Natwest Overdraft Fees

frazers575

I was around £6 overdrawn with Natwest because of a fee they charged for having the account that I was not aware of.

I have been abroad for 6 months and have come back to demand letters which are totalling up to over £1000 - all interest charges on this original £6.

Is there anything I can do in regards to this as I think it is a disgrace that a bank can just carry on charging interest on interest.

chambta

It's likely that if you call the CLC (customer lending centre) where your account is likely to be now held and ask nicely that they'll sort something out.

They will want to know why you've let it get to this stage though.

izools

Yes, they won't be impressed that you didn't provide a forwarding address for your time abroad as it is part of the T&C you agreed to that you should.

Nevertheless, £1K of charges on a £6 OD balance is very unfair and they should sort something out although you may need to make it a formal written complaint.

stclair

call them on 02380 226443 option 2 then option 4 between 8am and 8pm Monday to Friday and discuss your options.

I would also advise you contact your local CAB for when they tell you to possibly naff off!

stclair

izools wrote: »

Yes, they won't be impressed that you didn't provide a forwarding address for your time abroad as it is part of the T&C you agreed to that you should.

Nevertheless, £1K of charges on a £6 OD balance is very unfair and they should sort something out although you may need to make it a formal written complaint.

Why should they have the right to make a complaint the OP failed to inform the bank of a change of address/circumstances and they have also failed to check there account on a regular basis.

frazers575

Sounds like we've got a Natwest employee on the thread. So a) I deserve and b) Natwest should be allowed to charge over £1000 interest on a £6 charge they put on?

It's quite clear from my opening sentence that I didn't leave the account overdrawn when I left, hence the words 'charge I wasn't aware of' and indeed wasn't even using this account so why would I inform what I thought was a dormant bank and account that I was going travelling?

You almost gave some sensible advice above - almost - with your 'contact the CAB' comment but then ruined it at the end. If I am told to 'naff off' as you put it with this complaint, i'll pay the whole £1000

frazers575

Hahaha I've just seen the very bottom of your post. Looks like I hit the nail on the head. Say no more

System

What fee was it that was charged and why were you not aware the charge could have been made ?
If it was a truely dormant account, then it would not have gone overdrawn.

NatWest T&Cs state:

Unarranged Overdraft Fee

An Unarranged Overdraft Fee will be charged for each day on which there is an unarranged overdraft of greater than £6 on your account at close of business on that day. Please note: we will only charge an Unarranged Overdraft Fee for a non-business day (i.e. a Saturday, Sunday or Bank Holiday) if there is an unarranged overdraft of greater than £6 owing on your account at close of business on the first following business day.
When charged

21 days after the end of the charging period (or the next business day if this is a Saturday, Sunday or Bank Holiday). The charging period normally ends on the date that we issue your statement to you.
Fee Amount

£6 for each day for which an Unarranged Overdraft Fee is payable.

i.e.
£6 per day over 6 months adds up to > £1K

chambta

The bank's policy is to wipe the charges in cases like this.

stclair

chambta wrote: »

The bank's policy is to wipe the charges in cases like this.

That is not always the case sometimes the account holder might be required to pay some of the charges.

fozmcfc

I'm confused how someone cannot know that there is a charge for an account they hold.

OP should be more concerned that they will now have a completely trashed credit record for being overdrawn for so long.