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Bank Accounts Closed By Natwest and RBS
 

Hi all

I am looking for advice people who have had experienced having bank accounts closed by Natwest or RBS.

I am very worried because I have just received a text from Natwest stating the following:

IMPORTANT

Following a review of your banking arrangements, we have made the decision that we can no longer offer you banking facilities. This decision is in line with the Terms and Conditions of your account and we are unable to discuss the rationale for this in a branch or over the phone. Accounts have been blocked and a letter sent to advise this decision and the next steps. L

I have a current account with RBS and 5 saving accounts and the same with Natwest. I recently closed a few of the saver accounts and tried to open a new account with RBS last week. Unfortunately their site was very buggy and I didnt think my application had gone through and ended submitting it more than once in error. I ended up with 3 accounts instead of one - and I suspect that is why they are closing my accounts.

The accounts that I do have with both have been use to receive funds from various stealth accounts in mismatching names for many years without problems and I have never sent a lot of money through them really. Way less than £3k (probably nowhere near that) in the last 12 months and I dont withdraw funds very often.

I reckon there is currently £300 max in the accounts and my online banking has been blocked so I cant check.

I have 3 main concerns and I hope you could help me with your experience.

1. Will I be able to get the money in the accounts returned to me? If so how does this work?

2. Will Natwest and RBS leave something negative on my credit file which could stop me opening other bank accounts, getting credit or passing credit checks for a job? This is my main concern as it would ruin my life if I received a Cifas mark.

3. Will they report this as money laundering to the police?

I am really sorry to bother you but I am really, really worried and would be ever so grateful if you could please share your experience. Did you receive anything on your credit profile and have you had problems opening bank accounts and applying for credit since you had your accounts closed.

I have never had anything like this happen before and it is very concerning...

Many thanks

Delboy

Re: Bank Accounts Closed By Natwest and RBS
 

Thanks Tinsoldier. Do you know this from experience?

No 2 was the main concern. Cheers.

Re: Bank Accounts Closed By Natwest and RBS
 

I had NatWest close my current account about 5 years ago, they gave the same reason that you got

I had to go in branch with photo ID to withdraw the money that was in the account they closed, it was only about £270 and they gave me cash

Didn’t notice any other adverse affects on anything, credit rating, etc

Re: Bank Accounts Closed By Natwest and RBS
 

I have done a lot of Googling on the subject and it seems to have happened to a lot of people. I did see that article last night too.

Thank you for your feedback. It does make me feel a bit more relaxed.

If anybody has actually had their Natwest and / or RBS accounts closed I would be very grateful if you could confirm Tinsoldier's answers to put my mind at rest.

Thanks all

Re: Bank Accounts Closed By Natwest and RBS
 

Thanks James169 for making me feel much better.

I have never been so worried.

Has this happened to anybody else? Cheers

Re: Bank Accounts Closed By Natwest and RBS
 

You need to wait for the letter from bank what they says, if all your accounts is closed this means you have some mark on your file already and if you apply new account it will not get accpted, if you not heard from other banks then nothing to worry

Best to access your credit report which is free anyway and it will tell you all the story

Re: Bank Accounts Closed By Natwest and RBS
 

I have checked my Experion credit expert report and nothing is showing.

Are you talking from experience? Has this happened to you?

My bank accounts with Barclays, halifax, santander and smile all seem to be fine.

It is just Natwest and RBS - who are the same group.

Re: Bank Accounts Closed By Natwest and RBS
 

Has anybody else had their accounts closed recently please?

Re: Bank Accounts Closed By Natwest and RBS
 

My partner had an a current account closed recently with the same letter. It was attached to a Paypal but wasn't used and had no money in so just left it.

Re: Bank Accounts Closed By Natwest and RBS
 

Thanks James. And was that with Natwest or RBS?

And has she had any problems since obtaining credit or opening new bank accounts?

Re: Bank Accounts Closed By Natwest and RBS
 

You just cannot make another account with that banking group, they do not share that info with other banks and nothing will be on your credit score,
just simply open another bank account up with either barclays or lloyds group or hsbc
The lose of your bank account was nothing to worry about

you already have bank accounts with other banks? why you wanting to open more?

