Natwest Feeder Account for BBLS

Pepper_Tree

Williehutchdarren1 said:

Ok
I had exactly the same prob only I've waited 3 weeks. In the end, after 5 attempts on the phone for someone to step up to the plate and stop saying it will be done within 24hrs when it obvs wasn't going to be I just refused to take what they was telling me and then (whilst on the phone with my mobile app open) got them to transfer the money that they could see I had but had no access to, to my current account. Wasn't a quick phone call mind you, 1hr 38mins! Later but now have the funds in my account. 

Thank you it's reassuring to know it's not just me having this/similar problems.  I will keep trying, I've already spent hours on this, and hopefully will get a successful conclusion. 

Ricoiheagwara

Can someone please give me a little advice as i have waited 3.5 weeks now for a feeder account to be opened with Natwest, i applied to open my feeder account on the 8th May. They did email me over the forms to sign which i did however i have still not heard a single thing back and i signed the forms 1 week ago... this being 2 weeks after starting my application. Is this normal to be waiting 3.5 weeks for a feeder account, it has now been another 1.5 weeks since i have signed the forms. Has anyone else waited this length of time just to open the account? Can anyone please update me on this? Thank you

ratbat_2019

I have heard after forms are signed money should be in your account within 3 working days, natwest are not in a rush for completing applications for feeder accounts & plus depositing funds when customers have been accepted.

Ricoiheagwara

ratbat_2019 said:

I have heard after forms are signed money should be in your account within 3 working days, natwest are not in a rush for completing applications for feeder accounts & plus depositing funds when customers have been accepted.

I haven't even started my application for the Bounce Back Loan yet, i am still looking to just get the feeder account open.... 3.5 weeks i have waited but that cant be normal can it? i'm really struggling with this situation, i'm just very confused for why i it would take over 3.5 weeks to just let me know if the account is open or not. it shows 12 days ago that RBS did an ID Check, its been nearly 2 weeks since that check?

Pepper_Tree

Ricoiheagwara said:

I haven't even started my application for the Bounce Back Loan yet, i am still looking to just get the feeder account open.... 3.5 weeks i have waited but that cant be normal can it? i'm really struggling with this situation, i'm just very confused for why i it would take over 3.5 weeks to just let me know if the account is open or not. it shows 12 days ago that RBS did an ID Check, its been nearly 2 weeks since that check?

Is the delay with the feeder account because you don't already have a personal account with Natwest?  When I applied for the feeder account, I already ran my business banking through a Natwest personal account, it was pretty straight forward, it took a week for them to acknowledge the online application but the day they did the feeder account was opened.  It is after that I have found it has all fallen down.  

Pepper_Tree

I've eventually managed to speak to an adviser at Natwest and been told that despite my loan having been agreed on 21st May (the date they emailed me back the signed loan agreement)  it is now in backlog to do final checks and they have no idea when it will be paid out.  Incredibly they cannot even indicate if it will be days or even weeks.  This is despite being told originally in 3 working days, when this target was not met I was told that it would be available to drawn down at midnight again this didn't happen.  Now it would appear I have to wait until all cows turn purple and pigs start to fly but only if this coincides with the man with the peg leg who lives on the moon having fish and chips for his supper!

jillyvvv

I have banked with NatWest personal with a foundation account for years.  Applied for BBLS and awarded told money would be in a matter of days.  Application cancelled as I’d entered personal account details.  Told to apply for a feeder account and was declined yesterday?? The email says my application for a current account was declined.  How can they say yes to BBLS and decline a feeder account which they say themselves is to facilitate paying the loan! My business was successful and today I get to hand back the keys to my shop as I owe rent and bills.

Ricoiheagwara

Does anyone feel that once the other lenders have moved forward and dealt with their own existing client base they will then start to open up to New Customers? .. Tide and Starling seem to be over ran and it seems they are running out of funds so there not really an option but the likes of Lloyds and banks similar to themselves after maybe 4-8 weeks once all this dies down, does anyone feel or know if the other banks will then give new customers the option? HSBC have declined me for a business bank account even though i do not owe a single bit of debt on my personal file, Natwest have taken 4 weeks and still no answer, Starling and Tide have opened me up an account but theres no movement, does anyone else have anymore updates or any more positive news that maybe down the line this money will come? Being a limited company and being able to provide proof my business turned over £100,000 in 201 its my personal credit file that is not allowing me to open up a business account with the few lenders that will currently take new customers, will this change with the other banks eventually or shall i start to accept i am about to lose my business? Can anyone please help with any advice, inbox me if required. Thank you

funkycredit

Seems you can't open any type of business account at the moment. But of a joke really. 

Valter30

Hi all can some one please tell me as i received this 2 emails from natwest is this for feeder account or new business account 
When I applied I have put my personal acount details on the form 

Can some one tell me how to apply for feeder acount with natwest please 
Thank you all