Natwest letter received "ceasing banking relationship" - what on earth is going on?

[SWnewstart]

I've banked with Natwest for approx 45 years, same current account and more recently a little saver account with less than £30 in it. Came back from holiday 2 days ago to a pile of post amongst which was my salary slip from part-time job, a new bank debit card to replace the current one expiring at the end of June and a letter from Natwest starting off "were you aware that we couldn't make some of your payments because there were not enough available funds in your account" - NOT TRUE.

I immediately went online and checked - there was approx £800 and I don't have any regular payments more than £40 a month (retired and mortgage free). The strange bit is that under the heading of What Items Have Not Been Paid were details of my employer and salary which obviously goes into the account, not out of it! The online statement didn't show my salary at all for May. I contacted the virtual assistant at Natwest who could only advise me to speak to my employer. I did this the next day, only to be told the payment had been returned and had I changed account details or anything? No, nothing changed at all. This morning my employer advised they had again made a BACS payment for my May salary and to let them know if it worked. I checked and the payment was in my account.

However, in the post today was another letter from Natwest stating that "we regret to inform you that following a recent review we have decided to cease our banking relationship with you as from 1 August 2022". I immediately tried calling the Shared Services in Manchester on letterhead but number just rang out. The letter also says this decision is final and they are not able to discuss the decision with me or provide any further information in relation to the decision making.

Are there any Natwest people out there who could shed any light on this (or any other bank staff). What on earth is going on? I'm worried sick.

That sounds more hopeful, fingers crossed!

Hope you get this sorted soon. I'm a long time Nat West customer and dread this happening to me too.

I have no idea what is going on either

I did go into the local branch and I showed them all of my cards and accounts and the guy actually changed everything on the computer to read my actual name with no spelling mistakes.

It worked for a couple of years.

Now it is back to the misspellings and made up names.
I think it occurs when new cards are issued on the accounts. I can only assume that someone has written my name down wrongly and when the new card is issued they set it back to the wrong name.

It works for now but I have realised that you can waste your life trying to put right big companies mistakes.

Fingers and toes are crossed op. Fingers and toes. …

That's horrible.

Same thing happened to me. I was a santander customer. My husband was always paid in cash around £1000 a month. We paid it in cash and they would always say where has the cash come from and we said wages as it was.

We took our kids to see santa at alton towers. It was a belated present from a precovid time and when there his and my bank cards were stopped. Husband spent an hour of our Christmas day out on phone. Turned out they thought he was laundering money as he always paid his wages in and it was alot of money. We came home and a letter said we regret your account is withdrawn and we don't have to tell you why. Absolves them of all blame. They only way we could ask them is to complain t citizens advice. I called and said why my card to and as we have the same address they stopped them all.
Even my 5 and 7 year old accouns

We both have moved to a new bank and hopefully no more problems

I will say if your husband bank's there too they may stop his card to.

OP glad to hear you have made some progress. I have my fingers crossed for you.

Thanks again everyone for your continued support - I'll update in a week when the new account, hopefully, goes live! I am amazed to hear so many people have experienced similar problems with Natwest.

Huh? Hundreds of thousands of accounts will have low income and no loans

This is not at all surprising
£1000 cash payments a month is a flag for a tax evader.

Is your husband self employed?

That was for @Idiotintraining

It works for now but I have realised that you can waste your life trying to put right big companies mistakes

So true!

Banks wouldn't shut an existing ac for not being profitable enough

they absolutely do

The vast vast vast majority of accounts provide no profit to the bank at all. A few hundred pounds in it if that

they may close of an account has been inactive for a very long period of time

But not for “lack of profit” on customer current accounts it would be entirely against their terms and condition and indeed banking regulations

@Ohthatsexciting yes they do- tsb did ot to my Dh and put that exact reason on the letter.

When was the last time you had used that account?

He was using it daily - dd for insurance, mortgage, shopping, petrol etc. and his weekly wage went in.
he upped sticks and went to first direct and took there welcome cash instead. Apparently a £1k per month wage 30 years ago wasn’t enough money for tsb.

They certainly do close low value (to them) accounts as well as due to suspicious activity and Nat West is one off the worst offenders. see belowhere

Sorry link copied twice!

In that case it will be in their terms and conditions that subject to closure due to “low profit”, which I highly doubt you will fond

inactive for an extended period - absolutely yes

if your husband was paying in his salary and using daily and they terminated his account, I suspect it was due to suspicious activity

the above poster refers to her husband paying £1000 in cash in every month and seems surprised the bank closed it. I’m not least bit surprised. Classics behaviour of tax evader or proceeds through crime

if happened recently @Idiotintraining i would be surprised if you’re OH is not contacted by HMRC in the near future

@Ohthatsexciting nope not due suspicious activity. He doesn’t and don’t have an such activity. All straightforward and documented in/out activity. He never even withdrew or deposited cash - he never has any. (Apparently that was what a ladies handbag was for!) The letter said it was due to being non profitable. Also no other bank and certainly not first direct, would not have touched him for suspicious activity. They are worse than the Halifax for wanting to triple check everything against a sworn statement from your great great great great grandparents both maternal and paternal.

@Ohthatsexciting who said a £1k in cash??????????

Money mules are committing a crime, they are laundering money.

Banks quite rightly do not want to do business with someone who’s done this.

Not you.

a PP as I say, presumed you would not think you given you haven’t mentioned any figures

With good reason. Financial regulators are very very hot on pre checks

yes I did.