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Natwest step account changes

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  • I have a couple of accounts with Natwest and I have just received a letter stating that my step account will be changed to the basic account and I will not be able to use my card in any machine that is not an RBS.

    I have called them and they will upgrade your account to the select (without an overdraft!) if you state that this is not viable for your circumstances
  • Hats of to Natwest. Just applied for the select account as I have a step account and success! Account number and sort code sorted. Very impressed!!!!
    It takes two to tango!:rotfl:
  • chambta
    chambta Posts: 2,770 Forumite
    Part of the Furniture Combo Breaker
    I have a couple of accounts with Natwest and I have just received a letter stating that my step account will be changed to the basic account and I will not be able to use my card in any machine that is not an RBS.

    I have called them and they will upgrade your account to the select (without an overdraft!) if you state that this is not viable for your circumstances

    It's not an upgrade of the existing account though, it's a credit scored application for a new one which not everyone will pass.
  • I had that letter too, means I will now close my account...
    Loving the sunny days!
  • tagq2
    tagq2 Posts: 382 Forumite
    edited 19 September 2011 pm30 9:03PM
    chambta wrote: »
    It's not an upgrade of the existing account though, it's a credit scored application for a new one which not everyone will pass.

    AFAICT it's more than a credit scoring which made someone eligible for more than a Step. I had a Card Plus opened around 15 years ago, converted to Current Plus and used according to terms. More recently for sharing some finances I tried to open another account with another family member with no known credit issues. The only new information they wanted was our incomes, which at the time weren't huge but together were non-negligible. Only Step was offered.

    I guess, then, that those who already have one Select account and/or who don't cross some income threshold will continue only to be offered Basic. Or maybe people with a history of unprofitability with the bank will be refused, so those who have been with the bank for longer are less likely to get upgrades: although I've had a Natwest credit card since 1999 which I use quite a lot, I leave very little in my current account. There are better places to actually store money, so stuff's paid in and moved elsewhere.

    Perhaps banks will eventually routinely offer the alternatives of minimum balance or reasonable account maintenance fee rather than half a dozen uninteresting perks for £8+/month. Or maybe they'll make more money in the long run by helping their least well-off customers to become more wealthy rather than by decreasing their options :p.
  • jalexa
    jalexa Posts: 3,448 Forumite
    Finefoot wrote: »
    I had that letter too, means I will now close my account...

    Why not just keep the account for your existing banking with Natwest/RBS's excellent online banking and good range of Group ATMs, including ATMs at Tesco and large stations. The *only* thing you are losing is Link access.

    IMO the writing is on the wall for basic account Link access. If either Link or access to a particular bank's ATM is important there are ways to solve that problem that doesn't require you to close what is actually a very good "basic" bank account.
  • All I can say is Bye Bye Nat West, and i shall be taking all my pennies with me!

    I got my letter today and quite frankly, to say i'm not impressed is an understatment, what they are now offering me is useless for my needs, even though i have always been happy with natwest.

    I never visit my branch, my banking is done online, and all my cash is withdrawn from a Barclays cash machine as my OH has all his accounts with them, and i do all his business banking for him.

    So i shall be off to Mr Barclays for a new account, and will also be closing my other 4 saving accounts i have with them after being wth them for 7 years, Well that is unless they can offer me a better soloution, as they still can't give me answers for why i have problems logging onto the online banking, and keep getting a system checking screen and can't get into my account apparantly its a normal screen and my account should load after it has finished checking. well its been doing it for 6 weeks now and still keep getting told the same when i call and it's also driving me insane.

    So all the more reason to go to Barclays i feel.
  • You can get around this without having to open a new Basic Account elsewhere.
    When it comes to Basic Bank accounts with the following you can get around the 'Bank Only ATM' issue by opening the following Savings account which comes with a Cash Card/Debit Card for use at any other ATM's - You can transfer any money required via Telephone banking or Internet Banking.

    Lloyds TSB - Open the 'Easy Saver' Account which comes with a Cashpoint Card on request:
    http://www.lloydstsb.com/easysaver

    RBS - Open the 'Instant Access Savings Account' which comes with a Visa Debit Card:
    http://www.rbs.co.uk/personal/saving...s-account.ashx

    NatWest - Open the 'First Reserve' Account which comes with a Visa Debit Card:
    http://www.natwest.com/personal/savi...t-reserve.ashx

    Don't forget, you could also use another provider of your choice if they allow you to have a ATM/Debit Card with the account as Lloyds TSB/RBS & NatWest all allow Faster Payments now meaning the money will be available to use in a matter of moments to withdraw (Max 2 hours).

    Also, don't forget that most Supermarkets/Shops also offer you the ability to obtain Cashback without having to visit a Cash Machine in the first place.

    Hope this helps people out a little! :T
    David :)
    £1 of debt is too much for me!
  • Just read this thread with interest - I am an existing step account holder and recently everytime I have anything to do with Natwest they have tried to upgrade my account - I recently agreed and they did a credit score and said it was successful and they would send out the paperwork for my new account.
    When it came it was for the Silver account which I didn't want - I was led to believe the upgrade was for the free version which allows cheque book/overdraft etc.
    The silver is fairly good value but only if you use any of the add ons I have a company mobile phone so don't care about insurance for it, the breakdown cover excludes cars over 10yrs old (mine will be 10yrs next year) and I can't afford to go on holiday so Im not bothered about travel insurance.

    Needless to say I didn't sign and return the paperwork so I am still on the step account - I haven't had any letters from Natwest saying about changes but shall be leaving them if I do.

    I thought the recent interest in upgrades was a sales push to make money, I didn't know they were planning these changes :(
  • jalexa
    jalexa Posts: 3,448 Forumite
    edited 20 September 2011 pm30 1:25PM
    Dydie wrote: »
    When it came it was for the Silver account which I didn't want - I was led to believe the upgrade was for the free version which allows cheque book/overdraft etc...

    Interesting....yet another report of a "sharp-practice upgrade" to Select Silver.

    There is an "explanation" but not an excuse. There is an "upgrade" route to Select Silver but not to (fee-free) Select.

    If you want Select you need to "apply". You might as well, you have nothing to lose. I strongly advise that (at this stage) you do not request either an overdraft or a chequebook. As an existing customer you can do the application logged-on online. Some posters reported have successful applications.

    Please keep the thread updated with the outcome.
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