NatWest shut down all of my Bank Accounts – What Can I do?

Reply to the comment left by Beaver at 09/08/2022 - 15:34
Thanks Beaver - No one gives an address to contact but I have a solicitor on it once patience runs out. He says that once we issue an injunction it all may take a while to sort - he hopes that this will all come to a head sooner rather than later but I am not so sure -------

I am surprised that NatWest are contacting you. If all your accounts with them are now closed and don't exist (according to them) then you are effectively no longer a customer of Natwest. Surely any request for funds from a third party should be referred back to that party with "No such account exists" or something similar?

The fact that Natwest are writing to you is proof that, until recently, there were accounts in your name that serviced these payment requests. Do you have bank statements, records of direct debits, etc that reference these accounts?

Another "test" you can apply is to attempt to pay in a cheque from another account payable to yourself to the Nat West account. Keep a record!
Ask why the account was NOT SUSPENDED pending investigation rather than the draconian measure of closure.
Also, make the NatWest aware of(in writing) that you intend to recover damages including the legal costs incurred in the matter.
A timely warning about Ombudsmen and other institutions that will conspire against you in protection of the banks and other service providers. Their function is to protect the interests of those they protect and in this case, as indeed with almost all others is not yours.
Do factor that in as well.
With very best wishes.
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Reply to the comment left by Keith Owen at 11/08/2022 - 17:46
Hi Keith - We have statements etc but as the accounts have been 'closed' I cannot access statements currently. I have a one line letter stating that the accounts are 'non-operational' Seems the other letters about bounced payments are automatically sent by a computer. Somehow banks use that excuse (like everyone else on the planet) as if it means they dont have to take any responsibility for what the computer does.

Reply to the comment left by Carchester at 13/08/2022 - 07:37
Good morning Carchester,
I have a one line letter stating that the accounts are 'non-operational' I have been told that nothing can be paid in to my accounts or out. I lodged a complaint to the FOS last week but have had no reply. I keep telling the complaints department at NW that my complaint isnt settled and I look forward to their response to a range of questions. Will keep this channel updated with any developments.

Reply to the comment left by Dylan Morris at 08/08/2022 - 20:32
Lol, Yes its definitely going that way, perhaps we should warn him of the possibly of the thought police knocking on his door next!

Reply to the comment left by john thompson at 13/08/2022 - 08:32
Yes, fully agree with both comments. But if something has made them concerned, why not just ask the questions - even now after seizing our money you would have thought that they would say something.

Reply to the comment left by Colin Massey at 13/08/2022 - 08:15Ah, shame. I always print off an online statements every quarter, just in case.
Regarding the computer - sorry I just don't believe NatWest on that. I've worked in IT for 35 years...there's no way they would have a system that would print and post letters to an owner of an account that doesn't exist.
Think about it...a DD comes in to Natwest, referencing a sortcode and account. If the computer can't find that account (ie account doesn't exist) the computer will reject it and that's the end of - what else can they do? It's not there, no-one to pay the DD.
If the DD comes in referencing an account that exists, but has insufficient funds, then they will reject it, and print a letter to be sent to the account owner (probably charging £30 for the privilege).
So it sounds like in your case its the second of these. These systems are keyed off a unique sortcode/account. How can they have a name and an address associated to an account that doesn't exist? If they are sending YOU a letter, then they have YOUR name and YOUR address associated to that unique sortcode/account. Therefore the account DOES (or at least did) exist within rhe Natwest systems.
So, given that the account does/did exist, I would ask Natwest why they are claiming it was closed. I see one of three possibilities:
1) Closed at the request of the account holder(s). Ask to see the letter from the account holder(s) giving the authority to close it. If they can't provide that, they are at fault and I would take legal advice.
2) Natwest closed it. Ask them why, for what reasons, and how/when they attempted to contact the account holder to inform them. If they can't provide that, they are at fault and I would take legal advice.
3) A third party closed it. Ask to see the letter giving authority to close it, and ask them why they accepted that authority, and why their security/identification systems are so lax. If they can't provide that, they are at fault and I would take legal advice.
Too often the banks fob people off with bullshit excuses from their standard process. If you're still dealing with your local branch, you'll never get the true story. I doubt anyone in your local branch even knows what happened.
You need to get them to take you seriously and that *in my experience) means legal action. I would inform Natwest head office in writing of everything that's happened so far, and tell them you are taking legal action to recover your money, and any costs you incur in doing so, unless they respond in 2 weeks.
I had similar issues with Nationwide about "unpaid" mortgage payments and I got nowhere until I sent a letter via a solicitor. It's amazing how fast the "missing" payments were found, and apologies and compensation issued.

Reply to the comment left by Keith Owen at 13/08/2022 - 16:04Hi Keith - thanks for your very detailed message. Their position from top of complaints departments (yes, there seems to be more than one) is that the accounts are 'suspended' and currently non operational!
Anyway the latest news is that completely out of the blue my accounts have all been restored to where they were. I received an e-mail at 1pm today to say there was a message on my account and to log in. This was all frozen before so i knew something had happened. And sure enough the accounts were all there and working. I have transferred money out while i had the chance.
And the message? A letter of explanation? No. A copy of a letter sent this morning stating that they had rejected a £13 DD due to lack of funds and advising me of the penalty for making payments with no funds in the account!
You would just never believe it would you?

Reply to the comment left by Colin Massey at 13/08/2022 - 17:54
Great news that your account has been restored. Sadly, though you won't be the last victim of the banks being footlose and fancy-free with peoples livelihoods. Here's an article that sheds some light on what's happening and what can be done about it. Personally, I think it's disgraceful that these institutions are allowed to abrogate their responsibilities to computers and algorithms without any comeback.

https://www.mirror.co.uk/money/banks-suddenly-freeze-accounts-your-24655584