Natwest closing accounts.....

[angiekaren]

What is the likelyhood of this if i was to make a claim?

 

I have a student account and a £1400 overdraft, if they were to close this and make me repay this immeadiatley, even with the £900 i am entitled to claim back i would be worse of financially.

 

I do not have a good enough credit score to open a new student account so could not simply transfer the overdraft.

 

Do you think its worth the risk? Advice needed!

[jamesbond]

hi...i have had my account closed by the natwest...firstly they are supposed to inform you giving you 30 days notice of account closure...in my case this was not received, but was informed a letter was sent to me. my account then became classed as a collection account, and any funds paid into the account were arrested and used to repay any over draft facilty you may have and any loan payments that are due, in my case they kept a month in advance for the loan repayment as well..

if you do not pay any funds into the account they cannot arrest them and are only able to make a formal demand for repayment of the overdraft, which you can make arrangements to do at your capability, which they are reasonably obliged to accept.

make sure you have another account open and any funds are transferred into that to ensure you are not left with no funds and can continue to have banking arrangements if needed..

dont let them abuse you and dont let them take your money..

[angiekaren]

From reading posts in this forum though, your accounts were not closed as a direct result of taking legal action were they?

[lipscombe]

Hi

My son had an overdraft of £500 but he was quite often over it in the last 18 mnths. We started proceedings and got paid last week. The chq was paid into the same account so overdraft is now paid off. They did write asking him for his card back but he told them the account was in dispute over unlawful charges & they said they would contact us again in 6 weeks. Thankfully the chq arrived before the 6 weeks was up.

 

Go get your charges back - it is your money!! good luck x

[annie100]

surely how the accounts were closed is not really the issue here...the help freely given shows only what could happen given that the account was closed and the proceedures that occurred following closure..if you do choose to reclaim charges and your account is closed, then surely being forwarned of any issues that may arise because of that closure is totally beneficial to you??

is this site not about helping each other and making each other aware of any pitfalls that may arise during any actions we choose to follow?

[angiekaren]

Annie100 - I was not being rude, i was just trying to work out the circumstances surrounding the closure of his accounts - if you read my first post, what i'm trying to do is work out the likelyhood of the bank closing my account if i take action!

 

My problem is, that if my account is closed from under me, even with the money i claim back i'll be asked to pay back a lot more money than i can afford, and as i'm at uni it could proove a problem - which is why i need to work out the likelyhood of this happening, as if it is high then claiming back my charges won't really benifit me at all.

 

Jamesbond sorry if you also thought this and thanks for sharing your experience, hope you get it all sorted.

 

Lipscombe - thanks for your advice, glad you and your son had a good outcome!

[jamesbond]

not a problem and hope you get sorted...surely if you have a 1400 odraft that is at its limit and you reclaim your charges from the bank for 900 that will only leave a debt of 500? this must be a better position?

[blacksheep1979]

not if the bank then takes away the overdraft facility - she will actually be (spendwise) £500 down

[Guest NATTIE]

I have yet to hear of account closures directly related to claiming charges back

[angiekaren]

not a problem and hope you get sorted...surely if you have a 1400 odraft that is at its limit and you reclaim your charges from the bank for 900 that will only leave a debt of 500? this must be a better position?

 

Nope - because its a student account, this overdraft is free for me while i'm at uni and i don't need to start paying it back for two years yet, its not like a 'normal' overdraft, and if they remove the overdraft then i will have to find hundreds of pounds to pay the debt off, when i only have my student loan and a part time job - its just not feasable!

[angiekaren]

I have yet to hear of account closures directly related to claiming charges back

 

Thanks - that was exactly what i needed to know!

 

(what do account closures tend to relate to then?)

[Guest NATTIE]

sorry for this one, bad debt is one of them. Court ordered, known fraudster(if account opened at all, dubious activity, dormancy and customer request.

[Ropey]

I'd like to bring this thread back up for a little advice. My brother will be getting on to NatWest for his money back soon, he's just about to send in his SAR.

 

He has an agreed overdraft and a loan with them, what chance is it that they will be closed and defaulted and at what stage of claim?

 

The loan is a separate agreement and should be okay but I've heard bad things about the shirtiness of Natwest.

[cheddar]

Ropey you need to start a new thread on behalf of your brother if you want to have people help you. As stated in this thread there have been little or no incidences where people have had a Natwest account close purely due to claiming of charges.

 

As for loans these are totally separate from a bank account and will have no bearing on claiming bank account charges back.