goodwill gesture

martintorres

I have been pursuing Nat West bank regarding bank charges of Over £2000. I have been accepted as a hardship case and have finally been made a "goodwill offer" of £1650 which looks and sounds great. The trouble is Nat west have stipulated that it must be paid into "their account" which i know longer use. I stopped banking with them because of an unresolved dispute over a year ago and they have continued to add charges and interest and have even been charging me for their "advantage gold facility" monthly(even though I requested both in verbal and written format that it be terminated!). This has seen my overdraft soar to £1100, which is why I guess they have offered me the above amount so that they can duly snatch it back! According to my calculations the outstanding overdraft is more than covered by the interest(which i have not claimed) and charges that have accumulated over the past 6 years and also by the £500 odd pounds that is not included in their "offer". I have written to Nat west to point this and a few other details out and requested that the money they have offered to refund be paid into my current account at Abbey. Their reply was and I quote"I am unable to comply with your request for payment by another means.As your account *******with us remains open, any goodwill gesture must be paid directly into this account in accordance with our policy.If you wish to accept our offer please complete the attached form and return it to us. Please sign this without adding any further comments as this makes the acceptance invalid". I mean really, do they think that I am stupid? Surely there is no such policy in existence? How can they make an offer of money that they have admitted that they have deprived from someone and then attempt to dictate how they pay it back? Surely my "overdraft"(which is derived of the banks charges and subsequent interest) and my claim for charges are separate matters and should be dealt with accordingly? I have no doubt that they would be were the boot on the other foot! I would be most appreciative if anyone could advise me how to proceed from here as the CAB have not any further information regarding this. I have their "offer" in black and white, surely I should be able to request where my money is deposited? PLEASE HELP Thankyou for reading this

natweststaffmember

martintorres wrote: »

I have been pursuing Nat West bank regarding bank charges of Over £2000. I have been accepted as a hardship case and have finally been made a "goodwill offer" of £1650 which looks and sounds great. The trouble is Nat west have stipulated that it must be paid into "their account" which i know longer use. I stopped banking with them because of an unresolved dispute over a year ago and they have continued to add charges and interest and have even been charging me for their "advantage gold facility" monthly(even though I requested both in verbal and written format that it be terminated!).
Ok, this will be complicated. When did you request that the Advantage Gold account be changed to a non fee paying account?
Did you request it in writing or verbally and do you know who you spoke to or description of that person?(re read that bit, did you keep a copy of the written instruction? Did you complain at the time and what did they say?)
Do you remember whether the account at that time was within the overdraft facility or was it already over the facility?


This has seen my overdraft soar to £1100, which is why I guess they have offered me the above amount so that they can duly snatch it back! According to my calculations the outstanding overdraft is more than covered by the interest(which i have not claimed) and charges that have accumulated over the past 6 years and also by the £500 odd pounds that is not included in their "offer".
Did you claim from July 2001?

I have written to Nat west to point this and a few other details out and requested that the money they have offered to refund be paid into my current account at Abbey.
I would have said no to that even if you had asked that.
Their reply was and I quote"I am unable to comply with your request for payment by another means.As your account *******with us remains open, any goodwill gesture must be paid directly into this account in accordance with our policy.If you wish to accept our offer please complete the attached form and return it to us. Please sign this without adding any further comments as this makes the acceptance invalid". I mean really, do they think that I am stupid? Surely there is no such policy in existence? How can they make an offer of money that they have admitted that they have deprived from someone and then attempt to dictate how they pay it back?
Because under the FSA Waiver they do not have to pay it out in any shape, size or description. Personally there is a better way of asking which I will suggest at the end of the post.

Surely my "overdraft"(which is derived of the banks charges and subsequent interest) and my claim for charges are separate matters and should be dealt with accordingly?
Technically I would agree to a degree that the bank cannot make themselves the priority debtor but had they sent you a cheque then the money was still owed to natwest.
I have no doubt that they would be were the boot on the other foot! I would be most appreciative if anyone could advise me how to proceed from here as the CAB have not any further information regarding this. I have their "offer" in black and white, surely I should be able to request where my money is deposited?
I think you can but not perhaps how you are thinking
PLEASE HELP Thankyou for reading this

I think you need to ask the bank if they are able to pay directly to your creditors on hardship, ie priority debt arrears(rent/mortgage, council tax, utilities).
Ask them if that is possible or cheques payable to those priority debtors.

Unfortunately, I have heard stories of people spending Financial Hardship payouts on holidays and such like, and the whole point of the waiver is that it is to pay Priority debt arrears and NOT to fund any such holidays, etc,etc.
The bank at the same time, are not Priority debtors.

There are two things I want you to do. You have 2 complaints
1) advantage gold and that needs resolving
2) Financial Hardship payout and where the money goes.
Personally I would have done 1 and then 2 but we are going to have to do both. Did you complaint data when you did a Subject Access Request?