Fuming with Nat West
Discussion
I’ve been with business Nat West for 20 years with never an issue over 3 companies.
I’m with them still with an account, credit card and bounce back loan all in good standing.
I’ve started a new marketing company, so I pop down to my main business branch to see an account manager but they are all remote now! Got to apply online they say. All very simple pre covid.
Well I did that and they turned me down - I’m fuming.
No reason no appeal.
I’m just venting and will use my existing account to actually speak to someone.
Sometimes you can strip back service levels too far.
Whinge over - I feel better now.
I’m with them still with an account, credit card and bounce back loan all in good standing.
I’ve started a new marketing company, so I pop down to my main business branch to see an account manager but they are all remote now! Got to apply online they say. All very simple pre covid.
Well I did that and they turned me down - I’m fuming.
No reason no appeal.
I’m just venting and will use my existing account to actually speak to someone.
Sometimes you can strip back service levels too far.
Whinge over - I feel better now.
My wife and I applied for a Monzo card to use on holiday.
Married 17 years, everything (everything) joint, no debts, no mortgage, phone contract each identical, same provider.
Both employed.
She was turned down, I was accepted
Added my card to her phone, job done.
Strange world of computers and A.I, whilst understood, you're anger is misplaced, the robots don't care and their human operators just sit blankly and read what they're told.
Hazzar!
Married 17 years, everything (everything) joint, no debts, no mortgage, phone contract each identical, same provider.
Both employed.
She was turned down, I was accepted
Added my card to her phone, job done.
Strange world of computers and A.I, whilst understood, you're anger is misplaced, the robots don't care and their human operators just sit blankly and read what they're told.
Hazzar!
Family business accounts with NatWest for 50 years this year and we're going through the Know Your Customer checks.
The forms ask us for our primary business (Commercial Landlord) and put in the relevant industry code, say 98765. Then it asks us the different industry codes of the properties we rent out, so we provide them: restaurants, takeaways, offices. The KYC has obviously been farmed out to India as we get calls back - your primary code is correct, but your secondary codes are incorrect. Why? We cannot tell you, only an assessor can. Can I speak to an assessor? No, they will call you within 30 days. Meanwhile deadline of 31/05 has passed when our "accounts will be put on hold" and we won't be able to make any payments. Funnily enough all direct debits are still being paid and any payments we're making are successful. We have other bank accounts we can make payments from.
Last week the assessor from India calls and explains that the KYC has failed because we have too many secondary codes. I tell them that's the truth. but she insists on deleting them and saying that we rent only to restaurants. And if you send documents to them by any means - email/post, they will lose them. I emailed the partnership agreement first, emailed it again, posted it once, and then posted it the second time with a covering page: "THIS PARTNERSHIP AGREEMENT HAS BEEN SENT BY NEXT DAY SPECIAL DELIVERY WITH A SIGNATURE BECAUSE YOU USELESS LOT KEEP LOSING THIS - FORMAL COMPLAINT WILL BE MADE IF YOU LOSE THIS." ( I was very angry that week)
The forms ask us for our primary business (Commercial Landlord) and put in the relevant industry code, say 98765. Then it asks us the different industry codes of the properties we rent out, so we provide them: restaurants, takeaways, offices. The KYC has obviously been farmed out to India as we get calls back - your primary code is correct, but your secondary codes are incorrect. Why? We cannot tell you, only an assessor can. Can I speak to an assessor? No, they will call you within 30 days. Meanwhile deadline of 31/05 has passed when our "accounts will be put on hold" and we won't be able to make any payments. Funnily enough all direct debits are still being paid and any payments we're making are successful. We have other bank accounts we can make payments from.
Last week the assessor from India calls and explains that the KYC has failed because we have too many secondary codes. I tell them that's the truth. but she insists on deleting them and saying that we rent only to restaurants. And if you send documents to them by any means - email/post, they will lose them. I emailed the partnership agreement first, emailed it again, posted it once, and then posted it the second time with a covering page: "THIS PARTNERSHIP AGREEMENT HAS BEEN SENT BY NEXT DAY SPECIAL DELIVERY WITH A SIGNATURE BECAUSE YOU USELESS LOT KEEP LOSING THIS - FORMAL COMPLAINT WILL BE MADE IF YOU LOSE THIS." ( I was very angry that week)
Ahh good old Natwest.
I tried opening a business bank account with them a while back, and they asked what the annual turnover for my new business was.
I told them it depends as it is a seasonal business, so the weather and economy may mean different levels of income each year.
Natwest - but we need to allocate you a suitable account manager based on your turnover. Otherwise, we can't create the account.
I opened a Tide bank account instead - took 5 minutes job done.
I tried opening a business bank account with them a while back, and they asked what the annual turnover for my new business was.
I told them it depends as it is a seasonal business, so the weather and economy may mean different levels of income each year.
Natwest - but we need to allocate you a suitable account manager based on your turnover. Otherwise, we can't create the account.
I opened a Tide bank account instead - took 5 minutes job done.
