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

Reply to the comment left by Y Lana at 13/08/2022 - 18:17
Thanks for the link - very interesting article. And I am under no illusion that my case is over. Let's see what next week brings.

Reply to the comment left by Colin Massey at 13/08/2022 - 17:54Unfortunately I would believe it. I have bank accounts in UK, Germany and USA, and all of them provide appalling service (so it's a banking industry thing rather than a UK thing, in my experience).
Anyway, I'm glad to hear your accounts have been restored and you have access to your money again. I would like to think that, now you've transferred your money to a different bank, your problems are over, but they're all as bad as one another! It's a lottery, but with your money!
Print those statements regularly, keep copies of everything, and pray to the banking gods 😂

Reply to the comment left by Keith Owen at 13/08/2022 - 19:07
Thanks for your wise words Keith! Banks, like many estate agents and solicitors, take inefficiency and negligence to new highs and it becomes an art form. Incompetence cannot come naturally to many of these people - they must have passed a degree course in it or something to be as bad as they are!

NatWest have a huge team if people checking that all accounts meet the current financial regulation requirements as the legislation changed and they were caught with their pants down. We are a conveyancing solicitors and our accounts were frozen because not all the directors information was registered correctly agai at our accounts. You should have had some warning emails or letters but to be fair they are not that explicit just asking for information to be completed. Without thistgeirlast resort is to freeze the account

Reply to the comment left by Marie at 15/08/2022 - 12:35
Thanks for the feedback Marie

This has happened to our small residents association company.

Account suspended for no reason on July 21. We provided all information they required but we're told in an e mail on September 11 they were closing the account and had not heard anything since. I keep going around their phone system but all they will say is the account is " in suspense" and nothing can be done until I receive the "official letter" which I have been waiting over a month for....
From other groups they say that it is unlikely that they will release the balance for 60+ days after the letter..

Check out a Facebook group "NatWest closed my account".

There are about 8000 in the same boat.

Does anybody know a legal firm to maybe get a class action suit going?

Steve Barnes

Reply to the comment left by Steve Barnes at 07/10/2022 - 14:04
When this happened to me I tried every avenue to get a response and received a letter that stated that the accounts were non-operational at that time and they would 'revert. Every time I respond or query anything they just send the same letter through.The letter also stated that the Bank had the right to take the action they had under clause 5.3 of their T's and C's. This says they do not need to supply any reason for doing what they do and they had complied with their regulatory process. The clause states that they have to have good reason for suspending accounts but they don't have to tell anyone what these 'good reasons' are. Anyway after one week and umpteen direct debits bounced the money was all reinstated. I understand this happens a lot. The case is with the ombudsman currently but I don't hold out much hope. They are likely to state that the Bank operated within its own rules. I consulted a specialist solicitor who said in effect that there was no legal case as NW had complied with it's own T's and C's which its customers agree to when opening accounts. Does this make it right? Of course not! Where are the checks and balances? It seems that they do this a lot under the front that they are being hard on suspected fraud and money laundering. They do need taking to task and holding to account and via MP's may be one way? Or loads of reports on social media or press generally? I will provide an update once I receive the ombudsman's verdict.

This has also happened to at least 3 of my friends.

One a small businesses another shooting club and another hockey club.

There seems to be a definite pattern. They even provide their customer complaints handlers incorrect information. I was told to contact the "exit" department and he gave me a phone number they were provided. That went through to Commercial Compliance and they said they knew nothing about it and gave me another number that I recognized as the Business Profile people who started it in the first place.

When I called the complaint guy back he then tried and confirmed that they had an incorrect number given to them.

If the staff don't know what hope is there for the poor customer?

Reply to the comment left by Carchester at 13/08/2022 - 07:37
I can remember a lady on my Facebook ( forgot her name) about a decade ago always posting how natwest had robbed her account of 80k and closed it on her she got it in papers and it showed that the judge said yes Natwest had messed up on this womans money. But he let Natwest off with having to give her her 80k back!!! Absolutely gobsmacking. The fact she coukd only get story into paper and not main stream news says how corrupt our country is. Ever since more & more ive seen stories of natwest closing accounts on the spot that have money in. Which worries me. Other month I found out they closed my then 15year olds ( who doesn't live with me) account on her on spot so she's not got her money back & tried accuse her of fraud. Ive now today had a letter saying ( it only has my name 0n letter) theyre severing ties with us & closing account thats a ITF ( in trust for) savers account that was going to be my daughters. Giving no explanation at all. Its got me worried about my own account I have with them now that has my wages paid in but also debits sent out. Luckily I set up a account with another bank couple years back but ive now just opened another with someone else aswell as dont feel secure now anymore.. im going to shift everything from natwest now before they steal my money. They're customer service is horrendous anyway. You always gave to go further to complaints

I’m going through it now with NatWest, they closed my accounts 5 days before Christmas with no warming what so ever. They left me without any access to my money with a 3 month old baby. And even now I’ve had no explanation as to why this has happened. And what’s worse is for some reason I can’t open another account with any bank and don’t know why? I’m so confused to what I have done wrong, I pay my bills on time and not missed any payments.