NatWest First Reserve Huge Changes

p2600

opinions4u wrote: »

The OP needs to open an alternative account - even if it's just in readiness.

Not true. Worst case scenario is I have to pay for bills in cash, at the post office. And buy my groceries with cash from the ATM.

__________________________________________________
To First Reserve Users
__________________________________________________

Do not worry that your account is of no use any more, its still one of the best accounts on the market because there is no mechanism to fine you.

You don't need to open another account.

Your standing orders are good until September 18th. And even then, they may require manual removal on your part. We will wait and see if the bank can cancel them automatically.

Your Visa Debit card will work until it expires, Don't lose it!

___________________________________________________

p2600

stclair wrote: »

As stated prior direct debits and standing orders was allowed to be set up on the accounts in error some time ago, so the bank allowed them to remain. However now they are making changes to the account they will from a certain point cancel them, as in the letter which has been going out since March it advises you should make alternative arrangements.

However if your sensible enough you should be able to open an account with any other lender without incurring charges if you can run the account correctly.

This thread was opened on the basis that we all understand some NatWest customers have Visa Debit and Standing Orders.

We know this because those customers received letters asking them to remove the standing orders, and that after expiry their cards would be replaced by ATM cards.

The reasons behind why it happened is irrelevant at this point. The fact is there are customers out there, with these facilities set up that need to be aware of whats happening.

If they wish to maintain the use of the account after September there are strategies that can be discussed to enable this.

Such as, don't lost your Visa Debit card, its still valid until its expiry.

And.. you don't have to consent to the first letter, REQUESTING you remove your standing orders, this is a REQUEST and can be ignored.

Or how to pay for bills in alternative ways.

pmduk

There is nothing stopping the banks from replacing cards earlier the upon expiry. Similarly nothing to stop a bank choosing to enforce a previously unenforced term ie the one stating No Direct Debits.

Surely the fact that no other bank offers a product with these facilities indicates that it's an anomaly begging to be closed?

opinions4u

p2600 wrote: »

Not true. Worst case scenario is I have to pay for bills in cash, at the post office. And buy my groceries with cash from the ATM.

__________________________________________________
To First Reserve Users
__________________________________________________

Do not worry that your account is of no use any more, its still one of the best accounts on the market because there is no mechanism to fine you.

You don't need to open another account.

Your standing orders are good until September 18th. And even then, they may require manual removal on your part. We will wait and see if the bank can cancel them automatically.

Your Visa Debit card will work until it expires, Don't lose it!

___________________________________________________

Do you really believe that you have thousands of First Reserve account holders hanging on every word you type?

p2600

opinions4u wrote: »

Do you really believe that you have thousands of First Reserve account holders hanging on every word you type?

This sort of bank action affects all of us, you, me, everyone out there!

If you simply lie down and let an organisation walk all over you, then we'll be left with no liberties.

Why fight against ourselves when the corporations are laughing?

I'm not going to allow these changes to go through without a fight.

opinions4u

p2600 wrote: »

This sort of bank action affects all of us, you, me, everyone out there!

I tend to move on to something better when a bank does something I don't like.

If you simply lie down and let an organisation walk all over you, then we'll be left with no liberties.

The free market may not be perfect. But financial services is a remarkably competitive industry where numerous organisations offer better products than the one you currently have (in my view).

Why fight against ourselves when the corporations are laughing?

I can understand why they would laugh at this thread.

I'm not going to allow these changes to go through without a fight.

Fight away. They can do what they're doing. It's legal. It's actually what you signed up for - 2 months' notice and they can change it.

p2600

Heng_Leng wrote: »

The closest that I can see to your requirements is a Natwest Select Account with Overdraft Control.

It would give you a Visa Debit card and Direct Debit functionality but would decline any card or Direct Debit that would put you overdrawn without charge.

Thanks for the tip, perhaps this account will be the next best fit.

p2600

opinions4u wrote: »

I tend to move on to something better when a bank does something I don't like.

The free market may not be perfect. But financial services is a remarkably competitive industry where numerous organisations offer better products than the one you currently have (in my view).

I can understand why they would laugh at this thread. (stclair isn't laughing, she's got her knickers in a twist.)

Fight away. They can do what they're doing. It's legal. It's actually what you signed up for - 2 months' notice and they can change it.

:T

You sound more like a banker pr stunt than a community member willing to stand up for their rights.

So disappointed by my introduction to this forum, I expected it to be a hotbed of revolution, but I've had more responses from bank employees.

opinions4u

p2600 wrote: »

You sound more like a banker pr stunt than a community member willing to stand up for their rights.

What rights? They have the right to change an account. You have the right to go elsewhere.

So disappointed by my introduction to this forum, I expected it to be a hotbed of revolution, but I've had more responses from bank employees.

Strangely, on an open forum, you get all sorts. Some are even ex-bankers.

dr_adidas01

p2600 wrote: »

:T

You sound more like a banker pr stunt than a community member willing to stand up for their rights.

So disappointed by my introduction to this forum, I expected it to be a hotbed of revolution, but I've had more responses from bank employees.

Opinions4U does actually stand up for there rights and quite frequently gives very sound advice. They also don't take any crap from organisations and vote with there feet!!

Why did you expect this forum to be a hotbed of revolution? Its a forum to help people out with problems and questions regarding Banking problems.

Not a forum to incite revolution, if you want to start a revolution then you need to get out onto the streets and get people to join your cause, not sit in front of a computer.

If you continue to use your Natwest First Reserve in a way that breaches the terms and conditions, you may find as has happened to many people who have posted on this forum Natwest will just close the account.

Then you will have find somewhere else to do you banking very quickly!!!

You need to accept you can no longer use the account in the way you have been and that they are going to replace your card sooner rather than later whether you like it or not.

I don't see why you can't open a normal account and use it in the way most of us do and don't get any charges or fees!!! After all you say you run your Natwest First Reserve account without bouncing direct debit and incurring any fees, or is this not correct??