Natwest charging to close account

unhappyvirgincustomer_2

Hi,

I am trying to close my Natwest account as really had enough of them and I received a letter from the account switching unit saying I was 25.90 overdrawn. I was a little confused as checking my online banking my balance is zero! So i rang the telephone banking and they said can't see anything and should go into the branch and ask.

So I have jsut got back from the branch and showed them the letter to which they said you are overdrawn it says so in the letter and I told them I am not and have not been for months and months since I cancelled my overdraft. They then looked on the computer and said oh you have to pay the next 2 installments of the advantage gold fee in advance so I said ok then I will cancel it.

She said no you cannot do that so I said so you are charging me 2 months fees to cancel my account and she said i have to pay in advance. I said I will not be paying that and would like to cancel and once again she said I couldn't.

I ended up saying I will not be paying said goodbye and walked out.

I can't find anything online about cancelllation charges for advantage gold so wondered what should I do?

Should I pay it to get rid of them them claim the bank charges they owe me (many hundreds of pounds) and include the fees I was forced to pay for their supposed better rate of interest on my loan which is totally wiped out by the £12.95 I have been paying for the last few year or just accept they have ripped me off and walk away?

You advice would be gratefully received

willo65

Cancel the adgold and then close account paying any outstanding amounts.

ShelfStacker_3

Erm... so you have Advantage Gold, you went overdrawn because of the fees, and now you don't want to pay the overdraft?

Right.

unhappyvirgincustomer_2

No I am not overdrawn!

My account balance is zero but natwest are trying to charge me the next 2 months of advantage gold account fees (i.e March and April).

KILL_BILL

is there a minimum term contract for this ?

i used to have this type of account 5 years ago and i canclled straight away and was not charge - but might have changed now.
Alot of places are trying to get people stuck into 12 or 18 month contract or state that you have to give 30 days notice and the like

unhappyvirgincustomer_2

Hi,

Not sure if minimum term but can't find terms and conditions online. If 30 days notice that means should only pay 1 month surely?

willo65

I think it's charged in arrears this is why.

noh

willo65 wrote: »

I think it's charged in arrears this is why.

Yes it is charged in arrears. If you closed your account today you would owe 2 months fees for January and February.
A table detailing charging periods and dates charges are debited is available here in section 8 on page 19

http://www.natwest.com/content/global_options/terms/Guide_Fees_Interest.pdf

Nigel

unhappyvirgincustomer_2

Hi,

Thanks for posting the link to the charges that has really helped clear it up. I owe the 12.95 for last month plus the 30 days notice makes sense. Just gonna pay it to get rid of the account as natwest have been nothing but trouble since i opened it!

Gonna put a claim in for the charges over last few years anyway which more than make up for it as over the threshold for my debt level so should be able to claim something.

Thanks very much