Bank charges and P'ment protection

Rich_wannabe!!

Hi everyone!

I've been reading about people claiming back bank charges and cancelling their p'ment protection.

How do I go about doing this and can I calim back from my credit card providers as well as my bank?

I have an RBS account and and RBS credit card, do I have to do seperate letters?

Also, (whilst I think on) RBS charge me £6 per month for a royalties account. They just stuck me on it. Can I cancel? I don't use any of the benefits. Or is this just a standard account?

Sorry for perhaps being a bit dumb! Just slowly trying to work through this minefield and become debt free!!

Many thanks!!

CLAPTON

you can claim back certain penalty charges from both overdrafts and credit cards...see this site for comprehensive details
http://www.consumeractiongroup.co.uk/forum/

bare in mind that before you reclaim from your bank you may wish to open another a/c (with a different company) in case RBS decides to close your existing one

you can cancel PPI on credit cards easily...phone them up, but if you have loans its not always possible.

as far as RBS loyalties a/c is concerned, i have no specific knowledge of them but i'm sure you could transfer to a standard one if you dont use any of the feature (cheap overdraft?)...why not look at their web site to see the range of a/cs? (but of course you may want to open a new a/c elsewhere)

if you are struggling with debt why not consider posting a statement of affairs on this boards.

dave318

Richwanabe, I was on the Royalties Gold, account, but only because my overdraft was so much and the preferential rate made it worthwhile, and it had free travel insurance. If you don't use them, cancel it. It is £6 better in your pocket every month.

Also, just started on my route to reclaim bank charges. Asked them to send me my statements and details of charges. You can do it with credit cards as well, so have a go.

Cancel the payment protection. I had trouble with Moneyback Bank over this. They are the lowest rate loans and we took one out for £5000 over a 12 months, back in January this year. They were determined that we would need to buy payment protection insurance. It would have been another £50-60 per month on top of payments, which was nearly as much as the interest we would pay over all.
My wife just told them to forget the whole thing as we both had 6 months worth of full sick pay, and we had equity in the house should anything further go wrong. (IN A YEAR!!!!).

Needless to say, they phoned her back 5 minutes later offering us the loan without PPI. They will try anything to sell you this as it is their commision as well as profit for the companies. They are probably on a bonus for sell so much as well. Get rid of it if you feel you don't need it.