Natwest select account

[harrimav]

I am abut annoyed. Prior to IVA being accepted in oct I opened two natwest select accounts. These have been run successfully 5 months now . This week I just got text and emails saying welcome to your new basic accounts
So, after prolonged calls to various agents who hadn't a call why I had been changed, I eventually found out its because they had been notified of my IVA (by who...? I ask) so I had to go onto a basic account, I didn't even ask or want any overdraft on the select account just access to more cash machines as I work all over the place, !
Apparently , they had written to me but I have never had a letter !
Has anyone had the same experience?

[luluj]

I haven't heard of Natwest doing this before...HSBC and First Direct are known for it ..... I wouldn't worry too much as basic accounts are normally just as good as normL ones but without the cheque book. Does the Natwest account come with a debit card still ?

[harrimav]

Yes, there is a debit card but bit sure who would have "told them"!!

[Shining]

They may have begun trawling the insolvency register as HSBC and First Direct do. I must admit I'm surprised as I've never had a problem with my accounts...having said that I wonder if my days of being with the Natwest are numbered?

[mattyboy]

Every month they get a feed from experian with each customers credit record and the IVA would show on that, a lot of banks do this now. Basically when they update the status of your account monthly they also check your credit file, the idea bing that they can see if a customer poses an increased risk.

[winter_blues]

Very strange and the first I've heard of this from Natwest.

I actually upgraded to a Select Silver account during the 2nd year of my IVA. Fingers crossed! .

[tj40]

I'm with Natwest and have been for the 5 years my IVA has been running. I only ever had the basic bank account but when the changes came into place limiting which cash machines you could use i went into my branch and now have a select account with no overdraft. Could be worth trying a visit to your branch

[Shining]

I'm the same as tj40, had it for the duration of the IVA and feel a little guilty as I recommended this account to the OP.

[harrimav]

Don't worry Lesley , was gonna text you but know you've had you your daughter home x I will speak to the branch in a couple of months and see what happens. Will call you soon xc

[Shining]

Thanks, she's gone back now until reading week in February x

[mattyboy]

The no using other banks could also be a blessing, planning money ahead and not being able to take out money on a whim, I know it's inconvenient but it might help in cutting back. Natwest seem to be reasonable otherwise. When you have 6 months banking behind you they may reconsider and you can always appeal the decision.

[Niobe]

I've not heard of this with any bank other than HSBC and First Direct and they actually close down the accounts not just change them

[harrimav]

I know , seems odd!! Want to stick to rules but not get rid of me, odd!!!

[Shining]

I cannot understand how to downgrade you from Select to Basic helps the only difference being you have to use their ATM's. It's not like you want or have an o/d. Odd, I just wonder if they'll do this to more customers as I have the Select Account.

[Foggy]

The cynic in me thinks it's an "anti-marketing ploy", Lesley.

They make no money from their basic account holders, so make it awkward for them in the hopes that they move elsewhere, without the bank having the stigma of throwing customers out when they are in difficulty.

Those on select accounts and above, once the bank realise they are not going to make money from them either ( due to IVA), are moved to the basic account, in the hopes that they, too, move elsewhere.

Crafty -- but I AM a cynic !!