Re: Bank Accounts Closed By Natwest and RBS
 

Thanks Chev. I dont need to open any bank accounts elsewhere yet but I want to remortgage later this year. If my credit score is affected it would cause a big problem.

Has this happened to you? I am probably being paranoid but it just seems very concerning to have a bank decide to close your account.

I really think it is because I opened 3 savers with them accidentally a couple of weeks ago. Their site seemed to be playing up and I didnt think my application had gone through so I resubmitted it.

Re: Bank Accounts Closed By Natwest and RBS
 

They are still going with this idiotic policy i see.

It is not considered fraud so no, nothing will be left on your credit file and the police will not be notified... It's just part of Natwest's stupid risk management strategy to ban a person if someone opens what they consider to be too many accounts.

What is especially stupid about this is that unlike other banks that would simply stop you from exceeding a pre defined limit by giving you an error after reaching it Natwest simply let you keep going and ban you right after. I can't believe they haven't changed one bit in the almost 8 years since they closed my accounts.

If I remember correctly when this happened to me I just had to wait for Natwest to send me a letter informing me that I could go into a branch to collect my money.

Re: Bank Accounts Closed By Natwest and RBS
 

Stop spreading FUD. The ONLY result of this is not being able to open new accounts with banks from the same group. This kind of thing will not go on a credit file.

It's best to not post at all if you don't know what the heck you are actually talking about.

Re: Bank Accounts Closed By Natwest and RBS
 

Read my post again if you dont understand ask someone else to explain this to you
The information given 100% correct go research on it

Re: Bank Accounts Closed By Natwest and RBS
 

Nice try but it's simply not correct and makes no sense whatsoever. I don't need to research because I have experienced exactly what the OP has, while you obviously haven't experienced this as you would otherwise know that this does not leave any mark on the file and has no effect other than not allowing you to have any future accounts with banks from the same group.

Re: Bank Accounts Closed By Natwest and RBS
 

Seems like you still not understand my post
READ AGAIN
I said if op's all accounts are closed by bank this means he is got mark already on his credit file
Where this mark flag up in banking system and they send letter to close the accounts not just one bank or banking group its applies to all groups but then op explained he has accounts with other banking group which are not closed so it does not applies to him

Next time if you dont understand as i said ask someone's help

Re: Bank Accounts Closed By Natwest and RBS
 

Elijah,

I opened 3 RBS and 1 Natwest saver in the space of a few days so that is likely to be the cause of my closure. Yes I was silly to open this many so quickly...

Did Natwest tell you that they closed your account because of the number of savers you had opened in a short time or did they not confirm the reason?

Fingers crossed that nothing comes of this on my credit report. Based on what you and a couple of other people on the forum (who have experienced similar issues with Natwest in the past) have told me in PMs it seems I might be ok.

Having said that this whole situation has scared me and I am going to reduce the number of my stealth accounts and make sure that all Paypals are in my own name (if not the same address). My name is fairly common.

Re: Bank Accounts Closed By Natwest and RBS
 

That's funny. Since you keep telling me to ask for someone's help I'm going to drop all pretence with you: you can barely write a comprehensible post in English. It's hard to understand your posts, so reading them again and again would be completely fruitless.

You should work on your written English skills and not get angry when someone can't decipher one of your poorly written posts.

I'm not sure you why you would mention "op's all accounts" or the advice to check the credit report if you actually knew what you were even talking about. It just shows your lack of experience with this specific issue.

Re: Bank Accounts Closed By Natwest and RBS
 

Let's just put it this way. A bank seizing to do business with you without disclosing the reason is definitely something to worry about.

This isn't a poxy paypal or ebay account. It's the actual bank, who you trust to hold your money telling you to eff off.

Even if there isn't a visible marker on your credit rating, they definitely have another database of their own and it will stay on record.

I would say it isn't the speed you opened your accounts in because I have opened 3 halifax savers / natwest savers within the space of 2 days.

It's your previous relationship with the bank. And the fact you have been receiving payments under an alias for a long time.

This will be a non issue if all stealthers just used their real name.