Has NatWest’s glitch sent your bank account into meltdown?
Have you been affected by NatWest’s banking blip? What may be a ‘technical’ issue for NatWest has resulted in some seriously unhappy customers. Here’s your feedback and our advice on getting money back.
You’re a NatWest customer. You log on to check your balance. The figure is not what you expect and some of your bills haven’t been paid.
Unfortunately this is a familiar scene for around 12 million customers who were affected by NatWest’s ‘IT error’ last week, the consequences of which are continuing to have a knock on effect to customers’ bank accounts.
The lowdown on Twitter
We were keen to gauge the impact this has had on NatWest customers’ finances. A number of people responded to @WhichMoney’s Twitter account shout-out for feedback. Craig Hulland said, ‘I have no wages paid despite saying the problem is fixed.’
And Chris Jarret had even bigger problems on his hands:
‘Due to NatWest technical issue, I’m currently homeless. My house purchase failed to complete. I’ll be switching bank ASAP.’
What is NatWest doing to help?
NatWest has published some advice on its website confirming what it’ll do to help customers in this situation.
But it’s not just your bank account that may feel the consequences of this error. It’s likely that if you’ve been affected, you’ve spent time and money trying to get your finances fixed. We’ve prepared some tips to help make sure you get back what you’re owed.
1. Lodge a formal complaint with NatWest as soon as possible
Let NatWest know that you have been affected and give it a detailed account of any costs that you have incurred and payments that have been missed both to and from your account and the impact on you for any distress and inconvenience.
2. Document everything
Keep a detailed log of losses including interest incurred on missed payments and other penalties, phone charges and any account activity that has or should have taken place (including rent or mortgage payments, credit card and bill payments and wages).
3. Eight weeks and counting
The bank has up to eight weeks to resolve your complaint. If it has not done so by that time or you’re not satisfied with the response, you can take your complaint to the Financial Ombudsman Service (FOS).
The error is the type of IT failure you might expect (or accept) from a very small company. But a big bank like NatWest? Our executive director, Richard Lloyd, has warned:
‘NatWest should compensate everyone who’s been affected and is out of pocket, no questions.’
We’re worried about how robust other banks’ IT systems are and we want the financial regulator to urgently examine the systems and control to find out the cause of the problem.
Have you been affected by NatWest’s error? Are you keeping track of all the phone calls and other outlays you may have put out in order to get your finances back on track?
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