RBS have closed my account

fenwick458

Deleted_User said:

I've got an old Santander and Nationwide current accounts I want to close. Never been used for years and already think they are in dormant status. Hope I don't have a problem closing them over the phone as I'm certainly not booking appointments at branch to show ID.

nationwide should be fine you can do that online. santander could be an issue, if you don't know your details they aren't helpful. they just send me letters referreing to "account number ending in xxxx", and because I don't know the full number i can't do anything.
Halifax acc is a savings, cant switch., natwest is a business account, and i just kept getting passed from personal to business and back & forth till I just gave up. might get round to it one day

Whymeworry

I'm another victim, but have a slightly different angle. And besides, there's value in updating this thread!

My wife and I both received letters in January advising RBS had "decided to cease our banking relationship" and that we had to move within 60 days. So, two months on it's time to say good bye to RBS and to write on here.

We have held personal accounts for about 45 years each and had the whole range of products in that time, loans, mortgages, cards etc. These days we are fortunate to have no debt and are always in credit. In addition my family business (now sold) had an RBS account for around 70 years, and I can confirm that arrangement was very beneficial to the bank.

As with others here, the letter says they won't discuss the matter so I guess it's a done deal. I don't really care as I have other accounts but it does make me wonder a little. They don't even give me the "terms and conditions" to which they refer as a reason for bumping the account.

I did try to use the Switch service but that failed - apparently it's not possible to use that when the bank says "off you go".
Upon querying this with the bank I mentioned that it was fine for me to change everything over but if I hadn't been computer savvy or if I had been "vulnerable" there could have been major problems. They don't care in the least.

Still, I take some pride in telling anyone who will listen that RBS is not to be trusted. After all, they went bust once, no reason to think it won't happen again. Karma works.

eskbanker

Whymeworry said:

After all, they went bust once, no reason to think it won't happen again. Karma works.

Except of course they didn't go bust - if they had then it wouldn't be possible for it to happen to them again!

WillPS

One thing that puzzles me about these closures is that CASS out is forbidden. I wonder what the reason for that is, is it that the bank doesn't want to be held responsible indefinitely for redirection?

There ought to be some sort of simplification available if 'no fault' closures become more of a thing.

Whymeworry

eskbanker said:

Whymeworry said:

After all, they went bust once, no reason to think it won't happen again. Karma works.

Except of course they didn't go bust - if they had then it wouldn't be possible for it to happen to them again!

Thanks for taking the time to read my post and to point out my inaccurate comment. I now stand corrected.
Of course RBS didn't go bust, as we all know the Government saved the bank at enormous and continuing cost to the taxpayer.

MattMattMattUK

Whymeworry said:

eskbanker said:

Whymeworry said:

After all, they went bust once, no reason to think it won't happen again. Karma works.

Except of course they didn't go bust - if they had then it wouldn't be possible for it to happen to them again!

Thanks for taking the time to read my post and to point out my inaccurate comment. I now stand corrected.
Of course RBS didn't go bust, as we all know the Government saved the bank at enormous and continuing cost to the taxpayer.

The government put in place guarantees, those were never cashed, there was no cost initially, nor is there any continuing cost to the taxpayer, but do not let facts get in the way of a good rant. 

Brewer21

Very strange all this, I count myself lucky.
Thinking I'd actually switched my RBS account away some time ago, I think more than two years ago now. During that period up to November last year I suddenly had the urge to see if my account was actually still there, sure enough yes it was using my old log in details. I hadn't switched out after all, it contained just over £10. So after around 2 years as mentioned of it being dormant I was able to remove the £10. Me being after another switch offer I applied for a new debit card with RBS purely for switching purposes and after a good deal of messing got it in the post with my pin👍

I still have the account today, didn't switch it elsewhere and I'm currently waiting on an incentive from RBS as a current customer switched in an old account held  elsewhere. That's going to be a bit iffy as I'm not sure if I qualify for the £200 but worth trying, nothing lost if not.

So really as to stay on topic my account stayed unused for around 2 years whilst others have been basically closed, strange.??

Whymeworry

MattMattMattUK said:

Whymeworry said:

eskbanker said:

Whymeworry said:

After all, they went bust once, no reason to think it won't happen again. Karma works.

Except of course they didn't go bust - if they had then it wouldn't be possible for it to happen to them again!

Thanks for taking the time to read my post and to point out my inaccurate comment. I now stand corrected.
Of course RBS didn't go bust, as we all know the Government saved the bank at enormous and continuing cost to the taxpayer.

The government put in place guarantees, those were never cashed, there was no cost initially, nor is there any continuing cost to the taxpayer, but do not let facts get in the way of a good rant. 

Just to confirm I enjoy a good rant, so this must be wrong then :

According to one source, the UK government injected a total of £45.5 billion into RBS between October 2008 and December 2009, becoming its majority shareholder with a 58% stake. Since then, it has gradually reduced its shareholding through several sales, most recently in March 2022 when NatWest bought back £1.2 billion worth of shares from the government. After this transaction, the government’s shareholding was reduced to 54.8%.

Another source states that as of June 2018, the government had recouped £134 billion from its financial crisis interventions, compared with an outlay of £136.6 billion. This suggests that the net cost of government ownership of RBS was about £2.6 billion at that point.

Whymeworry

Brewer21 said:

Very strange all this, I count myself lucky.
Thinking I'd actually switched my RBS account away some time ago, I think more than two years ago now...
So really as to stay on topic my account stayed unused for around 2 years whilst others have been basically closed, strange.??

Getting back on topic also having had my rant lol - in another life I had dealings with RBS for an organisation holding a current and a very old deposit account. We moved everything, lock stock and barrel (actually a crate containing valuables) and closed the various accounts down.
FOUR years later we get a statement in from RBS for the very old deposit account which I personally, in branch, cleared out and closed. Couldn't make it up really.
Hey ho, gone are the days of the bank manager knowing the customer and knowing the teller at your own branch. 

flaneurs_lobster

Brewer21 said:

I still have the account today, didn't switch it elsewhere and I'm currently waiting on an incentive from RBS as a current customer switched in an old account held  elsewhere. That's going to be a bit iffy as I'm not sure if I qualify for the £200 but worth trying, nothing lost if not.

If you've not received a switching bonus from the NatWest Group since 1 Oct 2017 then you'd be eligible for their current £200 switching offer. Just need another current account to switch into your dormant one.