Bank With Natwest? They May Convert You To A Basic Account

Cobalt77

I recently took the plunge and went BR.

Following advice here, I set up a Co-op Cashminder account a few months ago in anticipation of this. I also had a "normal" current account with Natwest (no overdraft, good conduct on account and I didn't owe them anything)

When I went through my SoA with the Examiner, she immediately confirmed she had no interested in the Cashminder. She then stated she would grab the balance in the Natwest current account (a whopping £2), and that Natwest would automatically close the account. Which is exactly what I was expecting to happen.....

However..... a week or so after the OR's letter to Natwest, I received several letters from them. The first referred to the OR's letter and told me to destroy my chequebook, account cards and not to use the current account. Fair enough.

The second one was more interesting. In essence, it said that Natwest wanted to convert my "old" current account into a basic bank account, and were contacting the OR to confirm they had no objection to this.

A few days later, I received a new Natwest debit card in the post and still have access to Natwest's brilliant online banking (my account is clearly marked as a basic one on statements and online)

I'm not sure whether I was just lucky, or maybe Natwest is being a little more lenient? So, if you bank with them, it may be worth asking your local branch to see whether they can do this for you too.

HTH

debtorwithaquestion

Me too!

I did a DRO in August and he a select account with natwest with a contactless card and a cheque book. No overdraft, Or any bad history with natwest.

As they weren't a creditor in my DRO the official receiver didn't write to them so they must now trawl the insolvency register.

A week after my DRO was approved I got a letter saying my account was being downgraded to a basic account. No cheque book, overdraft (which I didn't have anyway) or contactless card.

I think it's a great sign of equality and fairness to not be denying people the right to a basic bank account regardless of their financial position.

However, as I work and live in London a contactless is really useful to me and RBS offered me one post- DRO so I'm definitely sticking with them!
:T

jason909

I have x2 accounts with Natwest both are basic bank accounts and they are a creditor from many years a go.

Both the accounts are still active and working fine by all methods such as mobile/internet banking, haven't heard anything from them whatsoever and it's been a few months now.