Reminder To Self: Never Bank With Natwest

[schmutzie]

[befor internet banking it was possible to authorise transactions by Fax or Mail.

But the risk was born by the account holder, one usually telephoned them first before sending the Fax.

Don't know what bank you are with but I've transferred money by mailing the instruction and having them call me to confirm with two of my UK banks, the latest being last November and no problem. You do need to include a certified copy of your passport with the letter and they phone you on the number they have on file so if you've changed phone number you are bu66ered.

You are right. And this is still the case for Natwest Current Account holders like myself. Except they don't accept fax.

Here's a recap on how this has played out:

I mailed a letter as instructed by Natwest Customer Services to my local branch in the UK, requesting a SWIFT transfer to my Kasikorn Bank in Thailand.

Included in the letter were my email address and Thai mobile and I attached a copy of my passport.

Letter got held up by Iceland volcanic eruption and so, instead of instead of arriving on a Tuesday (mailed previous Friday) it was delivered on the Thursday that week. Nobody's fault. But unlucky.

Next, I received calls to my Thai mobile which I missed. They came through as "028" numbers and as such looked local to me and I was not able to return calls to these numbers.

Lesson: You must keep your mobile close so as to be available to pickup these calls.

After checking that the letter had been received but no action being taken by Natwest, I called them the following week (this week) on the Tuesday. Note: I called the local branch number listed on their website and internet. But this is in fact just another call centre (they call it Branch Help Desk) where a guy/girl will relay your concern to the bank on your behalf.

Lesson: You'll NEVER be able to contact/talk to your local branch directly either via phone or email and their staff are not allowed to contact you via email.

Later that evening I received another 028 call and picked up and recognised the voice as a lady from the branch. She informed of the previous calls and the fact that they are not allowed to write emails.

She went through some security questions and then said that when I could see the amount leave my account that it would be 4-5 days until I would receive the money at the Thai end.

Considering the considerable amount wasted by volcanic ashes and miscommunication I enquired as to the possibility of doing an express transfer instead of the requested standard transfer. She informed me, that since I had specifically put standard transfer in the letter that she was not authorised to change this.

I have yet to see the money arrive. Lesson overall is still the same: Change to a more modern bank. The problem is, I don't really know anyone in the UK who are happy with the service their bank offers at the retail level.

Can anyone confirm that HSBC offers international transfers via their online banking service as standard? How much is it?

BTW, Natwest charges £20 for a standard SWIFT transfer and £27 for express. Their Customer Services misinformed me that it would be £10 (stupidly I knew this was incorrect but thought it might have changed and hence put down a request for standard rather than express).

Here's how it breaks down for me:

The cost of taking out £3000 from ATM:

15 x £12 (fees etc.) = £180 = 9000THB

The cost of transferring £3000 via SWIFT:

DHL 1200THB + Natwest 1000THB + KBank 500THB = 2700THB

I save 6300THB (plus/minus whatever happens to the exchange rate over the coming months).

Add to that frustration, time spent, calls to UK and I'm not sure it's worth the hassle.

Edited April 29, 2010 by schmutzie

[Dave the Dude]

HSBC International do let you transfer monies online, I have done it, but unlike NatWest(non International) they have a minimum balance requirement for this 'specialised' kind of expat service. Having worked for NatWest for 26 years not much here suprises me

All I would say is unlike EVERY bank in Thailand, if someone fraudulently steals money from your a/c via ATM, at least you will be repaid! I have this week, told the BKK bank to go forth, after the second batch of fraudulent withdrawals have been made from my (now Closed) account.

All Bank staff now are either Sales-People or uninterested short term Agency Staff. If you want good service, you must pay for it IMHO.

[REDRAM]

All banks in every country are nothing more than crooks without a mask!

Bank of America SUCKS!

I'm afraid all the UK banks are much the same.

[buddy]

All banks in every country are nothing more than crooks without a mask!

Bank of America SUCKS!

I'm afraid all the UK banks are much the same.

You got it spot on, ALL BANKS ARE THIEVES...trillions of free money pumped into them by your respective Governments and the little man and his family for generations has to pay the thieving Banks back the money that has been borrowed without permission in his name...you couldn't dream it up!

[apetley]

UK banks are so far behind it is quite scary. AFAIK None of the onshore banks allow you (online) to transfer money internationally. However, acounts in Spain, Germany, France (personal experience of those) do allow you to do international transfers online. Even Natwest private banking (op mentioned this) doesnt allow online transfers internationally.

RBS international does allow international transfers online.

But, it is now refusing (inline with other UK banks) to send credit cards to thailand. I pointed out that had sent me my last one 3 years ago but said that must have been a mistake. Natwest wont send debit cards either. However, banks in the rest of europe dont have any problem with this.... And are they losing money through fraud than the UK banks ? Not that i know of....

Sending money online from my UK HSBC account to my Kasikorn account is simplicity itself and invariably there next working day.

Edited April 29, 2010 by apetley

[schmutzie]

UK banks are so far behind it is quite scary. AFAIK None of the onshore banks allow you (online) to transfer money internationally. However, acounts in Spain, Germany, France (personal experience of those) do allow you to do international transfers online. Even Natwest private banking (op mentioned this) doesnt allow online transfers internationally.

RBS international does allow international transfers online.

But, it is now refusing (inline with other UK banks) to send credit cards to thailand. I pointed out that had sent me my last one 3 years ago but said that must have been a mistake. Natwest wont send debit cards either. However, banks in the rest of europe dont have any problem with this.... And are they losing money through fraud than the UK banks ? Not that i know of....

Sending money online from my UK HSBC account to my Kasikorn account is simplicity itself and invariably there next working day.

Ah, thanks. I'm still trying to digest this fact without projectile vomiting.

Oh well. Stupid me for not setting aside the time to look into all this before departure.

Edited April 29, 2010 by schmutzie

[schmutzie]

BTW, they've now initiated the transfer, but appear to have charged me £32.50 for the pleasure rather than £20.

Here goes another 1000baht in calls to their Customer Services to try and fix that one...

B-o-r-i-n-g.