NatWest and Barclays had the most number of complaints about decisions to close bank accounts last year
- NatWest received 274 customer complaints about account closures last year
- This was the same for Barclays, according to the Financial Ombudsman Service
NatWest had the joint highest number of complaints about decisions to close bank accounts last year.
There were 274 customer complaints about the bank shutting accounts during the 2022-23 financial year – and the same number for Barclays, according to data from the Financial Ombudsman Service.
NatWest was the most complained about bank for the past three years received 108 and HSBC 106.
In total, the Ombudsman received 1,389 complaints about account closures last year, most of which were linked to the UK’s largest banks.
While the data did not explain why the accounts were closed, it is likely to put pressure on NatWest as it continues to reel from the fallout of the scandal sparked through a decision by its private banking arm Coutts to close the account of former Ukip leader Nigel Farage due to his political views.
There were 274 customer complaints about Natwest shutting accounts during the 2022-23 financial year
The number was the same for Barclays, according to data from the Financial Ombudsman Service
The Government has announced plans to change the rules around bank account closures, including giving customers longer notice of an impending shutdown and potentially loosening checks around so-called ‘politically exposed people’.
However, some have warned that such changes would need to be carefully considered to avoid helping criminals.
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