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

SouthLondonUser

I think Lloyds might be a better choice for me, and they have a good switching offer, too - and no card reader! And they also have app notifications on both credit and debit card, which is something I was keen on. Their credit card offers cashback but charges foreign transaction fees.

I had an account with a card reader 10 years ago and it was a nightmare. I remember thinking: how much of a hassle can it be? it's not like I set up a new payee every day. Yet, for Murphy's law, the few times I needed to do so mostly happened when I didn't have a card reader with me, including when I was on holiday. I don't want to go through that again. Plus I hate the idea of a card reader in 2022, so much e-waste for what?

Obviously that's just my preference, there are many people who don't mind and for them Natwest may well work brilliantly.

km1500

For me, Lloyds are too trigger happy in blocking large-ish payments. 

kaMelo

SouthLondonUser said:

Obviously that's just my preference, there are many people who don't mind and for them Natwest may well work brilliantly.

That would be me, I struggle to get a mobile signal at home so card readers are perfect for my situation and would be rather upset at the thought of their demise. I do realise I'm probably in the minority but certainly don't consider the use of a card reader makes a bank clunky or inefficient, if anything it's probably more secure than pass codes via text message.. 

Away from home new payee's can be created via the app without any card reader involved albeit with a £1000 limit.

SouthLondonUser

@km1500 Do you mean for debit/credit card transactions? Or also for wire transfers? And what is the process to verify those payments like? Is it as simple as pushing a few buttons on the app, or is it slow and clunky?

@kaMelo do you not have wifi? Wificalling? Sending a text may be less secure than a card reader, but an app can replicate the same challenge - response system of a card reader, with the same level of security, unless I'm missing something. E.g. the First Direct app works that way: to authorise a new payment you must enter into the app the number from the website, the app calculates a code, you give that code to the website, et voila, just like with a card reader.Having said that, I have no idea if the Lloyds app works the same way or if Lloyds just sends a text.

comeocome

gt94sss2 said:

comeocome said:

gt94sss2 said:

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.

Thanks for the advice! Why would you recommend HSBC particularly tho? 

I am actually looking at their HSBC Premier, which seems to come with a credit card, regardless of credit history/ score, which suits me, as a new arrival! (Hope I am right..?!) 

thanks!

Its a personal opinion but I feel that HSBC are better/more experienced at dealing with international customers/new arrivals.

Depending on where you come from they may also offer bank accounts in both countries if needed and/or consider your credit history overseas.

A HSBC Premier bank account does not automatically come with a credit card but if you qualify for a Premier account, I imagine they will give you one (apply for both at the same time!)

Another advantage of the HSBC Premier account is the lack of monthly fees and the free family travel insurance over other banks.

Are you sure they will consider your credit history overseas? Feels too technologically advanced for HSBC lol 

by the way does anyone have the hsbc expat premier credit card? Is it issued by HSBC UK too? Or still expat jersey?

penners324

Old antiquated bank. Ditch asap and move on

WillPS

penners324 said:

Old antiquated bank. Ditch asap and move on

Well worth dredging up a 2 month old thread to add this.