NatWest: seven years of statements in online banking

jamesd

NatWest has announced in its revised current account terms that seven years of statement transactions will soon be available to people using online banking.

They caution that if a sole person account is converted to a joint account the new joint account holder will be able to see the transactions from before they became an account holder. They recommend opening a new joint account instead of changing a sole account to a joint account.

This may make doing subject data requests for bank charge claims unnecessary and will be convenient for anyone who needs to look at old records for any other reason, like taxes.

Nixxx

Thanks for this, i've been thinking of stopping my posted statements. Any idea what date it will become effective?

somnerd13

So when this comes into force will I be able to see statements from years ago? Or will it start from the most recent?

eso_3

jamesd wrote: »

NatWest has announced in its revised current account terms that seven years of statement transactions will soon be available to people using online banking.

They caution that if a sole person account is converted to a joint account the new joint account holder will be able to see the transactions from before they became an account holder. They recommend opening a new joint account instead of changing a sole account to a joint account.

This may make doing subject data requests for bank charge claims unnecessary and will be convenient for anyone who needs to look at old records for any other reason, like taxes.

I'm really pleased about this if it's true, but can I ask where you got this info from? I can't find anything about it on the NatWest website and nothing shows up in Google either (apart from this thread).

poppy_f1

i hope rbs copy this

natweststaffmember

The information is 100% correct and there will be a change to the terms and conditions mailed out to customers from last week onwards. Some changes take effect from 11th September and some from 1st October this year.

natweststaffmember

Just a little correction to JamesD. With regards to Subject Access Requests, statements has NEVER BEEN a SAR. The data within all relevant filing systems should be sent to the customer. Anyone confusing 6 years statements for a SAR needs to read the Data Protection Act again rather than this repetitive myth about statements and SAR.

jamesd

eso, see the notices in online banking.

natweststaffmember, thanks for the additional details. It seems that NatWest is doing pretty much the best that can reasonably be expected and desired.

You're right that statements are not required to fulfill a SAR, which is why I carefully chose my words when writing that "This may make doing subject data requests for bank charge claims unnecessary". Means only that you won't need a SAR to get transaction details that are available from statements, not that that a SAR requires statements.

A SAR can potentially provide much more than just transaction details, like notes on internal case handling decisions.

eso_3

jamesd wrote: »

eso, see the notices in online banking.

Hi. I couldn't find that notice on the Natwest online banking page, but when logging into my RBS account tonight I've discovered that it's now possible to view these "historic statements" with them, which I'm quite pleased about. Do you think it will still be until the 11th of September before you can do the same with Natwest, or maybe earlier?
Thanks.

jamesd

I don't have any more information about the schedule.

I did find that I have received a monthly statement for the first time in many years and that may be a side effect of this change that will lend up costing NatWest more and wasting some paper in my case. I suppose I'll find out whether I get accurate historic quarterly statements or some monthly representation of what I didn't actually receive.