Nat Worst

According a quotation attributed to Mark Twain, ‘a banker is a fellow who lends you his umbrella when the sun is shining and wants it back the minute it begins to rain’. Based on my experience with NatWest Bank, I am inclined to agree wholeheatedly.

For almost forty years, I have been a loyal NatWest customer  even forgiving them for their disgraceful contribution to the Global Financial Crisis and the irresponsibility of the  former RBS Chief Executive, Fred Goodwin aka ‘Fred The Shred’ and formerly, Sir Fred. I gather the poor soul is existing on his £342,000 a year pension from the bank according to a recent newspaper article. I do hope he gets his bus pass soon. I digress.

I have several deposit accounts as well as collective investment accounts as well as using several of their financial products. When I wanted to use my investments to make a property purchase, I asked for a very moderate increase on my overdraft facility for sixty days following the completion of the sale. This was purely a precautionary step in case of unexpected expenses. A mere formality I thought.

Instead of the instant approval I was expecting on account of my ability to keep a healthy balance on my four accounts and not using my overdraft facility in ten years, I was passed onto the ‘Really Helpful Banking Team’ for interrogation. After a series of questions some of very marginal relevance to my circumstances, My application was rejected. the main sticking point is that my income is not steady, I work for myself and receive fees and not a salary. The government and banks do not understand the nature of small businesses and their contribution to the UK economy funding many things including the RBS bailout.

So NatWest, as I do not meet your lending criteria (despite being very prudent). I regret to inform you that a forty year relationship is about to end as you do not meet the service criteria to qualify for my custom.