Help!!! Natwest closing my account

benog1985

Hi guys,

Some of you may remember I posted a thread about 5 weeks ago as my accounts with Natwest had been stopped, I had no access to them for almost 4 weeks. I now have full access to my accounts, can withdraw my money etc etc but I have just received a letter from them advising that my accounts are going to be closed in 60 days and I have no idea what to do now !! Some of the content of the letter is details below:


"We, the Natwest Bank plc, have recently undertaken a review of the banking arrangements that you have with us. We have, with regret, reached the conclusion that we will no longer provide these facilities for you.

Consequently, you will need to make alternative banking arrangements within 60 days of the date of this letter (21st March). These arrangements must be outside of The Royal Bank of Scotland Group plc.....

Unfortunately, we will not be able to provide any references for you."

It goes on to say that I need to withdraw any monies in my accounts and as well as returning debit cards etc etc before finishing with:

"We assure you that we have only reached this decision after careful consideration, however our decision is final and we are not prepared to enter into any discussion in relation to it."


Now what do I do?? I need a bank account for wages and DD's to be paid. I was advised in my previous to post to open a new account whilst all of this was going on and tried at Barclays & Nationwide who said no. I do have some bad credit from a few years back but Barclays wouldn't even give me a cash account although they did open a new business account for my company the week before.

Any ideas on what to do next please.

DCFC79

Where else did you try to open a new account ?

Or where did you not try before ?

benog1985

DCFC79 wrote: »

Where else did you try to open a new account ?

Or where did you not try before ?

I tried with Barclays (who our company bank account is with) and also Nationwide.

It's got me worried again now as I need a bank account.

DCFC79

benog1985 wrote: »

I tried with Barclays (who our company bank account is with) and also Nationwide.

It's got me worried again now as I need a bank account.

I cant remember the other thread but did NW say no ?

Got HSBC or Santander you could try ?

benog1985

DCFC79 wrote: »

I cant remember the other thread but did NW say no ?

Got HSBC or Santander you could try ?

Yeah Nationwide said no. I could try HSBC and Santander I suppose, just wondering why Natwest have closed my account now as they won't tell me.

Is there any way I can find out ?

MrSilk

Have you checked your credit report? Maybe a CIFAS marker?

DCFC79

benog1985 wrote: »

Yeah Nationwide said no. I could try HSBC and Santander I suppose, just wondering why Natwest have closed my account now as they won't tell me.

Is there any way I can find out ?

The bank is entitled to close your account as they wish, not sure if they have to tell you why though but maybe someone else can answer that.

HSBC and Santander are the only 2 banks I can currently think of that aren't part of the rbs/NatWest group (could be wrong but as nw closed the account would rbs open an account for you )

agrinnall

DCFC79 wrote: »

The bank is entitled to close your account as they wish, not sure if they have to tell you why though but maybe someone else can answer that.

HSBC and Santander are the only 2 banks I can currently think of that aren't part of the rbs/NatWest group (could be wrong but as new closed the account would rbs open an account for you )

They don't need to tell you why they are closing your account, and in fact they almost certainly won't. In some cases it would be illegal for them to tell you anything, although it seems unlikely in this instance.

The only mainstream banks that are part of RBSG are RBS, Natwest and Ulster Bank, so you are free to try any of the others. There's a list here, although there are also Building Societies you could consider.

http://en.wikipedia.org/wiki/List_of_banks_in_the_United_Kingdom

angelsmomma

You need to check your credit reports before you apply to anyone else. As MRSilk said check for a CIFAS marker

DCFC79

agrinnall wrote: »

They don't need to tell you why they are closing your account, and in fact they almost certainly won't. In some cases it would be illegal for them to tell you anything, although it seems unlikely in this instance.

The only mainstream banks that are part of RBSG are RBS, Natwest and Ulster Bank, so you are free to try any of the others. There's a list here, although there are also Building Societies you could consider.

http://en.wikipedia.org/wiki/List_of_banks_in_the_United_Kingdom

Didnt think they would tell the OP wasnt 100% sure.

benog1985

Hi guys,

Thanks for your replies.

I have checked Equifax and Experian and there are zero entries on the CIFAS area. I have just been into the bank to see the manager and he has advised to try a Co-Op account so I'll give that a try. I do have some previous credit issues so don't want a current account just a cash account. It's so annoying, I have DD's to pay and need my salary paid into an account.

Would there be any other entries anywhere else that would prevent me getting an account? I've not committed fraud nor laundered any money and guess if the bank had thought I had they wouldn't have released my accounts back to me to use.