Natwest Rant - Won't allow transfers out

coolio_2

Apparantly due to a large amount of fraud at all banks, Natwest now won't allow transfers to other accounts without calling me at home at a pre-determined time to get my 2nd authorisation. They won't call me at work as they don't have my number, and it had to be on file for 30 days before they are willing to use it to call me for additional checks. This is for every single transfer :mad:

jonesMUFCforever

Can't they ring you when you are home as internet banking is supposed to be 24 hours isn't it?
Do they also have your mobile number?

coolio_2

Yes, but while I'm at work, their fraud dept have limited hours and I get paid weekly so this would happen at least once a week

jonesMUFCforever

coolio wrote: »

Yes, but while I'm at work, their fraud dept have limited hours and I get paid weekly so this would happen at least once a week

In that case ever though of changing banks?

nzseries1

Oh my god, really ? Glad I don't bank with them !!

coolio_2

They claim this affects all banks, but I have used others in that time and transferred no problem. Yes, I am seriously thinking about moving.

~Beanie~

I bank with NatWest and have never come across this, I transfer money via online banking every month!

benjus

I sometimes use Egg money manager & Egg Pay to get around this type of issue. For example, once I wanted to transfer some money from my Nationwide current account to another account but I didn't have the Nationwide PIN device with me.

So I went to Egg Money Manager and requested a transfer from the Nationwide account to the other account. It withdraws the money using my debit card, temporarily puts it in the Egg Pay account, then sends a standard BACS transfer to the destination bank. It doesn't seem to take any longer than sending the money directly from Nationwide.

coolio_2

It was my Egg requesting money from Natwest that alerted me to the issue. I really should've put in the first post but it's anything over £2400. I'm having a shift around from savings accounts to savings accounts visa my Natwest (non amendable nominated account attached)

Paul_Herring

coolio wrote: »

I really should've put in the first post but it's anything over £2400.

Now you've just wiped out all the assumptions people were making. Little details like moving 'massive amounts' do tend to set red flags going, especially if they're not regular 'pay my credit card off in full' type. Like when you first start doing it for large amounts.

exel1966

Lloyds have also recently temporarily tightened up on transfers and lowered the daily limits due 'security issues' apparently.

FPS is being blamed by them, but I'm sceptical about that.