Natwest charges advise taking £100s per month

kash2001

Hi everyone,



Can anyone please advise if there is any solution to Natwest over the past year changing its terms and charging for Standing orders. We have a small business account with Natwest that has run for years, we use standing orders as it is a club based business and its easier for customers to pay via Standing order which they can setup and cancel easily.


However Natwest are charging us between £75 - 90 a month for the privilege of having the money come into our account. As far as I'm aware they do little but just record the transaction, but of course its costing us hugely.


I did speak with a Natwest 'drone' last year who said we couldnt change account to a more favorable one as the income is via Standing order and they cant change it and we cant move account without asking every member to change the Bank details either online or at their local branch if they exist anymore.


Can anything be done to recover these new unfair charges for money coming into the account, or can these standing orders be moved to another account without causing every member to change their end.


It has become a massive income for Natwest and seems unfair that they can just impose such charges suddenly without any option to move or recover these costs.



Speaking with them on the phone is useless, the reps other end have no power to do anything and just say they are sorry and understand the frustration but nothing they can do.


Any help, thoughts or advise on this as we cant surely be the only ones suffering these charges for money coming into the account.


ATB

[Deleted User]

Was it quoted in the terms and conditions that you signed and agreed to upon opening the account?

Willing2Learn

Why not consider changing your bank to a provider that doesn't make these charges?

Ergates

Why do you consider a bank charging fees for processing standing orders on a business account to be "unfair". They're providing a service, why do you believe it should be free?

kash2001

Hi and thanks for the replies, in short no I think natwest just changed their terms and just wrote to advise. I don't think it was in the original terms as I've had the account for about 18 years!

We have many people who are not good with banks or English so it's difficult to get this done easily cause they'd have to cancel the original transaction and go to the bank to set up another.

It just seems unfair that Natwest can just say we're not making enough and therefore impose such charges.


I'd have to find the original terms but I'm pretty sure they originally charged for DD but not SO but I'm not sure I've the original contract paperwork.


Thanks for the advice so far.

Atb

kash2001

Ergates wrote: »

Why do you consider a bank charging fees for processing standing orders on a business account to be "unfair". They're providing a service, why do you believe it should be free?

As said they didn't charge originally, what service are they providing the money is coming into the account not out of it. Its a computerised event coming from another account so what's the cost to them.

Their charging about. 50p or so a transaction, they charge for everything else and so they've decided to finish the job.... 😂

BoGoF

What do you honestly expect a call handler to do, overide bank policy and make an exception for you?

Unfair or not, it's their policy so only option is to switch banks.

kash2001

BoGoF wrote: »

What do you honestly expect a call handler to do, overide bank policy and make an exception for you?

Unfair or not, it's their policy so only option is to switch banks.

Thanks for your blunt reply... I don't need to be taught to suck eggs. Thanks. What I'm asking is if anyone knows if standing orders can move to another account or bank outside of natwest or if Natwest can just impose this.

I'll look at getting the terms of the original agreement and see what's stated if they'll even forward the terms from 18 years ago.

[Deleted User]

kash2001 wrote: »

Hi and thanks for the replies, in short no I think natwest just changed their terms and just wrote to advise. I don't think it was in the original terms as I've had the account for about 18 years!

We have many people who are not good with banks or English so it's difficult to get this done easily cause they'd have to cancel the original transaction and go to the bank to set up another.

It just seems unfair that Natwest can just say we're not making enough and therefore impose such charges.


I'd have to find the original terms but I'm pretty sure they originally charged for DD but not SO but I'm not sure I've the original contract paperwork.


Thanks for the advice so far.

Atb

If they sent changes out and you didn't read them then that's not their problem - that would have been your window of opportunity to move to another bank.

By not closing the account or otherwise you've agreed to the change in terms

societys_child

Ergates wrote: »

Why do you consider a bank charging fees for processing standing orders on a business account to be "unfair". They're providing a service, why do you believe it should be free?

Banks charging for their services, whatever next . . .
Simple solution: The OP could stop charging for their own services and there would be no standing order charges to process.

BoGoF

kash2001 wrote: »

Thanks for your blunt reply... I don't need to be taught to suck eggs. Thanks. What I'm asking is if anyone knows if standing orders can move to another account or bank outside of natwest or if Natwest can just impose this.

I'll look at getting the terms of the original agreement and see what's stated if they'll even forward the terms from 18 years ago.

Not sure if there is such a thing as a business account switch service. With personal account switches incoming payments are forwarded to the new account for a period (12 months I think) but sooner or later the person making payment would need to change the standing order

What good are terms from 18 years ago going to be. They can vary them at any time giving appropriate notice.