Natwest, Take money from my LTD account for personal arrears

andyrich666

Good afternoon,

Not posted here for a while but twice Natwest have took money from my LTD Company account to pay my personal mortgage arreas without any authorisation from me.

This has caused many problems because this money is the only money I have, also it is needed to pay wages, the time it happened I was living out of the UK and this would have left me in a country penniless, they took the whole lot, I would have had no money to return to UK no money to even but a tin of beans, they swiped the lot, the only way to get this money returned was to threaten suicide to this day I do not know if I would have carried that threat out.

I wish to complain about this, but I need to know if this is theft, because this was taken from a LTD Company account and not a personal account. Then if so how I would word the complaint.

Thanks to all, It took approximately a week on both occasions for them to return the monies.

PeacefulWaters

It's not theft, it's a mistake.

What did they say when you asked them to resolve it?

Have you considered sorting out your mortgage issues?

diamonds

A LTD company... it would take court order to force the money to move.


It is theft, the bank deprived the company of assets with no right to do so, of which all trained staff would know. Untrained staff made a liability towards Natwest. Lack of training is no 'mistake' defence for Natwest.


I would be getting some free legal advice or Citizens Advice to word a complaint.


Frankly go to a lawyer, pay out the business account and claim all your company expenses and compensation for theft of company money. Also ask for personal compensation for distress (maybe then pay it towards mortgage arrears).


Natwest will !!!! themselves and payout, they dont want publicity like that: their staff (even 1) are untrained in banking and following applicable regulations or legislations.


In the meanwhile I advise you start a thread on your mortgage situation and see how MSE can assist

andyrich666

PeacefulWaters wrote: »

It's not theft, it's a mistake.

What did they say when you asked them to resolve it?

Have you considered sorting out your mortgage issues?

It is not a mistake it was with intention, I have sold the property just waiting on exchange etc

andyrich666

diamonds wrote: »

A LTD company... it would take court order to force the money to move.


It is theft, the bank deprived the company of assets with no right to do so, of which all trained staff would know. Untrained staff made a liability towards Natwest. Lack of training is no 'mistake' defence for Natwest.


I would be getting some free legal advice or Citizens Advice to word a complaint.


Frankly go to a lawyer, pay out the business account and claim all your company expenses and compensation for theft of company money. Also ask for personal compensation for distress (maybe then pay it towards mortgage arrears).


Natwest will !!!! themselves and payout, they dont want publicity like that: their staff (even 1) are untrained in banking and following applicable regulations or legislations.

Thank you for the advice, I am driving so I will come back to this post later.

After this they froze my personal account (without funds) and then only this week HMRC wound up my company, I will contact the CAB as I know they can support via email, I know if I take money from my LTD company I know I can get in trouble for this so for them to do it I had a feeling it was theft.

diamonds

andyrich666 wrote: »

It is not a mistake it was with intention, I have sold the property just waiting on exchange etc

Thats great the arrears are paid then, one less thing for you to worry of, full speed ahead to a lawyer with your business cheque book. Speculate to accumulate as they say


If you can (mortgage arrears on credit file) take a original copy of the letter your lawyer sends to Natwest to another bank and open a business account, given the action taken and mortgage cleared most swnsible bank managers will open you personal and business accounts, why stay banking where incompetence exists to your detriment ?

jonesMUFCforever

Why did HMRC dissolve the company?

agrinnall

Just because one person agrees with you that it's theft doesn't mean that it is. I would complain and wait for NatWest to investigate before taking any action.

pathtofreedom

Just to check, the account for the ltd was it a "proper" business account? Rather than just a different retail current account in your name?

Thrugelmir

andyrich666 wrote: »

After this they froze my personal account (without funds) and then only this week HMRC wound up my company,

And you were out of the country? Would that have something to do with the course of action they took. I assume that you were in incommunicado when abroad. Sounds as if there is far more to this tale.

Money can be taken out of your business account to pay for personal debts if you have a business account and personal account with the same bank. This is called the right of set off.

jonesMUFCforever

I am also wondering if the OP had given a guarantee to the bank backed by a charge over OP's property (in addition to mortgage)for any lending?
Obviously if the mortgage went into arrears (badly) their security is weakened - so there may be a term/condition in the guarantee document allowing them to do what they did.

As well as private account closed, HMRC dissolving the company, and OP being out of the country I too think we have only got a small snippet of the true story.