Newbie and Confused!

[jo_24679]

Hi Everyone,

 

First of all I apologise for this post as you have probably had millions posted about the same subject.

 

I have only just heard of this and am a bit worried/wary/intrigued!

 

I bank with the Natwest and have done for 11 years. In that time I have been charged quite a few times.

Unfortunately I dont really keep up to date with my filing etc so cant go back and look through my statements to find out how much.

 

Anyway....I'm a bit concerned that Natwest will just close my account. Is this a possibility? Also if they do I'd have to pay my overdraft etc! ARGH!!

 

How do you know that these charges arent mentioned in your T&C's? (Not that I have any idea what they would be!!)

 

Is it all relatively easy or is it a lot of stress?

 

What is my first step? Sending the £10 for my statements?

 

Hopefully I'll get a reply from someone...I understand that the answers are probably all here on the site but its all a bit overwhelming!!!

 

Any advice anyone?!!

[stan5131]

Welcome to this forum where you will get lots of help from others who are already proceeding with their claims. The first step is to send you SAR request with your £10 and get your statements. There is only a very small chance that the bank would close your account. It is very rare and usually only happens if you exceed your overdraft limit. The best thing to do is open another account with a different branch just incase.

[jo_24679]

But I have exceeded my overdraft limit a few times!!!

 

Argh!! Even more worried now!!

[stan5131]

Is it over your agreed limit now? It doesnt matter about the past. When you start proceedings against them, they will be watching your account closely. They cant close your account because of something in the past, especially if it is running ok now.

[stan5131]

You should open a parachute account just incase. Just to be on the safe side. When you open a new account, your new bank should transfer your overdraft to them.

[stan5131]

Dont worry. We are all here to support you.

[jo_24679]

Hmmm...feeling scared!!!!

It isnt over the limit now - normally only happens for a day or two just before I get paid!

How easy is it to set up a new bank account with an automatic overdraft?!

 

Oh I hate banks and money!!!! Always makes me nervous!!!

 

So I should send the initial letter then?

[bigmama59]

If you read more on the forum before you start, it will all become a lot clearer what you have to do:) Step by step instructions is easy to follow

[Deller]

If I were you I would set up a parachute account first.

[muggins73]

Hmmm...feeling scared!!!!

It isnt over the limit now - normally only happens for a day or two just before I get paid!

How easy is it to set up a new bank account with an automatic overdraft?!

 

Oh I hate banks and money!!!! Always makes me nervous!!!

 

So I should send the initial letter then?

 

Hi there Jo,

I'm just like you, well sort of, I love money and simply hate banks!!!

Try not to worry too much, which at this stage is easier said then done. Take bigmamas advice and take the time out to read the step-by-step instructions, it'll be well worth it. The key is not to panic, we are all here and happy to help in anyway we can. At the end of the day it is your decision to take them on, but remember, you will follow in the footsteps of many others before you:cool:

 

I bank with Natwest and am currently over my arranged overdraft limit in one account owing approx £1,200. I also owe £1,000 in a second account and my partner owes £1,000 in his account, and I'm still taking them to court!!!!! The CAB has taken them on, on my behalf as a debt case. Natwest are in no hurry to close either of our accounts whilst we owe them money, I can tell you;)

 

I've just recently opened an account with the Abbey which was relatively easy to do. Seeing as though you are working and you obviously have a steady income there should be no worries in that dept. It's just a fail safe.

[natwesttookmymoney]

Hi, Jo

 

" I have only just heard of this and am a bit worried/wary/intrigued!"

We all were. Have a look at my thread (http://www.consumeractiongroup.co.uk/forum/natwest-bank/38229-natwesttookmymoney-natwest.html)

You'll see I go from nervous, to more confident, to assertive, to insufferably self-opinionated!

 

"Anyway....I'm a bit concerned that NatWest will just close my account. Is this a possibility? Also if they do I'd have to pay my overdraft etc! ARGH!!"

No, they won't shut your account. they're a bit more subtle than that: what they do is withdraw our cheque book and servicecard. So be sure you have a parachute account and can access your money.

 

" How do you know that these charges arent mentioned in your T&C's? (Not that I have any idea what they would be!!)"

they are, but that doesn't make them right. Read through the welcoming article on the main site. it will strike chords: you've always respected banks, trusted them, held them in awe, couldn't quite believe that they were the bunch of shysters that they've turned out to be (the main site doesn't say that but that's what it means). we all have felt the same way. But then we got angry: in my case, it was being shafted over a US Dollars cheque. it just tipped me over the edge and I got mad. And decided to get even. Then I went looking, and I found this site. And, like you, I was nervous. For me, the Big Thing was opening my parachute account. That was the Big Step on the way to taking them to court and everything.

 

" Is it all relatively easy or is it a lot of stress?"

It's actually straightforward but I won't say you don't get apprehensive and worried, from time to time. that'\s what we're her for: to help you through the moments of cold darkness. But follow the step-by=step guide, do some (OK, quite a lot) of reading, and you'll be fine. If you read through my thread, and any of the others' here, you'll find we all started out nervous, then got confident, and are now having fun chatting with each other. I even to confess to these people (who I don't know in the flesh) that I occasionally drink to excess!

 

"What is my first step? Sending the £10 for my statements?"

Yes, but you should send the DPA requst with your letter. Otherwise they won't know what the hell the £10 cheque is for!

 

"But I have exceeded my overdraft limit a few times!!!"

A few times??!! Is that all? I did it every month and the bank was costing more than my kids. even the one with champagne tastes!

As I sit and type here, I am £12 and change over my £3000 overdraft limit. I've been £800 over my limit. Can you bet that?

 

" It isnt over the limit now - normally only happens for a day or two just before I get paid!

How easy is it to set up a new bank account with an automatic overdraft?!"

 

Dunno about he automatic overdraft but I will say something: when you're not paying the ridiculous charges, you probably won't NEED that overdraft.

 

" So I should send the initial letter then?"

As Deller (for whom I have the greatest respect) said, open your parachute account first. That's a liberating experience. Then put some money in it. Then send your DPA (Data Protection Act) SAR (subject access request) letter.

 

ANy more, just ask. You'll be surprised how helpful people are. We're more warm and inclusive than...

well...

A very warm and inclusive thing.

Like the badger you could stuff your pyjamas into when you were younger. Or maybe you didn't have a badger. Maybe it was a teddy. Or a koala. But you know what I mean, so I'll stop gibbering, now.

 

Welcome to the club!

Westy

[ataction]

Get that S.A.R - (Subject Access Request) letter in the post asap. While you are awaiting you can do your research and open a parachute account. Easy peazy.