NatWest closed our account

[Shining]

I think the banks are independant in their thinking when closing/downgrading accounts. Infuriates me that we are discriminated against.

[12 months to go]

MrsKnight

i think whilst it leaves a bitter taste in your mouth, the proactive action you are taking will put your mind at rest. If you really like banking with Lloyds, maybe leave £1 in your account and leave it open, so you could revert back to them in the future when you are free of your IVA

Pat yourself on the back for the action you are taking

[Heretoday]

If your account is closed at short notice and you are not able to sort out your standing orders and direct debits quickly then you could end up with late payments to companies that report to the credit agencies.

This could leave a black mark on you credit file for the next 6 Years from now and not just from the date your IVA was agreed!

[Skippy]

I was under the impression banks had to give at least 30 days notice before they closed an account.

[Foggy]

That might be so, Skippy, but remember our poster from a couple of weeks back, who was left with no food over the weekend as the account had been arbitrarily frozen, without notice, because of the IVA.

[Skippy]

That's true. I know they can freeze the account - I was lucky, when I went BR mine wasn't frozen and ironically I was with Lloyds! I thought closing it was a different matter though.

[Shining]

It's a bit mean to close it without notice due to DD for housing whether it be mortgage or rent and utilities as they could all be affected if not paid.

[esgt1967]

I really can't believe it is legal for a bank to close your account if you haven't breached any of the terms/conditions. Natwest ask if you have been declared bankrupt in last 6 years on their personal opening account (and the legal answer to this is No) so therefore according to their Terms & Conditions, if we conduct our account well (and there are no unpaid direct debits or anything), I fail to see on what legal grounds they can close my account. If they did try this, I would take my complaint as far as possible. I really hate banks!!

[ginger323232]

Unfortunately there is NO LEGAL RIGHT for a bank to offer or continue a service - and they are free to withdraw it anytime - However Banking Codes indicate that there should be a minimal amount of time they should give you before they withdraw their services - to allow you to make alternative arrangments

[Foggy]

They need no legal grounds, as far as I can see they are free to chose who they take on as customers. I imagine there is some clause in their volumous small print !!!

[Skippy]

As far as I can see it's the same as any other service industry - they are free to choose who they accept as their customers.

[ginger323232]

You could follow the bank complaint procedure, then on to the Financial Ombudsman, but this could take months. Truthfully would you want to stay with a bank under those condition!! -

[winter_blues]

It's despicable after what we have had to endure over the years from these bankers .

Dishonesty over PPI
Over selling of other insurance and current accounts
Borrowing and lending practices that were at best unwise.
Massive bonuses and profits whilst the customers were screwed for the last penny .....

Need I go on.....and NOW they take this approach . You couldn't make it up

[lin.r]

To be honest,won't miss anything about them,just wish that they had been honest at the onset of our IVA.they told us we could keep our account,then,two months down the line they leave us high and dry with two payments due to come out at the beginning of this coming week that are going to bounce!
We've got a small shop,obviously not big enough business for NatWest and with an IVA aswell,well we truly are worthless to them!!
They even charged us for paying in cash into their branch!!
Good riddance.

[tonyranks]

did you say complaint, i am dealing with natwest complaint department now, they are out of order
my iva will be of my credit file in two days...hoooray
and only natwest has not put the default date back to date of iva, i have been complaining from june last year, every other creditor, even max recovery, they have changed info on credit files and removed the default date all together, and blame it on a bank letter, I even have a letter from them say they are sorry and paid me 50 pounds for my trouble and still have not changed the info, so in two days every default will drop of apart from natwest. I dont like them ..all three credit agencies have different info, and they have updated stuff after the iva completed, I am sure they are doing it on purpose.