Suddenly the unbanked!!

[Mudball]

Been with our bank for over 20 years .. and now got a letter saying 'bank has decided to close relationship with you'.... no reason given and this is part of T&Cs... Completely out of the blue ... Called them and the lovely lady was very helpful, but said I cannot give you a reason, but i can take a complaint. So bank accounts and credit cards all gone. Natwest did to me what Coutts (same group) did to Nigel.

I am at my wits end to figure this out.. Given the duration of our relationship, i dont even know where our bank details are registered - old pensions, dividents, charities

We have a month to move.

 

[PJ87]

Been with our bank for over 20 years .. and now got a letter saying 'bank has decided to close relationship with you'.... no reason given and this is part of T&Cs... Completely out of the blue ... Called them and the lovely lady was very helpful, but said I cannot give you a reason, but i can take a complaint. So bank accounts and credit cards all gone. Natwest did to me what Coutts (same group) did to Nigel.

I am at my wits end to figure this out.. Given the duration of our relationship, i dont even know where our bank details are registered - old pensions, dividents, charities

We have a month to move.

Sign up to a bank that moves your current account for you .. move as much money as you can to that first then do the switch .. some pay you to switch and then it will happen within 7 days they take care of everything for you , if your account is still live that is

They will move all direct debits over

They will forward the money

They will forward incoming money for 3 years

 

[Mudball]

Sign up to a bank that moves your current account for you .. move as much money as you can to that first then do the switch .. some pay you to switch and then it will happen within 7 days they take care of everything for you , if your account is still live that is

They will move all direct debits over

They will forward the money

They will forward incoming money for 3 years

i agree.. just in a bit of shock at the moment.. pardon the phrase.. total sh*thousary

 

[GB72]

It is all a bit scary I am sure.

Had a quick google and, whilst they can do it for no reason, most of the reasons that they apply suggest they think you have done something, broken the terms and conditions etc so hopefully you will find out that their reasoning was.

 

[Fade and Die]

i agree.. just in a bit of shock at the moment.. pardon the phrase.. total sh*thousary

I imagine its terrifying! Is it your main current account, and how much notice have they given you before its closed?

 

[Fade and Die]

It is all a bit scary I am sure.

Had a quick google and, whilst they can do it for no reason, most of the reasons that they apply suggest they think you have done something, broken the terms and conditions etc so hopefully you will find out that their reasoning was.

Maybe he's a "Disingenuous Grifter" ?

Farage dubbed a 'racist', 'xenophobic' and 'disingenuous grifter' in leaked Coutts memo

The former Ukip leader said he obtained a report by the prestigious private bank’s reputational risk committee.

www.thelondoneconomic.com

 

[clubchamp98]

If you’re a good customer who pays all your bills on time, pays the credit card off in time, no overdraft .
They are not making any money from you in interest.
But they provide you with free banking.

This happened to a mate of mine and should be made illegal until they give you a reason!

 

[Mudball]

I imagine its terrifying! Is it your main current account, and how much notice have they given you before its closed?

If you’re a good customer who pays all your bills on time, pays the credit card off in time, no overdraft .
They are not making any money from you in interest.
But they provide you with free banking.

This happened to a mate of mine and should be made illegal until they give you a reason!

Yes, it is our primary account and linked to all our incomings and outgoings.. Its hits all of our accounts and credit cards with them.

In the 20 years, never been delinquent. there has been an odd case where i might have forgotten to pay a credit card bill. I agree they probably dont make any money on us.

 

[clubchamp98]

Yes, it is our primary account and linked to all our incomings and outgoings.. Its hits all of our accounts and credit cards with them.

In the 20 years, never been delinquent. there has been an odd case where i might have forgotten to pay a credit card bill. I agree they probably dont make any money on us.

Yep they are weeding out the safe customers who they don’t make any money on.

Have they sent you an email offering you a loan every week for 20+ yrs.?

You have probably been identified by an algorithm as non profit making.

 

[Mudball]

Yep they are weeding out the safe customers who they don’t make any money on.

Have they sent you an email offering you a loan every week for 20+ yrs.?

You have probably been identified by an algorithm as non profit making.

 

[IanM]

Ring Nationwide. They'll sort you out, better service and cheaper than Nat West.

 

[Mudball]

Ring Nationwide. They'll sort you out, better service and cheaper than Nat West.

I looked at all the big guys - Santander, HSBC, Barclays... but looks like it will come down to Lloyds and Nationwide. Funny i never considered Nationwide as a 'full bank' rather a building soc.
lloyds offering £175 to switch - which should pay for thier first year of fees.

 

[bobmac]

I was with Nat West for 20 years and at one point, I needed an £18k bridging loan for a house purchase.
I was refused.
So I went 70 yards down the road to Barclay's bank and agreed terms in about 10 mins.
When my house sale went through and the money was in the Nat West account, I went to take it out to pay off the bridging loan.
They said don't worry, we will transfer it for you......that will be £25 please.
They weren't very happy but finally gave me the £18k in cash which I ran the 70 yards down the road to Barclays and paid off my bridging loan
I closed my Nat West account the following week.
24 years later, Nat West branch is now Prestige nursing care and the Barclays branch is ''to let''
I'm still with Halifax today

 

[Lord Tyrion]

@Mudball have a look at First Direct. We have been with them for a very long time, must be 25 odd years. Great to deal with, consistently rank well in satisfaction surveys.

 

[spongebob59]

https://www.moneysavingexpert.com/banking/compare-best-bank-accounts/

 

[Mudball]

@Mudball have a look at First Direct. We have been with them for a very long time, must be 25 odd years. Great to deal with, consistently rank well in satisfaction surveys.

https://www.moneysavingexpert.com/banking/compare-best-bank-accounts/

firstDirec was one of my shortlist... i m looking for someone that does a package like travel + mobile + xx . Currently Brclay, nationwide and llyods are in the race. from MSE, Barclay and llyods give switching money too!!!

 

[Neilds]

firstDirec was one of my shortlist... i m looking for someone that does a package like travel + mobile + xx . Currently Brclay, nationwide and llyods are in the race. from MSE, Barclay and llyods give switching money too!!!

Be careful with Barclays, they are changing the things they give you for the Rewards account in September so may be changing some of the other accounts as well.

 

[rulefan]

@Mudball have a look at First Direct. We have been with them for a very long time, must be 25 odd years. Great to deal with, consistently rank well in satisfaction surveys.

The only downside is that they are part of HSBC but agree they do well in surveys

 

[rulefan]

firstDirec was one of my shortlist... i m looking for someone that does a package like travel + mobile + xx . Currently Brclay, nationwide and llyods are in the race. from MSE, Barclay and llyods give switching money too!!!

I can recommend Nationwide for their service and the add-ons. Travel Ins, Breakdown ....

 

[Mudball]

The only downside is that they are part of HSBC but agree they do well in surveys

I also notice that most of them have any branches in our area either.. (and i live in the commuter belt) , (unrelated to my case) My local Natwest is closing this month.