How long does a bank remember bad debt?

Willing2Learn

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...

bazzyb

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.

NewToTheUkAgain

Bazzyb do you have facts to back up such a statement as it will apply indefinitely?

[Deleted User]

colsten wrote: »

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?

DCFC79

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.

bazzyb

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.

Willing2Learn

DCFC79 wrote: »

It might be unfair and irrational but it's the rules set by NatWest.

I'm just not sure if I am satisfied that a blanket policy would be fair...

DCFC79 wrote: »

Have you tried the suggestion in reply #6.

What this:

NewToTheUkAgain wrote: »

Have you tried putting your details in without a switch, to see how far the application gets too?

I never got to the point where you could enter switch details. I only got as far as entering my full name, full address, dob and contact details.

bazzyb wrote: »

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 do hope that is not true. Do you/have you worked for NatWest

colsten

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.

You might consider it unfair and irrational but their policy is their decision. They are running a business and can decide whether they want your custom. As has been mentioned, they have chosen to exclude people who have been with their DMU. Were you one of those people?

Willing2Learn wrote: »

I'm just not sure if I am satisfied that a blanket policy would be fair...

It's not a question of your satisfaction. You'd have a very hard time convincing anyone that you need another current account if you already have 8. It might be really annoying that you cannot bag the Natwest joining offer but this doesn't mean that they are treating you unfairly in any way.

johnsmith1890 wrote: »

So not just for six years since an account was closed?

As I said, it's up to the bank. The 6 years apply to Statute Barred debt - nothing to do with a bank's policy of accepting applications for new accounts.

Willing2Learn

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 saying

We 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.

This is probably just an automated email, but I might just ask them for a telephone appointment for Monday. You never know lol....

[Deleted User]

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?