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NatWest - Problem With Maturing Fixed Rate Account
alanq
Posts: 4,216 Forumite
I have a fixed rate account that was due to mature on 29/11/2012. Checking online today (30/11/2012) I saw that the maturing balance had not been transferred to my current account. I asked in branch and was told that there were known problems and the funds will be there tomorrow with one extra day's interest.
What if customers needed that money to pay for something today? What if the account they had planned to transfer the money to is not available on Monday? At the very least by having the maturity pushed into the weekend they could be losing 3 days' interest not just 1.
I don't know if the problem extends beyond maturing fixed rate accounts. Yet more compensation claims will be heading to a bank that can ill afford them. After the big foul up I had hoped that it would get its act together.
What if customers needed that money to pay for something today? What if the account they had planned to transfer the money to is not available on Monday? At the very least by having the maturity pushed into the weekend they could be losing 3 days' interest not just 1.
I don't know if the problem extends beyond maturing fixed rate accounts. Yet more compensation claims will be heading to a bank that can ill afford them. After the big foul up I had hoped that it would get its act together.
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