Natwest remains the typical inefficient, slow bank with clunky processes and systems

inspectorperez

Just a response to SouthLondonUser post at the commencement of this thread.

My company have been a customer of RBS/NatWest since 2000. In 2000 we borrowed £400K for a property project which was paid off in full within 8 years.

Several weeks ago our company directors all received text messages containing a link to enable everyone to verify personal ID by means of HooYu process. It was advised that it was simpler to complete this using a smartphone. Three checks to complete. First one was "Liveness" which was face recognition involving touching your nose on the screen. Second was driving license and passport images using the smartphone camera. Third was copy of a recent utility bill.

I don't have a problem with having my ID revalidated after 22 years and understand the requirement for all banks to be fully compliant. However the technology involved was absolutely crass! Liveness test was completed okay. Driving license image was fine. The process would simply not however accept my passport image. I tried numerous attempts in different locations within my home to ensure maximum light and no reflection etc. No way could I achieve the green tick which was required after uploading each image.

So off down to the nearest branch to discover it had closed 2 days earlier! Then a 10 minute walk to the next nearest branch and join a 30 minute queue. The young lady who I eventually saw was perfectly charming and made several attempts herself to upload an acceptable image of the passport, all of which failed. She then took photocopies of the passport and utility bill and informed me that should be an end to it.

Yesterday, I received a letter from the bank informing me that the business profile was still incomplete and failure to deal with outstanding matters would result in limitations being placed on the operation of the account.

Rather than waste time on phone calls, I resorted to the trusty desktop computer. Sure enough I was able to scan my passport in full colour quality and it was accepted straightaway. Same with a utility bill.

I am now assured that everything is in order for all directors (the other 3 also have their own tales to tell along similar lines as my own).

The whole experience was an absolute joke!

On reflection, if it had been made clear at the outset that customers could use a combination of smartphone and desktop computers, all the hassle would have been avoided.

[Deleted User]

Clunky perhaps but with a Fintech you'd likely have simply found your app blocked and having to contact them via twitter.

SouthLondonUser

Could you elaborate please? This is an incredibly clunky process, which Monzo and Starling do not have.
If instead you are referring to accounts being blocked for no valid reason, eg because some automated system mistakes you for Bin Laden, I'm not sure traditional banks would be any better than fintechs there.

phillw

MovingForwards said:

If you've a card reader for another bank you can use that.

Only until you've requested a card reader and enough days have passed for them to have sent it out and you received it, which is kinda weird.

What I found annoying is they wait for you to request one, despite it being required to do anything with the account.

MovingForwards said:

I think it's just large payments for the card reader, I've not used mine for ages as I only use the app. 

I think it's something about setting up a new payee and possibly the first time you send over a certain value to a payee.

Also logging in on the web site the second time after you open the account, they let you in the first time for laughs.

comeocome

SouthLondonUser said:

I decided to apply for a Natwest account, mostly because I was interested in a bank giving me instant app notifications on both debit and credit card expenses - I had made a post about it https://forums.moneysavingexpert.com/discussion/6390166/instant-app-notifications-for-both-debit-and-credit-cards-only-natwest/p1

TLDR: opening the account is taking forever and is proving to be a bureaucratic mess. If the account and the app work smoothly after the initial hiccups, I'll keep it, otherwise I'll probably switch the bank account to Starling and maybe keep Natwest just for the credit card, if they let me. Not Monzo because it doesn't have an IBAN to receive foreign wire transfers and because its process to authorise large, one-off payments seems much slower and generally worse than Starling's.

The beginning hasn't been great.

I applied for an account 3 weeks ago and immediately submitted the documentation requested.

The same PDF scan of my passport I have used dozens of times elsewhere was not accepted. I took the original passport to a branch. The copy must have got lost in some black hole because after a week I was asked to upload it again.

After 15 days I received an email that the account had been approved.

After a few more days I activated online access but couldn't activate the app because "my mobile has been updated recently" - it has not, it's always been the same.

After a few more days the switching process from my old bank started; so I logged back in, but this time "account access is restricted" because I don't yet have a card reader (which should be on its way but who knows when it will arrive). The website says there is an option to receive an activation text but I need to contact them to update my mobile number.

So I contact them and someone says that maybe it's because my number had been entered as +447 so they change it to 07 but I still need to wait a few more days before I can receive an activation code via text. Why? Unclear.

So basically these geniuses first activate my account and enable my online banking, then, while switching my account from another bank, they restrict my online access. Maybe don't start the switch till you have sent me the card reader and verified I can fully operate the account? Just a thought.

Before they restricted the account I managed to apply for a credit card. But I was asked to re-upload identity documents and to take a picture of my face in an app. But I was already a customer. Two different ID verification processes for bank accounts and credit cards, which must be repeated even for existing customers. Odd.

Oh gosh sorry to hear that. I just opened a NatWest Premier account, initially I was thinking it’s been 1 day how come it’s still not yet approved? Now I know why… at least 15 days… gosh! 

So when your account is approved and opened, then you immediately apply for the credit card? And then you realise your (online) account access is restricted? Because I also want to apply for a credit card with NatWest, the FX fee free card, that’s actually the main reason why I want to open a premier account with them. I am new to the country, so I am hoping that the fact that I qualify for premier will allow them to approve my credit card without much credit history in the country.. 

