Natwest step account closing

auto-man

Bank of Scotland cardcash account are doing same. You can only take out of their/Halifax machines aren't they? I think I heard that mention somewhere.

cap102x

Hi

I've been following the posts on this thread with interest. I too received a letter informing me that I am changing from a Step account to a Basic Account with Natwest.

I have decided to upgrade to the Select Silver Natwest account as I would like the mobile phone insurance on my new Iphone 4. I have 2 questions...

Firstly, is the 'Select Silver' account really the same as their 'Select' account with just more benfits or is it infact their 'basic' account loaded with the silver added benefits?

Also, with regard to Natwest's AVU department - is there a timeframe involved? In other words how long before you can be sure the upgrade worked? I upgraded from my Step account online and I notice on the account details section of the internet banking, that my account is now indeed a 'Select Silver Account' just wondered how long after upgrading could AVU interfere?

Any advice would be gratefully received.

C x

jen245

I dont think AVU get involved in upgrades, I think its only new applications so you should be OK. The Select Silver for those with no credit facilities, is basically like your Step account, but with the added "benefits". As I understand it, you still wont be eligible for overdrafts etc, but you will be able to use all ATMs as you currently do

screamer

I really feel I must be missing something. At the risk of sounding like a complete numpty, I don't really know how anything is going to change, aside from the name of the account! I don't care that my bank account name is changing, I'll still have all the same access, the same debit card, the same online banking as I've had for years now, what REALLY is going to change? Reasonable question. And btw, why are people trying to upgrade now when the email that's been sent states that all changes will be done automatically, account details will remain the same and we'll only be upgraded to the basic account, not the silver (which you have to pay for). We are not being changed to a fee paying account, so why the fuss?? Like I said, I feel I must be missing something, simply because I don't care!

If people were automatically being upgraded to an account that they must pay for then I can see a big kerfuffle, but that really isn't what's happening. Please explain why I should be complaining or changing banks, I just don't get it!

cap102x

jen245 wrote: »

I dont think AVU get involved in upgrades, I think its only new applications so you should be OK. The Select Silver for those with no credit facilities, is basically like your Step account, but with the added "benefits". As I understand it, you still wont be eligible for overdrafts etc, but you will be able to use all ATMs as you currently do

Many thanks for the reply Jen - Thats great news for me as the 2 things I have been concerned with was the ATM access and utilising the insurance. However, I do think it is everso slightly dodgy if you're right. With my letter, I received a leaflet detailing each of the different accounts that the Bank offers. It clearly states that the 'Select Silver' is the 'Select' account with extra benefits.

cap102x

furthermore - I've just received a text message from Natwest informing me my new card is on its way - perhaps it is genuinely a Select account.

JamesinLeeds

screamer wrote: »

I really feel I must be missing something. At the risk of sounding like a complete numpty, I don't really know how anything is going to change, aside from the name of the account! I don't care that my bank account name is changing, I'll still have all the same access, the same debit card, the same online banking as I've had for years now, what REALLY is going to change? Reasonable question. And btw, why are people trying to upgrade now when the email that's been sent states that all changes will be done automatically, account details will remain the same and we'll only be upgraded to the basic account, not the silver (which you have to pay for). We are not being changed to a fee paying account, so why the fuss?? Like I said, I feel I must be missing something, simply because I don't care!

If people were automatically being upgraded to an account that they must pay for then I can see a big kerfuffle, but that really isn't what's happening. Please explain why I should be complaining or changing banks, I just don't get it!

Hello, the problem is the restricted number of ATM's that you can now withdraw cash from. If you travel within the UK a lot - or are in an area without them (rural etc) then you have restricted access to cash.

JamesinLeeds

jen245 wrote: »

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.

Slightly aggressive reply, which confuses me! I dont want to change banks, I have been with Natwest with those account details for a long time, and really dont want the hassle of changing forced upon me. If I want to change, I'd like it to be for my own reasons.
Also, the FOS are concerned, banks have a duty to deliver good customer service - and as these changes deliver nothing positive for the consumer at all it is in contravention of this. They have agreed to take up the case - which they dont do in all instances.

Lloyds may do this, and other banks may follow - however, my concern is with Natwests transition.

Hank_Marvin

cheers jen. What do this AVU mean as i see it's getting mentioned in this thread??

jen245

It is a Select Silver account by name, but as I understand (from other posters) is that there are a few variations of the account, mainly, one with credit facilities for those who qualify (overdrafts, offline debit card etc) and one without, for those who would normally only qualify for the Basic account (no overdrafts, full auth card), the latter basically being like the current Step account, but with the benefits.