We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Natwest - closed account
Adammd
Posts: 5 Forumite
Hi all,
I would like to ask for your opinion. I had a business account with Natwest for 3 years. In January 2018 I recieved a letter to inform me that my account has been closed. I tried to withdraw money but was told account is under investigation. My personal accounts in Natwest , RBS and Ulsterbank were closed as well at the same time(same RBS group)
I called them many times to ask when I can trasfer funds to other my bank account but heard the same answer- once investigation is over.
Now I have just recieved a letter that funds are available to trasfer out and I can go to the branch to collect them. There is no explanation what was the reason of investigation, why so long etc, only stated they are unable to provide me any specific details...
This 5 months of waiting was very unconfortable. As I konw I was not doing any illegal activities or fraud it was only matter of time to release the money. But there is some finantial loss- e.g. I had to pay corporation tax or company expenses from my personal savings etc.
My question is wheter I should ask finatial ombudsman for any assistance? Is there any chance to be compensated for 5 months unable to access to my money? Or I should forget it as it would be waste of time and effort..
Any thoughts very appreciated...thx
I would like to ask for your opinion. I had a business account with Natwest for 3 years. In January 2018 I recieved a letter to inform me that my account has been closed. I tried to withdraw money but was told account is under investigation. My personal accounts in Natwest , RBS and Ulsterbank were closed as well at the same time(same RBS group)
I called them many times to ask when I can trasfer funds to other my bank account but heard the same answer- once investigation is over.
Now I have just recieved a letter that funds are available to trasfer out and I can go to the branch to collect them. There is no explanation what was the reason of investigation, why so long etc, only stated they are unable to provide me any specific details...
This 5 months of waiting was very unconfortable. As I konw I was not doing any illegal activities or fraud it was only matter of time to release the money. But there is some finantial loss- e.g. I had to pay corporation tax or company expenses from my personal savings etc.
My question is wheter I should ask finatial ombudsman for any assistance? Is there any chance to be compensated for 5 months unable to access to my money? Or I should forget it as it would be waste of time and effort..
Any thoughts very appreciated...thx
0
Comments
-
You won't get compensation.0
-
So should I be happy that Natwest lock money ''only'' for 5 months? What about 5 years then. Can they afford everything? They should have had big concern of source of money or what. I am a contractor and got paid by only one well established agency...
BTW it was 40k+ fortunatelly.
But my point is not that small interest I lost but the reason of investigation. I don't want to imagine if I had there like hundred thousands or so. It can liquidate a company.0 -
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.1K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.2K Work, Benefits & Business
- 600.8K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards