Natwest Business Banking Drops ALL interest on Business Current Account

[Bumfluff]

If anyone has a Natwest Business current account please note that from today onwards the account does not earn interest.

They sent out a letter a couple of weeks ago telling about an increase in charges and had a tiny footnote about the dropping of interest. To get interest you now have to use there £55 a month account !

[Sockpuppet]

Hmm. Are you sure?

I was told when I took out the business current account that I was not going to earn any interest on that account. However the business reserve account would. I don't pay £55 a month for it.

[Bumfluff]

Hmm. Are you sure?

I was told when I took out the business current account that I was not going to earn any interest on that account. However the business reserve account would. I don't pay £55 a month for it.

Reserve account is ok, its just the current account, they told me to get interest I had to go on the Advantage account which is £55, but I just spotted they also opened a new account today called 'Current Plus' , pay interest seems the same as the old account but different name.

So f8cked off with Natwest been trying to get info from them all morning and the only person they tell me who can tell me is my 'Relationship Manager', who never answers his phone or gets back to me

[Sockpuppet]

I just spotted they also opened a new account today called 'Current Plus' , pay interest seems the same as the old account but different name.

And £5/pm charge.

[scooby]

i was told none of this when i opened my account with them 3wks ago. i'll read my paperwork when i get home and tell you what that says, but i think it said i get interest on current, and 2.8% on my reserve account.

[Lockhouse]

I moved to Cater Allen last year. Paying NatWest for keeping shedloads of myco's money with very few monthly transactions didn't seem to make sense any more. Funny that....

[Bumfluff]

i was told none of this when i opened my account with them 3wks ago. i'll read my paperwork when i get home and tell you what that says, but i think it said i get interest on current, and 2.8% on my reserve account.

I've been with Natwest Business banking for 2 years, I'm an idot for staying with them so long. The only reason i did was my personal accounts are with them and I just know that closing my business account will screw up my access to my personal accounts, sounds far fetched but based on the screw ups they have made I have no trust in them. The business banking has been a nightmare, to be honest I wouldnt be supprised if they 'forgot' to tell you, there is alot of things they 'forgot' to tell me as well.

I've got a feeling based on what I have found out, its not a simple process of transfering the old current account to the new current account you 'have to re-apply'.

I'm now on my 5th business manager, and its only my business manager who is allowed to talk to me about such things, if I ring up direct business banking they wont talk to me. So since making my first call at 9am today to enquire about the new accounts and the changes I've heard nothing back from my business manager, to be honest I dont expect to either. The only time they have called me is to sell me something, at one point I enquired regarding a pension and was getting 5 calls aday from them trying to get me to sign up even offering to travel to my office at lunch time to do the paper work.

Natwest Business Banking has 'MASSIVE' customer services issues IMO, its beyond a joke.

[Bumfluff]

Ok I know this is boring but I thought any would be Natwest Business Banking Customer would interested to see my time line to get a basic account query answered through my Business Manager, I will keep it updated until he calls me back, probably mid week.

-9am : called Natwest Direct Business Banking basic enquiry about account interest, they cant tell me anything I have to deal with Business Manager 'its the law'.

-9:30am : Emailed Business Manager, got a reply back saying he is no longer my Business Manager he has a new job, talk to a guy called xxxx on xxxxx

-10am : Rang business manager left msg.

-1pm : Rang business manager left msg.

-4pm : Rang Natwest Business Banking, begged them to deal with again told no has to be Business Manager, explained to them I cant get through, not there problem will have to go to branch and see him, remeber this is basic query I had nothing complex.

5:30pm : Rang business manager again.

6:54pm : Still no god dam reply.

Cost so far to me of not getting the issue resolved, £143, thats my time and interest lost on my account.

[BA to the Stars]

Simple solution, as soon as Nasty West receive your account transfer request, they will be on the phone to you like a shot

[scooby]

Ok I know this is boring but I thought any would be Natwest Business Banking Customer would interested to see my time line to get a basic account query answered through my Business Manager, I will keep it updated until he calls me back, probably mid week.

-9am : called Natwest Direct Business Banking basic enquiry about account interest, they cant tell me anything I have to deal with Business Manager 'its the law'.

-9:30am : Emailed Business Manager, got a reply back saying he is no longer my Business Manager he has a new job, talk to a guy called xxxx on xxxxx

-10am : Rang business manager left msg.

-1pm : Rang business manager left msg.

-4pm : Rang Natwest Business Banking, begged them to deal with again told no has to be Business Manager, explained to them I cant get through, not there problem will have to go to branch and see him, remeber this is basic query I had nothing complex.

5:30pm : Rang business manager again.

6:54pm : Still no god dam reply.

Cost so far to me of not getting the issue resolved, £143, thats my time and interest lost on my account.

They get worse... i opened my account with them at beginning of May and still have not received any cash cards, but i have received my paying in book etc. i've also had no response to my application for online banking that was sent 2nd week of May.

So Saturday, i call my BM but they dont work weekends (Fair play!) so i call the business support desk. it turns out they wont speak to me as i'm cleared for phone banking. they transfer me to the team that does this, and also do online banking apps (same thing apparently!). they've not recieved anything so will send me forms out. it will take about 5-10 working days.

I call my BM ranting on the voicemail cos i wasnt happy (as you could understand). he calls me back this afternoon. he apologises, i should have recieved card, and he will chase the online access app. a little bit of talk (waffle from him) and then he says he will get the card ordered as they havent done it yet (contradiction there!). so i ask about the interest, which i've yet to be informed of... he mumbles that 'yes there is no interest paid...' no apology, nothing! he didnt even comment when i asked if i had been mis sold as he told me there was interest on the account of about 2.5%...

not happy. may open a new account somewhere else and take it from there... there is nothing more i hate than poor customer service.