NatWest Switch disaster = no bank accounts

Edy_d

I've had such a frustrating week, the end result being me ending up with no bank accounts!
Switching banks is supposed to be hassle free... Well here's my story, I'd be very grateful if anyone can help or has advice.

I decided to switch to natwest from nationwide, mostly due to the £200 incentive.
I applied to switch and everything was as it should be and the switch was due to be completed on 10th march.
Of course I completed the NatWest identification process using my driver's license and everything was processed and accepted and an account opened, however on downloading and open the NatWest app I noticed there was a mistake with my surname, there was one letter wrong.
I rang NatWest straight away and told them my surname wasn't correct... I was told by the guy not to worry and that I could amend my surname in branch. Well as this issue fell on the weekend and my local NatWest branches don't open weekends I was going to have to wait until Monday (6th march)
On the Sunday before (5th march) I tried to go into my account on the app but it wouldn't allow me, so I called NatWest and was told that the account had been closed, I proceeded to ask why and about the switch and was told there would be an investigation into why the account was closed and I'd hear back in 4 days.
Now I was a little worried at this time but presumed that as the NatWest account had been closed and there not now being an account to switch into the switch would be automatically cancelled.. but no this never happened.. I went into my local branch on Monday 6th march to see what was going on and was told the account had been closed and that the switch would be cancelled and I'd have to apply to switch again, they also told me to contact nationwide the bank I was switching from and tell them the NatWest account had been closed. Of course I did this but was told by nationwide that I'd need to speak to NatWest  about anything to do with the switch as they were in charge of this.
Over the next few days I contacted NatWest countless times on the phone and in the chat to find out what was going on and to raise my concerns as to why the switch still seemed to be proceeding even though the switch account had been closed.
I was told different things by different people on the phone, I was left in a loop in the chat where the agent would say they would put me through to the right team but nobody came back and the chat would timeout and I'd have to do the whole process again... I called so many times and was told that my questions couldn't be answered and I had to use the chat...
Anyway as the day of the switch was approaching I was still receiving updates from NatWest that my direct debits had been switched over etc and everything was on track.. totally crazy as there was no bank account.. I tried nationwide again many times as I could feel that the account was also going to close, I was told by them that they couldn't stop it and they said the switch wouldn't happen if there was no account to switch too...

Now I guess you can now see where this went, Friday 10th came and the switch completed, my nationwide account closedl! 
I don't get why NatWest carried this through, I now have no bank accounts, NatWest closed both!! And I've heard nothing from them apart from a letter saying they closed the account which arrived on the 9th along with the pin number for the account debit card!

So Where did my switch go?

Luckily on Thursday 9th after still not getting any guidance or help from NatWest I thought right I'll move my nationwide balance to a friend's account and right down all my important direct debits..

This has been a disaster and so stressful, I don't know what to do about it, companies I use for car insurance etc etc are getting hold of me saying they can't setup direct debits now etc

Anyone have an guidance? Sorry about the long 1st post.

datz

Edy_d said:

I've had such a frustrating week, the end result being me ending up with no bank accounts!
Switching banks is supposed to be hassle free... Well here's my story, I'd be very grateful if anyone can help or has advice.

I decided to switch to natwest from nationwide, mostly due to the £200 incentive.
I applied to switch and everything was as it should be and the switch was due to be completed on 10th march.
Of course I completed the NatWest identification process using my driver's license and everything was processed and accepted and an account opened, however on downloading and open the NatWest app I noticed there was a mistake with my surname, there was one letter wrong.
I rang NatWest straight away and told them my surname wasn't correct... I was told by the guy not to worry and that I could amend my surname in branch. Well as this issue fell on the weekend and my local NatWest branches don't open weekends I was going to have to wait until Monday (6th march)
On the Sunday before (5th march) I tried to go into my account on the app but it wouldn't allow me, so I called NatWest and was told that the account had been closed, I proceeded to ask why and about the switch and was told there would be an investigation into why the account was closed and I'd hear back in 4 days.
Now I was a little worried at this time but presumed that as the NatWest account had been closed and there not now being an account to switch into the switch would be automatically cancelled.. but no this never happened.. I went into my local branch on Monday 6th march to see what was going on and was told the account had been closed and that the switch would be cancelled and I'd have to apply to switch again, they also told me to contact nationwide the bank I was switching from and tell them the NatWest account had been closed. Of course I did this but was told by nationwide that I'd need to speak to NatWest  about anything to do with the switch as they were in charge of this.
Over the next few days I contacted NatWest countless times on the phone and in the chat to find out what was going on and to raise my concerns as to why the switch still seemed to be proceeding even though the switch account had been closed.
I was told different things by different people on the phone, I was left in a loop in the chat where the agent would say they would put me through to the right team but nobody came back and the chat would timeout and I'd have to do the whole process again... I called so many times and was told that my questions couldn't be answered and I had to use the chat...
Anyway as the day of the switch was approaching I was still receiving updates from NatWest that my direct debits had been switched over etc and everything was on track.. totally crazy as there was no bank account.. I tried nationwide again many times as I could feel that the account was also going to close, I was told by them that they couldn't stop it and they said the switch wouldn't happen if there was no account to switch too...

