Nat west want me out

garyelder

I have been with them over 43 years there accusing me of using my personal account as a business account, no way am I 
I’m retired and I have a few accounts for savings Zopa, Atom,  Kent reliance chase some all paying monthly interest probably don’t like the monthly interest going in and out
i have spoken to Nat west management team he couldn’t find anything wrong but he said it’s not upto him to decide 
what a joke they say my account will start closing down 24th April 

Section62

If it is only interest from other banks and building societies then it isn't obvious why NatWest would think this is business activity.

Is there anything else, such as cryptocurrency trading, involved?

garyelder

No cryptocurrency 
I was talking to branch manager of nationwide last night there also sending letters out same thing 
not sure if the computer flag’s something up

Band7

Take the opportunity and switch to a different provider for a switch bonus.

SiliconChip

I can't see any reason why they might object to interest payments coming in and going out, but even if they did they wouldn't have regarded this as business activity. I'd suggest that either there has been a computer glitch that has misidentified some accounts as being used for business purposes, or in fact you are doing something that the bank considers to be business even if you don't.

It's probably worth making a formal complaint, they'll either agree with you or give you a reason why they think there is business use, but while you're waiting for that I'd be opening at least one alternative current account if you don't already have one, and consider doing what @Band7 has suggested.

https://www.natwest.com/support-centre/how-to-complain.html

RG2015

I have been with NatWest for 47 years and have loads of other current and savings accounts for interest.

I pretty much hate other current accounts and would be lost without the features, functions and ease of using NatWest.

What exactly have NatWest said to you and how did they tell you?

garyelder

I received a letter stating I was using my personal account as a business account 
I have the normal direct debits water electric phone gas 
there asking me to move my business activity to another account
I do not have any
the NatWest account team said that he couldn’t see anything wrong
not sure if it’s worth going to my local branch and having a word as luckily it’s still there

RG2015

garyelder said:

I received a letter stating I was using my personal account as a business account 
I have the normal direct debits water electric phone gas 
there asking me to move my business activity to another account
I do not have any
the NatWest account team said that he couldn’t see anything wrong
not sure if it’s worth going to my local branch and having a word as luckily it’s still there

You said "I have spoken to Nat west management team he couldn’t find anything wrong but he said it’s not up to him to decide"

They should have someone who call tell you which transactions were considered to be business. Then you could explain them.

In fraud cases they are not allowed t enter into a dialogue with the customer. Here though it is just an internal classification issue so I cannot see why they would not do you the courtesy of explaining their evidence.

artyboy

garyelder said:

I received a letter stating I was using my personal account as a business account 
I have the normal direct debits water electric phone gas 
there asking me to move my business activity to another account
I do not have any
the NatWest account team said that he couldn’t see anything wrong
not sure if it’s worth going to my local branch and having a word as luckily it’s still there

Whilst the oft repeated point on here is that banks can close accounts for pretty much any commercial reason, if they are specifically telling you that the reason is that you are using it for business purposes - and you're not - then it would be worth a formal complaint demanding they explain why they are asserting this.

Frankly I'd be a bit narked as well - I've been with them for 30 years myself, like the app, and make a decent amount out of them in rewards...

Band7

garyelder said:

I received a letter stating I was using my personal account as a business account 
I have the normal direct debits water electric phone gas 
there asking me to move my business activity to another account
I do not have any
the NatWest account team said that he couldn’t see anything wrong
not sure if it’s worth going to my local branch and having a word as luckily it’s still there

Have you asked them which of your transactions they consider business transactions?

RG2015

garyelder said:

I received a letter stating I was using my personal account as a business account 
I have the normal direct debits water electric phone gas 
there asking me to move my business activity to another account
I do not have any
the NatWest account team said that he couldn’t see anything wrong
not sure if it’s worth going to my local branch and having a word as luckily it’s still there

I see that on an earlier post that you have some buy to let properties. Do you use your NatWest account for transactions on this activity?

It is possible that the bank would consider associated transactions to be business transactions.

I seem to recall conversations on this forum on this and there were some differences of opinion. I can see it both being a business and an investment.