Card made available to allow children to shop via the Internet

A new card has been launched that could allow children aged just thirteen to make purchases via the Internet. Kids will be able to shop online as well as make cash withdrawals on the debit style card. Read more

Tags: new card, Automated teller machine, natwest, The card, industry, make, Go card, day

Possible good news for NatWest customers

There could be some good news in the pipeline for customers of the bank, NatWest, if they have been trying to reclaim past overdraft charges that were applied to their accounts. Read more

Tags: Natwest's 2001 charges, judge, andrew smith, natwest, bank, overdraft

Does your critical illness policy cover breast cancer?

Every year many women in the UK take out critical illness insurance cover, and most think that this will cover them if they are diagnosed with critical illnesses such as breast cancer, which could result in them being unable to work or earn an income.

However, recent research has revealed that critical illness policies do not provide cover or protection if the policyholder is diagnosed with a specific – and common – form of breast cancer known as ‘ductal carcinoma in situ’.

According to insurance providers, this is a form of breast cancer that is usually caught in its early stages and can therefore be treated, hence cannot really be construed as critical. Insurance companies also claim that the diagnosis of this form of breast cancer is so common that it would simply cost them too much to cover this particular form of cancer. However, for those with critical illness policies, who are then diagnosed with this cancer and unable to work, this is of no help at all.

One woman explained that she was diagnosed with the cancer, which is normally treated through major surgery or a mastectomy, and ended up having to sell her home and downsize in order to pay off her debts after being unable to work and earn money. She stated that when she tried to claim on her policy she was told that this form of breast cancer was not covered, but stated that she was never told this when policy was sold to her by NatWest.

An official from NatWest stated: ‘ Unfortunately, this policyholder’s illness is not covered by her policy. The brochures which she admits she received when she first took out the policy clearly state that there are exclusions to the type of cover the policy provides. They also emphasise the importance of checking the accompanying guide to serious illness cover for more detailed definitions of the cover.’

Tom Smith
28th September 2007

Tags: natwest, cover, policy, serious, critical, illness, Insurance, cancer, breast

The Big Four not up to scratch state experts

Industry experts have stated in a recent report that the four biggest UK banks are not living up to required standards when it comes to offering value and service to customers, despite the fact that they are raking in huge profits each year. Read more

Tags: which, lloyds tsb, bank accounts, natwest, barclays, hsbc

Bank says there is a “lack of understanding” in offshore banking

Offshore banking suffers in the UK from a “lack of understanding”, NatWest said today.

Traditionally thought of as offering tax benefits and little else, the bank says that offshore banking gives the customer a raft of advantages if they have “international requirements”, and that the service had “changed” over the past decade.

Head of international private banking for NatWest Julian Gouge said that those who retired abroad might have particular reasons to bank offshore, though he admitted that “there is a degree of complexity” to the understanding of the international taxation systems which is necessitated by the service.

“It’s [about] having an understanding of what you’re doing and when you’re going, in the same way that you would medical facilities or whatever before you go overseas” he added.

“Like all the things, the majority of people think it’s probably best to look at these things beforehand, and the tax is no different.

“I think there probably is some nervousness using them, but just because there’s a lack of understanding if anything,” Mr Gouge surmised.

Tags: Private banking, Taxation, natwest, Legal entities, Banking

Should I Open A Business Account?

Good to do business

If you are self employed you will either be a sole trader, (somebody who works on their own), or you will be running a small company. If you are the latter the likelihood is you will be a limited company and will probably have a business account for all your transactions. But as a sole trader, should you open a business account? Read more

Tags: Payment systems, natwest, self employed, business banking, business accounts, t/a palmer plumbing