Extra deferment - money taken out!!

duchy

Surely the sensible thing would be to go into Nat West tomorrow with the loan agreement so it's clear where the money came from ?

stclair

duchy wrote: »

Surely the sensible thing would be to go into Nat West tomorrow with the loan agreement so it's clear where the money came from ?

Seems the sensible thing to do doesn't it?

grumbler

No. IMO, the sensible thing is for the bank to contact the customer if they took the money from the account without a permission and need some extra information or explanation.

dalesrider

grumbler wrote: »

No. IMO, the sensible thing is for the bank to contact the customer if they took the money from the account without a permission and need some extra information or explanation.

Which they may well have done.

All depends on how much contact information the OP has with the bank and how upto date any telephone numbers are.

TBH. By far the best way to to telephone the bank and ASK.

ellzman

The bank hasnt contacted me.

On the day the loan came into my account, i contacted natwest and asked for my balance, they said it was, for example £200...

I then decided to go in the branch and get a statement of that account as well as taking money out of my other account...

I then see 10,000 paid in, then 10,000 withdrawal on the same day.

I didnt query it there and then, i went home and called natwest. Tgey told me to go into the branch, which is what i will be doing tomorrow.

They also cancelled my cards and said my accounts will be closing in 14 days when i called up that is.

I asked why this is, they couldnt tell me but they said i can still receive and withdraw funds from any of my bank accounts.

I did not know that applying for a loan would lead to your bank accounts closing down and the bank taking the money out and "holding it"

grumbler

Complain to Natwest and demand explanation+compensation:

7.1.1 We can close your account immediately if:
(a) we reasonably suspect that you have given us false information;
(b) we reasonably suspect that your account is being used for an illegal purpose;
(c) you behave in a threatening or violent manner towards our staff; or
(d) you were not entitled to open your account.
7.1.2 We can also close your account by giving you not less than 60 days’ notice before we close your account.

Then complain to FOS. At least their arrogance will cost them (Natwest).
Then vote with your feet (if you can).

innovate

ellzman wrote: »

They also cancelled my cards and said my accounts will be closing in 14 days when i called up that is.

I asked why this is, they couldnt tell me but they said i can still receive and withdraw funds from any of my bank accounts.

I did not know that applying for a loan would lead to your bank accounts closing down and the bank taking the money out and "holding it"

A bank wouldn't close your accounts if you apply for a loan/get the loan paid into your account. They will have other reasons, which may or may not be valid.

stclair

What have I missed weve gone from missing money to an account closure?

As others have said take you loan agreement with you etc to the branch.

It sounds like an AML process which has gone wrong.

I would also recommend whilst your in branh you start the complaints process to get an understanding of what the issue is.

innovate

stclair wrote: »

It sounds like an AML process which has gone wrong.

Or a thread in which we have only partial information.

ellzman

What is an AML issue?

What type/form of complaint should I raise if there is a 'particular' one?

The branch staff would not be able to sort this there and then it would be head office who would have the powers to return the funds?