Newbie here needing some help/advice, natwest bank

alanq

Maybe you are running your accounts too well never going overdrawn and you have declined a fee-paying account. Perhaps they have decided that as they are not going to make any money from you as a customer they are happy to lose you to a rival.

However, they were happy to open a Select account (no monthly fee paying account offered or wanted) for my aged mother last week and she has little income apart from her state pension.

You say that your savings accounts "dont have much in them but they are used regulary." Again they may have decided that it is costing them more to operate these accounts than they are making from you.

alanq

"I received the account closing letter from Natwest today. It was really shocking as i am having this account since 10 years with all the facilities . last month in my bank visit they were offering me loans and advantage gold account . Most frustrating is they cant say why they sent me closer notice as considering this as a commercial decision."
http://www.consumeractiongroup.co.uk/forum/showthread.php?151388-Natwest-Closing-Accounts

Similar pattern. Offered an upgrade then sent packing.

jules6810

I am pretty disgusted if they have closed my account due to running it to well, but from what I am reading its looking more and more likely that because they cant make money from me they dont want me as a customer any longer. I am going to ring them tomorrow and if I cant get an answer from them I will be writing to my local newspaper, sounds good doesnt it "single Mom left without bank account from Natwest as she refused to up grade her account, also closing a 2 year old childs account". think it would make front page lol xx

alanq

Don't forget that RBS's boss Stephen Hester's bonus is very much in the news and that RBS owns NatWest. So any headline is sure to mention a fat cat's bonus!

Seriously, BBC Radio 4's Moneybox programme previously dealt with accounts closed owing to allegations of fraud but they may well be interested in well-run accounts closed to increase profits. Submit as story idea.
http://news.bbc.co.uk/1/hi/programmes/moneybox/891726.stm

lolavix

jules6810 wrote: »

I am pretty disgusted if they have closed my account due to running it to well, but from what I am reading its looking more and more likely that because they cant make money from me they dont want me as a customer any longer. I am going to ring them tomorrow and if I cant get an answer from them I will be writing to my local newspaper, sounds good doesnt it "single Mom left without bank account from Natwest as she refused to up grade her account, also closing a 2 year old childs account". think it would make front page lol xx

They would not close your account for running it well, it's nothing to do with making money from a certain account...they make no money from me! It's normally that they suspect a fraud or something....you're best calling them as it could even be an admin error.


As for stephen Hester's bonus......no comment.....maybe he should start rewarding his staff a bit more

alanq

Hearing of jules6810's decision to tell the world of her shabby treatment by NatWest, Hester does the decent thing.

http://www.bbc.co.uk/news/uk-16783571

jules6810

Well I have phoned them and all they are telling me is its a commercial decession, whats a commercial decession?? I am not going away quietly, I am currently just moving the last of my direct debits to another account and then I will start complaing rather loudly, and I am starting with my local paper, and facebook.

p00hsticks

jules6810 wrote: »

whats a commercial decession??

I cam only guess that a "commercial decision" means that they aren't making any money off you (either by having a lot of savings with them, paying bank charges or having one of those monthly fee accounts) so have decided that it is no longer financially beneficial for them to have you as a customer ?

alanq

Sadly, this is a circumstance where the usual protest action of taking your business elsewhere is exactly what the bank wants you to do.

Despite what you have been told I think that it may be a good idea to get £2 statutory reports from the credit reference agencies to see if there is any erroneous data or links to others. Also perhaps make a £10 Subject Access Request to the bank to find out exactly what data the bank holds on you. (Searching the web however comes up with some complaints that NatWest has not given complete responses to SARs so you may need to get a well drafted letter to ensure that they are left with no wriggle room)

As suspected fraud does not SEEM to be suspected a CIFAS check MAY not be required.

stclair

jules6810 wrote: »

Well I have phoned them and all they are telling me is its a commercial decession, whats a commercial decession?? I am not going away quietly, I am currently just moving the last of my direct debits to another account and then I will start complaing rather loudly, and I am starting with my local paper, and facebook.

Raise a concern if you get no joy in 8 weeks take it to the FOS

http://www.natwest.com/Downloads/global_options/complaints_leaflet.pdf

Have you checked your Experian & Equifax credit reports recently?