Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • bluemooner64
    • By bluemooner64 1st Mar 17, 11:02 AM
    • 5Posts
    • 1Thanks
    bluemooner64
    Packaged Bank Account from the 90's
    • #1
    • 1st Mar 17, 11:02 AM
    Packaged Bank Account from the 90's 1st Mar 17 at 11:02 AM
    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?
Page 1
    • eskbanker
    • By eskbanker 1st Mar 17, 1:08 PM
    • 5,282 Posts
    • 5,038 Thanks
    eskbanker
    • #2
    • 1st Mar 17, 1:08 PM
    • #2
    • 1st Mar 17, 1:08 PM
    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
    • By PeacefulWaters 1st Mar 17, 3:23 PM
    • 6,700 Posts
    • 8,231 Thanks
    PeacefulWaters
    • #3
    • 1st Mar 17, 3:23 PM
    • #3
    • 1st Mar 17, 3:23 PM
    For two decades you failed to understand what you were paying a monthly fee for?

    Well played!
    • Flobberchops
    • By Flobberchops 2nd Mar 17, 10:38 PM
    • 539 Posts
    • 373 Thanks
    Flobberchops
    • #4
    • 2nd Mar 17, 10:38 PM
    • #4
    • 2nd Mar 17, 10:38 PM
    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
    • By socks_uk 19th Jun 17, 1:46 PM
    • 2,693 Posts
    • 2,091 Thanks
    socks_uk
    • #5
    • 19th Jun 17, 1:46 PM
    • #5
    • 19th Jun 17, 1:46 PM
    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.
    Did you wonder where the photo was taken?
    Somewhere above the clouds over Germany on the way back from Prague August 2009!
    Hand typed by me!
    -x-
    • eskbanker
    • By eskbanker 19th Jun 17, 3:23 PM
    • 5,282 Posts
    • 5,038 Thanks
    eskbanker
    • #6
    • 19th Jun 17, 3:23 PM
    • #6
    • 19th Jun 17, 3:23 PM
    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).
    Originally posted by socks_uk
    Was the loan available on the same terms to those without Royalties Gold accounts?
    • LuxuryWoman
    • By LuxuryWoman 20th Jun 17, 8:19 AM
    • 55 Posts
    • 38 Thanks
    LuxuryWoman
    • #7
    • 20th Jun 17, 8:19 AM
    • #7
    • 20th Jun 17, 8:19 AM
    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
    • By philng 20th Jun 17, 9:31 AM
    • 515 Posts
    • 42 Thanks
    philng
    • #8
    • 20th Jun 17, 9:31 AM
    • #8
    • 20th Jun 17, 9:31 AM
    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
    • By stclair 20th Jun 17, 9:48 AM
    • 6,354 Posts
    • 3,381 Thanks
    stclair
    • #9
    • 20th Jun 17, 9:48 AM
    • #9
    • 20th Jun 17, 9:48 AM
    Was the loan available on the same terms to those without Royalties Gold accounts?
    Originally posted by eskbanker
    Historically the loans was available at a lower interest rate if you had a royalties gold account.
    I Work For the RBS Group
    However Any Opinion Given On MSE Is Strictly My Own
    • stclair
    • By stclair 20th Jun 17, 9:51 AM
    • 6,354 Posts
    • 3,381 Thanks
    stclair
    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.
    Originally posted by Flobberchops
    They will just send a letter detailing limitations act as per post 2.
    I Work For the RBS Group
    However Any Opinion Given On MSE Is Strictly My Own
    • eskbanker
    • By eskbanker 20th Jun 17, 10:30 AM
    • 5,282 Posts
    • 5,038 Thanks
    eskbanker
    Historically the loans was available at a lower interest rate if you had a royalties gold account.
    Originally posted by stclair
    ....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?
    • stclair
    • By stclair 20th Jun 17, 4:46 PM
    • 6,354 Posts
    • 3,381 Thanks
    stclair
    ....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?
    Originally posted by eskbanker
    Sorry I can't remember the terms now it was quite a while ago.

    I do know for certain though that RG customers got a preferential rate on loans and overdrafts.
    I Work For the RBS Group
    However Any Opinion Given On MSE Is Strictly My Own
    • SilverArrowUK
    • By SilverArrowUK 28th Jul 17, 11:31 AM
    • 13 Posts
    • 1 Thanks
    SilverArrowUK
    The CO OP bank say no!
    Now this is something I dont understand The coop bank have said to me that I wasn't mis soled this package bank account but cannot give me details of who soled this to me or what conversation took place, they said I had a normal bank account back in 1993 and then in 2001 I changed it to a privileged bank account. where I paid a fee, now they are telling me that I had an overdraft of £200.00, they said if you want a loan or a credit card you can get one by getting this account, so I did they also said that my overdraft would be better. In 24 years of being with them, my overdraft has always been 200.00 a month and every time i have put in for a loan on their web site they have said no and every time i have asked for a credit card they have said no.

