NatWest First Reserve Huge Changes

innovate

p2600 wrote: »

I have just set it up and will be transfering my virgin media bill over to this system when (if) they cancel the direct debit.

This system will not pay your bills. You still have to set up DDs with the company in question if you want to pay them by DD.

p2600 wrote: »

And regarding point 3). I'm going to leave all account as it is, they will have to cancel my outgoing rent payment and other bills.

You are running a high risk there that you will incur charges and/or have your services cut off for non-payment. It could also have a very detrimental effect on your credit files.

JuicyJesus

p2600 wrote: »

Personally, after the bank charges fiasco, I chose never to use a bank account again.

Faces and the spiting thereof come to mind.

dr_adidas01

p2600 wrote: »

Personally, after the bank charges fiasco, I chose never to use a bank account again.

I much prefer having my money in a system in which there is no mechanism at all for a charge to be made.

I can use my visa debit card until 2015, I guess pay all my bills with that. After then well. Perhaps using only cash and no visa will make me better off.

Ahem "helpful banking" Ahem...

I don't think you will be able to use your visa debit card until 2015, from what I've read there replacing them with cash cards in August of this year.

innovate

stclair wrote: »

I think the Bill Management Service sends the payment via DD also doesnt it?

I don't think it sends any payments whatsoever. It just shows you your bills, and how you pay them, for the companies supported by the service. It also gives you a quick link to at least some of the companies' "make a payment" website.

p2600

stclair wrote: »

I think the Bill Management Service sends the payment via DD also doesnt it?

I hope not.

First of all only a handful of companies are set up to use this service.

• Anglian Water
• Atlantic Electric and Gas
• Bournemouth & West Hampshire Water
• Bristol Water
• Colchester Borough Council
• Ecotricity
• Essex and Suffolk Water
• Northumberland County Council
• Northumbrian Water
• RSPB Energy
• Scottish Hydro Electric
• Southern Electric
• Sutton and East Surrey Water
• SWALEC
• Virgin Media
• Wessex Water

With a direct debit, the company takes the money from your account.

With the bill paying service, I pay the specific amount, manually. So it goes from me to the company, not the other way round.

Essentially its a bacs transfer controlled by the first reserve user. (I think)

stclair

p2600 wrote: »

Personally, after the bank charges fiasco, I chose never to use a bank account again.

I much prefer having my money in a system in which there is no mechanism at all for a charge to be made.

I can use my visa debit card until 2015, I guess pay all my bills with that. After then well. Perhaps using only cash and no visa will make me better off.

Ahem "helpful banking" Ahem...

Your card will be replaced during August/September 2013 with an ATM only card.

p2600

dr_adidas01 wrote: »

I don't think you will be able to use your visa debit card until 2015, from what I've read there replacing them with cash cards in August of this year.

My card is valid uintil 2015, its printed on the card.

The letter states, that from August they are issuing ATM cards, so someone who opens a new account, or loses their card will get an ATM card.

I plan not to lose my visa debit card.

stclair

innovate wrote: »

I don't think it sends any payments whatsoever. It just shows you your bills, and how you pay them, for the companies supported by the service. It also gives you a quick link to at least some of the companies' "make a payment" website.

Its not something ive ever been involved in as the service never really ever took off.

Sorry just skimmed it previously I must have mis-read it.

If I have a number of Direct Debits already set up, will I have to change them?

A. No. The NatWest bill management service complements Direct Debit by providing the ability to view and manage all of your bills and statements at one site. The service allows you to see your bill before you pay, giving you even greater convenience and control. Additional Direct Debits can also be conveniently set up using the service.

https://billmanagement.natwest.com/NatWest/include/GotAQuestion.html

JuicyJesus

p2600 wrote: »

My card is valid uintil 2015, its printed on the card.

They can replace it any time they want to and deactivate the old card.

I plan not to lose my visa debit card.

I plan to have Christina Hendricks come round my house and sit on my face but unfortunately "plans" and "reality" are often contradictory.

p2600

stclair wrote: »

Its not something ive ever been involved in as the service never really ever took off.

Sorry just skimmed it previously I must have mis-read it.

If I have a number of Direct Debits already set up, will I have to change them?

A. No. The NatWest bill management service complements Direct Debit by providing the ability to view and manage all of your bills and statements at one site. The service allows you to see your bill before you pay, giving you even greater convenience and control. Additional Direct Debits can also be conveniently set up using the service.

Ahh, shame. Oh well I'll set it up anyway, as an extra layer of crap for them to untangle when they come to remove my direct debits.

After then, I'll just pay online with my card. Until 2015 when it expires