Mis-sold my bank account - help!

99point99

STUPID QUESTION EVERYONE!

Would anyone believe me if I told them that I was mis-sold my bank account?

I would never have opened it up with Natwest had I had known I was going to incur thousands of pounds worth of charges?! Perhaps they should have lent responsibly and not given me an overdraft...and should have explained the dangers of going past the overdrawn limit.

Am I being a complete nut or does this actually make sense?!

_Andy_

Surely you (and indeed them) wouldn't have know that either, as it would have depended on your account conduct.

99point99

Yes completely agree with you, however the banks' relentless regime of charges forced my conduct to be erratic.
Banks did not at any point explain how costly it could be to stray into arrears or inform me that it could cost me in excess of £100 per day to go over the limit. As they do say that 'these are service charges', surely they would have explained in detail upon opening my account that I might incur massive service charges?! They mentioned nothing about the cost of any of these services.

If they had I perhaps would have done a rethink and not taken out an overdraft.
In fact I dont remember even being asked if I wanted an overdraft.

Premier_2

Were you provided with the terms and conditions including all the appropriate charges when you opened the account?

If so, you have not been mis-sold simply because you used the services on offer and were therefore charged accordingly.

_Andy_

I appreciate your frustration but to be completely honest you're clutching at straws and aren't going to get anywhere with the 'mis sold' argument - I'm not saying that in the sense of having a go at you, purely that any complaint on the basis you mention would go nowhere and just be wasting your own time (as well as that of the bank, FSO etc)

99point99

When I took out my 1st bank account - I honestly thought I was receiving FREE BANKING. There was no mention of any actual costs. Nobody explained this to me at all.
It wasn't until a couple months in when I noticed hundreds of pounds missing out my account that I realised that I was being billed for services which I had not been informed about and which caused dispruption in my finances. I did call to complain however they continued to bill me for these services leading me to believe that I had been missold the entire account actually.

LeeSouthEast

Next time someone says "sign here", I strongly urge you to read what you're signing. Every charge is detailed in the Terms and Conditions.

dunstonh

I would never have opened it up with Natwest had I had known I was going to incur thousands of pounds worth of charges?!

I'm sure Natwest wouldnt have acted on your request to open a bank account if they knew you were going to run it so badly.

Perhaps they should have lent responsibly and not given me an overdraft...and should have explained the dangers of going past the overdrawn limit.

Perhaps you should have spent responsibly and not gone into the overdraft. However, your charges are almost certainly because you tried to exceed your overdraft and the bank wouldn't allow it.

You need to take personal responsibility for your actions and your spending. It is not the job of a bank to do that.

natweststaffmember

99point99 wrote: »

STUPID QUESTION EVERYONE!

Would anyone believe me if I told them that I was mis-sold my bank account?

I would never have opened it up with Natwest had I had known I was going to incur thousands of pounds worth of charges?! Perhaps they should have lent responsibly and not given me an overdraft...and should have explained the dangers of going past the overdrawn limit.

Am I being a complete nut or does this actually make sense?!

Can I ask what TYPE of account you were given?(there is a specific reason for me asking this but your response will dictate my response).
What made you choose that TYPE of account?
As Premier has asked, did they give you any leaflets explaining the terms and conditions and the charges that are made on the account?