Oh b*****!!!
Husbands had an email today saying welcome to your basic account.
He thinks its spam but as i know some others on here have been downgraded I think theyve found out about the iva and doengraded our account.
Can they just do that or do they need to write and inform properly?
Will account numbers change meaning have to move DD again?? Ive not had anything from them.
We went with the select account as can use any ATM which is convenient with work or being away and no meed to find a branch. we dont have OD or chequebook so we thought it met the iva criteria.
Is there anything we can do to keep existing account or not??
We opened account in december when planning to do iva. managing it well. I know theyve downgraded a few people on here but hoped we'd escape bit longer!
Ive read their T&Cs.
7.3.1 says they can convert account if reason to do so but must give not less than 60 days notice. If hubby received email today saying 'welcome to new basic account' thats not 60 days notice and if iva is the reason we only had it agreed less than a month ago so they arent abiding by their T&Cs are they??
Had the letter today about downgrading.
They said as its decided by credit score now iva is running we no longer meet requirements for select account. They dont need to give notice for downgrading in those situations they can do it instantly.
We will now only be able to use natwest/rbs atm which is not convenient as branch is in the town. We will just have to withdraw more cash at a time to save frequent trips into town.
Hi Abbiesmum , we had normal current account with Natwest ( no over draft ), we opened just before entering into iva in Nov 2012, alls been fine untill last week we received a letter ( NOT E MAIL ) from them telling us they were downgrading us to Basic account because they know we are in an iva now . The only change i think is we have received new debit cards ( same pass number )what we can still use in shops as usual , but can only withdraw cash from natwest / RBS atm machines . Tesco have RBS out side usually and i think you can get cash back in shops if you are shopping . All direct debits etc all same .Hope this helps you .
Another example of the debasing of customers because of IVAs.I don't think there are any more IVA friendly banks or Bankrupt friendly Banks anymore.
I have seen the NW BB Card concerned...I still hold the blue debit card for now. The card has the words BASIC BANK ACCOUNT...so everyone can see that if you had it out. I am sure it is great self publicity, thanks Natwest.
You have to ask the question -
'In the light of the sever economic downturn,caused by the Banks, is it right then for the Banks to only welcome customers with money and everyone else can go else where for Bank account as you are not welcomed or get a Basic bank account'
???
Last edited by nonewdebt on Wed May 01, 2013 3:07 pm, edited 1 time in total.
Hmmmm...love to know how they are working through this. Are they selecting randomly or trawling the insolvency register?...anyone work for Natwest? Or RBS?.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by abbiesmum2003
my letter says the IR has informed them that ive entered an iva and only account im allowed is basic one.
I somehow doubt the IR are allowed to tell them -- this is a breach of data protection! And you are allowed whatever account the bank will give you -- just no overdraft facility. They are telling porkies!
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I've always had the Basic account like I said earlier and it's never had Basic written on it, it is blue and not purple like the full card but that as far I can tell is the only difference to mine...but again things change so I wonder if the card has?
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Crikey, this is awful! What with some posters being told to sell their homes, others having extended IVAs with no end in sight, some waiting for closure 2 years following final payments and banks not offering mortgages if you have EVER been in an IVA I'm thinking what's the difference in going for an IVA or bankruptcy!!! At least with BR it ends when it says it ends!!
I have a basic account with Natwest, it does have basic written on the card but it isn't huge and it never bothers me, in fact I joke about how i prefer a basic account as I dont have to pay for it and will have any account with no fees, it is amazing the amount of people who agree with me when I say it.
Last edited by Pandy on Thu May 02, 2013 5:51 pm, edited 1 time in total.
If life is what you make it, I must have been in a strange mood when I made mine
