closing bank accounts

Dave Stones · 01-12-2004, 12:27

more banking questions

bet you are all wondering if i am mad or something

anyway...

i have an account at natwest which i wish to close down, i don't use it for anything anymore and it has money sitting in it doing nothing. I want to shift this money into a mini ISA at my other bank, so all my accounts are in the same place. Now, finding information abuot how to close down your bank account seems to be difficult ,so i will ask the question: how do i go about it?

specifically for a natwest student current account, the branch is 200 miles away so not as simple as just walking in and saying " i want to close my account at this branch"

Bifta · 01-12-2004, 12:28

0845 6041604

Dave Stones · 01-12-2004, 12:29

Quote:

Originally Posted by Bifta

0845 6041604

now i hate to ask, but did you just reel that off the top of your head?

ian@huth · 01-12-2004, 12:32

Transfer the cash from the Natwest account to your other bank, may have to leave 1p in with some account types then just leave the 1p sitting there or the zero balance.

Dave Stones · 01-12-2004, 12:33

Quote:

Originally Posted by ianathuth

Transfer the cash from the Natwest account to your other bank, may have to leave 1p in with some account types then just leave the 1p sitting there or the zero balance.

see that was my original plan, i just thought it would be more efficient to get rid of the account completely, and get rid of the craptastic solo card...

01-12-2004, 12:42

Personally I'd either ring the number provided by Bifta, or call into you're local main branch of the NatWest (seeing as I hate automated call systems on the 'dog', I'd go for option two). There seem to be one or two bank employees available in most large branches, available to answer customer questions. If they tell you they can close the account, then just transfer the money to you're new account and close the old account while in the main branch. I've never had any problems doing rather complicated banking transactions while visiting my brother in Preston, even though my account was opened in Belfast.

Bifta · 01-12-2004, 12:50

Quote:

Originally Posted by Dave Stones

now i hate to ask, but did you just reel that off the top of your head?

See that and 08457404404 (HSBC) are permanently stuck in my head :|

SMHarman · 01-12-2004, 13:25

You should be able to do it in any bank branch.

You fill out an account closure form and tell them where to send the money (thats what I did with my Halifax accounts). The dumb ****s still managed to send me a cheque for 12p accrued interest and then refuesed to cash it at a counter as I didn't have an account with them and might be a money launderer.

, so I told them to keep it. I wasn't about to put it in an envelope with a 21p stamp

on the front to send it to First Direct to cash it.

Oh and First Directs Call centre number of 08456 100 100 is much easier to remember than HSBCs

Neil · 01-12-2004, 13:34

Quote:

Originally Posted by SMHarman

Oh and First Directs Call centre number of 08456 100 100 is much easier to remember than HSBCs

Can't argue with that-they are the most polite/professional/efficient company I have ever dealt with, & I wish I could run my life through them!

http://www.firstdirect.com/ & http://www.firstdirect.com/contactus/contactus.shtml

[Edit]-Also worth a look: http://www.firstdirect.com/awards/awards.shtml

bob_builder · 01-12-2004, 13:46

Quote:

Originally Posted by SMHarman

I wasn't about to put it in an envelope with a 21p stamp

on the front to send it to First Direct to cash it.

First Direct make you pay to deposit money!?!

Well, that has just made my mind up never to open a First Direct account. I have a Nationwide InvestDirect account and they give you prepaid envelopes for deposits and withdrawals or you can use a Nationwide cash machine.

Don't First Direct let you deposit money in any HSBC cash machine?

Neil · 01-12-2004, 13:56

Quote:

Originally Posted by bob_builder

First Direct make you pay to deposit money!?!

Well, that has just made my mind up never to open a First Direct account. I have a Nationwide InvestDirect account and they give you prepaid envelopes for deposits and withdrawals or you can use a Nationwide cash machine.

Don't First Direct let you deposit money in any HSBC cash machine?

Pay attention at the back!

The point was that it wasn't worth putting a 21p stamp on an envelope to send FD 12p to put in his account!

SMHarman · 01-12-2004, 14:17

Quote:

Originally Posted by bob_builder

First Direct make you pay to deposit money!?!

Well, that has just made my mind up never to open a First Direct account. I have a Nationwide InvestDirect account and they give you prepaid envelopes for deposits and withdrawals or you can use a Nationwide cash machine.

Don't First Direct let you deposit money in any HSBC cash machine?

And yes I could have walked down the road to the HSBC to pay the cheque in, redmist had decended by this point though as I had been told the account had a 0 balance and if it did not the transfer would have been done electronically, and basically I could not be bothered to waste any more of my lunch hour dealing with the incompetence of Halifax. It took me another couple of months to move my Mortgage away from them, but it was most satisfying severing all financial ties to them.

danielf · 01-12-2004, 14:20

Quote:

Originally Posted by Neil

Pay attention at the back!

The point was that it wasn't worth putting a 21p stamp on an envelope to send FD 12p to put in his account!

Pay attention at the front!

Quote:

Originally Posted by bob_builder

First Direct make you pay to deposit money!?!

Well, that has just made my mind up never to open a First Direct account. I have a Nationwide InvestDirect account and they give you prepaid envelopes for deposits and withdrawals or you can use a Nationwide cash machine.

SMHarman · 01-12-2004, 15:05

Aah, but the Nationwide Invest Direct is a "Postal Account", as such it makes sense to offere prepaid envelopes for deposits. It is also a savings account, not a current account.

First Direct is a current account product and a (originally) telephone banking product, so whereas the competition would say we cant move that money there based on just a phone call, First Direct would say it will be there in 4 business days (the banking system being what it is).

In any case the effort of sending a cheque for 12p anywhere to deposit it is beyond me. I have a cheque for 50p pinned to my wall here from when I phoned to report a fault on one of those postman pat car ride machine things you get in shops / airports. It ate my money, I thought it a good idea to call the freephone number so someone came out to fix it and they sent me a cheque for the lost 50p.

Shaun · 01-12-2004, 16:07

I used to work for Natwest and they used to only accept closure in writing, or on a preprinted form. I'd suggest just taping out a quick letter saying what you want doing with the account. If you give them A/C and S/C for your other account they will BACS it over for you.

HTH