(By the way, although I applied for the Premier account, how come it doesn’t ask me to upload any proof of salary? Any one else has any thoughts?) 

DullGreyGuy

eDicky said:

DullGreyGuy said:

eDicky said:

DullGreyGuy said:

Rob5342 said:

That sounds horrendous. With Starling it took about 15 minutes to go from never having dealt with them before to having an account open that I could transfer money back and forth in the app.

... no idea how Starling's process is if they cannot ID you with the CRAs. Could imagine they are even more painful if they want certified copies of documents sent given they dont have a branch you can go into for their staff to confirm its a genuine document.

Starling Bank account opening is entirely with the app (or perhaps also now with their website). Even if they locate you electronically, presentation of photo ID, selfie, perhaps also video and voice now, is required. So if anything additional such as address verification is needed, it would be uploaded in the same way in-app.

Assumption or known fact?

If they've had no match at all via CRA seems a rather weak KYC process to accept a random photo of a claimed to be genuine document. Not that you couldnt collude with a doctor or branch staff to give a certified copy but its certainly a more robust check given someone else's job is potentially on the line if its shown they intentionally assisted in fraudulent setup of an account.   

My assumption was they probably just decline rather than either have a weak process or start having to deal with physical documents

Certainly other documents such as source of funds etc, on occasions when required, are uploaded with the app, the same as any fintech such as Revolut, Monzo etc. I don't think I've ever actually heard of address verification being required by Starling, whose basic purpose for the address is to send your debit card.

So an assumption.

If the basic purpose of the address is to send you the card then there are a lot of execs that are going to be barred from holding senior manager positions in financial service companies as well as substantial corporate fines. ID checking, including address verification, is about anti-money laundering and KYC checks that they are legally obliged to do and must be able to evidence that they took sufficient caution.

CooperSF

NtWest refuse to close my current account unless I physically visit a branch (even though I filled in their online closure request form).

pfpf

just switch it to an existing account with another bank?

gt94sss2

comeocome said:

SouthLondonUser said:

I decided to apply for a Natwest account, mostly because I was interested in a bank giving me instant app notifications on both debit and credit card expenses - I had made a post about it https://forums.moneysavingexpert.com/discussion/6390166/instant-app-notifications-for-both-debit-and-credit-cards-only-natwest/p1

TLDR: opening the account is taking forever and is proving to be a bureaucratic mess. If the account and the app work smoothly after the initial hiccups, I'll keep it, otherwise I'll probably switch the bank account to Starling and maybe keep Natwest just for the credit card, if they let me. Not Monzo because it doesn't have an IBAN to receive foreign wire transfers and because its process to authorise large, one-off payments seems much slower and generally worse than Starling's.

The beginning hasn't been great.

I applied for an account 3 weeks ago and immediately submitted the documentation requested.

The same PDF scan of my passport I have used dozens of times elsewhere was not accepted. I took the original passport to a branch. The copy must have got lost in some black hole because after a week I was asked to upload it again.

After 15 days I received an email that the account had been approved.

After a few more days I activated online access but couldn't activate the app because "my mobile has been updated recently" - it has not, it's always been the same.

After a few more days the switching process from my old bank started; so I logged back in, but this time "account access is restricted" because I don't yet have a card reader (which should be on its way but who knows when it will arrive). The website says there is an option to receive an activation text but I need to contact them to update my mobile number.

So I contact them and someone says that maybe it's because my number had been entered as +447 so they change it to 07 but I still need to wait a few more days before I can receive an activation code via text. Why? Unclear.

So basically these geniuses first activate my account and enable my online banking, then, while switching my account from another bank, they restrict my online access. Maybe don't start the switch till you have sent me the card reader and verified I can fully operate the account? Just a thought.

Before they restricted the account I managed to apply for a credit card. But I was asked to re-upload identity documents and to take a picture of my face in an app. But I was already a customer. Two different ID verification processes for bank accounts and credit cards, which must be repeated even for existing customers. Odd.

Oh gosh sorry to hear that. I just opened a NatWest Premier account, initially I was thinking it’s been 1 day how come it’s still not yet approved? Now I know why… at least 15 days… gosh! 

So when your account is approved and opened, then you immediately apply for the credit card? And then you realise your (online) account access is restricted? Because I also want to apply for a credit card with NatWest, the FX fee free card, that’s actually the main reason why I want to open a premier account with them. I am new to the country, so I am hoping that the fact that I qualify for premier will allow them to approve my credit card without much credit history in the country.. 

Depending on which country you come from, you may have been better applying with HSBC.

There are several debit cards which have no f/x fees if you don't immediately get a credit card from them.

You should also make sure you are on the electoral roll if eligible.

SouthLondonUser

gt94sss2 said:

Depending on which country you come from, you may have been better applying with HSBC.

There are several debit cards which have no f/x fees if you don't immediately get a credit card from them.

You should also make sure you are on the electoral roll if eligible.

Yes, like I had said, I am on the electoral roll, and have multiple accounts, including a mortgage. You seem to assume I have only just arrived in the UK from abroad - that's not the case.