NatWest closing my 2 Reward accounts out of the blue

Alex9384

OK guys, just completed the application. Keep your fingers crossed for me. Hopefully HSBC won't change their mind.

No confirmation email yet so I suppose they are reviewing it manually just like NatWest did and only then will send me the email, maybe asking me to call back for some additional checks or to send them a proof of income? Or maybe they'll freak out and decide to not open it eventually? I think my increased NatWest overdraft is not on my credit files yet, so let's see after HSBC receive a monthly feed from CRAs.

I chose the 1st April as the date of the switch completion. Now I'm wondering if it's not too early as HSBC can take a long time to finish the account opening process. Ooops!

kaMelo

As you know HSBC are not the fastest to get everything up and running, I think mine took around three weeks but that was the earliest switch date offered to me. Iif you've been offered April 1st as a switch date by HSBC I would imagine they expect to get everything in place by then so I wouldn't be too worried, it is two weeks away after all.
The only downside I can see is Easter weekend from the 2nd, if it doesn't happen on the 1st then it's the 6th at the earliest.

maxximus75

It does say your account is now open so it all looks good.

If I remember, in the welcome pack there are just a few forms to sign and send back.

After I returned the documents it was the following week that I started to receive my account details, card, pin etc

Alex9384

kaMelo said:

As you know HSBC are not the fastest to get everything up and running, I think mine took around three weeks but that was the earliest switch date offered to me. Iif you've been offered April 1st as a switch date by HSBC I would imagine they expect to get everything in place by then so I wouldn't be too worried, it is two weeks away after all.
The only downside I can see is Easter weekend from the 2nd, if it doesn't happen on the 1st then it's the 6th at the earliest.

They actually offered even some earlier dates, I think from 23rd March or so, I chose 1st April. Perhaps they don't require any further checks and I can consider my account open? Let's see what happens today.

Alex9384

maxximus75 said:

It does say your account is now open so it all looks good.

If I remember, in the welcome pack there are just a few forms to sign and send back.

After I returned the documents it was the following week that I started to receive my account details, card, pin etc

Thanks. Did they ask you for a proof of income or something else?

colsten

@Alex9394, you think your case is a weird one: I read yesterday that Natwest closed the account of a 13 year old girl after she, with her parents' help, had added the account to her app. She had held the account since she was 11. She got a text to inform her of the closure. No prior communication with the kid or with her parents, and no explanation forthcoming.

Now I don't know what transactions occurred on that account but it's a bit puzzling.......

colsten

And now this!!! This has obviously been brewing for a considerable time. It might explain why they appear to be overzealous with closing of accounts.

[Deleted User]

It’s stories like this that prompted my thread about receiving a small compensation payment, as they seem to just close when they want to. 

Boldson100

Well vie made a complaint about them closing mine and now reading the new above I'm glad I've left

Alex9384

Thanks. Good to know there are probably many more people having similar problem with NatWest.

Btw, I downgraded both Reward accounts to Select, but NatWest changed them to Premier Select.

Maybe they think I just started earning more than 100k?