Very annoyed with Natwest

MargaretBrazear

There is nothing that can be done, but I just wanted to rant a little. Last year I changed my bank from Lloyds to Natwest for the simple reason that my state pension, which Lloyds were keeping till Monday, was being paid the Saturday before with every other bank in the country. After some months, I have got used to having that money on Saturday, but this morning, with no notice whatsoever, I logged into my account to find a notice telling me that from today I wouldn't see this money until Monday. So, just the same as Lloyds.

I wouldn't have minded so much were it not done without warning. I was depending on my pension to eat and now I've had to borrow from my son. I wonder if they are allowed to do this without warning, but I suppose they will say it is a concession to make the money available on Saturday.

18cc

You could just check - it might be that the money is 'available' ie in your account on Saturday but that their computer systems are not showing it because everyone at the bank has gone home for the weekend!. This might mean that you can still take money out and all that will happen is that everything will show Monday morning. The bank or someone on here should be able to tell you for certain.

If you really want a better system, avoid the old banks they are really slow at processing. Try eg Starling or Monzo Bank where everything shows up immediately (mobile phone based). There may be others.

[Deleted User]

Correct - NatWest used to show money due into an account on Monday and make it available on a Saturday.

They're not obliged to do it though and can in fact make Mondays money available on Monday if thry wish.

Maybe you need to check your budget if you had to borrow money for 2 days to "eat".

stclair

They did advise people:

http://eml.natwest.com/?AWTSfRX0-HWwaOIk3Zd2rCdRmVwQNKU1A

However it may not have been communicated to the wider audience so it seems.

sheramber

Be aware, if Monday is a Bank Holiday it won't be available until the following day.

Several, if not all, banks are now doing this.

bengal-stripe

sheramber wrote: »

Be aware, if Monday is a Bank Holiday it won't be available until the following day.

I'm afraid, that's wrong!

If your payment is due on a bank holiday, it will be due on the last working day prior. The DWP will place the instruction for payment earlier to be with your bank before the due day. On the due day the payment will simultaneously be credited to your account as well as debited from the sender.

Basically all payments will go into your account on the day they are due. It is the sender who determines the due day, not the bank.

YorkshireBoy

MargaretBrazear wrote: »

Last year I changed my bank from Lloyds to Natwest for the simple reason that my state pension, which Lloyds were keeping till Monday, was being paid the Saturday before with every other bank in the country.

I'm afraid that isn't correct. (I have a current account with (almost) "every other bank in the country" )

debsy42

I'm with RBS who are part of the same group as Natwest and received a letter from them quite a while ago advising of this change about money not being available until the Monday instead of the Saturday. I'm lucky that it won't affect me too much but I bet a few people have been caught out with this.

Shakin_Steve

My son was due the latest instalment of his student loan on Monday and that appeared in his Barclays student account this morning. I think I read somewhere (unless I dreamt it) that all banks were stopping the money showing on a Saturday. But I could be wrong.....I often am.

buglawton

Don't worry, the money's being invested in hedge funds and derivatives over the weekend

Gallstones

You know whats also bad about this, Direct debits that were due to go out monday have actually gone out from my account today but does not show on the transaction page, you have to goto the direct debit page and it shows them leaving on the 15th. Natwest have really botched on this one.