NatWest closing my 2 Reward accounts out of the blue

Billy_B_North

General_Grant said:

Alex9384 said:

. . .

In a way I'm happy I'm leaving this pompous dinosaur and won't have to deal with their backward legacy systems anymore, . . .

The branch staff judge you by superficial appearances. 

Before lockdown I was interested in their Reward Black CC.  I went into a branch in another city which I was visiting - meeting auditors as I am the treasurer of a charity there and the building was on my walking route from the station. 

I was talked down to and it was suggested that this (and the Black Reward current account) was for "professional people like solicitors and accountants", the implication being that someone aged 70 and wearing clothes suitable for travelling on public transport could not possibly fall into this category.

Were they correct though?

ratechaser

Billy_B_North said:

General_Grant said:

Alex9384 said:

. . .

In a way I'm happy I'm leaving this pompous dinosaur and won't have to deal with their backward legacy systems anymore, . . .

The branch staff judge you by superficial appearances. 

Before lockdown I was interested in their Reward Black CC.  I went into a branch in another city which I was visiting - meeting auditors as I am the treasurer of a charity there and the building was on my walking route from the station. 

I was talked down to and it was suggested that this (and the Black Reward current account) was for "professional people like solicitors and accountants", the implication being that someone aged 70 and wearing clothes suitable for travelling on public transport could not possibly fall into this category.

Were they correct though?

The fact you (and they) don't know rather reinforces the point being made! This just sounds like a rather less glamorous retake of that scene from Pretty Woman 

Must admit though, I'm quite curious how I'll be treated when I'm older, retired, and in no mood to dress up to go to the bank (if indeed there is such a thing as branch banking in another 20 years). 

Right now the banks are generally very accommodating to me and Mrs RC purely on the basis of our earned income.  But when that stops and we are happily surviving on less than 100k a year out of our pensions (alright, "surviving" may not be quite the right word), will Natwest decide that we are no longer worthy of Premier status? Frankly they can have their black cards back, but I like the rewards that go with it!

And no, I know I can't complain, we make a lot more out of the banks than they make out of us, I'd just like it to carry on for as long as possible...

phillw

Alex9384 said:
If the problem is having 2 reward accounts, they can say it. If it's 2 overdrafts, they can say it as well. Or if they have problem with my standing orders (money in, money out), they can say it too. How would you avoid any of these and why would you even do it... I don't see the point in making it 'top secret'.

They obviously don't want people to bank with them who push their luck, if you knew the rules you could push your luck within the rules.

MrFrugalFever

I believe NatWest have just been hauled over the coals for a money laundering case they handled inappropriately from 2011 I believe, so I am guessing the knee-jerk reaction is to tighten everything up. Opening 2 reward accounts and having 2 large OD’s with multiple other accounts held and no real structure to the money in / money out, may flag somewhere. Who knows, you’ll never know but once the bank makes a decision like this it’s usually final and irreversible.

I've banked with NatWest for years nw and haven’t really ever had cause for concern, I’ve had 2 Advantage Gold accounts back in the day too but that was after i’d built up a good few years of history with them.

Saver101101

They do certainly seem to offer higher overdrafts to customers, I have £1000 on mines (Never Used) but apparently I can increase it to £15k.

MrFrugalFever

😱 that’s financial suicide. I am shocked in the current climate they’d offer that much!

Thrugelmir

Saver101101 said:

They do certainly seem to offer higher overdrafts to customers, I have £1000 on mines (Never Used) but apparently I can increase it to £15k.

Highly likely isn't the same as can. 

Saver101101

Thrugelmir said:

Saver101101 said:

They do certainly seem to offer higher overdrafts to customers, I have £1000 on mines (Never Used) but apparently I can increase it to £15k.

Highly likely isn't the same as can. 

It was £25k late last year, now its £15k, and when I emailed about it I was told I defiantly could, but there is no way I would.

Billy_B_North

ratechaser said:

Billy_B_North said:

General_Grant said:

Alex9384 said:

. . .

In a way I'm happy I'm leaving this pompous dinosaur and won't have to deal with their backward legacy systems anymore, . . .

The branch staff judge you by superficial appearances. 

Before lockdown I was interested in their Reward Black CC.  I went into a branch in another city which I was visiting - meeting auditors as I am the treasurer of a charity there and the building was on my walking route from the station. 

I was talked down to and it was suggested that this (and the Black Reward current account) was for "professional people like solicitors and accountants", the implication being that someone aged 70 and wearing clothes suitable for travelling on public transport could not possibly fall into this category.

Were they correct though?

The fact you (and they) don't know rather reinforces the point being made! This just sounds like a rather less glamorous retake of that scene from Pretty Woman 

Must admit though, I'm quite curious how I'll be treated when I'm older, retired, and in no mood to dress up to go to the bank (if indeed there is such a thing as branch banking in another 20 years). 

I rarely dress “professionally” outside work, but can’t recall a time when someone’s treated me badly because of it.
I’ve used the Coutts branch on the Strand a fair few times, and no-one has ever suggested that I shouldn’t be there, or am not one of their sort of clients.
They took me to a Six Nations game a few years ago, and no-one else there was wearing a suit, everyone was dressed pretty casually.

ratechaser

Billy_B_North said:

ratechaser said:

Billy_B_North said:

General_Grant said:

Alex9384 said:

. . .

In a way I'm happy I'm leaving this pompous dinosaur and won't have to deal with their backward legacy systems anymore, . . .

The branch staff judge you by superficial appearances. 

Before lockdown I was interested in their Reward Black CC.  I went into a branch in another city which I was visiting - meeting auditors as I am the treasurer of a charity there and the building was on my walking route from the station. 

I was talked down to and it was suggested that this (and the Black Reward current account) was for "professional people like solicitors and accountants", the implication being that someone aged 70 and wearing clothes suitable for travelling on public transport could not possibly fall into this category.

Were they correct though?

The fact you (and they) don't know rather reinforces the point being made! This just sounds like a rather less glamorous retake of that scene from Pretty Woman 

Must admit though, I'm quite curious how I'll be treated when I'm older, retired, and in no mood to dress up to go to the bank (if indeed there is such a thing as branch banking in another 20 years). 

I rarely dress “professionally” outside work, but can’t recall a time when someone’s treated me badly because of it.
I’ve used the Coutts branch on the Strand a fair few times, and no-one has ever suggested that I shouldn’t be there, or am not one of their sort of clients.
They took me to a Six Nations game a few years ago, and no-one else there was wearing a suit, everyone was dressed pretty casually.

A suit at a six nations game?? Twickenham hospitality isn't in any way comparable to the Lord's pavilion you know  And even there, I'm getting to an age where linen jacket and slacks are taking over. With the club tie of course 

Incidentally, if Coutts suits you well then fine, but I hope you realise it's your own fees that are funding that trip to the rugby...? If you're paying enough for the service then you could probably turn up in see through trousers and still get served, I'm thinking more about mainstream banking where I have done quite a good job of taking advantage of their perks over the years, without really giving them anything back. All too possible that may dry up eventually...