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    • Green002k
    • By Green002k 14th Oct 17, 2:39 PM
    • 6Posts
    • 6Thanks
    Green002k
    Natwest Gold Package Bank Reclaim
    • #1
    • 14th Oct 17, 2:39 PM
    Natwest Gold Package Bank Reclaim 14th Oct 17 at 2:39 PM
    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.
Page 1
    • dunstonh
    • By dunstonh 14th Oct 17, 3:39 PM
    • 89,883 Posts
    • 56,562 Thanks
    dunstonh
    • #2
    • 14th Oct 17, 3:39 PM
    • #2
    • 14th Oct 17, 3:39 PM
    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). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • Green002k
    • By Green002k 14th Oct 17, 3:56 PM
    • 6 Posts
    • 6 Thanks
    Green002k
    • #3
    • 14th Oct 17, 3:56 PM
    • #3
    • 14th Oct 17, 3:56 PM
    I've made a claim just was wondering if anyone had been in the same situation. Thank you though.
    • Mersey
    • By Mersey 14th Oct 17, 11:09 PM
    • 1,634 Posts
    • 780 Thanks
    Mersey
    • #4
    • 14th Oct 17, 11:09 PM
    • #4
    • 14th Oct 17, 11:09 PM
    I've made a claim just was wondering if anyone had been in the same situation. Thank you though.
    Originally posted by Green002k


    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.
    Last edited by Mersey; 14-10-2017 at 11:11 PM.
    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.
    • Green002k
    • By Green002k 15th Oct 17, 10:28 AM
    • 6 Posts
    • 6 Thanks
    Green002k
    • #5
    • 15th Oct 17, 10:28 AM
    • #5
    • 15th Oct 17, 10:28 AM
    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.
    • Green002k
    • By Green002k 21st Oct 17, 12:27 PM
    • 6 Posts
    • 6 Thanks
    Green002k
    • #6
    • 21st Oct 17, 12:27 PM
    • #6
    • 21st Oct 17, 12:27 PM
    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
    • By Mersey 21st Oct 17, 2:31 PM
    • 1,634 Posts
    • 780 Thanks
    Mersey
    • #7
    • 21st Oct 17, 2:31 PM
    • #7
    • 21st Oct 17, 2:31 PM
    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.
    • Green002k
    • By Green002k 6th Nov 17, 9:00 PM
    • 6 Posts
    • 6 Thanks
    Green002k
    • #8
    • 6th Nov 17, 9:00 PM
    • #8
    • 6th Nov 17, 9:00 PM
    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.
    • zx81
    • By zx81 6th Nov 17, 9:04 PM
    • 14,386 Posts
    • 15,173 Thanks
    zx81
    • #9
    • 6th Nov 17, 9:04 PM
    • #9
    • 6th Nov 17, 9:04 PM
    Not sure if this is a good thing or bad thing.
    Originally posted by Green002k
    It's neither.

    Anyone else had to wait for this long?
    Originally posted by Green002k
    Many people wait up to 8 weeks. Some longer.
    • Green002k
    • By Green002k 17th Nov 17, 8:19 PM
    • 6 Posts
    • 6 Thanks
    Green002k
    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
    • By Mersey 23rd Nov 17, 9:40 PM
    • 1,634 Posts
    • 780 Thanks
    Mersey
    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.
    • lorbury
    • By lorbury 29th Nov 17, 3:13 PM
    • 1 Posts
    • 1 Thanks
    lorbury
    natwest packaged account claim refused
    Hi all,

    I have banked with Natwest since 1990. I had a regular free current account until 2008 when I needed a bigger overdraft. I spoke with an advisor on the phone who told me if I changed to a platinum account I could have a £5000 overdraft, so I switched. In December 2009 I had a folder sent about my account(which I promptly filed in the back of the cupboard without reading - stupid I know). Anyway after having the account for years I discovered the benefits associated with the account - if I had read the folder I would have known a year after opening the account. Last year I decided to try and claim my packaged account charges - this was rejected as it had taken more than 6 years from knowing the product detail - namely the folder sent in 2009 - they said it didn't matter that I wasn't told of the benefits in 2008. I accepted the decision - my own stupidity at not reading the folder. A few months ago I took out a loan to pay off the overdraft so that I could change to a free account. I was online looking at the account info and an advisor offered me online advise - I asked if once I paid off my overdraft could I change to a free account - the reply was yes. I then went on to ask that if I did not pay off my overdraft could I still change to a free account - I was surprised the answer was yes. Have I left it too late to take my complaint further - Natwest clearly said I needed this account for my overdraft yet they are now saying I did not need it - regardless of the account being more than 6 years old I feel they definitely missold the account - surely they should be held accountable for that?

    Thanks for any advise
    • dunstonh
    • By dunstonh 29th Nov 17, 3:37 PM
    • 89,883 Posts
    • 56,562 Thanks
    dunstonh
    Last year I decided to try and claim my packaged account charges - this was rejected as it had taken more than 6 years from knowing the product detail - namely the folder sent in 2009 - they said it didn't matter that I wasn't told of the benefits in 2008. I accepted the decision
    The timebar seems consistent with what you would expect.

    . Have I left it too late to take my complaint further
    Yes. You were you told you were timebarred already. That will remain the case forever more.

    egardless of the account being more than 6 years old I feel they definitely missold the account - surely they should be held accountable for that?
    Timebars exist in law to prevent people making complaints years down the line when it may be hard for a firm to defend that complaint. Or where the complaint may be a try-it-on in the hope that the paperwork no longer exists.

    Whether you were missold or not, you are timebarred. Its game over.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • Mersey
    • By Mersey 30th Nov 17, 1:19 AM
    • 1,634 Posts
    • 780 Thanks
    Mersey
    Hi all,

    I have banked with Natwest since 1990. I had a regular free current account until 2008 when I needed a bigger overdraft. I spoke with an advisor on the phone who told me if I changed to a platinum account I could have a £5000 overdraft, so I switched.


    A few months ago I took out a loan to pay off the overdraft so that I could change to a free account.


    I was online looking at the account info and an advisor offered me online advise - I asked if once I paid off my overdraft could I change to a free account - the reply was yes. I then went on to ask that if I did not pay off my overdraft could I still change to a free account - I was surprised the answer was yes.


    surely they should be held accountable for that?

    Thanks for any advise
    Originally posted by lorbury


    Yes, what you were told - that a PBA was needed to have an overdraft - was untrue (see upthread); but, sadly you are time barred now re the Platinum Acc (PBA) reclaim.


    I suppose you could complain (especially if your loan is also with the RBS Group) that you have incurred unnecessary consequential losses such as loan interest or time spent online, based on that misinformation, but the main issue is now long gone for yourself.


    customer.relations@natwest.com usually prompts a written reply in the post within a couple of weeks.
    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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