Natwest Technical Issues

newfoundglory

pqrdef wrote: »

NatWest's lawyers will be earning their keep on this one, and they'll be under pressure from the other banks.

On the one hand, nobody will want to see compensation paid for consequential losses.

On the other hand, they'll be even keener that the courts don't get the chance to make any unfortunate rulings, e.g that "no liability for consequential losses" is an unfair contract term.

Wouldn't this depend on whether negligence could be demonstrated? I'm sure irresponsible outsourcing and offshoring, and then hiring recently sacked UK staff back on short term contracts, gives us little clue as to what is going on here :rotfl:

Oh, well - i'm frustrated that the heat has been taken off RBS and put onto Barclays...

The PR team must be celebrating.

rb10

newfoundglory wrote: »

Oh, well - i'm frustrated that the heat has been taken off RBS and put onto Barclays...

The PR team must be celebrating.

It's only temporary ... from the BBC News story about Barclays' fine ...

BBC_News wrote:

Other big names believed to be under investigation include Citigroup, JP Morgan, Deutsche Bank, HSBC and Royal Bank of Scotland.

RBS/Natwest could be next in line for this too.

epm-84

Mandelbrot wrote: »

Some of you will know that RBS occasionally issue commemorative banknotes.
Perhaps they ought to bring out a special £100 note and give one to each customer that they have mucked around over the past week.
The artwork could be depicting Stephen Hester in the guise of Roman Emperor Nero. (Fiddling away while Rome burned.)

In all seriousness why don't they add a credit to all RBS Group bank accounts for the inconvenience?

motherofstudents

I paid £500 rent deposit from a tenant to the DPS on Tuesday. It shows it has gone out of my account but still not received by DPS. Natwest online person I spoke to said she had no idea when it would be received by DPS and said 'fingers crossed it will be sorted out soon'. At least she didn't give me any false hope or try to say it will be resolved by xxxx. After all this has got back to normal, I'm not sure whether it will be best to change banks, which bank to move to, or whether to stay with NW in the hope that they have put something in place so it can't happen again. Actually don't have faith in any banks so under the mattress might be the better option.

SnowTiger

epm-84 wrote: »

In all seriousness why don't they add a credit to all RBS Group bank accounts for the inconvenience?

As a Natwest customer who holds four accounts with them I'd welcome this.

However, I haven't been inconvenienced by their recent problems. Not even slightly.

Techhead_2

epm-84 wrote: »

In all seriousness why don't they add a credit to all RBS Group bank accounts for the inconvenience?

Or all banks should start running their businesses with the retail customer at the forefront of their minds. Instead of shareholders, bonuses and investment banking.

For example, in the last year Natwest have made several changes to "unprofitable" accounts, which has given varying degrees of inconvenience to customers. All to save a few million pounds. And yet more than that has been lost in other ways.

In my opinion, the ongoing problems are another example of banks putting cost savings before customers and then paying the price in reduced profit.

So rather than a credit to the accounts, I think we need a sea change in the way banks are run.

Gra76

I appear to be entirely up-to-date now having just checked online.

It didn't inconvenience me much really, and as I'm not a money-grabbing-compensation-monkey I'll be quite happy to leave it at that. I'm quite willing to accept that mistakes happen and that it's now sorted as far as I'm concerned. :cool:

Debt_Free_Chick

SnowTiger wrote: »

As a Natwest customer who holds four accounts with them I'd welcome this.

However, I haven't been inconvenienced by their recent problems. Not even slightly.

I suspect this might be the easiest way. Simply credit every account with ...?? £50?

That would satisfy many people, I guess, leaving fewer claims to deal with, from those who believe they're owed more than £50.

As it stands at the moment, all 26m customers could submit an individual claim and I really can't see that lot being sorted out any time soon :eek:

d3xp2pc

As of today my account is still not correct. Payments made using cash and deposit machine still missing even though I was told Tuesday the payments would be re-processed overnight. BAC for wages previous Friday still not showing and various debits not appeared.

epm-84

Techhead wrote: »

For example, in the last year Natwest have made several changes to "unprofitable" accounts, which has given varying degrees of inconvenience to customers. All to save a few million pounds. And yet more than that has been lost in other ways.

RBS Group have had to reduce operating costs under the government's bail out conditions. Unfortunately, it looks like one of these reductions resulted in this very problem and has also added to the number of British people unemployed. So how is the tax payer benefiting if the spending is being diverted from one place (supporting RBS Group) to another (increased benefit costs for unemployed)?

I imagine if Santander did not give incentives for joining and staying with them that they would have a lot less customers considering they are consistently voted worst for customer service.

A statement off Stephen Hester relating to the problem will not attract new customers or stop old ones from leaving by itself, neither will fixing the problem in itself or compensating customers. However, a combination of these could.