When I joined RBS in 2017, I didn’t have to go into branch or have any issues signing up or using online banking. It was all pretty much same day or next. Maybe it was because I used my passport number as my ID etc.
The only thing they did make me wait for was my cheque book as they posted out a form for me to sign to prove my signature.
Just used the switching offer for my wife. Had to sign one letter and post it back. Logged in online and transferred some cash, £150 for my 15 mins of effort.
I run some of my bills through NatWest for the cashback. Salary goes into Monzo and then straight to NatWest to conver the DDs. It’s all automatic and I never actually need to log in or speak to NatWest.
Some of their systems are outdated and their stupid PIN terminal thing would drive me nuts. But since I never have to use them it doesn’t matter. It’s essentially free money for no effort and I still get the benefits of using Monzo.
I’m currently doing the same with firstdirect - they are offering £100 to join, and another £100 if after six months you “don’t like the way we do things” and close the account.
The delicious irony in this is that the account I am switching from is HSBC, just after they paid me another £50 as a loyalty bonus . Over the course of 18 months, that’s a free £400 from the HSBC group for setting up a few direct debits and standing orders!
I fully understand you pain @RyanKirk as I have used in the past NatWest for a year and I can truly say their internet banking and mobile app are the works I have used (and I have experienced banks from 3 countries now, Wester and Eastern Europe). Their system is very slow and I never fully understood what is the amount of money I actually have as usually payments too even 3 days to appear on my balance. I have since moved away from them and I am so happy.
Nevertheless, I see that Monzo is using them for international Euro payments. Very interesting to see how that goes:
NatWest is currently our correspondent bank. This means that payments to Monzo from other European banks in Euro get to us via NatWest.
But even the Monzo team is skeptical as they actually recommend TransferWize
Whilst we work to add the ability to send and receive international payments “natively”, through the app, we’d recommend using TransferWise for your international payments.
So I received a letter today from the Natwest Fraud Operations. Obviously deeply concerned, I phoned the number. Received a very disinterested lady who asked if I had opened up a bank account recently.
All she then told me was to take my documents to a branch to verify I am who I say I am.
Just a bit of a ridiculous process really (I get security is important and don’t take that away from the situation!) so the account switch is already in progress!
Went in with my partner on Friday wanting to cut down their overdraft. Turns out that by saying “can I cancel my overdraft completely” you end up getting asked “why?” and “maybe you should keep it for now it’s interest free” or being told to “reduce it to just £250 and keep that”.
Ultimately the problem was that my partner can’t reduce the overdraft below £250 online, and even when going to the branch the person we spoke to was refusing to remove it completely.
Needless to say, the CASS move to Monzo is in process currently.
I’ve been a NatWest customer as my main account and billing account for about 20 years. Having recently opened a Monzo account and seeing what was on offer, I can now see NatWest are definitely quite a way behind technologically. The ONLY reason I’ve not fully migrated to Monzo is the NatWest reward scheme you referred to. I know this is something Monzo is interested in doing so maybe I’ll completely move over at some point and I’m super keen to do so.
To be fair, I haven’t had any issues with NatWest as a bank but have never had need to test out their customer services etc so cannot really comment on that side of things.