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Natwest's double standards.....
Brightness
Posts: 293 Forumite
OK, so I go online last night to check my balance as I have a DD due out today (which just happens to be a NW loan). Now bear in mind that yesterday was the 25/08/08. I look at my statement to find I am overdrawn. How can this be I ask myself as I have been really careful....
NWB have only taken out todays payment yesterday but with today's date on it and then put me as overdrawn. I had money to pay in anyway, which, had it not been a bank holiday, would have been in there yesterday. I go in today and pay the money in and then ask the girl why it was taken out yesterday but not due out until today. She got all stroppy and said it was my own fault for not having enough money in the account and yes I'd have to pay the charges!
Again, I repeat that today is the 26th and the payment was dated the 26th but was taken yesterday - today, first thing, the money (and more) was there to pay it. She replied 'But you used your card on the 22nd knowing full well that there wouldn't be enough in the account to pay the DD!' She then went on to inform me that 'This is what customers want' I say 'What? They want the banks to steal their money from them?' She says 'No, they want money credited the second it's paid in so we have to take it when it's due'.
I try explaining that it's NOT due until today and she says that it technically has to be in the account the day before (how you're supposed to manage when it's the day after a BH I don't know).
Next thing, my mate's hubby comes out of the managers office fuming. we get chatting and it transpires that he's just paid a lump sum into their account in cash and has been told that it will not be available for standing orders or DD's for 3 days!!!!!!!
Someone somewhere in Natwest is telling porkies and now they have two more extermely dissatisfied customers.
NWB have only taken out todays payment yesterday but with today's date on it and then put me as overdrawn. I had money to pay in anyway, which, had it not been a bank holiday, would have been in there yesterday. I go in today and pay the money in and then ask the girl why it was taken out yesterday but not due out until today. She got all stroppy and said it was my own fault for not having enough money in the account and yes I'd have to pay the charges!
Again, I repeat that today is the 26th and the payment was dated the 26th but was taken yesterday - today, first thing, the money (and more) was there to pay it. She replied 'But you used your card on the 22nd knowing full well that there wouldn't be enough in the account to pay the DD!' She then went on to inform me that 'This is what customers want' I say 'What? They want the banks to steal their money from them?' She says 'No, they want money credited the second it's paid in so we have to take it when it's due'.
I try explaining that it's NOT due until today and she says that it technically has to be in the account the day before (how you're supposed to manage when it's the day after a BH I don't know).
Next thing, my mate's hubby comes out of the managers office fuming. we get chatting and it transpires that he's just paid a lump sum into their account in cash and has been told that it will not be available for standing orders or DD's for 3 days!!!!!!!
Someone somewhere in Natwest is telling porkies and now they have two more extermely dissatisfied customers.
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Comments
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Brightness wrote: »OK, so I go online last night to check my balance as I have a DD due out today (which just happens to be a NW loan). Now bear in mind that yesterday was the 25/08/08. I look at my statement to find I am overdrawn. How can this be I ask myself as I have been really careful....It would have been showing on there since the Saturday.
NWB have only taken out todays payment yesterday but with today's date on it and then put me as overdrawn. I had money to pay in anyway, which, had it not been a bank holiday, would have been in there yesterday. I go in today and pay the money in and then ask the girl why it was taken out yesterday but not due out until today. She got all stroppy and said it was my own fault for not having enough money in the account and yes I'd have to pay the charges! They can override a return decision and the bank use what is called an "auto-sweep" facility to capture CASH paid in on the same day".
Again, I repeat that today is the 26th and the payment was dated the 26th but was taken yesterday - today, first thing, the money (and more) was there to pay it. She replied 'But you used your card on the 22nd knowing full well that there wouldn't be enough in the account to pay the DD!' She then went on to inform me that 'This is what customers want' I say 'What? They want the banks to steal their money from them?' She says 'No, they want money credited the second it's paid in so we have to take it when it's due'.No idea what she is talking about to be honest and I would not have explained that in that manner.
