Nat West waste of money - OR DOES IT ONLY HAPPEN TO ME?

starsign47

Early this year I opened an e-saver but to access funds had to open another account in order to withraw money. EVERY time I visited the local branch the computer system failed/on a go slow etc etc. So I closed the accounts two weeks ago.... since which time I have received 5 notifications of current interest rates for the accounts AND 5 statements for the same accounts showing 1p credit - ALL sent in separate envelopes. AND FINALLY I received a CHEQUE for 1p yesterday!!!! Shall I frame it or go to Nat West to open an account - decisions decisions. :eek:

madgagoo

Failed closure - the account was closed on the computer system but there was still a balance (£0.01!) which, as you had no other accounts, the computer didn't know what to do with. This remained until a person with some common sense arranged a cheque.

I don't know why but in this situation a daily statement is generated, which is why you received 5! I agree, a horrendous waste of money. Tbh there's probably some old regulation that requires a daily statement in this situation!!

preable

Deposit it asap beofore you lose 1p

JuicyJesus

madgagoo wrote: »

I don't know why but in this situation a daily statement is generated, which is why you received 5! I agree, a horrendous waste of money. Tbh there's probably some old regulation that requires a daily statement in this situation!!

Nope, probably just RBS/NatWest's horrendously outdated and clunky systems.

The_Corrupt_Banker

Make sure you get a 2.7% net return on it to protect against inflation.