Packaged Bank Account from the 90's

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bluemooner64
bluemooner64 Posts: 5 Forumite
in Budgeting & bank accounts
I had an RBS Royalties and then a Royalties Gold account in the 1990's and am wondering if I can go back that far to claim?

I no longer have statements which could be a problem but do have the account number.

Any ideas out there?
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  • eskbanker
    eskbanker Posts: 31,034 Forumite
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    If you're thinking of trying a claim for mis-selling then you need to do so within six years of the alleged mis-selling or within three years of when you ought reasonably to have been aware of it (such as when you closed it, which would implicitly mean you knew it wasn't right for you).
  • PeacefulWaters
    PeacefulWaters Posts: 8,495 Forumite
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    For two decades you failed to understand what you were paying a monthly fee for?

    Well played!
  • Flobberchops
    Flobberchops Posts: 1,279 Forumite
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    Meh, try your luck. There's a chance RBS won't have the energy to contest it.

    Finding records of fees from that far back could be difficult though... unless you kept all the statements.
    : )
  • socks_uk
    socks_uk Posts: 2,813 Forumite
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    Did you have any joy with this Bluemooner?

    I too had a Royalties Gold account I was told I had to have for my bank loan (which I have already claimed back PPI payments on).

    I looked on the Resolver tool but there are no Royalties accounts listed but I do have bank statements so have the account numbers.
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  • eskbanker
    eskbanker Posts: 31,034 Forumite
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    socks_uk wrote: »
    I too had a Royalties Gold account I was told I had to have for my bank loan (which I have already claimed back PPI payments on).
    Was the loan available on the same terms to those without Royalties Gold accounts?
  • LuxuryWoman
    LuxuryWoman Posts: 156 Forumite
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    I was 'upgraded' to the Barclays additions account in 1998 as I was told it was the only way they would give me an overdraft facility. I held it for a couple of years before cancelling. I complained in 2014 and was refunded.


    They did a real hard sell on these accounts at the time, walking up the bank queues switching people, bak then mobile phone ownership wasn't as much a part of life as now so that packaged insurance wouldn't have been any use for me, I didn't drive so no need for breakdown cover and didn't travel as I had just bough my first home so all money went there.


    I had tried to complain over the years but was told it didn't come under the same rules as PPI but finally they started looking at these accounts. At the same time I was sold this account they also said I must have 'Overdraft Protection insurance' I was repaid £8k for that in the end, also 2014
  • philng
    philng Posts: 801 Forumite
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    What a joke! You have paid for something for 20 years & you didn't know what it was or had the inkling to ask before now????
    Any claim in my view is bordering on fraud. No doubt you have used or had the benefit of travel insurance, breakdown cover etc. on which you may never have claimed so you now feel entitled to claim.
    It's like having home insurance for 20 years & never claiming and feeling entitled to claim back the premiums.
  • stclair
    stclair Posts: 6,844 Forumite
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    eskbanker wrote: »
    Was the loan available on the same terms to those without Royalties Gold accounts?

    Historically the loans was available at a lower interest rate if you had a royalties gold account.
    Im an ex employee RBS Group
    However Any Opinion Given On MSE Is Strictly My Own
  • stclair
    stclair Posts: 6,844 Forumite
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    Flobberchops wrote: »
    Meh, try your luck. There's a chance RBS won't have the energy to contest it.

    Finding records of fees from that far back could be difficult though... unless you kept all the statements.

    They will just send a letter detailing limitations act as per post 2.
    Im an ex employee RBS Group
    However Any Opinion Given On MSE Is Strictly My Own
  • eskbanker
    eskbanker Posts: 31,034 Forumite
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    stclair wrote: »
    Historically the loans was available at a lower interest rate if you had a royalties gold account.
    ....which would confirm my suspicion and cast doubt on the legitimacy of claiming misselling if customers were correctly told that they'd save money by using the packaged account.

    Do you happen to know what the differential would typically have been between the loan rates available to RG and non-RG customers, and what the breakeven point (for loan size) would have been for the reduced interest to offset the monthly fee?
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