NAtWest Loan

redishpink

Hi I am hoping someone can help me.

I have a personal Loan with NatWest, I recently tranferred all my direct debt etc over to a new bank account I have opened, as I have been unhappy with the service, i've been receiving from NatWest. I have been a NatWest customer for over 20 years.

I have been informed my NatWest today that they will only accept repayments to my loan via a NatWest account and they will not accept payment from another bank account.

Has anyone else experienced this and is this correct? Are they aload to do this?

Bunnie1982

Oh no I hope that's not the case!

I am in a similar situation to you, unhappy with Natwests service so want to move banks but I also have a Natwest loan.

I would have thought that as long as you paid the loan back to them, it shouldn't really matter where the money is coming from

grumbler

What is the problem with keeping the Natwest account as a second one and making payments from this account? All you need is just a Standing Order on the new account to transfer the monthly payment to the Natwest account at least 3 working days before the due date...

lotto-dreamer

Posted by Reddish Pink

I have been informed by NatWest today that they will only accept repayments to my loan via a NatWest account and they will not accept payment from another bank account.

Posted by Bunnie1982

I am in a similar situation to you, unhappy with Natwest's service so want to move banks but I also have a Natwest loan.

Ah, welcome to the club! -I have been thinking of changing accounts too (10 years with NW). I have now just looked at my loan agreement (tiny print, flimsy bit of paper) but clause 14 does say "If required by the Bank the Customer will open and maintain a Current Acount with the Bank... etc"

Glad you pointed this out.

redishpink

Thanks for your replies. I have just contacted NatWest requesting that my loan repayment date be changed. As I have to set up a standing order in my new account in order to pay my loan. BUt they informed me that in order to do so I wld have to make an additional payment (i.e. 2 payments in one month). I can't beleive this, you try to get yourself out of debt and the banks are just bringing you down.

lotto-dreamer wrote:

Posted by Reddish Pink


Posted by Bunnie1982


Ah, welcome to the club! -I have been thinking of changing accounts too (10 years with NW). I have now just looked at my loan agreement (tiny print, flimsy bit of paper) but clause 14 does say "If required by the Bank the Customer will open and maintain a Current Acount with the Bank... etc"

Glad you pointed this out.