I try explaining that it's NOT due until today and she says that it technically has to be in the account the day before (how you're supposed to manage when it's the day after a BH I don't know).Its about working days and the last working day was Friday and so anything due OUT or IN the account, over the weekend, would show on the saturday and as it was a Bank Holiday it would have shown Tuesday's outgoings.
Next thing, my mate's hubby comes out of the managers office fuming. we get chatting and it transpires that he's just paid a lump sum into their account in cash and has been told that it will not be available for standing orders or DD's for 3 days!!!!!!!Without knowing more, I could not comment unless they have paid in cash AND cheques on a Saturday opening branch and that the vouchers(cash and cheques) had already been sent off for processing and therefore meaning they could not reverse the dual cash/cheque credit. Any chance you could ask for more details because CASH on its own goes in immediately
Someone somewhere in Natwest is telling porkies and now they have two more extermely dissatisfied customers.
Possibly to the above comment but it was very poorly explained to you as to the why. Secondly, I am not sure exactly what was the issue with your friend's hubby because it does not make sense to me.0 -
Doesn't make much sense to me either. How can they charge you for money taken out a day too early though? I mean, it even gave today's date at 5pm yesterday! The money was in there 10 minutes after opening today.
Unfortunately I was out for the day or I'd have phoned the lending centre and given it to them both barrels. I was hoping the lovely manager was going to serve me as he is very good at cancelling the odd charge especially if it's not your fault.
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It wasn't taken out. It was earmarked in readiness for sending today. You were still earning interest on the money yesterday.Brightness wrote: »Doesn't make much sense to me either. How can they charge you for money taken out a day too early though? I mean, it even gave today's date at 5pm yesterday!
I assume you mean 09:10? The problem here is that your DD left the account at 00:01 this morning...over 9 hours before you made your cash deposit.The money was in there 10 minutes after opening today.0 -
Brightness wrote: »OK, so I go online last night to check my balance as I have a DD due out today (which just happens to be a NW loan). Now bear in mind that yesterday was the 25/08/08. I look at my statement to find I am overdrawn. How can this be I ask myself as I have been really careful....
NWB have only taken out todays payment yesterday but with today's date on it and then put me as overdrawn. I had money to pay in anyway, which, had it not been a bank holiday, would have been in there yesterday. I go in today and pay the money in and then ask the girl why it was taken out yesterday but not due out until today. She got all stroppy and said it was my own fault for not having enough money in the account and yes I'd have to pay the charges!
Again, I repeat that today is the 26th and the payment was dated the 26th but was taken yesterday - today, first thing, the money (and more) was there to pay it. She replied 'But you used your card on the 22nd knowing full well that there wouldn't be enough in the account to pay the DD!' She then went on to inform me that 'This is what customers want' I say 'What? They want the banks to steal their money from them?' She says 'No, they want money credited the second it's paid in so we have to take it when it's due'.
I try explaining that it's NOT due until today and she says that it technically has to be in the account the day before (how you're supposed to manage when it's the day after a BH I don't know).
Next thing, my mate's hubby comes out of the managers office fuming. we get chatting and it transpires that he's just paid a lump sum into their account in cash and has been told that it will not be available for standing orders or DD's for 3 days!!!!!!!
Someone somewhere in Natwest is telling porkies and now they have two more extermely dissatisfied customers.
Remember the 25th August 2008 was a Bank Holiday, :rolleyes:0 -
My advice would be to switch banks, to be fair we had the same problems with HSBC. My husband used to be with Nasty Westy as a friend who works for Natwest calls them and he was raking up charges left right and centre for stupid things and when we went into branch to ask about it we got shoved from pillar to post and spoken to like we were dirt!! I am now ith RBS and have not got a bad word to say about them. If you are going to have a bounced DD or one is going to cause you to go OD they phone yhou and advise so you can cancel or arrange for money to go in - They are great0
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YorkshireBoy wrote: »It wasn't taken out. It was earmarked in readiness for sending today. .