Now I guess you can now see where this went, Friday 10th came and the switch completed, my nationwide account closedl! 
I don't get why NatWest carried this through, I now have no bank accounts, NatWest closed both!! And I've heard nothing from them apart from a letter saying they closed the account which arrived on the 9th along with the pin number for the account debit card!

So Where did my switch go?

Luckily on Thursday 9th after still not getting any guidance or help from NatWest I thought right I'll move my nationwide balance to a friend's account and right down all my important direct debits..

This has been a disaster and so stressful, I don't know what to do about it, companies I use for car insurance etc etc are getting hold of me saying they can't setup direct debits now etc

Anyone have an guidance? Sorry about the long 1st post.

Technically your Natwest account still exists. Your access has just been removed and the account will probably be fully closed in due course. That would be why the automated switch concluded successfully. I don't really see Nationwide as being at fault here.

Natwest likely don't want you as a customer (the letter you received will give you some indication). I'd hazard a guess that their secondary account opening checks flagged an issue - maybe it was just due to the typo in your name, or maybe it is something more serious. Best to play it safe and not pursue an account with the Natwest group (includes RBS and Ulster Bank). Something has spooked them, so might also be worth looking over your credit files and checking the fraud agency databases for any adverse markers.

Your first priority should be getting another current account up and running, so that you have somewhere to receive wages and make payments, direct debits, etc. I actually find Nationwide pretty good from my own experience (they frustrate me the least), so if you were happy with them before then you could always reopen an account there (you will get a new sort code/account number).

Going forward, I'd suggest only ever switching secondary accounts when you chase switching incentives. Never your primary account - it's just not worth the potential headache. Over the years I have accumalated (and still have) accounts with pretty much every player - except the Natwest group - one day they decided they didn't like me either (and I only had negligible activity on their accounts purely for their rewards).

You are fortunate you moved your balance elsewhere before the switch completed. Natwest are known to be very slow returning your funds when they close accounts. Keep in mind that the way in which current accounts are switched through the CASS, also puts a redirect on incoming payments into your original account - in short, any payments to your Nationwide account details will be redirected to your Natwest account. Depending on the status of your Natwest account, this might be problematic. So best get onto your employer (and anyone else that sends you money) with your new account details asap.

Finally, you could always make a complaint to Natwest through their formal complaints process, and then escalate if you are unhappy with the outcome. Based on your outline of events, I think it would be worth pursuing (especially regarding the point about you specifically being told the switch had been cancelled).

35har1old

datz said:

Edy_d said:

I've had such a frustrating week, the end result being me ending up with no bank accounts!
Switching banks is supposed to be hassle free... Well here's my story, I'd be very grateful if anyone can help or has advice.

