NatWest First Party Fraud Restrictions

Bdem96

NatWest Business account access restricted. So guys here is how it started, I tried use my card at a shop it declined didn’t think much of it, tried sign into my online banking and was getting an error. I thought maybe my card was paused due to a recent purchase I made online, so I called the Fraud department and the response I got was to email First.Party.Fraud@rbs.co.uk so I emailed them but they take a day or 2 to reply. I got impatient so I called the normal business line, luckily I was connected to a very helpful advisor who talked me through what happened, she said I had 3 transactions made to my account totalling to around £2,200 from a HSBC bank the the person reported as fraudulent, I asked for the specific transactions and the date they were made. I looked through my books and found the client that paid, I called them and warned them that I’ll be reporting this to the police and the action fraud department, they got scared and admitted they tried a fast one, so they called their bank and asked to recall the dispute (I have now confirmed they have recalled it for sure) it’s not fair how NatWest can just freeze all my account due to 1 person complaining, I have around £40,000 in my account that I can’t access. This is the latest reply I’ve got from the department 

“ Thank you for your email.

 Your account is currently under review with one of our fraud teams, there is not set timesacle. Once our review is completed, you will be advised on any next steps which require to be taken. There is no further information which we can provide at this time.

In the interim, you maintain a right to access any wages/benefits which are in your account via branch. If you require to do so, please attend with photo ID and proof of entitlement. Withdrawals are maintained at our branches discretion. Further, despite the restrictions, the account will continue to accept credits and pay direct debits/standing orders (if there are sufficient funds to pay these)” 

What am I waiting for them to review? Like HSBC has confirmed the payments are genuine and I still have my accounts restricted, I’ve also put a complaint through but no one has called me about this.

Has anyone experienced anything like this and what shall I do, everytime I call someone, all I get is to email the department but they take ages to reply.

Sandtree

Sounds like you are using a personal account for business? or it could just be a poorly worded letter.

You are waiting in a queue for them to review the whole situation... this could be breach of T&Cs if you are using a personal account, could be related to the three fraud recall attempts (withdraw of the complaint could be due to intimidation rather than anything positive) or just a general deeper dig into if they want you as a customer (many banks are double checking KYC checks on business accounts).

You say it was 3 transactions that were disputed in the space of a couple of days... how many transactions per month are you normally receiving?

Its always safest not to have all your eggs in one basket either because of IT issues with one bank or random freezes etc cause one account to become inaccessible for a period. 

eskbanker

Sandtree said:

Sounds like you are using a personal account for business? or it could just be a poorly worded letter.

The latter, presumably....

Bdem96 said:

NatWest Business account access restricted.

[...]

I got impatient so I called the normal business line

Bdem96

Sandtree said:

Sounds like you are using a personal account for business? or it could just be a poorly worded letter.

You are waiting in a queue for them to review the whole situation... this could be breach of T&Cs if you are using a personal account, could be related to the three fraud recall attempts (withdraw of the complaint could be due to intimidation rather than anything positive) or just a general deeper dig into if they want you as a customer (many banks are double checking KYC checks on business accounts).

You say it was 3 transactions that were disputed in the space of a couple of days... how many transactions per month are you normally receiving?

Its always safest not to have all your eggs in one basket either because of IT issues with one bank or random freezes etc cause one account to become inaccessible for a period. 

Hey, it’s not a personal account, it’s a business account registered on companies house etc. I have many payments come in and out my account and the 3 reports were from the same person for 3 different payments. It’s not fair how they block my whole account because of this.

Bdem96

eskbanker said:

Sandtree said:

Sounds like you are using a personal account for business? or it could just be a poorly worded letter.

The latter, presumably....

Bdem96 said:

NatWest Business account access restricted.

[...]

I got impatient so I called the normal business line

Any advice on what to do, every time I call I get told to email the department and wait for their response, funnily enough I called the main fraud department today they unblocked my card, but not my online banking I am so confused. 

eskbanker

Unfortunately there isn't really anything you can do other than to wait for the review to complete, even though you feel that they now have sufficient information to adjudicate in your favour.

