NatWest closes business bank account without warning

lolavix

I've not known the bank to ever give such short notice to close an account. Have you spoken to your business manager/team to try and resolve the issue?

meer53

lolavix wrote: »

I've not known the bank to ever give such short notice to close an account. Have you spoken to your business manager/team to try and resolve the issue?

The OP says they only speak to them once a year so i would take it thats a no !

pqrdef

Nothing to do with your business. They just want to shrink their loan book. Overdrafts which they can call in at short notice are part of their liquidity planning. More lucrative than holding gilts or BoE deposits.

Of course it's part of their thinking here that you'll be able to pay off the overdraft and won't just go bankrupt on them. For bad loans the policy is forbearance not foreclosure.