    I put in to reclaim this and they have blown me out and said that they sent me the terms and conditions, however they did know when I took this bank account out that I was dyslexic and I cannot see black ink on white paper and asked them to sent these out in yellow paper or lica paper they have in all these years taken not one bit of ntoiced and sent them out in the black and white, I did change them about this and they said they didn't have a record of this but then admit they knew I was dyslexic. I told them its not good sending me things in this format i cant read it.

    they said that they had all the paperwork on my accounts but someone was telling me thats odd that used to work in the bank after 7 years they would not have that info, they would have your account details they can go back 5 years but anything before that, they would not have anything on how you took these out only the dates you had.

    they are also telling me that the private account starting in2001 but looming on here it says these accounts have been around since the 1990's.

    they said that i did this over the phone, but then i told no i am sure this was done in the branch , but if it was done over the phone then it wouldn't have been, i have short term memory problems and i would not have remembered the call.

    its now gone to the ombudsman because they wont back down, but now they have said to me in a letter again in black and way that i can cancelled my account with them, or i can leave it as it is or i can get an overdraft with a 200.00 overdraft and these are the things i can do, i mean why would i have a bank account that i had to pay for for all these years? they also send me a txt of the letter they said that they sent to me back in 2001 when they said i joined this but they didn't have the actual letter and more just the text, i said you could have made that text up at any time, i said as yo seem to have all this info on my i want to see the letter you send me, they said they haven't got it.
    • eskbanker
    • By eskbanker 28th Jul 17, 2:43 PM
    • 5,282 Posts
    • 5,038 Thanks
    eskbanker
    When submitting a mis-selling claim, it's always worth making it clear and concise, explaining exactly why you contend it's mis-selling and including pertinent factual information in support of your case. This will probably sound harsh but unfortunately, if the claim was anything like as rambling and unfocused as your post, it's likely that you won't have made a strong enough argument. Did you read the MSE article or any other guidance before claiming?

    However, if it's now been referred to the FOS, it's too late to change it and you'll just have to see what they say. Strictly speaking, even if they don't come down on your side, you'd still have the option of taking the bank to court if you're completely convinced of mis-selling and confident of being able to articulate this in a compelling way, but generally FOS is seen as the end of the line.

    I must confess that I'm not familiar with exactly what the obligations are for organisations dealing with those who have difficulty reading specific colour combinations, but do you have someone who can help you with reading problematic correspondence (even if you feel you shouldn't have to)?
    • SilverArrowUK
    • By SilverArrowUK 1st Aug 17, 1:42 AM
    • 13 Posts
    • 1 Thanks
    SilverArrowUK
    No I dont sorry, my mother passed away some years ago I have no one in the world to help me, thought I didn't like the fact that you referred to me as rambling, its people like you that looks like you worked in the banking business at some point ignore people with disabilities, well if you can see them ,we must not have them
    • eskbanker
    • By eskbanker 1st Aug 17, 11:33 AM
    • 5,282 Posts
    • 5,038 Thanks
    eskbanker
    I didn't like the fact that you referred to me as rambling
    Originally posted by SilverArrowUK
    I didn't refer to you personally as rambling, I was simply pointing out that the style of what you wrote on here mixed up irrelevant stuff with the points you needed to make when making a complaint to a bank about this, so if your complaint was similar then it would be less likely to succeed.

    its people like you that looks like you worked in the banking business at some point ignore people with disabilities, well if you can see them ,we must not have them
    Originally posted by SilverArrowUK
    Your casual and lazy (and inaccurate) stereotyping looks very much like the sort of thing you're accusing others of!

    Anyway, I wasn't (and am not) trying to pick a fight, I was trying to offer constructive help, but as per the previous post, it sounds like the ball is in the FOS's court, I hope it works out for you....
    • The-Truth
    • By The-Truth 1st Aug 17, 11:49 AM
    • 443 Posts
    • 513 Thanks
    The-Truth
    i mean why would i have a bank account that i had to pay for for all these years?
    Originally posted by SilverArrowUK
    Yeah that's a good question. Why did you?

    By the way you know it's not the banks fault you had this for that long without questioning it don't you?

    And the colour problem you mention. Well you obviously know you suffer form this condition so you would have have many chances for someone else who can actually read things to explain the terms you were getting into but yet you failed to have done this. That's not the banks fault, you know you have that problem!
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

3,514Posts Today

4,439Users online

Martin's Twitter