Natwest Technical Issues

Melontwist

epm-84 wrote: »

Up to 5 days is the norm these days. It used to be up to 3 days but apparently with less cheques being used they don't process them as frequently.

All cheques are processed the same and sent away every might and done.

jfh7gwa

Melon, do you work for the banking group concerned?

5 posts, all on the IT failure thread. Apologies if you're a genuine user, but want to be transparent here.

cottager

Melontwist wrote: »

The funds aren't clear. They are able to be drawn upon but are still liable to bounce if this was a possibility, which is why although tempting you should not draw against funds Neil the 7th working day

I've always found it only too easy to say "cleared" when I really mean "available". On MSE I always try to be careful not to use "cleared" when talking about the first few days after paying in cheques, and say "added to the available balance" instead. Yes, with the 2-4-6 cheque clearing system in place since 2007, you cannot rely on funds being definitely and fully cleared until working Day 6 (the day of banking them being working Day 0). The explanation of the same system says those funds cannot be drawn upon until working Day 4, but they can still be reversed until working Day 6.

However banks do appear to have some discretion here. In our case, at NatWest, with cheques paid into the business a/c on working Day 0, the amount is added to our available balance on working Day 2 and thus we can also draw on those funds from working Day 2 -- if it wasn't "available" I assume we couldn't do that. It's been like that for as long as I can remember, which is many years. Therefore if I pay cheques in on a Thursday, the funds are "available" by Monday and we can use the funds from then; if on a Friday, then from Tuesday; and so on.

lexilondon21

My natwest account is still not fixed even though they state they have fixed "90%" I must be in the 10% x

happy_with_my_lot!!

lexilondon21 wrote: »

My natwest account is still not fixed even though they state they have fixed "90%" I must be in the 10% x

Aw Lexi - I know exactly how you feel and do sympathise! You should come and join us on the Northern Ireland thread Ulster Bank/RBS problems thread - you can be an honorary member - we feel your pain!

premiere

Logged into my business account this morning and made some transactions no problem.

Tried to login to my personal account and it wouldn't take my details. Tried again thinking it was a typo and it still said details incorrect and then prompted for further security questions. It then said wrong! and a message came up stating online access to both personal and business accounts has been locked and that I would receive a new activation code in the post in a few days.

I called Natwest and they said online and telephone banking are currently blocked and would not undo it. I must wait to the activation code so can't pay any bills online or use my card online until issue is fixed.

I know that I used the correct details too..................

paul_h

Melontwist wrote: »

Secondly, the clearing cycle for checks is 7 working days. It shows up on your account on day 2 and earns interest if applicable on day 3. On day 5 you may draw against the funds, it isn't however clear until day 7. If between 5 and 7 you draw on one funds and the cheque was to bounce you could possibly go over your limit or be out of pocket.

I can see that, technically the funds are 'available' , rather than 'cleared'. Fortunately, in the case of the cheque in question, there is little chance that the cheque will bounce as it originated from an independent settlement account, so the cheque is not issued until the funds are transferred.

That said, rather than day 5, I was able to draw on the funds on day 2, the day after it appeared on the account... so as cottager says, banks must be able to exercise some discretion. I'm not sure that the situation is the same with cheques from external banks.

happy_with_my_lot!!

jfh7gwa wrote: »

Melon, do you work for the banking group concerned?

5 posts, all on the IT failure thread. Apologies if you're a genuine user, but want to be transparent here.

If you do, would you take a quick look at the Ulster/RBS problems thread on the Northern Ireland board - because the "work" that has been processed is most certainly NOT being run through the system in DATE order or anything close! Can you enlighten us some more, please?

jimmyay

I am SO FURIOUS with Natwest, i am closing my account with them after this after being a long standing customer of 20 years.

I paid in £7000 from my business account to my current account on morning of 25 June . 10 working days later there is NO trace of it in my account - aparrently they can "see it" on "their system" but it's not in my account and not available to draw on.

Despite PROMISES every day since last Friday that it would be in the NEXT working day AND that i would be called back about my complaint, i have had NO calls back from them , i have had to chase every day only to be given the "tomorrow,tomorrow" excuses and STILL am no further near knowing when my cheque will clear.

I am beyond disgusted with their treatment of me . I am an advantage gold account holder which seems to count for nothing . They have not called me back as promised - I feel like crying as i run around trying to move my cash around other accounts whilst avoiding Natwest - i dare not pay a cheque into them for fear it doesnt clear.

The acount is closing as soon as the cash is paid in. Appalling.

Edit ; Dont believe the nonsense about it all being sorted. It clearly isnt and the posters on this forum are surely the tip of the Iceberg.

spike7451

jimmyay wrote: »

I am SO FURIOUS with Natwest, i am closing my account with them after this after being a long standing customer of 20 years.

I paid in £7000 from my business account to my current account on morning of 25 June . 10 working days later there is NO trace of it in my account - aparrently they can "see it" on "their system" but it's not in my account and not available to draw on.

Despite PROMISES every day since last Friday that it would be in the NEXT working day AND that i would be called back about my complaint, i have had NO calls back from them , i have had to chase every day only to be given the "tomorrow,tomorrow" excuses and STILL am no further near knowing when my cheque will clear.

I am beyond disgusted with their treatment of me . I am an advantage gold account holder which seems to count for nothing . They have not called me back as promised - I feel like crying as i run around trying to move my cash around other accounts whilst avoiding Natwest - i dare not pay a cheque into them for fear it doesnt clear.

The acount is closing as soon as the cash is paid in. Appalling.

Edit ; Dont believe the nonsense about it all being sorted. It clearly isnt and the posters on this forum are surely the tip of the Iceberg.

Something has been bugging me over this,all this money like jimmyay's seven grand is sitting in limbo between his accounts & I suppose the are thousands of others in the same boat.
So are the Natworst/RBS/Ulster earning interest on the money as it's not able to be withdrawn or sent to a recipiant?..

I've also decided to leave & have opened a Barclays account,not going to have an account with an NI bank ever again.