I decided to switch to natwest from nationwide, mostly due to the £200 incentive.
I applied to switch and everything was as it should be and the switch was due to be completed on 10th march.
Of course I completed the NatWest identification process using my driver's license and everything was processed and accepted and an account opened, however on downloading and open the NatWest app I noticed there was a mistake with my surname, there was one letter wrong.
I rang NatWest straight away and told them my surname wasn't correct... I was told by the guy not to worry and that I could amend my surname in branch. Well as this issue fell on the weekend and my local NatWest branches don't open weekends I was going to have to wait until Monday (6th march)
On the Sunday before (5th march) I tried to go into my account on the app but it wouldn't allow me, so I called NatWest and was told that the account had been closed, I proceeded to ask why and about the switch and was told there would be an investigation into why the account was closed and I'd hear back in 4 days.
Now I was a little worried at this time but presumed that as the NatWest account had been closed and there not now being an account to switch into the switch would be automatically cancelled.. but no this never happened.. I went into my local branch on Monday 6th march to see what was going on and was told the account had been closed and that the switch would be cancelled and I'd have to apply to switch again, they also told me to contact nationwide the bank I was switching from and tell them the NatWest account had been closed. Of course I did this but was told by nationwide that I'd need to speak to NatWest  about anything to do with the switch as they were in charge of this.
Over the next few days I contacted NatWest countless times on the phone and in the chat to find out what was going on and to raise my concerns as to why the switch still seemed to be proceeding even though the switch account had been closed.
I was told different things by different people on the phone, I was left in a loop in the chat where the agent would say they would put me through to the right team but nobody came back and the chat would timeout and I'd have to do the whole process again... I called so many times and was told that my questions couldn't be answered and I had to use the chat...
Anyway as the day of the switch was approaching I was still receiving updates from NatWest that my direct debits had been switched over etc and everything was on track.. totally crazy as there was no bank account.. I tried nationwide again many times as I could feel that the account was also going to close, I was told by them that they couldn't stop it and they said the switch wouldn't happen if there was no account to switch too...

Now I guess you can now see where this went, Friday 10th came and the switch completed, my nationwide account closedl! 
I don't get why NatWest carried this through, I now have no bank accounts, NatWest closed both!! And I've heard nothing from them apart from a letter saying they closed the account which arrived on the 9th along with the pin number for the account debit card!

So Where did my switch go?

Luckily on Thursday 9th after still not getting any guidance or help from NatWest I thought right I'll move my nationwide balance to a friend's account and right down all my important direct debits..

This has been a disaster and so stressful, I don't know what to do about it, companies I use for car insurance etc etc are getting hold of me saying they can't setup direct debits now etc

Anyone have an guidance? Sorry about the long 1st post.

Technically your Natwest account still exists. Your access has just been removed and the account will probably be fully closed in due course. That would be why the automated switch concluded successfully. I don't really see Nationwide as being at fault here.

Natwest likely don't want you as a customer (the letter you received will give you some indication). I'd hazard a guess that their secondary account opening checks flagged an issue - maybe it was just due to the typo in your name, or maybe it is something more serious. Best to play it safe and not pursue an account with the Natwest group (includes RBS and Ulster Bank). Something has spooked them, so might also be worth looking over your credit files and checking the fraud agency databases for any adverse markers.

Your first priority should be getting another current account up and running, so that you have somewhere to receive wages and make payments, direct debits, etc. I actually find Nationwide pretty good from my own experience (they frustrate me the least), so if you were happy with them before then you could always reopen an account there (you will get a new sort code/account number).

Going forward, I'd suggest only ever switching secondary accounts when you chase switching incentives. Never your primary account - it's just not worth the potential headache. Over the years I have accumalated (and still have) accounts with pretty much every player - except the Natwest group - one day they decided they didn't like me either (and I only had negligible activity on their accounts purely for their rewards).

You are fortunate you moved your balance elsewhere before the switch completed. Natwest are known to be very slow returning your funds when they close accounts. Keep in mind that the way in which current accounts are switched through the CASS, also puts a redirect on incoming payments into your original account - in short, any payments to your Nationwide account details will be redirected to your Natwest account. Depending on the status of your Natwest account, this might be problematic. So best get onto your employer (and anyone else that sends you money) with your new account details asap.

Finally, you could always make a complaint to Natwest through their formal complaints process, and then escalate if you are unhappy with the outcome. Based on your outline of events, I think it would be worth pursuing (especially regarding the point about you specifically being told the switch had been cancelled).

May be hard to prove without written confirmation

penners324

Get an account set up with a different bank today. Starling, Monzo take minutes.

Manually switch your DDs to them

km1500

TSB also give you an account no and sort code immediately

Also, whoever you choose, set up a second bank account somewhere else 'just in case"

Sarahspangles

Ironically I switched from NatWest to Nationwide because of persistent sloppy mistakes by NatWest who never apologised or provided redress.  In 24 years of banking with Nationwide, not one mistake.

