A NatWest customer in Worcestershire faced difficulties accessing £20,000 held in First Saver accounts for their children. The accounts were established in trust by the customer's mother when the children were born, with monthly contributions intended to fund their university education.
Despite the customer holding financial power of attorney for their mother, who is in the final stages of Alzheimer's, they were unable to access the funds. The bank reportedly stated that the mother's consent was required for the children to access the accounts.
The customer reported receiving various unhelpful suggestions from NatWest, including setting up online banking in their mother's name without her consent. As a result of the delays, the family had to take out a bank loan to cover one child's university expenses. NatWest has since stated that the children now have access to their funds and compensation has been paid due to the delays, attributing the problem to a "lack of colleague awareness" of a "complex process."