Natwest account freezes

onlyfoolsandparking

I've banked with Natwest for 40 years, It's my only current account with the usual lots going in, lots going out, I don't know what I would do if Natwest suddenly froze my account, well I DO know what I would do, I would just get on and deal with it but it would certainly cause me problems with making payments to people DD,s etc. I know this is easily avoidable by opening a second current account and I also know its well advised on here to have more than one current, I just don't know which bank to go with?


I'm not particularly tech savvy, I don't get Starling, monzo etc, in fact I've only in the last 12 months gone on line with Natwest AND had to go in branch to set up app haha, I'm old school believe me although in my defence I'm pretty good with finances especially credit cards, energy, insurances, mobiles and mortgages etc and how to get the very best deals but what are the options for old school dinosaurs like me? I was thinking of opening Santander 123 lite account but I don't want to switch or use CASS, could I just open the account and set up a SO to meet account 'pay-in' requirements. Should I even bother with 2nd current account at all?

Tildaplum

Well don't dismiss monzo out of hand ...

assuming you have a smartphone by far the easiest thing to do is to download the monzo app from the Play Store in the usual way and just follow the instructions

in about 5 minutes you will have have a nice new bank account with a sort code and account number and a debit card on the way!

Shakin_Steve

D3xt3r5L4b said:

Shakin_Steve said:

jonesMUFCforever said:

Come on now, there are many times Jackanory stories about account freezes and closures than genuine ones.

My point was that posts should be given credence until the Jackanoryism becomes obvious. Not the other way round.

There’s no evidence to say that the “This Is Money” article participants were also telling porkies either. 

Apart from the fact that that sentence doesn't make sense, you are right, no evidence to say they were telling porkies.

Thrugelmir

Shakin_Steve said:

Thrugelmir said:

In terms of one issue alone county line operations are a major problem in this country. For many it's now a way of life. Far better paid than dead end a job in MacDonalds or Costa Coffee. Cash needs to be legimitised. The banks quite rightly have an important part to play in the fight. Consumer banking is a very straightforward activity. Easy to spot unusual trends and make connections. When data from various sources is consolidated together. 

Unusual trends do not always make the customer a fraudster. There should be some kind of referral to the fraud team before the account is locked, not afterwards. Unless the whole country is guilty of fraud unless proven innocent, that is.

All I can say is that you seem oblivous to what is happening on your own doorstep. Which it will be. 

onlyfoolsandparking

Tildaplum said:

Well don't dismiss monzo out of hand ...

assuming you have a smartphone by far the easiest thing to do is to download the monzo app from the Play Store in the usual way and just follow the instructions

in about 5 minutes you will have have a nice new bank account with a sort code and account number and a debit card on the way!

I did have a good read online earlier about these banks including Monzo, it was the bit about a short video and passport picture oh and something about a code?? that makes me think that doing all that is beyond my tech talents, I've never even took a 'selfie' never mind an intro video but thanks for the tip, I certainly wont dismiss anything at this stage, I'm just mindful of how exposed I am only having one current account and yes I've got a smartphone (iPhone 7)  

Tildaplum

Absolutely not - I am 100% convinced you will definitely be able to do it

yes they take a video of your face - you have to point the smartphone at your face and say a few words and that is if you like their way of verifying it is you later on should they need to

 I suppose in some ways the equivalent of a signature!

go ahead and give it a try I think you'll be pleasantly surprised

You can then set up a faster payment from your existing bank to your new monzo account and send a few pounds over 

born_again

soulsaver said:

Some of the so called 'far fetched' posts only seem that way to some who are quick to jump to conclusions and like to make ill informed comments irrespective of the credibility of the posters circumstances.  

Well given that you never get the full story from the poster. If lucky you get some drip fed info, and have no idea on the background.
If a bank see's fit to freeze a account. Then as the saying goes. "There is no smoke without fire"

born_again

Shakin_Steve said:

There should be some kind of referral to the fraud team before the account is locked, not afterwards. Unless the whole country is guilty of fraud unless proven innocent, that is.

If only you knew the hoops that have to be jumped through to get a account blocked. These are not computer generated blocks. They are all instigated by a team that do nothing but take referrals from other staff. Bank staff have to report anything they feel is not right or risk censure for failing in their role.
Sadly regulator will not let bank keep the accounts open while it is investigated. In fact they will fine banks for NOT taking action.

Shakin_Steve

born_again said:

Shakin_Steve said:

There should be some kind of referral to the fraud team before the account is locked, not afterwards. Unless the whole country is guilty of fraud unless proven innocent, that is.

If only you knew the hoops that have to be jumped through to get a account blocked. These are not computer generated blocks. They are all instigated by a team that do nothing but take referrals from other staff. Bank staff have to report anything they feel is not right or risk censure for failing in their role.
Sadly regulator will not let bank keep the accounts open while it is investigated. In fact they will fine banks for NOT taking action.

I bow to your superior knowledge.

badger09

onlyfoolsandparking said:

I've banked with Natwest for 40 years, It's my only current account with the usual lots going in, lots going out, I don't know what I would do if Natwest suddenly froze my account, well I DO know what I would do, I would just get on and deal with it but it would certainly cause me problems with making payments to people DD,s etc. I know this is easily avoidable by opening a second current account and I also know its well advised on here to have more than one current, I just don't know which bank to go with?


I'm not particularly tech savvy, I don't get Starling, monzo etc, in fact I've only in the last 12 months gone on line with Natwest AND had to go in branch to set up app haha, I'm old school believe me although in my defence I'm pretty good with finances especially credit cards, energy, insurances, mobiles and mortgages etc and how to get the very best deals but what are the options for old school dinosaurs like me? I was thinking of opening Santander 123 lite account but I don't want to switch or use CASS, could I just open the account and set up a SO to meet account 'pay-in' requirements. Should I even bother with 2nd current account at all?

I would definitely recommend getting another current account. If you're not happy with app only banking, have a look at Nationwide. If you haven't had FlexDirect account, you could earn interest of 5% on up to £2500 for 12 months.  All  you have to do is pay £1000 in every month. Doesn't have to be in one lump, and you can move it out again immediately, in fact you can easily automate the process. You don't need to move your account to them, but you will have to move quickly though and get your application in before 30th April

https://www.nationwide.co.uk/products/current-accounts/flexdirect/features-and-benefits