MSE News: RBS punishes basic account holders in ATM crackdown

marknlinz

I had a Natwest step account which i took out because i wasn't happy with the Co-op account and the fact that their online service runs a couple of days behind.
I have been perfectly happy with the Natwest service, i read about the restrictions being placed on ATM use so asked if i could upgrade to a standard account, they said i would be declined BUT i could have a silver account at £8 per month....
They say it has a 60 day period of notice, if i am not happy i can get a refund provided i haven't used any of the paid for services....
Looks like i have to pay £8 a month for the flexibility of using any ATM...
Just because i have a poor credit score...

notts_phil

marknlinz wrote: »

I had a Natwest step account which i took out because i wasn't happy with the Co-op account and the fact that their online service runs a couple of days behind.
I have been perfectly happy with the Natwest service, i read about the restrictions being placed on ATM use so asked if i could upgrade to a standard account, they said i would be declined BUT i could have a silver account at £8 per month....
They say it has a 60 day period of notice, if i am not happy i can get a refund provided i haven't used any of the paid for services....
Looks like i have to pay £8 a month for the flexibility of using any ATM...
Just because i have a poor credit score...

Well why don't u try applying online and see if you can get the normal free account. Will only take u a minute and you will save. You have nothing to loose:)they already hold most of you details so application only takes a minute:)

Hanky_Panky

tifo wrote: »

It is VERY difficult for many people. Even a single default for a few pounds will have you turned down or being late for credit card or mortgage payments will have you turned down. I know because i've been turned down for both reasons.

I (now) have no defaults or CCJs yet cannot get a standard account because i've been late in paying my mortgage occasionally or a credit card or loan payment. Don't forget that the credit record goes back 6 years so something we did, say, 4 years ago still affects us.

Many people ?? Even in today's economic climate arrears rates with banks are running at around 4-5 % so actually it is only a few who will experience problems due to their credit rating. The majority 95-96% will have no problems.

crittertog

Hanky_Panky wrote: »

Many people ?? Even in today's economic climate arrears rates with banks are running at around 4-5 % so actually it is only a few who will experience problems due to their credit rating. The majority 95-96% will have no problems.

"Many" is not necessarily "most". 4% of 10,000,000 is still 400,000, which is still "a large number".

geordiebloke76

In relation to this news. I received a text message from Natwest this morning to say there has been an error processing a transaction on my account. So obviously I called to find what the error was. I was informed that this was due to a withdrawl from a non Natwest cash machine and if I wanted to continue using non natwest cash machines I would have to upgrade my account. I was told that I did not pass the criteria for a Standard current account (Free to use) however I was eligible for there Standard Silver account. Which comes with a monthly fee of £8... I have agreed to the upgrade, however after checking the Natwest website I find that the Silver account is the Standard account with some added extras. I find it funny that my credit score is not good enough for a Free Account however they are willing to give me the same exposure for £8 per month.

This really does seem like a very easy way for Natwest to make some money out of the tax payers who bailed them out. I have drafted a complaint to my local branch. This sounds like PPI all over again for the banks. You can have an account if you take out a monthly fee but we will turn you down if you want the free account.

The advisor I spoke to also agreed that the text message was very misleading and they were changing the wording...

jalexa

geordiebloke76 wrote: »

Risky as it may be to diss a Geordiebloke, you have been duped, conned, probably by a "lassie".:doh: I suggest you cancel under cooling-off.

There are several reports in this thread of posters successfully *applying* for a "free" or base full service account, either with HSBC or Natwest/RBS. You might as well try, they can only say no.

The "con" is not that your record isn't necessarily good enough, it's a product marketing issue that there isn't a route. That's all.

BTW I recommend you don't request an overdraft (initially).

geordiebloke76

jalexa wrote: »

Risky as it may be to diss a Geordiebloke, you have been duped, conned, probably by a "lassie".:doh: I suggest you cancel under cooling-off.

There a several reports in this thread of posters successfully *applying* for a "free" or base full service account, either with HSBC or Natwest/RBS. You might as well try, they can only say no.

The "con" is not that your record isn't necessarily good enough, it's a product marketing issue that there isn't a route. That's all.

BTW I recommend you don't request an overdraft (initially).

Thanks jalexa - I have spoken to them this afternoon about their underhand tactics and they have agreed to offer me the fee free account... However on reflection the silver package is a good offering as I subscribe to Love Film, and a number of the other "added extras" so I have cancelled Love Film, Mobile Phone Insurance and my annual holiday insurance and saved myself around £15 per month.

So yes this geordiebloke was initially taken in by the "con". However if the CS had some decent sales training she would have sold it to me anyway.

I am still writing a formal letter of complaint regarding the very misleading SMS message and the way in which the account was sold to me and the misrepresentation of its member of CS staff.

jalexa

geordiebloke76 wrote: »

I received a text message from Natwest this morning to say there has been an error processing a transaction on my account. So obviously I called to find what the error was. I was informed that this was due to a withdrawl from a non Natwest cash machine and if I wanted to continue using non natwest cash machines I would have to upgrade my account.

Thank you for the heads-up. I have set a trap...

jackjones01

Is everyone stll rattling on about this?

Its really simple.... If you do not like it "BANK ELSEWHERE"

willo65

The silver can be credit restricted like the basic account or not credit restricted like the select account so you can get silver without qualifying for the select account.