For future protection it may be worth having multiple accounts so that you have access to other funds that are ring fenced away from the one used to receive client payments, as the same situation could arise again....

Bdem96

eskbanker said:

Unfortunately there isn't really anything you can do other than to wait for the review to complete, even though you feel that they now have sufficient information to adjudicate in your favour.

For future protection it may be worth having multiple accounts so that you have access to other funds that are ring fenced away from the one used to receive client payments, as the same situation could arise again....

Yeah that’s what I’ll be doing for certain. How long does review’s normally take? They say they have no time frame but I’m pretty sure it can’t take months can it? Like is it not meant to be sorted as soon as? And I’ve put a complaint through waiting for them to call me will it make a difference can they chase it up for me?

eskbanker

Bdem96 said:
How long does review’s normally take? They say they have no time frame but I’m pretty sure it can’t take months can it? Like is it not meant to be sorted as soon as? And I’ve put a complaint through waiting for them to call me will it make a difference can they chase it up for me?

As they say, there isn't a specific time frame, so they can be days, weeks, or even months.  A complaint won't make any difference, as the process takes as long as it takes and they're not allowed to discuss the detail with you, so as long as they're following the correct internal AML/KYC procedure then they're not actually doing anything wrong, even though it won't feel like that when you're on the receiving end of it....

binao

Bdem96 said:

eskbanker said:

Unfortunately there isn't really anything you can do other than to wait for the review to complete, even though you feel that they now have sufficient information to adjudicate in your favour.

For future protection it may be worth having multiple accounts so that you have access to other funds that are ring fenced away from the one used to receive client payments, as the same situation could arise again....

Yeah that’s what I’ll be doing for certain. How long does review’s normally take? They say they have no time frame but I’m pretty sure it can’t take months can it? Like is it not meant to be sorted as soon as? And I’ve put a complaint through waiting for them to call me will it make a difference can they chase it up for me?

Bank fraud has increased by 10x in as many  years and banks are now more liable, which is expensive and reduces profits.

The solution is stricter algorithms or complaint investigation to detect fraud which results in more false positives and customer grief. 

Grief compensation, or GAP, go away payments, are a relatively much lower cost then fraud compensation pay outs..

Also I believe Investigation progress is confidential by regulation.

Compensation can reduce  the frustration and stress.

Bdem96

eskbanker said:

Bdem96 said:
How long does review’s normally take? They say they have no time frame but I’m pretty sure it can’t take months can it? Like is it not meant to be sorted as soon as? And I’ve put a complaint through waiting for them to call me will it make a difference can they chase it up for me?

As they say, there isn't a specific time frame, so they can be days, weeks, or even months.  A complaint won't make any difference, as the process takes as long as it takes and they're not allowed to discuss the detail with you, so as long as they're following the correct internal AML/KYC procedure then they're not actually doing anything wrong, even though it won't feel like that when you're on the receiving end of it....

But the advisor did discuss the problem with me, so is she going to get in some sort of problem because other than her no one spoke to me about anything.

Bdem96

binao said:

Bdem96 said:

eskbanker said:

Unfortunately there isn't really anything you can do other than to wait for the review to complete, even though you feel that they now have sufficient information to adjudicate in your favour.

For future protection it may be worth having multiple accounts so that you have access to other funds that are ring fenced away from the one used to receive client payments, as the same situation could arise again....

Yeah that’s what I’ll be doing for certain. How long does review’s normally take? They say they have no time frame but I’m pretty sure it can’t take months can it? Like is it not meant to be sorted as soon as? And I’ve put a complaint through waiting for them to call me will it make a difference can they chase it up for me?

Bank fraud has increased by 10x in as many  years and banks are now more liable, which is expensive and reduces profits.

The solution is stricter algorithms or complaint investigation to detect fraud which results in more false positives and customer grief. 

Grief compensation, or GAP, go away payments, are a relatively much lower cost then fraud compensation pay outs..

Also I believe Investigation progress is confidential by regulation.

Compensation can reduce  the frustration and stress.

Yes but how am I in the wrong? the person that made the payment to me made false accusations towards me and even called back their complaints.