Band7

Sarahspangles said:

Ironically I switched from NatWest to Nationwide because of persistent sloppy mistakes by NatWest who never apologised or provided redress.  In 24 years of banking with Nationwide, not one mistake.

Wish I could say that. Most of the compensation money I have received from financial institutions came from Nationwide. None of it for day-to-day current account business, but several about ISAs and one, large one, about a CASS switch into Nationwide that they messed up royally. I still have accounts with them, though, as I am confident they will sort out any issues that may arise. Same is true for Natwest IMO.

Edy_d

Thanks for replies.
Im thinking to go into NatWest branch tomorrow and trying to find out exactly what has happened and why there was a total lack of help and advice from NatWest when things appeared to be going pear shaped.
I did fill out a NatWest complaint form about this. But I doubt I'm going to hear anything back from how things have been so far.
There's a section on the form asking what the best outcome could be from the complaint.
I said that NatWest open me an account, help me set up all the direct debits and take responsibility for any issues coming from companies not being able to take direct debits from my account ls. And also of course the £200 switch incentive should be paid into the account.
I don't think any of this will happen though.

So if I open two new bank accounts, one for my main banking and one to switch from, how quickly could I switch from the switch only bank, as this was what the reason for switching was initially all about.

rothesy

Quote to the bank, "current account switch guarantee".  They have failed on every level.

datz

Edy_d said:

Thanks for replies.
Im thinking to go into NatWest branch tomorrow and trying to find out exactly what has happened and why there was a total lack of help and advice from NatWest when things appeared to be going pear shaped.
I did fill out a NatWest complaint form about this. But I doubt I'm going to hear anything back from how things have been so far.
There's a section on the form asking what the best outcome could be from the complaint.
I said that NatWest open me an account, help me set up all the direct debits and take responsibility for any issues coming from companies not being able to take direct debits from my account ls. And also of course the £200 switch incentive should be paid into the account.
I don't think any of this will happen though.

So if I open two new bank accounts, one for my main banking and one to switch from, how quickly could I switch from the switch only bank, as this was what the reason for switching was initially all about.

A visit to the Natwest branch would likely be a waste of time. Unless their systems have changed, front line customer service staff lose visibility of accounts facing closure. They would likely just tell you to phone the "account closures" team (who tend to be quite rude).

Not sure what complaints process you followed in branch, but the relevant information about how it works can be found on their website: https://www.natwest.com/support-centre/how-to-complain.html

I wouldn't waste time trying to persuade Natwest (RBS/Ulster Bank) to reopen your account - you need an account up and running as soon as possible. There are plenty of options. The newer fintech (app-only) banks tend to open accounts fast as mentioned by others above. If you were happy with nationwide building society and still have an active profile there, opening another current account with them should be very straight forward too. Some other traditional banks will also give you your account details immediately after approval. If you have a Metro Bank near you, you can even walk in, open an account there and then, and walk out with the account details and a debit card.

Regarding your final question, the easiest place to open a secondary account for the purposes of switching, would be with your existing provider (or with a provider that never offers switching incentives). You'll obviously need to wait for the debit card to be delivered. Read any terms and conditions of the switching offer you are chasing, and ensure you meet them on that account before switching (e.g. setting up direct debits, etc). Also, don't abuse any single institution too much by continually generating and switching out accounts with them - they can get grumpy and eventually not want your business.

Unrelated to switching, but still important, is to ensure you build some redundancy in your financial affairs - this means current accounts with more than one banking group, and savings in more than one place - due to technical issues (e.g. the TSB meltdown), or providers freezing accounts (sometimes for weeks at a time).

pridehappy

I heavily believe it depends on the bank you are moving from and how the switch experience will go. I don't think that NatWest deserves the service if this is how they treated you and the whole system sounds overcomplicated. I recently switched my main bank account from first direct to Virgin Money, and the whole experience was perfect. first direct had some issues sending me the transaction history but that wasn't directly to do with the switch. So if you're looking for a good bank, Virgin Money or Nationwide are your best bets (I believe you mentioned you were already with Nationwide so maybe sticking to them is the best option).

If you missed out on a switching incentive, definitely contact NatWest and submit a complaint. They should really know what they are doing, especially if they are promising a switching incentive. Plus, they are responsible for any lost funds under the Current Account Switch Guarantee so if you don't get anywhere with NatWest, report them to the ombudsman.