Natwest/RBS Payout Times

barryr900

Working day 36 for me today since they received my acceptance letter.
Thats almost 2 months since I sent it.
Not a penny paid so far.
Loyal NatWest customer for 22 years.
I keep ringing and ringing but keep getting fobbed off.

"we are very busy ... we sympathise with you ... we cannot give you a payment date ... just keep checking your bank account..."


how pathetic :mad:

Channers

Hi Guys,

Just to let you know that after emailing the CEO and the Board and my MP and raising a bit of hell, I got my payment. I ended up waiting 16 working days. I am not sure that if I had not raised a bit a hell, that I would have been paid so quickly, so I encourage all of you to do the same. Thanks for the support guys!

jeremykyleforever

hey all, i've been tracking this thread and just wanted to give my experience.

Natwest received my acceptance letter on the 7th September. According to them, my 28th working day was yesterday. I got them on the phone this morning and they said that they anticipate to pay me by the end of October. I also confirmed with them that as its passed the 28th working day, they are now duty-bound to pay interest on the amount they owe me (it's not much, £1200) which is 8%. No idea if this is daily, weekly, monthly etc, but I'm not fussed...its more money in my pocket when they do eventually cough up.

Good luck everyone.

Libbie1982

Channers wrote: »

Hi Guys,

Just to let you know that after emailing the CEO and the Board and my MP and raising a bit of hell, I got my payment. I ended up waiting 16 working days. I am not sure that if I had not raised a bit a hell, that I would have been paid so quickly, so I encourage all of you to do the same. Thanks for the support guys!

Way to go Channers, :T:beer::j:T:beer::j
i have emailed:
[EMAIL="Stephen.Hester@rbs.co.uk"]Stephen.Hester@rbs.co.uk[/EMAIL]
and
[EMAIL="ron.teerlink@rbs.co.uk"]ron.teerlink@rbs.co.uk[/EMAIL]
who else should i email please?

And just now my local MP...

Derwent

Matthew_Swan wrote: »

I've just managed to get through to them and they said their back-log is 1-3weeks... They then mentioned that it was in their interest to pay all claims in turn as they have to pay 8% interest for each day over the 28 they are in paying out??? I asked then to clarify what that meant as on £13.54k total offer thats just over £1k a day in interest! She then went off and checked and eventually came back to say its 8% of the interest value as shown on 'customer offer' alas I didnt have that to hand when I spoke with her, but now I look at the offer there are two interest values, one is 'Statutory Interest Value' and the other is 'STAY Interest value' any ideas as to which value the 8% would be applied against? I want to calculate what they'll have to pay per day and check that they do

The interest is 8% per year (not 8% of the total) so you need to divide it by 365 to give you the daily rate. On £13,540 the annual interest would be £1,083.20 then divide that by 365 and the amount of interest accruing per day is £2.97 so for example if they go over by 20 days then you should receive an additional £59.40 in interest.

Libbie1982

Derwent wrote: »

The interest is 8% per year (not 8% of the total) so you need to divide it by 365 to give you the daily rate. On £13,540 the annual interest would be £1,083.20 then divide that by 365 and the amount of interest accruing per day is £2.97 so for example if they go over by 20 days then you should receive an additional £59.40 in interest.

Thank you for letting us know :T

Grrrr so were i was thinking, its ok for them to go over as i get more money, its only, £1.42.... Humph!:mad:

Libbie1982

Hehehehe They ust keep getting better. Hubbies just called rbs to find out whats going on... "we have a back log and could take upto another 4 weeks. When he asked if that was working weeks or just 4 bog standard weeks he was told there the same thing. Lol.

Libbie1982

Recieved a reply from the Stephen Hester email after just 3hrs:

Dear Mr W________
Thank you for your e-mail which has just been received by Stephen Hester's office. They have asked us to look into matters for you.

I have passed your comments on to our PPI team and have asked that they contact you shortly.

Yours Sincerely

Scott McLellan
Group Customer Relations

Don't think its a generic one as they used my name.

Keewee

Libbie1982 wrote: »

Recieved a reply from the Stephen Hester email after just 3hrs:

Dear Mr W________
Thank you for your e-mail which has just been received by Stephen Hester's office. They have asked us to look into matters for you.

I have passed your comments on to our PPI team and have asked that they contact you shortly.

Yours Sincerely

Scott McLellan
Group Customer Relations

Don't think its a generic one as they used my name.

I got the same email, then was refunded the very next day!!
Hang on in there :beer:

Matthew_Swan

Derwent wrote: »

The interest is 8% per year (not 8% of the total) so you need to divide it by 365 to give you the daily rate. On £13,540 the annual interest would be £1,083.20 then divide that by 365 and the amount of interest accruing per day is £2.97 so for example if they go over by 20 days then you should receive an additional £59.40 in interest.

That is somewhat disappointing as they specifically said it was 8% per day interest, and I did ask them to clarify that... looks like it's another call to the happy ppi team to confirm your version of calculations as if your correct there is no insentive for them to pay at all....