Natwest will teach you to look after your money!!! (Natwest Bank)

Member Name: stebiz

Product:	Natwest Bank
Date:	20/01/09 (98 review reads)
Rating:

Advantages: None

Disadvantages: A bank who has just lost in the region of £28 Billion

In this world of the Credit Crunch the present Advert has given me a real laugh. You know the one were they offer moneysense in all their branches. These are and I quote from their website 'Free, impartial tips and advice to help you feel confident about understanding and dealing with money'.

Are they having a complete laugh. Not only do I believe this advice can't be impartial (I stand to be corrected Natwest) but (and I have to quote again) LONDON (Reuters) - 'The government threw its troubled banks a second multi-billion pound lifeline in three months on Monday and gave its central bank the green light to pump cash into the ailing economy because interest rates are already close to zero. The latest plan will see the government increase its stake in Royal Bank of Scotland <RBS.L> after the bank announced the biggest loss in British corporate history: up to 28 billion pounds in 2008'.

Are they trying to have a laugh? Their Parent Company have just reported the biggest loss in history and they are trying to advise me how to save a couple of hundred pounds a year. Let us put this another way. They nearly went bankrupt (and if they were in any other industry they would have) and they are trying to tell us how to run our affairs. It is a bit like asking my 4 years old to take over the making of Cadbury's Chocolate for a week.

I have to admit at the stage I have had run ins with Natwest in the past. I had a business account with them about 10 years ago and was far from happy with the day to day running of it. The charges I received were massive. Part of this I blame on myself but the pressure and phone calls from Natwest at the time was immense. However I seem to have learnt my lesson. Has Natwest? I really doubt it. They say it is down to global affairs. No it was down to global greed by many of the large banks. And who has to pay for it all - us tax payers!

So for those of you who want to be taught moneysense can I recommend my four year old. He is available 24 hours a day. Has never owed any money in his life and he has never been near bankrupt.

I am not suggesting that people don't save with Natwest because their savings are protected (to a limit) but I am saying think twice before you pop in and ask to be taught how to look after money. Most of this advice is available on the internet Free, and if you are careful impartial. Is Natwests? Is there anything such as a free lunch?

Summary: I'd rather ask my 4 year old for financial advice. Check out moneysavingexpert.com instead.