Natwest step account closing

theposhbint

I had this worry also about being moved to a basic bank account and not being accepted, but I've been on web chat today (twice actually to make sure) and was told both times that as its a migrated account there are no credit checks to go through and all step account holders will get a basic bank account automatically, regardless of credit history.. phew

davethorp

Letters came through today for each account me and my partner hold. Applied for select account offered basic or select silver. Have applied for a first reserve to work around in the mean time but may look at moving our banking as natwest have been annoying me for a while and this is just another nail in the coffin

BabbaBlue1

First time post! I have had THE letter advising of bank account changing from Step to Basic. What I want to know is will I still be allowed to keep my Visa Debit card or. Will they change it to a Solo or Electron card. I sincerely hope they don't!

jen245

It's still Visa debit, its just that the ATM use is restricted to group ATMs

auto-man

Anyone know, the new cards, is the classic account debit card a normal one or a full authorisation one that won't work at telco petrol.

Thank for help people's.

Hank_Marvin

Can anyone tell me if you are credit searched for a select account without overdraft when you allready have the step account.

stclair

BabbaBlue1 wrote: »

First time post! I have had THE letter advising of bank account changing from Step to Basic. What I want to know is will I still be allowed to keep my Visa Debit card or. Will they change it to a Solo or Electron card. I sincerely hope they don't!

The card can be seen here:

http://www.natwest.com/downloads/global_options/docs/NatWest-Basic-Account-Visa-Debit-Card-Guide.pdf

jen245

Hank_Marvin wrote: »

Can anyone tell me if you are credit searched for a select account without overdraft when you allready have the step account.

Yep, you will be credit searched as to go for a Select account, you'll have to apply for a new account. Seems they are only offering upgrades for the Select Silver, or to changeover to the Basic account

JamesinLeeds

LTRFTW!

I have received the same letter from Natwest (and didnt read it properly!). It wasnt until I called the bank this morning that I realised the implications of changing to a "basic" account.

I have been a Natwest Step Account customer for 11 years - and had numerous causes for complaint. Regardless, I have shown loyalty and not moved from them.

This is clearly profiteering from Natwest's most vulnerable customers and the insistence of either paying £8.00 a month for unnecessary insurance or opening a new account is a complete joke.

They had other options when making this decision - they could have closed their basic account and transferred all the customers onto the Step account. Their insistence on doing things the other way demonstrates their motivations. There is absolutely no customer focus in this decision whatsoever. This is about cost cutting within a pool of "less profitable" customers and the sale of additional product.

I raised the complaint with Natwest and they have filed it under a "no further action" catagory. I have then complained to the FOS who will raise it with Natwest on my behalf. In my honest opinion, each and every customer affected by this should complain - due to the fact that you are forced either to a) move accounts b) pay £8.00 a month c) accept a reduced ATM network. There are no options here that benefit us as customers.

The telephone number for the Financial Ombudsman is 0300 123 9 123 but you should raise it directly with Natwest before going down this route. They were very understanding and on the face of it agreed that this was sharp practice.

Good luck,

James

jen245

They never offered the Basic account before, the Step account was their basic account, and as they dont offer it anymore, all Step customers are being changed to the new account. If you are not happy, switch banks. The FOS wont be interested, its up to the bank which accounts they want to offer their customers. Lloyds TSB have been doing it for ages on their basic account, and I have a feeling other banks may follow.