natwst - topic closed

shaunbaird

Ive closed this topic.

noh

shaunbaird wrote: »

Hi,
Weve been with Natwest for about 7 years.
We were about to write a cheque, and rang the bank to ask how long it was before the funds were taken - we were told 3 working days.
We didnt have the funds right away but were expecting them 1-2 days later, so writing the cheque seemed fine, as we thought we had 3 days.

Turned out the company we wrote a cheque to banked at the same branch. They banked it the day we gave it hem and the next day Natwest debited our account for £256.

Then 30 days alter we got a letter from Narwesr telling us we had been charged £6 every day since that cheque took us overdrawn.

WHY 30 DAYS????
In this day an age you would think they would ring you to inform you (or at least write within a few days) to let you know you are paying £6 a day.

Because of going over, we ended up having to divert the original funds we were expecting, to pay another bill.

Anyway, we wrote a letter (3-4 weeks ago) and went in to the bank, asking to close the account because we were so angrythat we had been misinformed on the 3 days to clear rule.

The man said he would look into it and call us back.

He never did, and we continued to get charged.
They say we now owe almost £700 and wont budge.

All this because THEIR guys told us it would be ok. Their guys messed up our account in my opinion.

Ive got another 3 or 4 grievances with them about this but Ill save them fr another day

Has anyone else been stung with this and did they do anything to get out of it?

I also hav a Natwest business account and theyve told me if I dont set up an arrangement with them for the £700 they will close my business account.

Sure feels like !!!!!! Turpin stuck me up!!

I appreciate we owe the original cheque and I would e pepard to repay some fees, but why do they leave it a month to tell you that youve just incurred 30 days at £6 a day?

Really anoyed with them.

Shaun

Makes little sense to me.
If the funds you were expecting were paid into the account you would have been overdrawn for 3 or 4 days only and have a maximum of £24 charges.
Why did they not go into the account as expected?

If you knew the funds were not paid in what did you expect to happen?

catflea

To be honest I'd be very worried that it took you a whole month to notice that you were overdrawn! And like the other poster I'm confused as to how it could have been more than a few days o/d when you were expecting the funds anyway...

BTW, if you are £700 over your agreed o/d (and with debt managment by the sounds of it) then your internal rating with NW will be shot and you may as well take your banking elsewhere.

Natwest produce summarys of charges on a monthly basis, so seems you were unlucky on the timing front but you really should have noticed.

bengal-stripe

shaunbaird wrote: »

.....rang the bank to ask how long it was before the funds were taken - we were told 3 working days.
We didnt have the funds right away but were expecting them 1-2 days later, so writing the cheque seemed fine, as we thought we had 3 days.

Turned out the company we wrote a cheque to banked at the same branch. They banked it the day we gave it hem and the next day Natwest debited our account for £256.

If the cheque had taken three days, there still would have been no money in your account, as the expected funds did not come through.

You know what they say about counting and chicken?.......the same applies to money.

Twister84

Firstly, if you're going to use cheques, the number one rule is to always have funds in your account.

Secondly, the money would have been taken from your account after the company paid it in - for which they have 6 months to do so. So they could have paid it in next day, week, or month. The root cause has nothing to do with them banking with Natwest, apart from that it only cleared quicker. (Come around September time house cheques will go through the normal 7 day clearing cycle.)

I would speak to the manager of your branch to see if they can do anything regarding the charges due to misinformation.


With regards to notification of charges - there are numerous options to find out your balance - are you saying that you didn't check your account even once :undecided? You have the options of ATM, Direct Banking, 24/7, Mobile banking, text alerts, online banking, branch.

catflea

shaunbaird wrote: »

Ive closed this topic.

Another one that doesn't like honesty then?

noh

catflea wrote: »

Another one that doesn't like honesty then?

For the sake of completeness I've now included his original post as a quote in my reply above.

catflea

noh wrote: »

For the sake of completeness I've now included his original post as a quote in my reply above.

I'm interested how you managed that...

noh

catflea wrote: »

I'm interested how you managed that...

I googled this phrase from his original post

"Turned out the company we wrote a cheque to banked at the same branch"

The first two results are this forum as it is now and what looks like another forum somewhere that consists of posts copied from here. That has got his original post on it.