying, how much do you pay each month in interest on the OD?

    Yeah a natwest loan might not be cheapest for you, but the APR will probably be lower than the OD if you are borrowing more than £3000.

    (PS To be open yeah I work at Natwest but I also have always thought it must be so depressing to live in your overdraft!)
    Nuns! Nuns! Reverse!

    'I do my job, do you do yours?'

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