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How long does a bank remember bad debt?
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I would hope that I wasn't excluded from NatWest banking services for life. I think that would be both unfair and irrational.
I've got eight current accounts including two donor accounts. One donor account was for HSBC switch incentive and the other was for NatWest's offer. I don't have a need for Basic Account...I work within the voluntary sector, supporting vulnerable people to rebuild their lives.
I love my job0 -
If your account was with the Debt Management Unit, you will not be permitted to have any further accounts with Natwest Personal or Business. This is their policy and applies indefinitely.0
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Bazzyb do you have facts to back up such a statement as it will apply indefinitely?0
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Your credit files will contain closed accounts going back ages and ages. Whether a bank uses the old information or not is entirely up to them. It's also up to them whether they exclude anyone for life. They must, however, provide almost everybody with a basic account if the applicant does not qualify for a 'normal' account (EU legislation). https://www.moneyadviceservice.org.uk/en/articles/basic-bank-accounts
So not just for six years since an account was closed?0 -
Willing2Learn wrote: »I would hope that I wasn't excluded from NatWest banking services for life. I think that would be both unfair and irrational.
I've got eight current accounts including two donor accounts. One donor account was for HSBC switch incentive and the other was for NatWest's offer. I don't have a need for Basic Account...
It might be unfair and irrational but it's the rules set by NatWest.
Have you tried the suggestion in reply #6.0 -
NewToTheUkAgain wrote: »Bazzyb do you have facts to back up such a statement as it will apply indefinitely?
Yes I do. If you contact Natwest I'm sure they will be able to confirm this also.0 -
It might be unfair and irrational but it's the rules set by NatWest.Have you tried the suggestion in reply #6.NewToTheUkAgain wrote: »Have you tried putting your details in without a switch, to see how far the application gets too?If your account was with the Debt Management Unit, you will not be permitted to have any further accounts with Natwest Personal or Business. This is their policy and applies indefinitely.I work within the voluntary sector, supporting vulnerable people to rebuild their lives.
I love my job0 -
Willing2Learn wrote: »I would hope that I wasn't excluded from NatWest banking services for life. I think that would be both unfair and irrational.Willing2Learn wrote: »I'm just not sure if I am satisfied that a blanket policy would be fair...johnsmith1890 wrote: »So not just for six years since an account was closed?0
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Fair enough. I am not arguing against a banks right to reject any customer if it business policy or criteria.
Anyhow, they (NatWest) have emailed me sayingWe noticed that you recently started to apply for a Select Account, but it looks like you didn't finish your application. If you are unsure how to answer some of the questions, we're here to help.
Request a free call back at a time that suits you. We'll help you open an account over the phone.I work within the voluntary sector, supporting vulnerable people to rebuild their lives.
I love my job0 -
Hi Colsten, sorry, I should have clarified. I was thinking of this point:
Your credit files will contain closed accounts going back ages and ages.
I thought they only held records for six years - from account closure?0
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