Natwest Sucks....

netola

I have an account I use very rarely. Purely by accident, I'd gone overdrawn on my account by £7.27. Looking back through my statement I can see where the mistake was. It was caused by me withdrawing £10.00 from a cash machine. As a course of habit; I always check my statement before withdrawing anything (as most people do). So when I withdrew the £10, I didn't realise I was going into the red with the transaction AND the cash machine did not say anything about insufficient funds.

As I mentioned, I don't use this account very often. So I'm thinking about making a purchase online and go to my online banking (which I've not checked since Mid Jan. I have had no reason to as I thought I was ok.

Wrong... No, Natwest (because I'd gone £7.27) and we're now on the 30th of March have charged me the princely sum of £195.00 + a further £180 at the end of this month! That's a staggering £375! :mad:

UNBELIEVEABLE - This wrong on so so so so ******* many levels... - I have received NO Notification of any charges in any way... it was only by chance I looked at my account today!

Natwest... you robbing *******£*""!!"£

Anyone else agree? - Any advice would be gratefully recieved.

Lori007

Oh - I was overcharged on my NatWest Credit Card last month for being 1 day late with payment (my fault I accept - did on line and hadn't taken the 2 day weekend into account) so paid £35 overcharge. I then received this months bill on Monday of this week and have been charged and additional £9 - phoned to ask why since I had made my payment 14 days early this time (pay off card each month) and it turns out that if you are late one month they charge for two - apparently it is in the small print. I kicked off about this and said I would cancel my card (have been with them for donkeys years) and they immediately refunded amount. I personally think this is a con being penalised for 2 months but, to be fair, hadn't read all the small print and got caught - will NEVER get caught again!

BigBlueBadger

I think you would need to check your statement a little more closely as you wouldn't have been able to withdraw £10 from the cash machine unless that money had been available in your account at the time. There must have been something else that was pending that pushed the account over once it debited.

Agree the charges are very high, but NatWest sent out notification to all customers late last year to confirm the new charging structure which would take effect from February 2011. If your account goes overdrawn (without an overdraft limit) or exceeds an overdraft limit by more than £6 then you are charged £6 for each day your account is over.

NatWest don't monitor your account. You do! There are text alerts you can register for which will inform you if your account is about to go overdrawn or the day after it has, to help you minimise charges. If you have online banking and have kept your email address up to date, then you will get an email confirming your statement and pre-advice of charges and interest is available to view online.

I could only suggest ringing NatWest and explaining the situation. They may offer you a gesture of goodwill and agree to reduce the charges. However, as this does not appear to be a bank error, they are not obliged to. I would suggest monitoring your account more closely in future. NatWest do provide tools to help you keep track.

sgolfguy

BigBlueBadger wrote: »

I think you would need to check your statement a little more closely as you wouldn't have been able to withdraw £10 from the cash machine unless that money had been available in your account at the time. There must have been something else that was pending that pushed the account over once it debited.

Agree the charges are very high, but NatWest sent out notification to all customers late last year to confirm the new charging structure which would take effect from February 2011. If your account goes overdrawn (without an overdraft limit) or exceeds an overdraft limit by more than £6 then you are charged £6 for each day your account is over.

NatWest don't monitor your account. You do! There are text alerts you can register for which will inform you if your account is about to go overdrawn or the day after it has, to help you minimise charges. If you have online banking and have kept your email address up to date, then you will get an email confirming your statement and pre-advice of charges and interest is available to view online.

I could only suggest ringing NatWest and explaining the situation. They may offer you a gesture of goodwill and agree to reduce the charges. However, as this does not appear to be a bank error, they are not obliged to. I would suggest monitoring your account more closely in future. NatWest do provide tools to help you keep track.

You sound like a Natwest representative. Ok he's clearly in the wrong, but does he deserve to punished with £375 worth of charges? NO.

I am in the same situation, I have recently been overseas and came back to find a dormant account went £20 in the red, I then learned I had a total of £280 in charges because of this.

I phoned Natwest and they have agreed to reduce that figure by £180, but I am STILL being charged £6 a day. I am now unemployed and £6 a day is most of my daily benefit entitlement.

Outrageous, from now on I will be using a prepaid card to make all recurring payments.

Rupert_Bear

netola wrote: »

I have an account I use very rarely. Purely by accident, I'd gone overdrawn on my account by £7.27. Looking back through my statement I can see where the mistake was. It was caused by me withdrawing £10.00 from a cash machine. As a course of habit; I always check my statement before withdrawing anything (as most people do). So when I withdrew the £10, I didn't realise I was going into the red with the transaction AND the cash machine did not say anything about insufficient funds.

As I mentioned, I don't use this account very often. So I'm thinking about making a purchase online and go to my online banking (which I've not checked since Mid Jan. I have had no reason to as I thought I was ok.

Wrong... No, Natwest (because I'd gone £7.27) and we're now on the 30th of March have charged me the princely sum of £195.00 + a further £180 at the end of this month! That's a staggering £375! :mad:

UNBELIEVEABLE - This wrong on so so so so ******* many levels... - I have received NO Notification of any charges in any way... it was only by chance I looked at my account today!

Natwest... you robbing *******£*""!!"£

Anyone else agree? - Any advice would be gratefully recieved.

What a silly billy. Of course its Natwests fault, Isn't it!

jon_boy75

I think his point is that the charges are excessive. An oversight by the OP should not really cost them £375. It doesn't reflect the actual cost to the bank

BigBlueBadger

Am not a NatWest representative, am just a NatWest customer and know exactly how the account works. I take note of anything the bank sends me so I don't get caught out. It's easy to plead ignorance.

I agree the charges are excessive, and wasn't disputing otherwise. Hopefully NatWest will offer a gesture of goodwill.

Culex

netola wrote: »

I have an account I use very rarely. Purely by accident, I'd gone overdrawn on my account by £7.27. Looking back through my statement I can see where the mistake was. It was caused by me withdrawing £10.00 from a cash machine. As a course of habit; I always check my statement before withdrawing anything (as most people do). So when I withdrew the £10, I didn't realise I was going into the red with the transaction AND the cash machine did not say anything about insufficient funds.

As I mentioned, I don't use this account very often. So I'm thinking about making a purchase online and go to my online banking (which I've not checked since Mid Jan. I have had no reason to as I thought I was ok.

Wrong... No, Natwest (because I'd gone £7.27) and we're now on the 30th of March have charged me the princely sum of £195.00 + a further £180 at the end of this month! That's a staggering £375! :mad:

UNBELIEVEABLE - This wrong on so so so so ******* many levels... - I have received NO Notification of any charges in any way... it was only by chance I looked at my account today!

Natwest... you robbing *******£*""!!"£

Anyone else agree? - Any advice would be gratefully recieved.

How can they possibly justify such charges?

Culex

BigBlueBadger wrote: »

Agree the charges are very high, but NatWest sent out notification to all customers late last year to confirm the new charging structure which would take effect from February 2011. If your account goes overdrawn (without an overdraft limit) or exceeds an overdraft limit by more than £6 then you are charged £6 for each day your account is over.

At one time, the penalty imposed for such blatant usury (a potential APR of 36,500%!) would be for the culprit(s) to be locked in the public pillory for a day or two, there to be pelted by the mob with mud, rotten fruit or stones.

I believe it is a penalty that should be revived.