Newbie here needing some help/advice, natwest bank

jules6810

I have received a letter today from my bank, Natwest, telling me that they are closing my 5 bank accounts within 60 days and that I need to find another account. I am absoultly fuming about this, I have tried to ring them but the closure line is shut (probably a good job, really as I need to calm down).
I have found a few bits of information suggesting why they might do this ranging from, suspicion of fraud, poor banking, ie over drawn etc.
I work 16 hours a week, so I have a regular income and am a single Mom so I receive tax credits, and help with my rent. I have had this account for 9 years, I have not got a over draft and have never gone over drawn. Why could this have happened to me and what can I do about it?
Whats made me the most angry is the fact they have also closed my 2 year old daughters, young savers account, disgusting. Please help/advice

Mortgage_Reduction_Novice

I would try to speak to someone in branch on Monday if you can.

You seem quite careful with money (never having gone overdrawn) so I'm sure you've checked your statements for any suspicious activity. If there is anything suspicious then it could be fraud but obviously not by you, by someone else.

Perhaps they are suspicious of your 5 different accounts... but one is your daughters right?

jules6810

Hi, thanks for the reply, one account is my daughters, 2 are current accounts and 2 are savings account. Savings accounts are used for christmas / holidays, dont have much in them but they are used regulary. One current account is used for bills, and the other my wages go into. The newst account is my daughters, which was opened about a year ago, the rest has been like this for years.
I am extremely careful with money, and I have never received a bank charge. I guess all I can do is wait till monday and phone them, but its worrying me silly :-(

alanq

NatWest did the same in this high profile case a few months ago including closing a baby's account.
In that case a CIFAS marker was put on the address as it had been used for fraudulent purposes (not by the account holder) . There are procedures NatWest should have followed instead of just seeing the marker and closing the accounts.

http://news.bbc.co.uk/1/shared/spl/hi/programmes/money_box/transcripts/money_box_19_nov_11.pdf
http://news.bbc.co.uk/1/shared/spl/hi/programmes/money_box/transcripts/money_box_26_nov_11.pdf

If you are suspected of fraud you won't be able to open an account elsewhere either. If no joy with NatWest then make a subject access request to CIFAS to find out if anything has been alleged.

Mortgage_Reduction_Novice

Thanks Alanq... it does sound like something similar here.

Have you checked those statements? No strange direct debits?

I know it is very worrying and frustrating not knowing the reason behind all this. I'm afraid you'll just have to sit tight until they open their phone lines or branches after the weekend. Fingers crossed for a speedy resolution.

jules6810

Oh dear, I am even more concerned now!!! I have just checked all my statements and everything is in order, but thanks for the replies, fortunatly, I have another account with a different bank, so in temper I have moved my money to that account for now. Everything I have read says that if its to do with fraud they will shut the account immediatly but I have been given 60 days notice.

meer53

jules6810 wrote: »

Oh dear, I am even more concerned now!!! I have just checked all my statements and everything is in order, but thanks for the replies, fortunatly, I have another account with a different bank, so in temper I have moved my money to that account for now. Everything I have read says that if its to do with fraud they will shut the account immediatly but I have been given 60 days notice.

If you've managed to move money out of your account, then it doesn't sound like it's fraud related. If it were, your accounts would be blocked. Can't think why they would do this though ? It could be a mistake on their part, hope you manage to get it sorted soon xx

jules6810

Thanks meer53, the account is in full working order at the moment the 60 days isnt up till end of March. I am hoping its a mistake, they did make a mistake a few months ago, sending me a letter telling me a direct debit had been declined due to insufficent funds, but the direct debit was paid and after a phone call to the bank it turned out they had made a mistake and apologised to me. I hope this is a mistake too, although, I am going to move my accounts after this anyway.

stclair

It sounds like an automated error to me and I totally agree with meer53.

If the bank thought it was fraud related they would have closed the account immediately.

Contact them on Monday and let us know the outcome if you have no joy follow the banks complaint procedure.

alanq

jules6810,

Are you financially linked to anyone who may have been naughty?

Have you had cause to complain recently? Is it possible that a member of staff took exception to any forthright views that you may have expressed about their abilities? I seem to recall a case where action was taken based solely on a staff member's version of events.

One also reads of some GPs who simply remove complainers from there lists rather than deal with the cause of their complaints.

It does sound hopeful that the accounts have not been frozen.

"If consumers are unhappy with the decision taken, they may complain to the specific firm concerned, and if they are unhappy with the outcome, they can take their complaint to the Financial Ombudsman Service. I reiterate the point that if a financial institution, or more specifically a bank, has been in breach of the FSA principle of treating customers fairly, the individual customer can raise that with the bank and with the Financial Ombudsman Service. If the explanation that is given to a customer is wrong—for example, if there is misleading information about how CIFAS works and its impacts—without wanting to be drawn too much into specific cases, it seems there is a case that the customer is not being treated fairly."

However
"...decisions as to whether to offer a bank account are a commercial matter for the financial institution concerned,..."

http://www.theyworkforyou.com/whall/?id=2011-11-15a.241.0

jules6810

Hi Alanq, thanks for the reply. I dont think I am linked to anyone, naughty, lol. I was recently in my local branch and they told me that I could up grade my account and receive benefits for a small monthly fee. I declined and said I was perfectly happy with my account as it was, I was not rude or anything and that ended the conversation, do you think this may have something to do with it? x