NatWest Releases Blocked Trust Funds After Training Failure

NatWest Group released approximately £40,000 in trust accounts for two children and provided compensation after blocking the family's access to the funds. The bank had prevented a parent from accessing the money after the accounts' settlor, the children's grandmother, developed advanced Alzheimer's disease.

Despite the parent holding financial power of attorney for the grandmother, bank staff repeatedly insisted that the grandmother's personal consent was necessary to release the funds. This impasse forced the family to secure a bank loan to pay for university expenses.

NatWest attributed the error to a lack of colleague awareness regarding a complex process and cited a training issue. The bank resolved the matter and granted access to the funds following the publication of the family's grievance.