NWest Advantage Gold Fee

pete22

How is the current £12.95 fee for NatWest's Advantage Gold account charged? I had assumed this was calender monthly, but is it calculated on a daily basis instead?

I was charged on the 31 March 2009 for £12.95. I then appear to have received two further charges in April, one on the 29 April - £2.15, the other on the 30 April for £12.95.

It's the £2.15 charge that concerns me. When I phoned to query this amount, I was told that the date I am charged for the Advantage Gold fee had changed. Rather than being the end of each month, it would coincide with the date my statements are sent (8 of each month). The difference between the dates attracted the fee of £2.15!

Should I assume then the the Advantage Gold fee is charged on a daily basis and not a recurring one-off calender month charge?

Further I would think that if this change in policy affects all customers, then all will be receiving varying additional fees dependant on when their statements are normally issued.

I'm annoyed because the dates at which my charge is deducted hasn't appeared to have changed. It's still the end of each month (31 March & 30 April both £12.95)!

naijapower

I think you ought to dispute this with them. Doesnt sound logical to me. Let them explain and justify how they arrived at this

pete22

Thanks naijapower

I intend to, but rather than phone, I'll write and see what their written response says on this. I'd certainly want clarification as to how the fee is charged, monthly or otherwise.

Although the amount in question is minor, I don't want to be unfairly charged.

willo65

The charges now debit your account 21 days after your statement date. Before the charging periods would be something like 01 april to 30 april but now if your statement is 08 april then you will have had 01 april to 08 april giving you the part charge and will then continue as 09 april to 08 may etc etc. - hope this helps

pete22

willo65 wrote: »

The charges now debit your account 21 days after your statement date. Before the charging periods would be something like 01 april to 30 april but now if your statement is 08 april then you will have had 01 april to 08 april giving you the part charge and will then continue as 09 april to 08 may etc etc. - hope this helps

Thank you willo65, I can begin to understand the logic of what has happened.

I expect there will be an increase in the number of calls to Natwest call centres shortly as customers discover this additional (and unlabelled), charge on their statements.

Quite why they have decided to abandon the more intuitive calendar month charging period in favour of this method leaves me mystified.

The cynic in me makes me ask that since NatWest have decided to charge this customer for a daily period, whether he will be able to retrospectively claim for the months of February, September, April, June & November ;-) (28 & 30 days respectively).

It still annoys, because for the month of April, I have paid £15.10 (£12.95 + £2.15), for a date change I haven't asked for.

Why was I charged £12.95 on the 30 April and not the 29?
Will I receive my next charge for £12.95 on the 31 May or the 29?

You might say, "well why don't you read the periodic changes in account terms which arrive occasionally?" In my defence, I would say that it took (3) separate calls to my local branch, to (3) separate advisors, before they were able to tell me what this charge was for! They hadn't a clue initially...

It leaves a nasty taste in the mouth, it feels to me (as an end user), that NatWest are taking advantage of this one-off opportunity to take additional funds from their Advantage Gold customers. Perhaps not intended but enough to make me want to take my business elsewhere, even if just for £2.15.

Not called Advantage Gold for nothing is it?

KarmurKameleon

Hi Pete,

I am an Advantage Gold customer and I was charged on March 31st and April 30th. I received no smaller charges in between.

willo65

pete22 wrote: »

Thank you willo65, I can begin to understand the logic of what has happened.

I expect there will be an increase in the number of calls to Natwest call centres shortly as customers discover this additional (and unlabelled), charge on their statements.

Quite why they have decided to abandon the more intuitive calendar month charging period in favour of this method leaves me mystified.

The cynic in me makes me ask that since NatWest have decided to charge this customer for a daily period, whether he will be able to retrospectively claim for the months of February, September, April, June & November ;-) (28 & 30 days respectively).

It still annoys, because for the month of April, I have paid £15.10 (£12.95 + £2.15), for a date change I haven't asked for.

Why was I charged £12.95 on the 30 April and not the 29?
Will I receive my next charge for £12.95 on the 31 May or the 29?

You might say, "well why don't you read the periodic changes in account terms which arrive occasionally?" In my defence, I would say that it took (3) separate calls to my local branch, to (3) separate advisors, before they were able to tell me what this charge was for! They hadn't a clue initially...

It leaves a nasty taste in the mouth, it feels to me (as an end user), that NatWest are taking advantage of this one-off opportunity to take additional funds from their Advantage Gold customers. Perhaps not intended but enough to make me want to take my business elsewhere, even if just for £2.15.

Not called Advantage Gold for nothing is it?

It is part of a bigger change to charges they are bringing in - to start it is effecting Packaged account fees and mainetencance fees and Paid referral fees - this is then going to be extended in next few months to cover unpaid fees. I believe the reason it is changing is that at present if you have a d/d bounce then instantly you get £38 fee on account but with changes to come in you will get 21 days notice of fee via statement so will help people in difficulties as the £38 won't take you over limit causing another charge. - hope this make sense

pete22

KarmurKameleon wrote: »

Hi Pete,

I am an Advantage Gold customer and I was charged on March 31st and April 30th. I received no smaller charges in between.

That's interesting! I wonder what other Advantage Gold customers experiences have been? Or whether I am "unique" in having this special AG privilege!

willo65

http://www.natwest.com/content/global_options/terms/NW_Personal_Private_Keeping_you_informed_20090130.pdf

pete22

Thanks for the above information. But I'm no longer a NatWest customer.

willo65

pete22 wrote: »

Thanks for the above information. But I'm no longer a NatWest customer.

That seems a little hastie(sp) but hope you have much luck with your new account.