NatWest business profile faff
Discussion
https://www.yourbusinessprofile.natwest.co.uk/
Anyone else struggling with this? We’ve been in business for over 50 years and are being asked for documents that don’t exist. It’s very frustrating indeed and the helpline are useless.
It’s also pretty intrusive asking about ownership structure etc.
It seems to be NatWest only as far as I know which is a bit odd..
Anyone else struggling with this? We’ve been in business for over 50 years and are being asked for documents that don’t exist. It’s very frustrating indeed and the helpline are useless.
It’s also pretty intrusive asking about ownership structure etc.
It seems to be NatWest only as far as I know which is a bit odd..
Nope - all the main ones do this.
Had the same with HSBC and ignored the letters as they looked like photocopies of photocopies so thought it was a scam. Only acted as I was in a branch and asked their business manager about them.... he didn't know and had to go and check.
A company I do a lot of work with bank with Lloyds. Similarly disregarded the request for the same reason and had all their accounts frozen - taking over a month to reinstate them.
Had the same with HSBC and ignored the letters as they looked like photocopies of photocopies so thought it was a scam. Only acted as I was in a branch and asked their business manager about them.... he didn't know and had to go and check.
A company I do a lot of work with bank with Lloyds. Similarly disregarded the request for the same reason and had all their accounts frozen - taking over a month to reinstate them.
StevieBee said:
Nope - all the main ones do this.
Had the same with HSBC and ignored the letters as they looked like photocopies of photocopies so thought it was a scam. Only acted as I was in a branch and asked their business manager about them.... he didn't know and had to go and check.
A company I do a lot of work with bank with Lloyds. Similarly disregarded the request for the same reason and had all their accounts frozen - taking over a month to reinstate them.
We had the same with HSBC and Barclays.Had the same with HSBC and ignored the letters as they looked like photocopies of photocopies so thought it was a scam. Only acted as I was in a branch and asked their business manager about them.... he didn't know and had to go and check.
A company I do a lot of work with bank with Lloyds. Similarly disregarded the request for the same reason and had all their accounts frozen - taking over a month to reinstate them.
Some of the questions we didn't even understand.
When we got to "What is the prettiest element in the periodic table?" and "We're thinking of a country, a fruit and a mode of transport. The third letter of each spells what?" we tried to call both banks. Hours and hours on hold, calls not returned.
HSBC froze one of our accounts, whilst we were trying to contact them.
The banks have to do this, they don't want to because it earns them no money, and most individuals / business are as important to them as the chewing gum on the sole of their shoe. Which is why we are where we are with it.
As above, all banks are/have done this in some way shape or form (called remediation). Depending on how long ago you opened your account they're needing to go back and fill in the blanks for information they didn't collect at the account opening stage.
Most if not all of the big banks handle this pretty atrociously as they're using a blanket approach for every account meaning you get asked the same questions whether you're a one-man band selling flowers or a multi-employee tech company (pretty much), meaning most of the questions aren't relevant and don't make sense, plus they won't help you complete it meaning there's every chance if you get it wrong they'll just give you notice of closing the account weeks later.
It's probably worth persevering as if you were to switch now you'd probably end up having to give most of the same info to a new bank.
Most if not all of the big banks handle this pretty atrociously as they're using a blanket approach for every account meaning you get asked the same questions whether you're a one-man band selling flowers or a multi-employee tech company (pretty much), meaning most of the questions aren't relevant and don't make sense, plus they won't help you complete it meaning there's every chance if you get it wrong they'll just give you notice of closing the account weeks later.
It's probably worth persevering as if you were to switch now you'd probably end up having to give most of the same info to a new bank.
Joscal said:
https://www.yourbusinessprofile.natwest.co.uk/
Anyone else struggling with this? We’ve been in business for over 50 years and are being asked for documents that don’t exist. It’s very frustrating indeed and the helpline are useless.
It’s also pretty intrusive asking about ownership structure etc.
It seems to be NatWest only as far as I know which is a bit odd..
With HSBC since 2019 - opened a 2nd company in June 2022 and had same. Their web application said our company structure wasnt compliant even though exactly the same as previous one (accountant set up both). Had to wait weeks for telephone process only to have the rudest guy ever literally shouting i was wrong and system was right. Sent accountant letters, company house docs, ignored for weeks.Anyone else struggling with this? We’ve been in business for over 50 years and are being asked for documents that don’t exist. It’s very frustrating indeed and the helpline are useless.
It’s also pretty intrusive asking about ownership structure etc.
It seems to be NatWest only as far as I know which is a bit odd..
Eventually lost will to live (complained to head office) and opened with Lloyds which was fairly uneventful. More login, pw, interfaces, secret handshakes etc...
cheeky_chops said:
With HSBC since 2019 - opened a 2nd company in June 2022 and had same. Their web application said our company structure wasnt compliant even though exactly the same as previous one (accountant set up both). Had to wait weeks for telephone process only to have the rudest guy ever literally shouting i was wrong and system was right. Sent accountant letters, company house docs, ignored for weeks.
Eventually lost will to live (complained to head office) and opened with Lloyds which was fairly uneventful. More login, pw, interfaces, secret handshakes etc...
Ah, you should I have said you were a Mexican drug cartel, your account would have been opened in a matter of minutes.Eventually lost will to live (complained to head office) and opened with Lloyds which was fairly uneventful. More login, pw, interfaces, secret handshakes etc...
Yes. See here: https://www.pistonheads.com/gassing/topic.asp?h=0&...
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