Natwest are closing my account after 27 years......
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To me the customer and bank relationship has just broken down. There appears to be mistrust on both sides hence the reason the account to be closed.0
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I have also been with NatWest since 1990,just got an email today regarding changes in Jan2018,no problem with that !!but in second paragraph they state," if you are not happy feel free to close account,although we will be sorry to see you leave??" Is this professional??0
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Gordon1234 wrote: »Is this professional??
Yes, absolutely.0 -
Gordon1234 wrote: »I have also been with NatWest since 1990,just got an email today regarding changes in Jan2018,no problem with that !!but in second paragraph they state," if you are not happy feel free to close account,although we will be sorry to see you leave??" Is this professional??
What would you prefer them to say - "if you are not happy tough !!!!!! you're stuck with us anyway" ?0 -
I understand that, if you don’t have a lot of dealings with you bank(s), that this statement may seem rather terse. But, in effect, what they are saying is “We are changing/being forced to change the T&C’s which govern our relationship with our customers. Obviously our customers have to agree to, and adhere to, these changes, but we cannot alter them to suit individuals. If you disagree with our new T&C’s, please feel free to close your account and look for an alternative”.Gordon1234 wrote: »I have also been with NatWest since 1990,just got an email today regarding changes in Jan2018,no problem with that !!but in second paragraph they state," if you are not happy feel free to close account,although we will be sorry to see you leave??" Is this professional??I came into this world with nothing and I've got most of it left.0 -
Move to nationwide , if you have a friend who has an account you both get £100 for being referred (ignore PMs from member here) or Marks and Spencer Bank
Both UK based call centres
Nationwide is easier as you can go in branch with your ID
Not sure if this is against the rules, but I'm with Nationwide if you don't know anyone personally.
I quite like them. They're probably one of the only companies I've ever dealt with who I have no complaints about so I'd recommend them.0 -
As a follow up I never resolved this - Natwest closed my account with no explanation and I moved to the Co-Op.
My local Natwest Branch - literally a 5 minute walk from my house closed down a few months ago - so now I pay into my co-op bank account using the local post office which is 2 min walk way.
I personally wouldn't use/recommend Natwest to anybody ever.
Dave0 -
Seems a sad state of affairs after 27 years - but with branches closing down all over the country - bad reports in the press of how NATWEST et al have behaved towards its customers then its probably for the best.
Good move to get away from them anyway when you can get accounts with other banks that pay decent interest (3% for Tesco) or Nationwide.Remember the saying: if it looks too good to be true it almost certainly is.0 -
Re-igniting an old thread here, but this has also happened to me after returning from a business trip in the US. While reading this thread there are some assumptions(?) or suggestions around money laundering, break-down in the relationship, suspicion of fraud, etc.
Unfortunately, the letter you get does not show any empathy, sympathy and makes you feel like a criminal. As if you have undertaken some gross acts in transactions.
It is rather matter-of-fact:We assure that we have only reached this decision after careful consideration, however, our decision is final and we are not prepared to enter into any discussion in relation to it.
I haven't the foggiest as to what I may have done wrong. Even when calling them their template response isWe are not legally obliged to tell you.
Of course, it's part of their agreement when you sign up that they can do this without having to tell you anything. If you press on and tell them that there's no law to stop them, it's the same response. Even if you tell them how it makes you feel (criminalised) and that it's been your only bank for umpteen years, the same response is given.
It is hard to imagine that after all these years of loyalty (almost 20) you are thrown to the kerb on, what appears to be, a whim.
Now, I'm having sleepless nights and trying to decide on an alternative bank. Thanks to others for their suggestions. The branch closures are not helpful either.
The real kicker is
If the next bank asks why are you transferring, I don't have an answer. Can't exactly lie, can I?We will not be able to provide references for you.
There's nothing to stop the next bank on doing the same thing, right? What if you go through the circus of switching accounts, then you're left with an unknown bank? How would the government protect us?
In parallel, I have raised a complaint demanding an explanation on ethical grounds. Have no idea if that will work. But will wait and see what happens there.0 -
Don't have sleepless nights, just get on an open a new account. If you aren't sure which bank, write the names on pieces of paper and pick one out of a hat. Or a slightly more scientific approach might be to pick Nationwide, as anecdotally they seem less fussy than many when opening new current accounts.ShahedShah wrote: »Now, I'm having sleepless nights and trying to decide on an alternative bank. Thanks to others for their suggestions. The branch closures are not helpful either.
The real kicker is If the next bank asks why are you transferring, I don't have an answer. Can't exactly lie, can I?
You could do this tonight, before going to bed, and there are many very good reasons why doing so ASAP would be a good idea.
I've never been asked by a bank for 'references', nor have I been asked to give a reason for switching. If I were asked, I'd say "poor customer service". In your case nobody could say that was a 'lie' could they?
What does matter is your credit history and whether or not you have any Cifas markers against your name. You might want to check your credit files before applying for the new account, but then again you might not.
And personally I wouldn't use the switching service to transfer to the new account. I'd just simply open an account and transfer over all incoming and outgoing payments manually. Good luck."In the future, everyone will be rich for 15 minutes"0
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