Is it worth complaining to Natwest

Citysam

Hello,

Appologies if this has been asked before but I'm new to this bit. Also bear with me because its a bit of a long story.

I am so frustrated with Natwest, I really feel that they have stitched me up financially. I have been with them about 8 years, I have a loan for £1600 which I have been paying no problems and I also have an £800 overdraft. The end of July they bounced a payment for £100 and charged me (I paid money in the same lunchtime) and everything has spiralled from there. August is always an expensive month for me due to summer holidays (I'm a single mum) which means extra childcare costs and days out, as well as new uniform etc. Then my car broke down which cost another £85 to fix.

So a couple more bounced payments later (inc £4 bounced = £38 charge) and I soon racked up £181 of charges due to come out mid September. I applied for a new loan on loan to nip it all in the bud, thinking if I up'ed it to £2500 I could clear off the loan & most of the over draft but it was rejected. So I went into the bank to speak to the Manager and asked if he could over ride the decision, pointing out my previously good history. He said not so I explained that these charges were due to come out so I was concerned about it adversely affecting my credit record. He said there was nothing he could do and I should speak to the collection centre in Birmingham, as they may be able to come up with a repayment plan for me. He was busy so he gave me the use of his office to call them and said he would be back in a bit. I called them, and had a very shirty man tell me that I shouldnt be using that number because it was for staff only. I told him the story to that point, he had a look at my account and said that it wasnt in their jurisdiction anyway and I should be dealt with at branch level.

SO then I went back to the manager and told him that. He said that there was nothing he could do, and I should go in again after the charges came out. That way the collection centre would deal with my account as I would be £181 over my overdraft. I asked if the damage would be done by then in relation to my credit history and he said yes!

I know this is all my fault for not handling my finances better, and I know that it has all been said before but it really was a temporary glitch. What annoys me though is the 'customer friendly' advert, and the leaflet they send with the notification of charges which said to speak to them if I needed help, and to do so sooner rather than later because burying your head in the sand doesn't help grrrr.

The point of all this is, with Martins latest article about complaining to banks - is it worth it? Could I acheive something or do you think it will fall on deaf ears? I did think about trying to reclaim under financial hardship, but as I am paying all my regular bills I dont think there is much point.

Thanks for reading all this :T

Kavanne

You could look at trying to reclaim charges on the basis of financial harship?

chambta

Unfortunately it's likely that people approaching difficulties are unlikely to be offered further credit facilities in terms of either a new loan (which generally isn't a solution) or an increased overdraft.

At branch level hands are tied and unless the account is taken on by the lending centre due to loan arrears or being significantly overdrawn there is often this situation where people want 'help' (which generally mean charges waiving) but no one seems to be able to.

stclair

Hi I'm sorry to hear of your story OP.

Firstly if a payment IE a Direct Debit takes you overdrawn you have a 15.30 grace period, to pay money into your account to cover the transactions that have debited your account on that day (which you did)

But i'm sure if many people realise that if you do pay money in before 15.30 you need to advise the cashier or contact lending. This will enable the cashier/lending to change the status of your payment to paid so you wont get charged and the payment will go through normally.

As the charges are so high now your account will possibly be with lending who possibly wont be very understanding on waiving your charges.
If you had of contacted them when you first had notification of the charges they may have been able to assist.

Under the circumstances you may possibly want to claim the charges back under hardship.

never-in-doubt

This situation is the prime example of why we are fighting the banks for cheaper charges and fairer charges. They are in clear breach of the Banking Code, in that they cannot charge you ridiculous amounts like that when the account was put into credit within the standard timeframe.

You need to be pointing out, in letter, that this is unacceptable behaviour and failure to act responsibly and in line with current banking regulation will leave you no alternative but to report this to the relevant authorities.

You should also be demanding all charges are reversed retrospectively and do not back down. I'd suggest opening a new account elsewhere asap and refuse to pay the charges and ensure you write in placing the account in dispute. Doing so stops them (legally) adding charges or chasing the alleged debt. This will buy you time to sort the complaint and claim compo at the same.

Just take it further - the bank is in the wrong and you have the proof by way of deposit receipt showing your credit before the 15:30hrs cut off right?

7sefton

I've not read your post fully because it's an area I have no experience in, but in general I would say it is definitely worth complaining to NatWest. I have complained to them twice about two relatively minor things - poor service from a member of branch staff and a long waiting time at reception desk - and both times had a swift reply with £50 goodwill gesture. I can't fault them on this front. One of the complaints was only sent by email too, really informally, and they still took it seriously.

Citysam

Thank you all! Its nice to hear that its not just me being melodramatic

Well, short term I have got a payday loan. I know its a bad thing generally, but its cheaper than the bank charge for going overdrawn...and even if it weren't, I am loathed for them to take any more money from me.

As the charges haves only kicked in over the last couple of months I don't think I even cover the "£500 over a year" interpretation of financial hardship, but I will put in a general claim for charges so it gets its place in the queue.

After all your advice I will write them a letter of complaint. It might not get me anywhere, but it certainly felt good getting it off my chest here so it can only make me feel even better ranting directly to them :j

Thanks again all!