Help!!! Natwest closing my account

goaroundnow

I honestly do not know anything about Co-op etc.

See what CIFAS says when you get it.

I don't think (definitely not sure) that there is a way to put a temporary CIFAS marker on whilst an account is reviewed.

Have you applied to anyone else for anything, i.e. loan, credit cards etc in the last few months, either before or during this whole saga? If you have, were you totally honest.

Please also remember, I could be totally wrong about CIFAS. I just don't think that Natwest will close an account due to defaults etc.

benog1985

No, I've not applied for anything at all, haven't for a few years as there's no point with the defaults on my account. Plus I've never needed any form of finance or credit accounts.

I'll just have to wait and see what comes up. If nothing on CIFAS then i'll just have to assume NatWest weren't happy with how I was using my account and though they'd get rid!

innovate

benog1985 wrote: »

No, I've not applied for anything at all, haven't for a few years as there's no point with the defaults on my account.

If you have concluded that you wouldn't get a new account because of your defaults, then why are you so surprised that NatWest don't want to keep your custom?

benog1985

To be fair, I was surprised when thy gave me an account because if my credit file but free having an account with them for 4 years, never been overdrawn, never had DD's bounce, I am surprised theyve closed my account!

Dr_Cuckoo3

benog1985 wrote: »

I'll try the Co-Op cash minder

Ding Ding - round 2

https://forums.moneysavingexpert.com/discussion/2755346

BobQ

rblakemore84 wrote: »

I have had a lovely letter off NatWest today saying they are reducing my overdraft by £300 on 9th May. Upon speaking to them, I was told it was because I'm earning enough money to pay it back! I have never gone overdrawn, or badly managed the account in the 7 years I have had it. I am completely confused by their actions. I wanted to pay my overdraft off anyway, but £300 in one month?

You should start a new thread to discuss this.

Trying to live within your means is something you should try to do. Living on an overdraft is a bad policy.

BobQ

goaroundnow wrote: »

Was it you that was using Natwest for Paypal/Ebay transactions?

An aside.... can you explain why ebay/paypal would be a problem for anyone? Do banks not like people using ebay?

jonesMUFCforever

BobQ wrote: »

An aside.... can you explain why ebay/paypal would be a problem for anyone? Do banks not like people using ebay?

If it was the old thread I am thinking of it was because there was a lot of ebay/paypal transactions going through as in running a business through a personal account.

goaroundnow

jonesMUFCforever wrote: »

If it was the old thread I am thinking of it was because there was a lot of ebay/paypal transactions going through as in running a business through a personal account.

This is why I was asking.

I think if there is too much activity centred around Paypal the account could be considered business not personal.

Agricolae

My understanding of CIFAS markers was that they were there to alert to impersonation fraud and application fraud (whether first party or other), or where someone sold on goods subject to a hire purchase agreement. I don't recall all the numbers unfortunately.

I'm not sure if the OP did raise a formal complaint with NatWest however it may be worth it. The bank will not change its decision and if you refer it to FOS then they will back them up on this as it's a commercial decision. However FOS may look at whether they've gone about it in the right way.

Bit more info here: http://www.financial-ombudsman.org.uk/publications/ombudsman-news/48/banking-closing-accounts.htm