I bank with HSBC Business and Santander personally. Have a business that's FCA regulated with a sizeable turnover and profitability and have a flawless personal credit score. Started another business and was turned down by HSBC, Santander, NatWest / RBS, Mono & Starling for an account for it. Apparently if you put in anything to do with investing they just knock you back, might be the same for marketing.
vikingaero said:
Family business accounts with NatWest for 50 years this year and we're going through the Know Your Customer checks.
Last week the assessor from India calls…
They checks are a joke, our family also circa 50years at same address, we failed the trading address verification a couple of years back as apparently the method is for them to check street view & we don’t have a sign……Last week the assessor from India calls…
Because of this failure to confirm, they wanted certified address docs from the solicitor, did manage to get relationship manage to confirm they’d been here instead!!
dundarach said:
My wife and I applied for a Monzo card to use on holiday.
Married 17 years, everything (everything) joint, no debts, no mortgage, phone contract each identical, same provider.
Both employed.
She was turned down, I was accepted
Added my card to her phone, job done.
Strange world of computers and A.I, whilst understood, you're anger is misplaced, the robots don't care and their human operators just sit blankly and read what they're told.
Hazzar!
Welcome to the future!Married 17 years, everything (everything) joint, no debts, no mortgage, phone contract each identical, same provider.
Both employed.
She was turned down, I was accepted
Added my card to her phone, job done.
Strange world of computers and A.I, whilst understood, you're anger is misplaced, the robots don't care and their human operators just sit blankly and read what they're told.
Hazzar!
TX.
DSLiverpool said:
768 said:
You've done well to go 20 years without an issue with NatWest.
Had excellent service through growing and selling 2 companies- now it’s number 4 no manager just a complex online form that’s told me noMy business banking is with TSB, it's more by luck than design they're now the only 'proper bank' in my town. Shortly after COVID the Natwest & HSBC branches both closed.
Although COVID swang transactions towards card payments over cash I still need to bank and withdraw cash for a float for the till (the business is a bar).
Not sure what I'll do when the TSB inevitably close their doors, think the post office. My local TSB branch have at least finally dropped their COVID opening times. Open 9-5 each day but the counter was only open 9-12 otherwise you have to use the self service machine which isn't helpful when you want a grand in change. Felt a bit like Turkey's wishing for Christmas.
Although COVID swang transactions towards card payments over cash I still need to bank and withdraw cash for a float for the till (the business is a bar).
Not sure what I'll do when the TSB inevitably close their doors, think the post office. My local TSB branch have at least finally dropped their COVID opening times. Open 9-5 each day but the counter was only open 9-12 otherwise you have to use the self service machine which isn't helpful when you want a grand in change. Felt a bit like Turkey's wishing for Christmas.
I can add we've had similar nonsense with Lloyds Commercial banking and their KYC checks. We've had one account closed with only one warning email which we dismissed because it had been so poorly written and coming from a spurious echosign@echosign.com email address that we dismissed it as attempted fraud.
We're f**king livid and will be changing as soon as we've unpicked this mess.
We're f**king livid and will be changing as soon as we've unpicked this mess.
Benny Saltstein said:
I can add we've had similar nonsense with Lloyds Commercial banking and their KYC checks. We've had one account closed with only one warning email which we dismissed because it had been so poorly written and coming from a spurious echosign@echosign.com email address that we dismissed it as attempted fraud.
We're f**king livid and will be changing as soon as we've unpicked this mess.
Relying on e-mail for important things is ridiculous. I nearly 'lost' £20K because one share platform had been taken over by another. Eventually I figured out what had happened. 'We sent you an e-mail' they said. Well it's simply not good enough.We're f**king livid and will be changing as soon as we've unpicked this mess.
DSLiverpool said:
I’ve been with business Nat West for 20 years with never an issue over 3 companies.
I’m with them still with an account, credit card and bounce back loan all in good standing.
I’ve started a new marketing company, so I pop down to my main business branch to see an account manager but they are all remote now! Got to apply online they say. All very simple pre covid.
Well I did that and they turned me down - I’m fuming.
No reason no appeal.
I’m just venting and will use my existing account to actually speak to someone.
Sometimes you can strip back service levels too far.
Whinge over - I feel better now.
Do you not have a business relationship manager at Natwest? I've been with them for ever and have a very nice chap to talk to whenever and he sorts out any funding needs etc. You could maybe ask about having one. We aren't a big company. Tiny in fact.I’m with them still with an account, credit card and bounce back loan all in good standing.
I’ve started a new marketing company, so I pop down to my main business branch to see an account manager but they are all remote now! Got to apply online they say. All very simple pre covid.
Well I did that and they turned me down - I’m fuming.
No reason no appeal.
I’m just venting and will use my existing account to actually speak to someone.
Sometimes you can strip back service levels too far.
Whinge over - I feel better now.
alfabeat said:
Do you not have a business relationship manager at Natwest? I've been with them for ever and have a very nice chap to talk to whenever and he sorts out any funding needs etc. You could maybe ask about having one. We aren't a big company. Tiny in fact.
Always had one - he retired at covid and wasn’t replaced Gassing Station | Business | Top of Page | What's New | My Stuff