Natwest Advantage Gold account

steveo999

A while ago I upgraded my Natwest account to an advantage gold account.

It coss me £14 a month, I get free travel insurance and mobile phone insurance amoungt other things but these are the only ones i currently use and I also have a £700 overdraft facility with them which has no fee.

What I want to know is this worth the £144 a year im paying? im guessing no but are there any other cheaper comparable accounts?

Halifax have offered me a current account with a interest rate of 5.12% which sounds ok, but as I my balance is always 0 come the end of the month im not sure this interest rate will affect me much.

Can anyone advise?

SimonW

Hi Stevo,

I understand that you think it is not worth paying for the Advantage Gold features on your account and given that you can get an annual multi-trip policy for around £40 (benefits are likely to be different though) and a mobile phone can be insured with the mobile operator for around £5 month then it looks like you're not fully benefitting from account's features, but there are other features to the account, like reduced interest rates on the overdaft and the natwest credit cards plus many more (take a look at the account website for the full benefits)

I think, and maybe some one will correct me if i'm wrong, but you can remove the advantage gold feature from your account, so that you are back with the classic account and don't pay anything to use the account.

I'd phone your branch and ask about removing the advantage gold from your account.

Hope this helps,

Simon

kenshaz

I just believe that these accounts are pants ,by shopping around on this site you can get all the facilities cheaper and safe £168,Martin has done an article,I would normally provide a link ,but some posts do not like links to Martins articles ,I thought it was useful for those new to the site.

topbombing

the advantage gold acct is not pants. it is excellent if you utilise it. a waste of money if you dont.

yes you get commission free currency and freemobile phone insurance, as well as 10k accidental death cover.but its more useful in the long run if you take out any loans or mortgages, 1% off any loan can be quite substantial if your borrowing somehting like 10k.

btw, its £12 a month!

and thats my first post done. thanks!

maliachammy

kenshaz wrote:

I just believe that these accounts are pants ,by shopping around on this site you can get all the facilities cheaper and safe £168,Martin has done an article,I would normally provide a link ,but some posts do not like links to Martins articles ,I thought it was useful for those new to the site.

These accounts are not pants exactly, they are just inaproprately sold most of the time because Natwest staff are on targets for conversions/openings of this account. When sold properly to the kind of person who can benefit from it, the account is great and can genuinely save you money but as kenshaz says, all of the benefits can be made elsewhere if you use this site for example and if you do your research. however, that is all time consuming and this saves that time for you. most of the benefits are relative, eg. the discounts on loans are a true discount but they only make them cheaper that a Natwest loan if you didn't have the Advantage Gold account. Most of the time their loans are a lot more expensive than the cheapest loans you will find by having a look around on this forum.

At the end of the day, I can see where sales staff in all banks and businesses are coming from when they justify their sales tactics but I think that a lot of people working in these jobs have a questionable moral standpoint, the bank in question can only be at fault up to a point.

kenshaz

the end of the day, I can see where sales staff in all banks and businesses are coming from when they justify their sales tactics but I think that a lot of people working in these jobs have a questionable moral standpoint, the bank in question can only be at fault up to a point.

This site attracts a lot of people from the banking sector and often they attempt to justify the marketing procedures of their respective banks ,the site is not a true reflection of society.

nickinoodle_2

Hi, I used to have the Natwest Gold Account, but found I got no benefit for paying the £12 a month because I didnt use any of ther services.
I have since moved my account to A&L as reccomened on here, and I have to say its loads better, I have an interest free overdraft for a year, and then after that it is still a cheaper rate than my natwest one, and this costs me no fee a month

dianna8106

my husband has one of these gold accounts as well as a basic i was wondering wat these charges were on his statement.:mad: :mad:
why mad! becoz i no for a fact that if fully explained to him he wouldnt have signed the account applic form. when he opened it he had not been in the uk long so i can guarantee that he didnt understand what they were selling him (just for those of u wondering he came legally his brother owns a few businessess here and brought him ova with a guaranteed job, that he still has now:j ) anyway the benefits maybe good for those who use like ppl have mentioned above but we never use anyof those services offered he has had this account for 6 years. what do u think the chances of getting all those charges refunded?
be nice tho with christmas and a new second baby on the way :eek:
thanks for the post anyway at least if we cant get refunded we can cancel :T :T