My Natwest account is closed

Expert1_2

Natwest is refusing to give more details as to why it was closed but I only came to know after it was closed. I am pretty sure it was because I changed my primary address to an overseas one. The bank manager did not warn me of this.

Anyways, what is done is done. I frequently visit the UK (I travel a lot accross many countries. I do not have a UK passport). And as of now no UK bank account. Now I am left with 2 questions.

1) I had around 4000GBP in the Natwest account. How do I get it back? The best case scenario is that the money is transfered to another UK bank under my name. How long do I have before they 'confiscate' my money? Remember I have no other UK accounts.
b) If that is not possible, will Natwest give me cash? Will the give me a cheque to deposit into a parent's account? Sending the money to a foreign account means significant exchange rate losses since I intend to use the money in the UK.

2) Can I get a new account with another bank? I make no money in the UK. (Most of) My money comes from a family business in another country. My ID will be my passport and proof of address will be statements from my closed current account and the credit card that came with it. I am currently overseas with a very tight schedule and I can only be in the UK for 3 working days within the 3 months that the bank statements will remain 'current.'

I was approved for a Nationwide flex account but apparently they don't accept bank statements as proof of residence. The best account for me that doesn't require me to be in the UK at the moment and where documents can be sent via post. I have a US account and I could try to have a couple of statements posted to my London address. This is what I hate about going paperless. That will be a hassle.

I am also wondering if I really need a bank account. 95% of my use is retail and online shopping within the UK. I deposit cash when I visit. Prepaid debit cards look like a good option but there are certain things I might not be able to do: such as rent a car? Or book a hotel? Will I need proof of address for those?

chanz4

whole setup would flag ML to me

PenguinJim

I'm not a big fan of Paypal, but it looks like it might be an option for you.

agrinnall

The only way to get definitive answers to question 1 is to ask them, and I'm not sure why you haven't done that. If you had another UK account I expect they would have transferred the money there, but as you don't it'll be more difficult. The most likely alternative is that they'll issue a cheque in your name, and it would be down to you to work out a way of getting the money for that cheque, but they might be prepared to issue a cheque in another name if you try hard enough and speak nicely to them. The chances of getting cash are low I would have thought.

maninthestreet

This is a personal bank account, not business?

Expert1_2

maninthestreet wrote: »

This is a personal bank account, not business?

Yes it's a personal account which I had held for 8+ years. Most of my transactions have been depositing cash into my account (1000-1500 a year) and spending on the high street. I'm pretty sure they suspect ML and my country is particularly notorious. Sadly, they affect the honest ones and there is nothing we can do.

As for PayPal, I already have an account but how will Bank Tranfer work? I spoke to Natwest and they said they might be able to offer cash. I am confident that I will be able to recover my money but I don't know if I will be able to open another account. I don't know even if I need one but maybe the grapes are sour.

I have spoken to HSBC and they said they should be able to open an account for me at the branch. I don't want to visit the UK just to be told I am out of luck!

All I want is to be able to have a debit/credit/cash card where I can deposit some money and spend upto 2000 a month on the high street and online. Natwest did it for free. Any other options? I don't like carrying cash because it's difficult to keep record and I hate coins.

maas

Even if you managed to open another account I dont think it would stay open very long with just frequent deposits from a "particularly notorious" ML country for you to just withdraw on the high street?

The ML computer would be screaming every day.

BTW how do you deposit 1000-1500 a year and spend 2000 a month?

Expert1_2

maas wrote: »

Even if you managed to open another account I dont think it would stay open very long with just frequent deposits from a "particularly notorious" ML country for you to just withdraw on the high street?

The ML computer would be screaming every day.

BTW how do you deposit 1000-1500 a year and spend 2000 a month?

All my deposits have been made in cash at the same branch where I have my account using my debit card.

I deposit 1500-2000+- when I am in the UK and spend the money. I want to be able to spend 2000 on any given month(s) of the year.

You have already flagged me as a ML and I really don't want to keep answering your suspicions.

Natwest is making it very difficult to get a bank statement and since I went paperless, what does this mean?

'Remember you can also download, save and print a PDF of your statement from within Online Banking and the new design means it could be used for proof of your identity, address or income.'

So will the online statement be enough or do I need something posted to me?