Can I have charges repaid by cheque?

nashod

Hi, I have recently been offered all my charges back with the interest which is fantastic but they want to repay it into the account they took the charges from. I have an overdraft and I think they will simply reduce my overdraft by this amount which in one sense is great as I won't have to pay it back at a later date. However I have recently lost my job and could really do with the cash as I have mortgage and other payments to make. Can I get the bank (Natwest) to send me a cheque and if so how do I do this as they say they want to return to the original account. All advice gratefully received.

natweststaffmember

nashod wrote: »

Hi, I have recently been offered all my charges back with the interest which is fantastic but they want to repay it into the account they took the charges from. I have an overdraft and I think they will simply reduce my overdraft by this amount which in one sense is great as I won't have to pay it back at a later date. However I have recently lost my job and could really do with the cash as I have mortgage and other payments to make. Can I get the bank (Natwest) to send me a cheque and if so how do I do this as they say they want to return to the original account. All advice gratefully received.

The bank charges have to go into the account where they came from. The bank does have the first appropriation of the funds so if the account is over the limit then they legitimately can repay themselves so to speak. They can't reduce the overdraft to £0 after a refund without that being part of the deal to refund and you are happy to do that since the FOS would take a dim view of that.