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.

Op do update.
It's the not knowing I find bizarre such a long steady customer.

Can you let someone like Martin Lewis know or daily mail money matters?
That sort of thing. Even tweet this.

Fingers crossed you get new account sorted!
I've always thought it wise to have a few accounts.

If a bank freezes your account and does not allow you to withdraw your money - isn't that theft?

I can see that there are reasons why money launderers may get their account frozen - but if it's frozen and they don't tell you why and they don't let you access your money, how do you actually get your money?

There are people on the Facebook group for the Natwest who have literally been reduced to living on thin air, using food banks because NatWest have frozen their savings so they can’t reduce it below the savings level required to qualify for universal credit so universal credits are deducting the amount of savings that they allegedly have that Natwest won’t let them access.

As I said upthread, Kafkasque

No, it’s not. Once the checks are completed the money will be returned to the rightful owner.

What in god's name is nat West up too??

I can't understand it!

Get police involved, investigation,ok but to literally with someone like ops history cut them down like this?

Had a similar problem with NatWest a few years ago. Opened accounts with HSBC just fine. What I don't understand is all the secrecy, why won't they tell us why they want to stop being our bank? All very odd.

Because it is either against the law or commercially sensitive.

Thanks. Wouldn't they report me to the police if I'd done something unlawful?

Yes, if they think that what you have done is criminal at the end of their investigation then it will be passed to the authorities.

If there’s nothing illegal but you seem to be more effort than it’s worth to have you as a customer then they will just close the account.

If they decide neither of these apply they will return to normal service.

The investigation can take years however, theres no charter insisting on timeframes

It’ll take as long as it takes, but I believe that a typical time is a couple of weeks.

Given the possibility of this happening, it’s always a good idea to have bank accounts with more than one banking group, and to have some savings at home too.

Such good advise on multiple bank accounts, thanks.

So today's update:
It's a lovely sunny day so we packed a picnic and headed off to our favourite, secluded beach. Very peaceful place with virtually no mobile signal. Walking back to the car I got a text message from Lloyds Bank Switching Team "unfortunately your switch request could not be progressed. Please call" etc. I despair, I really do. There is obviously something going on when checks are made between banks? Am I completely blacklisted? Once more I will call first thing tomorrow (and no doubt be on hold for a very long time again) or might go back to Lloyds branch and see if the financial consultant can either shed any light or at least have a "hot line" to the switching team that we can call whilst in the bank. Wish me luck!

What a nightmare.

I hope you get answers.

Could you try opening a separate current account with a different bank without going through switching? You can have more than one .

You generally can’t have more than one current account , effectively

Yes you can. You just need to have at least 2 direct debits coming out and pay in a certain amount each month. The DDs can be a couple of £5 charity donations and the deposits can be transfers from another account.

I might be reading it wrong, but aren't they just saying they can't 'switch' (assume Natwest won't release any monies yet), but they will still allow you to open an account?
It looks that way to me. They have not said they are unable to supply a current account, only that they can't do the switch.
Pain in the arse, but at least it's a proper current account.

Well, I have two, so that's not right.

Blimey this terrifying...I have a current account with Lloyds that doesnt make them money , and am paying off a stopped credit card with them slowly..prime candidate for termination?

Over 20 years ago NatWest did similar to me. They were actually fined in the end. I took it to the ombudsman at the time. I ended with a basic account from Nationwide - at the time this account did zero credit check just id. I’d go there and not say why.

Like I said. GENERALLY. You can’t. There are exceptions, in particular when someone has had two for a long time.

What you can’t really do is plan to have two, or assume you can have two. ( or even one, in some cases)