In that case then, why did it show me as being overdrawn and why did the girl on thedesk inform me that I would have to pay as I was technically overdrawn for 2 days?YorkshireBoy wrote: »You were still earning interest on the money yesterday.I assume you mean 09:10? The problem here is that your DD left the account at 00:01 this morning...over 9 hours before you made your cash deposit.
No interest earned as it is a current account. And yes, I do mean 9.10! But within a 24 hour period the money was there ie: within the banking hours......Remember the 25th August 2008 was a Bank Holiday, :rolleyes:
Yeah, only realised that when I asked my DH to pay it in for me when he went into town on Monday.....:rolleyes:My advice would be to switch banks, to be fair we had the same problems with HSBC. My husband used to be with Nasty Westy as a friend who works for Natwest calls them and he was raking up charges left right and centre for stupid things and when we went into branch to ask about it we got shoved from pillar to post and spoken to like we were dirt!! I am now ith RBS and have not got a bad word to say about them. If you are going to have a bounced DD or one is going to cause you to go OD they phone yhou and advise so you can cancel or arrange for money to go in - They are great
Thanks for teh recommendation Calsey. Tbh, I am beginning to wonder if our grandparents had the right idea and stuffing in under the mattress would be best all round LOL
My Granny always told me to never trust banks - she used to call them 'thieving, lying swines' , bless her soul LMAO. So many things she used to tell me as a kid have come true in my lifetime - does help that she was clairvoyant mind hahahaha.
Thanks anyway, all. It helped just to vent my anger about the darned bank!0 -
YB, sorry to disagree with you but I do with regards to the explanation that at 00.01 the money went out of the account . Because it was a weekend and Bank Holiday, the money would have been set aside on the Saturday prior to it.
Brightness, I would have explained it better maybe as I did in the post. I do understand how you were charged and the way the banking system works. Remember online that morning entries are provisional and subject to confirmation.0 -
I don't have a NatWest account, but am I right in saying it would be set aside/earmarked (same thing?) following the Friday night/Saturday morning overnight processing run? If so, it would only affect the 'available balance' and not the 'balance' figure?natweststaffmember wrote: »YB, sorry to disagree with you but I do with regards to the explanation that at 00.01 the money went out of the account . Because it was a weekend and Bank Holiday, the money would have been set aside on the Saturday prior to it.
The 'balance' figure would then reduce (to match the 'available balance' figure) at 00:01 on Tuesday morning when the DD payment was made.
I appreciate some banks have another go at making the payment later in the day (to give the account holder time to deposit cleared funds during banking hours, ie internal transfer or cash deposit), but it doesn't sound like NatWest do this from what the OP has said?0 -
Bloody NatWest. They say that the funds have to be in your account the day before to honour any DDs or SOs. Personally I have a problem with that because I might need the money on the day before and be paying cash into the account on the day of the payment, but no, it has to be there the day before.
Have also had a disagreement with them today about some cash that was paid in. It won't 'clear' until tomorrow because it was on the same paying in slip as a cheque! What?!?!?! It's cash...there's nothing to 'clear'...cold hard cash!
I also paid my salary cheque in yesterday (Wednesday) as our computer system went down and we were unable to be paid by BACS for payday (Friday). Paid the cheque in before midday and was told funds wouldn't be available until Tuesday! Why? In the days before everything becoming computerised, it used to take 3 days (including that day you paid the cheque in) for the funds to be available. So, why is it taking longer? I now face bank charges because I have direct debits and standing orders coming out of ny account on Monday (1st).
Also, how can money be taken out of your account at 00.01 but only credited after 07.00?
ETA I've just found where it tells you that bit. Silly me, I didn't read through ALL the terms and conditions when I was in the bank 10 years ago opening the account!4.1.2 When cash is paid into your account together with any(b) available for withdrawal the next business day
cheque(s), the cash will be:
(a) credited to your account for interest purposes on the day
that the cheques are added to your balance; and
So, if you need to pay both into your account but need the cash striaght away, make them credit it on separate paying in slips!0
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