NatWest Warning: Why Clients Should Check Bank Statements

A payment problem at the bank led to 112,000 customers discovering that they had been charged twice for certain payments

NatWest customers have been urged to check their bank statements after 112,000 customers discovered they had been charged twice due to a payment issue.

The error has meant some accounts are showing a lower than normal available balance, with some customers complaining that the error has pushed them into their overdraft.

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NatWest, TSB and Lloyds Banking Group have also announced a number of closures that will take place in 2022 (Photo: NIKLAS HALLE’N/AFP via Getty Images)

What did NatWest say?

The majority of NatWest customers will not be affected by the error, but said those who were charged twice will not be left behind.

In a service update, the bank said: “Some customer accounts are showing debit card purchases twice, and in some cases their available balance will be lower than it should be, we are very sorry for everything. inconvenience.”

Responding to a customer on Twitter, NatWest said: “We are aware that some NatWest customers’ accounts are showing certain Visa debit card purchases twice, and in some cases their available balance will be lower than it should be. .

“We are working to resolve the issue and will ensure that no customer is left behind. Our customers can rest assured that payments to retailers/merchants have only been made once, so there is no need to contact them. Please accept our apologies for the inconvenience.”

How do double payments occur?

The way we pay for things has changed dramatically over the past two decades and it used to take three to five days for payments to go through your account.

The introduction of a ‘faster payments’ system means that money can now leave your account and a successful transaction can be completed in five minutes, helping to reduce confusion about how much money you actually have on your account.

However, accounts may duplicate debit payments due to a problem in the bank’s payment system.

When paying through a “merchant terminal”, the machine you tap or type your PIN on may also mistakenly duplicate payments, or you may accidentally send a duplicate payment to the same person.

How to manage a double payment?

If you find that you have been charged twice or more for a single payment, contact your bank or card provider and explain the situation.

Getting a refund shouldn’t be a problem and the bank can usually resolve the issue immediately, as it should be clear to the card provider that the extra charge was the result of an error.

Payments are accompanied by codes and information that allow the company to see when and where the payment took place.

However, it may happen that the bank asks you to sign a document confirming that you have not authorized more than one payment, which usually happens when it comes to large amounts. For example, if a merchant terminal plays, a store could split the payout in half to pass it through.

Although this is quite unusual and there should be clear proof that you authorized the payment, either by entering your PIN or tapping the card.

If the amount you were charged is not what you authorized, the error is likely to be clear.

How can I avoid duplicate direct debits?

Checking your bank statements regularly is an effective way to check if you’ve been charged twice for something.

It’s only when banks spot their own technical issues or there’s a big mistake that they tend to notice a problem with duplicate payments, but if you notice something you don’t recognize, you should go through the appeal process to dispute the transactions.

Some payments may not seem familiar to you, but might make sense once you know more about them, so ask the payment system provider for as much information as possible if you are unsure if you made the payment .

Alternatively, you can turn to the Financial Ombudsman for any dispute involving a financial product, such as plastic cards and third-party payment systems, and the Ombudsman can also review your complaint free of charge.

Shawanda H. Saldana