Bank Account Closures

BohBohBaff

My son had a joint account with his girlfriend, and they had a joint mortgage. They split up, sold the house and when they agreed how the money should be shared, they clearly wrote a letter, advising the Nat West Bank how the money should be split, giving full details of their own private Bank Accounts. She had a Nat West Account and he has a Santander account. This was over a month ago. Despite him calling into the bank and they advised it would take 10 days to transfer etc. he found out that they had sent a cheque, made out to both of them, to his ex girlfriends address. The bank have now said it will take another 10 working days to sort out. Bank said sorry but if he wants to complain he has to write. What sort of compensation could he get seeing as though they have had a large amount of money for over a month when it should have been a simple transfer.

izools

what interest would he expect to have had recieved if he had the money within 3-5 days of the sale completing?

That plus £25 for the hassle seems reasonable.

Wywth

BohBohBaff wrote: »

My son had a joint account with his girlfriend, and they had a joint mortgage. They split up, sold the house and when they agreed how the money should be shared, they clearly wrote a letter, advising the Nat West Bank how the money should be split, giving full details of their own private Bank Accounts. She had a Nat West Account and he has a Santander account. This was over a month ago. Despite him calling into the bank and they advised it would take 10 days to transfer etc. he found out that they had sent a cheque, made out to both of them, to his ex girlfriends address. The bank have now said it will take another 10 working days to sort out. Bank said sorry but if he wants to complain he has to write. What sort of compensation could he get seeing as though they have had a large amount of money for over a month when it should have been a simple transfer.

Please name & shame the bank that says it takes 10 days to make a bank transfer.

With Faster Payments, the banks claim transfers usually take no longer than 2 hours ... and I've usually found it is almost instantaneous

BohBohBaff

Wywth wrote: »

Please name & shame the bank that says it takes 10 days to make a bank transfer.

With Faster Payments, the banks claim transfers usually take no longer than 2 hours ... and I've usually found it is almost instantaneous

Hi! Yes name and shame indeed - shame on NAT WEST BANK!! It is now almost a month since I first posted. My son has been putting in a complaint to Nat West on an almost weekly basis, and the response has been "sorry you have been unhappy with our service, etc. etc. but we are carrying out an investigation". I guess it is in their interest to take their time if they are holding back almost £44,000 belonging to an ex customer. Not sure where he can go next as he is constantly chasing them and they keep sending back letters saying they are looking into it!! :mad:

Wywth

BohBohBaff wrote: »

Hi! Yes name and shame indeed - shame on NAT WEST BANK!! It is now almost a month since I first posted. My son has been putting in a complaint to Nat West on an almost weekly basis, and the response has been "sorry you have been unhappy with our service, etc. etc. but we are carrying out an investigation". I guess it is in their interest to take their time if they are holding back almost £44,000 belonging to an ex customer. Not sure where he can go next as he is constantly chasing them and they keep sending back letters saying they are looking into it!! :mad:

Take a look at their own website

http://www.natwest.com/microsites/personal/faster_payments_service/default.asp