New RBS account closed

ryan92

I got a brand new RBS select account last week and was given a £1'250 overdraft. I went to cash in a cheque today and the card was retained. Went to the counter and was told they could see there was some 'restriction' on the account but they couldn't fathom exactly what was wrong.

Anyway, I contacted the live chat when I got home to be told the account was passed to 'collections department' and to wait on the letter. I was given a number to phone and the lady confirmed they had made a business decision and the account was closed with immediate effect. This advisor also stated a marker would be put on my credit file?

I have absolutely no idea why this would be the case more so why a marker would be left on my credit report ; I've my car finance, CC's and a Halifax loan all paid for in time every month paying over the minimum.

Can anyone share anything else and if something similar has happened too?

Ed-1

ryan92 wrote: »

I got a brand new RBS select account last week and was given a £1'250 overdraft. I went to cash in a cheque today and the card was retained. Went to the counter and was told they could see there was some 'restriction' on the account but they couldn't fathom exactly what was wrong.

Anyway, I contacted the live chat when I got home to be told the account was passed to 'collections department' and to wait on the letter. I was given a number to phone and the lady confirmed they had made a business decision and the account was closed with immediate effect. This advisor also stated a marker would be put on my credit file?

I have absolutely no idea why this would be the case more so why a marker would be left on my credit report ; I've my car finance, CC's and a Halifax loan all paid for in time every month paying over the minimum.

Can anyone share anything else and if something similar has happened too?

I'd start by checking your credit files. Did you use the overdraft?

ryan92

Ed-1 wrote: »

I'd start by checking your credit files. Did you use the overdraft?

The point had remained untouched since it was opened last week ; putting the cheque in today would have been the first account activity.

Ed-1

ryan92 wrote: »

The point had remained untouched since it was opened last week ; putting the cheque in today would have been the first account activity.

The fact they're mentioning collections makes no sense at all. It's more likely the account was reviewed by the closure unit, "CMO Edinburgh", rather than collections. See this thread:

http://www.consumeractiongroup.co.uk/forum/showthread.php?175041-Natwest-closed-accounts-with-no-explanation!

agrinnall

The only reason I could see why it might go to collections is if you have previously had a debt with RBS and it's never been fully paid off. But Ed's explanation is probably the right one.

kimplus8

It makes no sense unless as stated above you have a previous unpaid debt with RBS, they can't leave a marker on your credit file for not using an account for a week and closing it, what 'credit' would they be reporting to the CA if you hadn't even touched it??

ceredigion

kimplus8 wrote: »

It makes no sense unless as stated above you have a previous unpaid debt with RBS, they can't leave a marker on your credit file for not using an account for a week and closing it, what 'credit' would they be reporting to the CA if you hadn't even touched it??

A CIFAS marker wouldn't need a transaction to trigger it.

Ed-1

ceredigion wrote: »

A CIFAS marker wouldn't need a transaction to trigger it.

I'd expect if there was a CIFAS marker present at the time the application was made, the application wouldn't have gone through. It may be the case that it's the application that's been declined at a later stage rather than the account being reviewed and closed after approval.

chambta

Unfortunately there's something about you or the application they don't like. It could even be inconsistencies between info on there and the CRAs. They'll be even more vigilant if the account was opened online too.