Natwest Gold Package Bank Reclaim

Hi folks,

I have made a claim with natwest about a package account reclaim. I was 18 when I took out the bank account in 2008 after moving from Barclays were I had gotten myself in a financial situation by drawing money out as the cash machine was letting me over obviously going over drawn with no over draft. I felt the best thing to do was to get my wages paid into another bank and then pay off Barclays with a payment plan I had arranged.

I explained this to the branch when I took the account out. Also I was not earning a great deal of money. I was worried about my credit score and told thw lady in branch about this. She advised me that it I take out the gold account then this would improve my credit rating and also would be the only way I could have an overdraft and bank with them if I had an advance gold account.

I went into my local branch on the 5th October 2017 and was informed this was not the case and it sounded like I had been mis sold the account.

I knew I had the account however I did not know I was paying 17 pound a month I thought it was around £12 a month. I have cancelled the account and made a claim as instructed.

I have never used the service and at the time they would not of benefited me as I could not afford to go on holiday. Only the last few years I have been in the position to do this and always taken out travel insurance. My mobile phone insurance has always been with my network that I pay for, I have even claimed with my network. The car break down I have always had an aa membership so never used this either.

I have obtained information from natwest that the bank account was changed on July 2012.

I have been reading the forums about time bar. The question I have is am I to late for the claim or would the time of three years be from when I found out.

My disput was how I was mis sold.

I was just wondering if anyone could give me some advice really.

Thanks.
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Comments

  • dunstonh
    dunstonh Posts: 116,038
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    Natwest have been sending out annual benefit statements which can allow them to apply a timebar. However, these were staggered out and you may not have hit the timebar point yet.

    The only way to find out is to make your complaint and see what the outcome is.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • I've made a claim just was wondering if anyone had been in the same situation. Thank you though.
  • Mersey_2
    Mersey_2 Posts: 1,679 Forumite
    edited 14 October 2017 at 10:11PM
    Green002k wrote: »
    I've made a claim just was wondering if anyone had been in the same situation. Thank you though.



    Yes, I successfully reclaimed packaged account fees from NatWest for the same account. Incidentally - as well as being a valid complaint reason - it's also untrue (if you were told, 'that it was the only way to have an overdraft' with NatWest).


    The 3 year time bar is known as 'date of knowledge' in civil matters and from your post you arguably became aware of the apparent mis-selling on 5th Oct 2017.
    Please be polite to OPs and remember this is a site for Claimants and Appellants to seek redress against their bank, ex-boss or retailer. If they wanted morality or the view of the IoD or Bank they'd ask them.
  • Thanks for that. I can't not believe I was so silly. When I have been to the bank for a loan for a car 18 months ago in the branch, they never even went through with me then to even see it the package account I benefited from. At this point I paid of my overdraft off and got rid of it to.
  • Just to give everyone an update I am still waiting a response.

    I made a telephone call on Thursday to chase it up, spoke to an advisor who in formed me I could still use the things on the account as I am still covered until the end of the month although i cancelled the account and received comformation of this on the 5th October. He has also kindly made me aware they are taking another payment of nearly 15 pound at the end of the month. I have folllwed this up with an email to natwest complaints department as again this is incorrect I feel.

    I have asked why the charges do no show on my mobile phone banking as this is what I use. They could not really respond to this. It does not show as a direct debt, standing order or when go back through transitions does not show as a payment either.
  • Mersey_2
    Mersey_2 Posts: 1,679 Forumite
    Yes, that is an error that NatWest had promised to rectify in 2016.


    Indeed monthly fees for both packaged accounts and overdraft use appear as "charges" on statements too.
    Please be polite to OPs and remember this is a site for Claimants and Appellants to seek redress against their bank, ex-boss or retailer. If they wanted morality or the view of the IoD or Bank they'd ask them.
  • Been waiting five weeks now and still heard nothing back. Not sure if this is a good thing or bad thing. Anyone else had to wait for this long? I know it can take up to 8 weeks.
  • [Deleted User]
    [Deleted User] Posts: 35,242
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    Green002k wrote: »
    Not sure if this is a good thing or bad thing.

    It's neither.
    Green002k wrote: »
    Anyone else had to wait for this long?

    Many people wait up to 8 weeks. Some longer.
  • Just wanted to update. I had a phone call this morning from natwest they said they would be investigating and asked me loads of questions. This afternoon there is over 1600 pound paid into my bank account.
  • Mersey_2
    Mersey_2 Posts: 1,679 Forumite
    Well done for pursuing it.
    Please be polite to OPs and remember this is a site for Claimants and Appellants to seek redress against their bank, ex-boss or retailer. If they wanted morality or the view of the IoD or Bank they'd ask them.
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