Being hauled in front of MP’s to explain your banks actions is something most bank bosses will dread, however many of them have been, and have been asked to explain what went wrong with their Bounce Back Loan lending facilities or why they acted in the way they did with some customers.
Now, when it comes to NatWest, over the last nine months or so the most common complaint I have been sent has been about them approving Bounce Back Loans then at some point in time after they have paid them out, they have closed the accounts of those customers, and not given them access to their funds.
If you have the time watch some of my Timeline Videos, they give an overview of some of the messages including complaints I have received about banks each week the scheme has been in existence.You will find over a thousand individual messages on them, I have received a huge multiple of that number, but those videos will give you some idea of the complaints sent in to me.
By doing so you will see day after day I received complaints about NatWest doing what I have mentioned above and leaving many people distraught, some without food, others angry and confused, and Natwest would refuse to give them a decent reason why they chose to close their accounts.
As for whether they were all fraudulent customers/applications, well many who did get the boot from NatWest have gone on to get accounts then loans with other banks, I have seen enough proof of that with my Followers on Twitter, I did notice one pattern with those declined, and that was their ethnicity, which needs investigating by those in power.
One MP did step forth and ask Paul Thwaite, CEO of Commercial Banking, NatWest Group why his bank did so, quoting an article in the Guardian which (among many other newspapers) covered that story in an article.
Amazingly Paul appears to be blissfully unaware NatWest had been featured in the press and did not appear to have any explanation why his bank acted in the way they did.
He and his bank do have questions to answer moving forward, for once you approve a Bounce Back Loan and pay it out, then snatch it back you often leave that customer unable to then go on to get another one in most cases.
Anyway, once again watch the video below and make you own mind up as to whether Paul Thwaite has his finger on the pulse of what is going on at his bank on his watch, and you can read the Guardian story here.
Keep in mind that when someone does approach me with a complaint I often, if they are in agreement, will reach out on their behalf to one of my many journalist and MP followers or lurkers, and ask them to investigate and step in and help, and many people do get their complaints sorted out with their help, proving that many banks that are part of the scheme are making error after error but sadly if those subject to one do not get someone “batting” for them they have very little chance of getting them sorted out speedily.