Should I be concerned about my bank account?

[LookWhosInsideAgain]

I’ve recently received my 7th debit card this year with an accompanying letter saying that there was a risk my old card may have been compromised so a new one has been issued, to start using it straight away and destroy my old card. As far as I’m aware there have never been any unapproved payments that have gone out of my bank and each time that I’ve received a new card I’ve had a look through all my recent transactions to confirm this.

This is for my current account with NatWest. I never have much more than £1,000 in the account but it does have a £4,500 overdraft and is linked to my savings account which has around £10k in.

Would this be something that would concern you or would it actually put your mind at rest as they’re clearly on top of any potential fraud? I’m tempted to remove the overdraft facility and move my savings to a different bank just in case but I don’t know if I’m just being paranoid. I never use my card for anything for anything unusual and don’t buy stuff from dodgy websites or anything like that.

Hopeful bump

7th this year?! I think I'd be switching banks.

Have you called them and asked what on earth they think the problem is?! It sounds completely bizarre. The only time I've had a bank query a transaction was back in the dark ages and I forgot to tell them I was going abroad.

Do you actually need a £4,500 overdraft facility? Is it realistic that you would need that much, given your savings? You could reduce the overdraft facility, eg to £500.

I’ve never even had one letter like that! In your situation, I think I’d be concerned. I’d probably call them and ask them what the issues have been, and if no joy there/unhappy with their answer, I’d move my money & close the account.
It’s easy to open new bank accounts online these days, so if you’ve no overdraft you don’t have to stay with a bank you’re unhappy with.

I called after the 3rd one arrived and was told that it was just procedure as a transaction had flagged as being potentially fraudulent so it was an extra caution. I used to occasionally get a text saying that my card had been blocked after a transaction and to confirm if I’d made it or not and then it would be unblocked. That seems to have stopped and now they just send a new card everytime. It’s so weird.

It sounds bizarre that you have been sent new cards every month this year! Have you spoken on the phone to find out what the issue is? I would switch banks and make sure your savings are somewhere with a decent interest rate.

Phone your bank.

@MortgageConundrum no, I don’t need the overdraft really. I got it years ago when I went travelling, just in case of emergencies, but I’ve now got my savings account so I can dip into that if anything urgent crops up.

I would be changing banks, plenty other £200 for switching

Is it NatWest?

yes it states it in the OP

id be changing banks

There's too much access to too much money at stake to take a chance.
I would shut down any avenues for getting to large sums, or, ideally switch accounts.

I'd be swapping to a different bank. That is a huge overdraft to have accessible. Most current accounts have £500-£750 as a standard overdraft. Look on moneysavingexpert for which accounts are offering the most to switch, it usually takes 7 days and they automatically transfer all DDs for you so its easy.

TheOrigRights
Is it NatWest?

"yes it states it in the OP

id be changing banks"

[sorry, can't "reply" on my MN app]

Ah I missed it was NatWest.
I recently switched my Current account from NatWest to first direct due to increasing poor service and customer support.
Even that's proved to be a problem (compensation in its way).