NatWest Advantage Gold and Unarranged Borrowing- A guide

LouisT_2

MSE_Martin wrote:

This is such a massive subject for MoneySavers I decided it was time that Reclaiming Bank Charges had its own Board. I hope this will mean MoneySavers work together to help each other take on the banks and share their experiences.

Tomorrow, 13 November, my new guide to reclaiming bank charges will be on the site. It's been a massive piece of work - its a true 'step-by-step' easy to do piece of work and includes template letters and calculators. Therefore this board is really to coincide with that.

Read the full bank charges article

Hi,

just signed up. Nat West have sent me six years worth of staments at a cost of £10.00. I noted I have been charged a service fee montly foe some time. Can I reclaim part of this too?

Ben

nintendosensei

Just rang up and they admitted it was a banking error, getting the money overturned on monday morning. Thanks to everyone who helped me in this thread.

natweststaffmember

LouisT- the service fee bit cannot be claimed just Unarranged borrowing, unpaids, referral fees and card misuse/guaranteed card payment fee(as of 1/12/06)

mycunya

Hello,
Could somebody tell me whether it's possible to claim back that monthly charge which applies to the natweswt advantage gold current account? I've been paying it during almost 6 years simply because I had no idea I could have a bank account with no monthly charge. I have never used any benefits offered to this account. Initially it was 8£ per month, then 10£ and now 12£. I am switching my current account now and wonder if I could claim this money. I never was over my limit and penalty charges were never applied to my bank account. But I hope to get back my something like 600£, which I paid to natwest for something I could have for free.
I wonder, if somebody could give me advice.
Thank you.

bengal-stripe

mycunya wrote:

because I had no idea I could have a bank account with no monthly charge.

You signed up for something you didn’t understand and in six years you couldn’t be bothered to find out what you were paying for.

Caveat emptor.

lou2309

I would like to see if I can get a rebate on my mums current account. Years ago her bank 'sold' her a product that she doesn't use. She said she did use it once in September last year for the travellers cheques but hasn't used it since. She's being charged £12 per month for an Advantage Gold account with Natwest and it's so frustrating to think that the bank have been earning free money off my mum for years!

I have sent a letter to the bank requesting that her account be changed back to a normal current account so at least I've put a stop to future charges. Please advise if you can advise me? Thanks

Rex_Mundi

The £12 is a service fee for a certain type of account. You cannot reclaim this charge.

natweststaffmember

Rex- I think I should post, and let us be brutally blunt, YOU CANNOT CLAIM FOR ADVANTAGE GOLD. This thread was posted by me to show how to work out the charges from the bank statements as Unarranged Borrowing Fee and Advantage Gold fee were merged in 2002.

mycunya

bengal-stripe wrote:

You signed up for something you didn’t understand and in six years you couldn’t be bothered to find out what you were paying for.

Caveat emptor.

well, I am a foreigner, and when I came un the UK I really had no clue about bank system at all and the small print was beyond my reach. I hardly could speak English. yes, it takes few years to start understand how this system works. This is my excuse.

mycunya

natweststaffmember wrote:

Rex- I think I should post, and let us be brutally blunt, YOU CANNOT CLAIM FOR ADVANTAGE GOLD. This thread was posted by me to show how to work out the charges from the bank statements as Unarranged Borrowing Fee and Advantage Gold fee were merged in 2002.

So, could you say in plain English, can I or cannot claim this service charge for Advantage Gold account from Natwest, if I have never used any benefits of this account and never had to pay any penalty charges? It's so confusing in your explanation about this link of unnaranged borrowing and service charge. So, if I had no unarranged borrowing anf even hardly used my overdraft at all, which reached by now 1900£? I just want tp claim my service charges before I go back to my home country.
Thank you