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  • FIRST POST
    • bluemooner64
    • By bluemooner64 1st Mar 17, 11:02 AM
    • 5Posts
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    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
    • 4,757 Posts
    • 4,498 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
    • 6,378 Posts
    • 7,815 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
    • 505 Posts
    • 340 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
    • 2,694 Posts
    • 2,090 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?
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    • eskbanker
    • By eskbanker 19th Jun 17, 3:23 PM
    • 4,757 Posts
    • 4,498 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
    • 37 Posts
    • 27 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
    • 501 Posts
    • 40 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
    • 6,290 Posts
    • 3,356 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
    • 6,290 Posts
    • 3,356 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
    • 4,757 Posts
    • 4,498 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
    • 6,290 Posts
    • 3,356 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
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