Direct Debit for a Loan

[malamute]

ok - I'll keep it brief:

Natwest Loan (post 2007) last payment due Dec 2013. (yup I was in LOADSA debt!!)
Natwest current account currently facilitating the loan direct debit without any problems since it started.

Having a bank account sort out after years of debt and using the UE on several accounts (as shown in diaries bit) and I want to close the current account. I only use the current account to s/o the loan dd into from my day to day bank account so just wanted to get rid of the admin really and have the dd for the loan come out of my day2day bank account for the remainder of the term.

I've checked the loan T&Cs and it just said that the loan must be paid by dd - no probs.

Why won't they let me close the current account? and how can i make them accept the dd from another bank account - surely as long as it is paid by dd?

Thanks!!

[mgfboy]

Re: Direct Debit for a Loan

what have they actually said, I would change the DDI across to another account first , then close the account.

[malamute]

Re: Direct Debit for a Loan

they said I have to have it come out of a natwest bank account - its a "procedure"

[mgfboy]

Re: Direct Debit for a Loan

seems strange, but why don't you just set a standing order across from your normal current account and just forget about it. If the account has the one payment in and one out it will cost Natwest to keep it

[malamute]

Re: Direct Debit for a Loan

That's what I have at the moment and jut wanted to cut down on admin tht was all. Doesn't seem right to force me to keep a bank account I don't want just to service the loan. All the t&cs say are it must be paid by a dd.

But they did say if I want to pay off my loan early to give them a call!!! Yh ok whatever!!

[MrsD]

Re: Direct Debit for a Loan

you don't have to pay for this account do you?

I did the same when everything went boom for us, I shut down our current account, which was the same bank as the mortgage. i phoned and asked for DD details for the mortgage, they hummed and hawed and tried to argue and I just didn't let them, got the dd details and left the current account with a pound in it, so technically open but no money in it. we were a bit worried they'd whip the mortgage money for another debt. Calm and assertive usually works, and take no shit!

[CleverClogs (RIP)]

Re: Direct Debit for a Loan

take no shit!

Unless you can sell it to gardeners.

[malamute]

Re: Direct Debit for a Loan

you don't have to pay for this account do you?

I did the same when everything went boom for us, I shut down our current account, which was the same bank as the mortgage. i phoned and asked for DD details for the mortgage, they hummed and hawed and tried to argue and I just didn't let them, got the dd details and left the current account with a pound in it, so technically open but no money in it. we were a bit worried they'd whip the mortgage money for another debt. Calm and assertive usually works, and take no shit!

On the phone I'm getting nowhere - how did you win?

[MrsD]

Re: Direct Debit for a Loan

calm and assertive and took no shit!!

Why can't you do this?
If you can't sort it out for me I want to speak to the floor manager
If the floor manager can't sort it out, I want to speak to the duty manager
(there are always layers of stoopid managerial types)
if all else fails email the CEO, and ask why????? cos no one else can tell you

but calm and assertive all the time................

I also find it puts you in the driving seat if you address them as "young lady" or "young man", drives em wild, oh and not a bad idea to tell em you're recording the conversation, cos they will be.

also don't discuss anything else, just the facts, you want the account numbers and you want them now and you're not going until they either give you a very good reason why they can't accept DDs from another account or they give you the required info.

keep us posted, go get em
not a bad idea to phone around 8.00pm when the nightshift is coming in, can they be bothered??? probably not.

[malamute]

Re: Direct Debit for a Loan

Mmmmmm sounds like its worth a try.....defo worth it.

Will keep you up to date.

[pompeyfaith]

Re: Direct Debit for a Loan

When moving accounts and keeping the old one open with a £ in it make sure you have no OD facility attached to it.

Regards

[malamute]

Re: Direct Debit for a Loan

UPDATE!!!

I Got My Way!!!!

I rang the service centre and made it it was a chicken or egg situation - basically playing branch off against loan service centre:
They won't change my loan dd with an open current account but won't close my current account with an active loan dd - so went it to branch and said that I was told by loan service centre (phone) that I had to change the dd in branch and then close the account (no o/d facility).

Set up a dd tfr form and all done!!!

BYE BYE NATWEST!!!!! (subject to me waiting for loan to be paid up).

I am proof this forum is amazing!!!! Thank you everyone!!! You gave me the confidence to spk to branch staff and call centre staff knowing I was right.