Love And Hate (Natwest Bank)

Member Name: I Like Blue

Product:	Natwest Bank
Date:	09/11/01 (1558 review reads)
Rating:

Advantages: Plenty if you have money, Online Banking service

Disadvantages: Plenty if you have no money but need short term help, Being a tenant (sometimes)

That really sums up the relationship most of us have with our Banks isn't it, no matter which one you are with. Over the years the NatWest has annoyed me, surprised me and sometimes made my day, so here is my story, my relationship with the NatWest.

I have been a customer with the NatWest for over 16 years and I have kept my account at the same branch for that period, even though I have lived in a multitude of locations. If I didn't have commitments with NatWest I would probably move to another one but then I feel that all Banks have their faults.

I have seen in that time the deterioration of the Bank's services, it's customer care, the personal side of banking and I have also seen all the promises that things will get better, more customer friendly, but never actually happening. I am referring mainly about the supposed 'improved' central banking service NatWest offer, which is mainly for use by customers who live away from their 'local' branch.

The service from branch to branch seems to vary but things do appear to be improving now they have this scheme guaranteeing customer satisfaction (see branch staff for details).

My trust and faith in this bank has faltered many times and especially when they introduced their new centralised Banking system. This meant that if you had a query, complaint, or whatever you could no longer speak to your Branch Manager or staff direct. For most people this was not a problem if they lived in the same town as their Bank, as they could just 'hotfoot' it down to their local branch, ask to see the Manager and sort the problem out there and then.

For everyone else who does not live near his or her Branch, this means you have to go through a 'centralised' system. This puzzles me even now, because each time you get through to the central switchboard (after playing with all the number keys on your phone, selecting the different options and i
nputting your account details), the person at the other end asks you for your account details?!?

Anyway, so now we have established that NatWest are somewhat impersonal in this case, we also now discover that we are not just an account number anymore, we are now an account number and sort code! Many of you may remember that a while back NatWest (along with other Banks) took a lot of criticism for losing the personal touch with their customers. Well I can't speak for other Banks, but on this score and in this case NatWest appear to be slowly improving or I am getting used to the system.

However, we can and do live with that, just, it isn't a major problem, as most people nowadays seem to expect and get poor service and customer care from their Bank. To expect anything better and actually get it puts you in a privileged group of customers.

I don't deal with the NatWest by phone that much anymore, not since I started to use their online banking service. This I have to say is by far the best aspect of banking with NatWest, for me anyway. I can do almost everything from the comfort of my PC!

When the NatWest online banking service was first launched it was pretty poor. It took forever to get logged in and even longer to load the pages, and on top of that they included a 5 minute timer meaning if you, the customer/user hadn't done anything within that time then the system would shut you out. Of course it didn't matter that the reason you hadn't done anything for 5 minutes was because you couldn't, you were waiting for the page to load!

Like most things the service slowly improved and now I can't honestly fault it. It is quick and easy to use, and access to accounts and services are very good. I can now cancel and/or set up Direct Debits, Standing Orders, or transfer money without the need to call the bank. This used to be the case in the early days of the service, you could cancel a Dir
ect Debit or Standing Order online but you would have to confirm it either in writing or by phone.

So, overall a big tick for their online banking service.

Perhaps the biggest thing to look for in a Bank is, to put it quite honestly, what can it do for you? Each bank offers a multitude of services and at some stage we as customers use them. The main services usually opted for involves borrowing money, doesn't it? Whether it is an overdraft, a loan or a mortgage.

In this area I feel NatWest are rather discriminatory and I will explain how I have come to that impression based on my experiences.

Over the past 16 years as a NatWest customer I have from time to time needed an overdraft, this was until they introduced the 'Credit Zone'. The Credit Zone is technically an overdraft but it is semi-permanent and the limit is usually in relation to your income and how much you deposit with the bank each month. Obviously an exact amount can be negotiated if you don't want the maximum. The interest charges are substantially lower than an overdraft and you are only charged if you actually use the Credit Zone.

Our Credit Zone has fluctuated over the years mainly to suit our needs and lifestyle at a particular time. This is because my job has meant over the last 16 years my family and I have led a pretty nomadic life, living in various countries around the world, but we have always been NatWest customers.

In that time, living abroad, we still had commitments in the UK so we would send money back to our account by various means. Also if we needed extra funds the bank were normally more than happy to lend us the money.

But, only when we were abroad, because I was earning a bit more money.

Each time that we moved back to the UK then all of a sudden if we needed help from the NatWest they wouldn't help us. Then, when we went abroad again they couldn't do enough to help us!
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This type of treatment became more evident over the last year. Up until March 2001 we lived in rented property, we were tenants. Usually if we wanted financial help from the NatWest it was a fight to get it and it nearly always came with conditions. This is despite the fact of our long years of being customers that counts for nothing.

In March 2001 we became homeowners (hooray!). Ever since then the NatWest have treated us like royalty, it is quite bizarre. Initially we took out a loan for some home improvements and to buy me a motorbike. Of course we were ready to be turned down, again.

We were accepted, no problem.

Even the application procedure was different. We had phoned the central operations of NatWest and enquired about the loan. We were told to go to our nearest branch where a computer copy of a personalised application form would be waiting for us. So off we went and sure enough as soon as we were in the office with one of the assistants he was printing off the application form (after adding some finer details).

The loan was all but processed in front of us. No fight, no begging and no conditions.

Now, since then we have needed to restructure our finances again, so nervously we approached the bank about a type of consolidation/restructure loan. Again we expected a negative response but instead it was agreed immediately and the forms were sent to us for signing.

Yet just 8 or 9 months ago we were treated completely differently because (I am sure) we were tenants. We got our mortgage from the Abbey National, so I couldn't tell you about NatWest's service there. We did consider the NatWest for a mortgage but very briefly because of the way we had been treated before.

I would probably on balance recommend the NatWest to a prospective new customer, but I would warn them of all the problems they could face. This obviously goes for any Bank actually. The online banki
ng service is a big plus, if you are a homeowner you seem to get preferential treatment for loans etc, and if you have lived near your local branch for a long time then you are laughing.

However we are now living in a highly mobile world so our needs are different to a degree, and while centralising banking systems and services is a good practice in theory, Banks like the NatWest also need to concentrate on keeping the faith and loyalty of their customers.

My overall impression of NatWest has slightly improved and I am happier with them now than I have ever been, but it still doesn't make up for all the bad times. If I wasn't such a loyal person or it wouldn't be too difficult to do so then I would definitely consider changing Banks. The problem being though that I feel it would probably be jumping out of the frying pan into the fire.

All I need is a Bank that has no charges, offers interest free loans and mortgages, and, and...

Is there such a Bank?

Summary: