www.iva.co.uk

One year in and Natwest have downgraded my account to Basic. Received an email this morning welcoming me to my new account. Had no communication before to advise me cheers Natwest good job email didn't go into spam! I paid for my account as had breakdown cover!! [?]

Hi

Did they say why they had downgraded ? They have probably checked the insolvency register

Regards

We have been with NatWest for 2 and half years, have select account never had any problems, hope I am not tempting fate as we have just completed 3 years early with F &F and should come off register within next 3 months

No I haven't had anything off them to say they were downgrading just email yesterday saying welcome to your basic account. I opened the account year last April and my IVA approved last June. We have only just gone on insolvency register. Always been good with my banking but suppose that doesn't matter. I replaced my daughters phone last week on the mobile cover I had with the account. Glad I did it immediately now.

Seems odd that you have only just gone onto the insolvency register even though the IVA was approved last June. What caused the delay?

I opened a current account with NatWest just before IVA started, they haven't downgraded me, perhaps I've just been lucky. I will be not happy if they decide to downgrade me now as I am waiting for my completion certificate

Not sure, I had been hounded by creditor and they kept telling me I wasn't on register. I looked and couldn't find myself. So contacted Grant Thornton who then emailed to say that this would be sorted. I checked the other week my husband was on there but still couldn't find me.

Not happy about being downgraded though especially as they have done it and not communicated it to me!!

The exact thing happened to me, I had a select account opened pre IVA, then 2 months into my IVA out of the blue received an email stating welcome to my new account. I received a written letter stating they had received notice from the Insolvency Service that I had entered into an IVA and because of that the bank could only offer me the basic account. I wasn't happy either.

This is disturbing to read, as NatWest have historically been one of the most supportive banks for people in IVAs.

I agree Melanie, I've always been with NatWest and enjoyed banking with them to be fair. I know I'm out of my IVA now but was hoping they'll upgrade my card from blue to purple in due course.

We opened natwest select account and moved all DD before entering our IVA. Within a few weeks of our iva being approved we were also downgraded to basic. No warning just received a letter 'welcome to your new account'. Phoned up to question why and was told might be due to our credit rating. I Presume they checked register. Was gutted and thought it would be awful to have such a limited account...you can only withdraw cash from natwest/tesco atm for example, and no 'extras' like phone insurance, but to honest weve had it nearly 18 months now and never had any problem with the account. Their mobile app is great and really useful.

My new cards came today. Is there a need to declare basic! !!!

I have one as well but I am proud of it and gloat to people that I don't believe in paying for a bank account and that the extras you get with a paid account are no good to us, as hubby has a medical condition so the travel insurance is useless, we dont have a car so the breakdown cover etc is not relevant and the phone ins is covered by house ins. So why pay extra for stuff we could never use. I must be convincing as one of my friends who does not know about the IVA has downgraded hers deliberatly after us chatting about it lol.
Turn a negative into a positive is my motto lol

We opened a Natwest Basic joint account just before our IVA's were set up so have had it for nearly 2 years now. No problems with them and in fact we have also now got another cheque book account with them (non-paying) which is sometimes useful. The Basic Account does everything we need (with no overdraft obviously) although sometimes not being able to use the card at Pay At Pump at Tesco or in non-Natwest/RBS ATM's can be a bit awkward.

Hi,

I went to Barclays recently for a cashcard account. They offer "add-ons" for all accounts even the basic that covers breakdown etc...

You might try them. I told them I was in an IVA and they were fine about it.