NatWest Advantage Gold and Unarranged Borrowing- A guide

natweststaffmember

This always seems to be a problem when trying to work out what can and cannot be claimed so as I have done on other sites I will do here. The tip for knowing whether it was or was not Advantage Gold is the top of the Statement. Be aware that if the account was changed to a current plus the Advantage Gold charge goes out at the end of the month.




Some background info first

In 2001, NatWest was taken over by the Royal Bank of Scotland Group and replaced the NatWest computer systems as well as aligning charges to the RBS Bank model of charges. That means that the Advantage Gold charge
and the Unarranged Borrowing Fee were put together as one from October 2002.

How much was Advantage Gold and what was the amounts in question?

I am taking my starting point as October 2002 which is when the service charge was merged with Unarranged Borrowing. SO we have Advantage Gold charges as follows:
October 2002 The Advanntage Gold fee was £6
September 2003 The fee went up to £9
From July 2005 it was £10
And finally from June 2006 it is up to present total of £12
A quick note though, during 2002/3 there was a special charge for certain people trialling the newer Advantage Gold benefits which was £7.50.

So how do I work out what is the Advantage Gold and Unarranged Borrowing charge?

The statement may say charge £20 so that is £14 Unarranged Borrowing and £6 ADGD fee, or £29 which is
£20 Unarranged Borrowing and £9 ADGD fee, or £37 which is Unarranged Borrowing and £9 ADGD, or
£38 which is £28 Unarranged Borrowing and £9 ADGD, or finally £40 which is £28 Unarranged Borrowing and
£12 ADGD fee.

However, if you converted the account back from advantage gold partially through the month it may have something
like this 31Jan06 charges £34.50 which is £28 Unarranged Borrowing and £6.50 ADGD.

If you have any questions about this guide I am happy to respond on the thread about this.
Hope it helps

1192ROBIN

Hi natweststaffmember

I have read with interest your unarranged borrowing guide, thankyou

however i have a question if you can help me with !

I have an Advantage Gold account paying the £12.00 per month for the priviledge. On this account i have the facility of a £4000 overdraft that I currently do not use. The question is if I change the Account from Advantage Gold to a normal current account will I automatically lose the overdraft facility.

thanking you in anticipation

1192 Robin

natweststaffmember

no you will not

nintendosensei

I've had a natwest account opened recently, when applying they asked me whether i wanted something called advantage blue which costs £6 a month, i said no. When all my account things came, some advantage blue leaflets came with it so i went in the bank and asked if i had been signed up, they said no, and they put a " note " on my account to say that i never want to be signed up to advantage blue so i was pleased about that.

I moved address during the last month or so, so i didn't get a statement for november. Now looking, at the end of november i was charged £6 by natwest, conveniently the charge of advantage blue every month, something i didn't sign up for. I had less than £6 in my account as i don't use it for most of my money.

I had less than £6 in there and it sent me overdrawn, seeing as i didn't have the statement i was under the assumption i still had some money in there. Paid 70p through paypal for a download client and it was accepted, only for it to come about a week later saying that i didn't have the money in my account. During this week i put small amounts into my account to cover the small spending i was doing, not knowing i was still overdrawn so everytime i paid through paypal for something i got slapped down with a £38 unpaid fee charge, it happened 3 times before i got a letter saying i was being charged, looked through last month's statement and now i'm £120 down and i don't know what to do about it really, what should my course of action be?

brokenany

this whole situation is their mistake and will be solved under bank error so all u need to do is call, explain and u should be refunded in full.
hope this is helpfull

Edinburghlass_2

natweststaffmember may be able to help you with this question.

nintendosensei

Thanks for answering people I'll talk to them tomorrow

brian.kayll

Hello, Does anyone know if you can reclaim NatWest credit zone charges aswell as overdraft charges? Or are they the same thing? I have a credit zone which every time i slip into it (around xmas) i get charged £9 but i do not get any letters from the bank. Many thanks for reading this thread. Brian

Edinburghlass_2

I've merged your thread as natweststaffmember should know the answer for you.

pinkthinks

Brian - what does your statement list the £9 as? Is it an exact £9, or £9-ish?

Credit zone is another name for overdraft.

Ex NW staff & I've not heard of that one as a fee!

natweststaffmember

I'm current NatWest staff and I haven't heard about the £9 charge either so my gut feeling says no it cannot be claimed.
Advantage Blue is slighly different to Advantage Gold in that the cancellation period is 14 days which would appear to have been met. As brokenany has said I agree that the bank should refund it especially as you clearly stated you didn't want it.