NatWest Switch Gone Wrong

[Deleted User]

Where did the “small amount of money” come from and how much is a “small amount”?

DCFC79

deadmaninc99 wrote: »

Would be nice for someone at NatWest to be sympathetic and honest and give me my money back. If that’s too much to ask, then how can I trust them as a bank? How can anyone?

Not everyone at NW will know the reason for whats happened, it will be those of a certain level who will know the answers but I'm not sure you would be able to speak to them to find out whats happened.

deadmaninc99

The small amount was £50.

I understand they may have terminated it at a high level and I don’t expect to be able to speak to them or ever find out why.

I just need my money back and to not know when I will be able to access it is shocking. Without other resources, how do I get to it in time to pay my bills?

How is a bank allowed to do that? Not everyone is rich enough or has multiple bank accounts to deal with that.

Ben8282

deadmaninc99 wrote: »

Not everyone is rich enough or has multiple bank accounts to deal with that.

You presumably do have multiple bank ccounts in order to have been able to transfer the money in to the new account.

Blackpool_Saver

How many banks a/c's have you got? do they think you are a money launderer ??? !!

Thrugelmir

deadmaninc99 wrote: »

My wages were paid in after I received a letter saying the account was closed.

The funds will be returned to your employers bank account.

born_again

deadmaninc99 wrote: »

How is a bank allowed to do that? Not everyone is rich enough or has multiple bank accounts to deal with that.

If a bank thinks something is not right then they will freeze a account and you can not access it till their investigation is completed. Other accounts and access to funds is not relevant or important to them, as they could have reported to Financial crime unit.
You will also not be told anything as to why or how long while this is going on. This is all standard procedure and even FOS will back the bank on their actions, as it is a regulatory procedure that banks have to action. Or they will end up with fines.

Clearly something is amiss if they have blocked a switch. Do you switch on a regular basis? Switched to them before for the bribe and then switched out?
Could be a CIFAS marker on the account.

deadmaninc99

I transferred the £50 from my old bank account, the one I’m switching from. I’ve got no idea if there is a CIFAS marker or not, but I’m always careful and regularly check my credit file.

The reason I was switching was because my bank who I’ve been with for 10+ years was not providing me with a good service.

I’m not sure what’s gone wrong but if they are going to investigate, then why don’t they just tell me as opposed to keeping me in the dark?

Just seems crazy and I’ve not switched my account before, so this is all new to me. I’m hoping it will resolve itself this week.

It’s very scary not knowing or being able to access your own money.

Thrugelmir

deadmaninc99 wrote: »

I’m not sure what’s gone wrong but if they are going to investigate, then why don’t they just tell me as opposed to keeping me in the dark?

Notification will be official in letter form. Likely that the letter was sent on Friday.

deadmaninc99

Well I’ve had the letter notifying me of the account being closed. That’s it. And I’m not allowed to know why, which is fine, but will now have sleepless nights and be highly stressed as I’m worried that I’m under investigation for fraud or something after some of the comments about CIFAS markers. I’ve done nothing wrong, but can I be arrested etc? This is a horrible situation for me now and I’m really worried about it all.