Natwest charges advise taking £100s per month

Kentish_Dave

kash2001 wrote: »

Hi everyone,
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'

Can anything be done to recover these new unfair charges...

It has become a massive income...
ATB

Dealing with these points, no, the charges are not unfair, you just don’t fancy paying for the service. If it’s not worth what you pay for it, then stop using it.

It’s not a massive amount of income, it’s a small amount, and for that they do have to deal with someone with such terrible manners that they refer to staff as drones. That’s not so much to have to deal with someone like that.

Move your account, or don’t, but maybe drop the sense of superiority and entitlement, it’s corrosive in the long run.

18cc

I would open another business account elsewhere and gradually move things over to them.

I have no experience recently of business accounts but have heard good things about Metro Bank

sheramber

kash2001 wrote: »

er.

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




Atb

Why is it unfair to out up charges? If your business isn't covering its costs and making a profit would you not put your charges up?

Uxb1

Kentish_Dave wrote: »

It’s not a massive amount of income, it’s a small amount, and for that they do have to deal with someone with such terrible manners that they refer to staff as drones. That’s not so much to have to deal with someone like that.

Considering the amount of rubbish and sometimes downright lies that are regularly reported on here as been told by call centre staff to posters/customers I'd say drones is a rather polite term.
I only now where ever possible use online chat or secure message as then there is a written transcript immediately available as to exactly what was said.
Last time I had a pack of lies from a call centre was about 6 month ago - from BT.

JuicyJesus

Uxb1 wrote: »

Considering the amount of rubbish and sometimes downright lies that are regularly reported on here as been told by call centre staff to posters/customers I'd say drones is a rather polite term.
I only now where ever possible use online chat or secure message as then there is a written transcript immediately available as to exactly what was said.
Last time I had a pack of lies from a call centre was about 6 month ago - from BT.

They're still people, and ultimately most are trying to do the best they can within the parameters they've been set by people paid about ten times as much as them. They're the messenger, don't shoot them.

gingercordial

I feel your pain, OP, though don't have a good solution.

I'm the treasurer of a charity and for other reasons (not fees) had to change accounts. Our 800+ members mainly pay by annual standing order and there is a business switching service which would be great but only redirects for three years, so if after that time we have not convinced everybody to change their SO we will lose that income. The membership secretary fears (and I agree) that if we push people to change their SOs they may simply cancel the old one and not set up the new one. So for us we are left running both accounts in tandem - as I said it wasn't a fees issue for us though so no cost to doing that other than my admin time.

So you have my sympathies with the problem of switching accounts when funded by SOs!

jonesMUFCforever

gingercordial wrote: »

I feel your pain, OP, though don't have a good solution.

I'm the treasurer of a charity and for other reasons (not fees) had to change accounts. Our 800+ members mainly pay by annual standing order and there is a business switching service which would be great but only redirects for three years, so if after that time we have not convinced everybody to change their SO we will lose that income. The membership secretary fears (and I agree) that if we push people to change their SOs they may simply cancel the old one and not set up the new one. So for us we are left running both accounts in tandem - as I said it wasn't a fees issue for us though so no cost to doing that other than my admin time.

So you have my sympathies with the problem of switching accounts when funded by SOs!

Just ask yourself one question - why would anything suddenly change after 3 years? That is put into the switching guarantee but as soon as the switch takes place every one of your 800 members account details will be changed without you having to do anything.
So unless somebody changes bank (and even then if they use a switch it will be automatic) that is the only time a human needs to intervene.
At the end of 3 years nobody will pull a switch and it all goes wrong - so need to worry - switch if you can save money.

On a personal side even when you get a renewal credit card the new card details are changed automatically on your stored payments list.

Ergates

jonesMUFCforever wrote: »

Just ask yourself one question - why would anything suddenly change after 3 years? That is put into the switching guarantee but as soon as the switch takes place every one of your 800 members account details will be changed without you having to do anything.
So unless somebody changes bank (and even then if they use a switch it will be automatic) that is the only time a human needs to intervene.
At the end of 3 years nobody will pull a switch and it all goes wrong - so need to worry - switch if you can save money.

On a personal side even when you get a renewal credit card the new card details are changed automatically on your stored payments list.

A standing order is a "Push" payment rather than payment - i.e. it is initiated by the payers bank (as opposed to a direct debit which is initiated by the receivers bank). This means the receivers bank *cannot* change anything about the SO, the payer has to make the change.

The switch process the OP is talking about is simply a redirect - i.e. the money still gets sent to the old account and is the automatically resent to the new account. After 3 years, this still stop happening and any money sent to the old account will be bounced back (assuming the old account is closed).

eskbanker

CASS redirects don't stop after three years anymore - they continue until there is a clear 13-month period without any redirection happening, so in these scenarios could continue indefinitely, as trailed at https://www.moneysavingexpert.com/news/2017/01/redirection-period-for-payments-to-old-bank-accounts-to-be-extended-/.

Since then, the detailed Ts & Cs of the switching service have included this clause 1.14:

1.14 In the unlikely event that payments continue to be redirected to your New Account during the 13 months leading up to the end of the 3 year redirection period we will automatically extend the redirection service and the term of this Agreement until such time as there is a 13 month period when no Direct Debits, Bacs Direct Credits or Faster Payment transactions have been automatically redirected by the central redirection service. Consequently payments made with intervals of more than 13 months will be disregarded.