Signing up to an annual direct debit payment plan from your energy supplier is supposed to help prevent bill shock as your payments are spread equally throughout the year. But it might not work like that...
NatWest system problems hit millions
NatWest system problems hit millions
NatWest system problems hit millions
The bank blames a technical issue for massive customer inconvenience ahead of the weekend but promises people won't be left out of pocket.
Millions of NatWest customers are facing a second day of being unable to access their accounts, view updated balances and withdraw money that has been paid in following major problems with the bank's systems.
Individual and business account holders were left dumbfounded on Thursday as money failed to be credited and bill payments were not debited.
The problems also hit 100,000 Ulster Bank customers and a smaller number of Royal Bank of Scotland customers.
The glitch became apparent on Thursday morning when systems failed to update customers’ balances overnight.
NatWest has admitted that this is an "unacceptable inconvenience" for customers and says that it is continuing to try and fix it.
The bank has been keeping customers informed by regularly updating its Twitter account @NatWest_Help. It also kept over 1,000 NatWest branches open until 7pm on Thursday evening and opened them early at 8am this morning (Friday).
There have also been horror stories of house purchases not being completed because money was not in people's bank accounts at the time the purchase was due to be completed.
The bank in a statement on its website promised "that no customers will be permanently out of pocket as a result of this". If you urgently need to withdraw money contact your local branch, as there are reports of some people being allowed to make withdrawals if they can show they would normally receive a regular payment, such as a salary, at this time of the month.
Thinking about switching?
If you are a fed-up Natwest, Ulster Bank or RBS customer affected by this mess why not consider switching?
Both First Direct and Halifax offer £100 introductory bonuses for switching your current account to them. Halifax will also pay you £5 a month as long as you pay in £1,000 each month.
Meanwhile, the Santander 123 account pays you cashback on your direct debits.
More on current accounts
Santander 123 current account pays cashback on your direct debits!
Current accounts: Halifax relaunches £100 switching bonus
Co-operative Bank offers £100 incentive for taking out its Current account.
Packaged accounts: is your current account worth paying for?
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