Natwest Current Account Declined

RajGupta

Today I went to Natwest branch to open current account (Select Account). To my surprise, my application was declined. The branch officials didn't know what's the reason. They just handed me a decline letter. I have no pending debt with any bank and I fall into high income bracket.

Any ideas, what could be the reason of decline?

I applied for a credit card with Tesco last week, do you think it could be an issue? But opening a current account is not asking for any credit, so why to decline my application.

MrSilk

I opened up a NatWest account in March 2013, I have one CCJ and (then) 8 unsettled defaults. I was expecting to be declined but I was accepted.

I'm not sure if you could appeal, but they should tell you the reason.

Any CIFAS markers on your credit report maybe?, was your Tesco application accepted? - I very much doubt this would have contributed to the decline from NatWest though.

Did you ask for an overdraft at all upon your application?

RajGupta

Branch staff didn't ask me if I wanted to apply for overdraft, so I am not sure what he did. I think they should have asked me this.

MrSilk

When I applied, I did it online, I received a letter through the post asking me to attend my local branch with ID, they processed the application and told me my account number there and then. over the next week I received my card, pin and a HUGE information pack and card reader.

I was asked if I wanted an overdraft but I didn't want one, I do now though have a cheque book, which are provided depending on your credit score.

Did they ask for ID?

rb10

Why on earth do you want a Natwest account in the first place? For the 0% interest, and poor customer service?

pmduk

rb10 will always criticise Natwest, much as I always criticise santander.

Hominu

RajGupta wrote: »

I applied for a credit card with Tesco last week, do you think it could be an issue?

It's possible.

RajGupta wrote: »

But opening a current account is not asking for any credit, so why to decline my application.

On the contrary, a standard current account is a full credit check as its possible you can go overdrawn.

It could also be for profitability reasons - for example, most banks will measure you up to see if you would likely apply for a mortgage or loan in the future and whether or not they would accept such an application.