Natwest Hardship Claim

GlennyNat

Just received this letter today from Natwest. My previous letter to them including proof of some debts after previously sending a income/expenditure form and my last letter also said i would be unable to pay anything into my overdrawn Natwest account till this is sorted.



"I refer to recent correspondence in relation to your financial hardship. Your request has been assessed and conformed subject to regular token repayments as appropriate. This arrangement can continue, if required, until the result of the OFT and UK banks court case outcome is known. In accordance with these arrangements please now return the servicecard/cashcard that you have in your possession along with any unused cheques. For security reasons, please cut the card in two before posting. Alternatively these may be handed into their local branch for forwarding onto this office. If you have already disposed of the card please sign and return the declaration below within the next 10 days.

Until the result of the charges test case is known we can confirm that no further charges or interest will be applied to your account. Please cancel and Direct Debits/Standing Orders that you are unable to meet. Please contact us on the above number to discuss making payments to your account.

A refund of charges has been agreed. Upon receipt of the active service/highline card, an offer letter will be sent from our customer response unit in Edinburgh confirming the amount.

I advise that the refund process can take upto 21 days."




What does this all mean exactly? I don't use the card anymore and have an OD of £1200 which is over its limit by £30 after another charge went out. My claim is for approx £3000 with interest.

ThinkingOfLinking

From what I can make of it, they're freezing the account but also saying your custom is no longer welcome, hence them asking you to return your card and cheques.

natweststaffmember

GlennyNat wrote: »

Just received this letter today from Natwest. My previous letter to them including proof of some debts after previously sending a income/expenditure form and my last letter also said i would be unable to pay anything into my overdrawn Natwest account till this is sorted.



"I refer to recent correspondence in relation to your financial hardship. Your request has been assessed and conformed subject to regular token repayments as appropriate. This arrangement can continue, if required, until the result of the OFT and UK banks court case outcome is known. In accordance with these arrangements please now return the servicecard/cashcard that you have in your possession along with any unused cheques. For security reasons, please cut the card in two before posting. Alternatively these may be handed into their local branch for forwarding onto this office. If you have already disposed of the card please sign and return the declaration below within the next 10 days.

Until the result of the charges test case is known we can confirm that no further charges or interest will be applied to your account. Please cancel and Direct Debits/Standing Orders that you are unable to meet. Please contact us on the above number to discuss making payments to your account.

A refund of charges has been agreed. Upon receipt of the active service/highline card, an offer letter will be sent from our customer response unit in Edinburgh confirming the amount.

I advise that the refund process can take upto 21 days."




What does this all mean exactly? I don't use the card anymore and have an OD of £1200 which is over its limit by £30 after another charge went out. My claim is for approx £3000 with interest.

It means that once you return the card and cheque book for the account that they will be sending out an offer to you which will include freezing the interest and charges on the account.

natweststaffmember

Flickering_Ember wrote: »

From what I can make of it, they're freezing the account but also saying your custom is no longer welcome, hence them asking you to return your card and cheques.

I just wanted to clarify this. I would agree with you if this was not a bank charges case and financial hardship. It maybe that the account has incurred a lot of unpaid cheques and guaranteed card payment fee charges which is why they are asking for them to be returned. I do wonder whether they will issue a cashcard instead. Furthermore, all non essential DD/SO's being cancelled is a fairly reasonable approach. The OP can make token payments ie £1 or £10 a month to it.

ThinkingOfLinking

Ah, ok, that seems reasonable, NWSM. It also sounds realistic so I'll agree with you.

GlennyNat

Just to update,

I yesterday received a new cash card but have been downgraded to a solo account. Just waiting on my offer letter to come through :beer:

GlennyNat

Just got my offer letter through today.........

£2467!!!

bukko

That sounds like a made up number
Is there any clue as to how they came to that amount?
Thanks...

GlennyNat

Not got a clue! My claim is for £2452.50 plus interest of £580.80. It looks like they are going to pay me back all my charges minus the interest and then depending how the test case goes i will get the rest.

I don't care how made up the figure is from them its made my day!


Anyone have any ideas on how long it will take from me sending the letter? It never mentions any timescales. Also it doesn't mention if the bank will pay straight into my account? If they do i imagine they will take my overdraft away? This is fine as i was going to pay this off anyway.

sarkate

I have requested that £202 be refunded to me following unfair bankcharges since Dec '08. I have claimed financial hardship, filled in and returned forms for this and yesterday received the same letter as above. I was confused as to why I have been asked to return my "Servicecard". Natwest say they will send me a new "Cashcard", but I am worried this will only be a cashcard and not be able to use it as a debit card. After they have received my cut up card and unused cheques (of which i do not have), they will send me their offer of a refund. At the bottom of the letter it states that "Until the result of the charges test case is known we can confirm that no further charges or interest will be applied to your account".

So I thought I would come here to ask, if anybody knows:
1. Will I receive just a cashcard which cannot be used with chip and pin?
2. If I go over my overdraft limit, Natwest will not charge me any more?
3. Is it in my best interest to return my card to discover their £offer? There is no other option?

Thanks, Sarah

natweststaffmember

sarkate wrote: »

I have requested that £202 be refunded to me following unfair bankcharges since Dec '08. I have claimed financial hardship, filled in and returned forms for this and yesterday received the same letter as above. I was confused as to why I have been asked to return my "Servicecard". Natwest say they will send me a new "Cashcard", but I am worried this will only be a cashcard and not be able to use it as a debit card. After they have received my cut up card and unused cheques (of which i do not have), they will send me their offer of a refund. At the bottom of the letter it states that "Until the result of the charges test case is known we can confirm that no further charges or interest will be applied to your account".

So I thought I would come here to ask, if anybody knows:
1. Will I receive just a cashcard which cannot be used with chip and pin? Solo card will be issued to you.
2. If I go over my overdraft limit, Natwest will not charge me any more? yep that's correctamundo
3. Is it in my best interest to return my card to discover their £offer? There is no other option? NatWest are complying with the FSA Waiver as I see it so the choice is there for you, either return card and make the bank aware you have no cheque books(to avoid any further delays) OR do not accept it and get nothing.

Thanks, Sarah

Hope that helps Sarah, but the response is a reasonable response. They are trying to make sure you do not exceed the overdraft by reducing the risk of you going overdrawn.