Natwest/RBS Payout Times

maggy50

Nat West / RBS

They have been awful to deal with.
SAR requested 2nd November 2011 no reply after 40 days so I wrote chasing this up and eventually they replied that they did not recognise
my signature !
So went along to my branch three weeks ago and they verified my I'D.
still nothing even though I sent the paperwork recorded and it was signed for next day so I am now going to contact ICO with my complaint.

Now the reason for their stalling is that I successfully claimed PPI on a front loaded loan and this means I will be able to pay my overdraft with them and say goodbye to the worst bank I have ever dealt with.

The chances are that Stephen Hester will get his million plus bonus before the minions like myself and others get paid.

I had a letter from his lackey telling me they are monitoring my complaint that was two weeks ago and nothing !!

Kafkaesque

@candylucy - thanks. Your cynicism may actually be misplaced, it's hard to tell for sure. So the letter I received last week on NatWest headed paper could have been bespoke or based on a template for providing details of loans and PPI, but did seem quite personalised based on the conversation I had. Anyhoo, I'm greeted by a letter tonight, this time from RBS, which definitely seems like a stock "thank you for your complaint" acknowledgement. Now this is dated last Wednesday, so after the original letter saying contact us to progress the complaint, but before I sent the customer questionnaire.

So - does this mean they started the process after the call after all? You can't really tell but the optimist in me would like to think so . Hey ho - the 8 weeks is from the date the complaint was acknowledged, so it should make no odds. I'm going to put my patient hat on and try not to think about it.

@magg50 - out of curiosity, why are you pursuing a SAR when you've had a positive result, or was that with a different insurer?

maggy50

Kafkaesque wrote: »

@candylucy - thanks. Your cynicism may actually be misplaced, it's hard to tell for sure. So the letter I received last week on NatWest headed paper could have been bespoke or based on a template for providing details of loans and PPI, but did seem quite personalised based on the conversation I had. Anyhoo, I'm greeted by a letter tonight, this time from RBS, which definitely seems like a stock "thank you for your complaint" acknowledgement. Now this is dated last Wednesday, so after the original letter saying contact us to progress the complaint, but before I sent the customer questionnaire.

So - does this mean they started the process after the call after all? You can't really tell but the optimist in me would like to think so . Hey ho - the 8 weeks is from the date the complaint was acknowledged, so it should make no odds. I'm going to put my patient hat on and try not to think about it.

@magg50 - out of curiosity, why are you pursuing a SAR when you've had a positive result, or was that with a different insurer?

Reason for SAR is that this account had some payments paid to my partners business and due to a flood I lost the original statements .

Its purely tying up loose ends !

DLT1969

I received letter on 28.1.12 final response letter - but on my letter is said I only needed to respond if I was not happy with the offer - has anyone else had this type of letter. When I rang on Monday to say I was happy with the claim to be paid out they said they think it was sent out in error and could not find the letter on the system. However I rang again today and the girl today told me all the information that was on the letter dated 25.1.12 and that it is probably with the department that issues the cheques......... very confusing . are they changing the way you accept your offer I wonder ??

loopyalex

I've recently requested ppi back via the telephone number for the insurance dept of rbs. I was told it would be 16 week wait. the loan was originally taken out in 1995 and restructured in 2000, then paid off in 2003. On the phone they told me they had all the paperwork and all the info needed to make a claim. I've also claimed for ppi on an overdraft. Has anyone had any luck through the phone service or had to wait that long?

Kafkaesque

It shouldn't matter what medium you use to register the complaint (telephone or letter), the FSA guidelines stipulate the timelines for financial institutions to acknowledge and offer a final response to complaints regardless of source. Once the complaint is logged the clock starts ticking.

The 16 weeks doesn't sound correct though. The FSA extended the time banks had to turn PPI complaints around at the back end of 2011 but that extension has now expired. Any complaints logged on or after 1st January 2012 should be resolved in the standard 8 weeks, by which I mean either rejected your complaint or upheld it and agreed compensation. Note this doesn't include payment.

When did you register the complaint?

DLT1969

woohoo 1st of three cheques arrived today for £7600 - when contacted RBS said three cheques to be sent separately - so it has taken from 5.1.12 until now for first payment - that's not too shabby is it !!:j

Kafkaesque

Lordy that's lightning quick. Big congrats!

agatadel

Hi,I have been waiting for my money since August and still nothing!!! They have offer me over £5000 but two weeks ago I have recived phone call from bank saying they have made an error and instead of £5000 they offering me now £800. U must know that they agreed to pay me that £5000 at first coz they have send me confirmation and I got official letter from them . Just need help if they can do that after I have singed off first offer? Pls I need some help!!!

DLT1969

:rotfl:just an update re RBS - received the 2nd and 3rd cheques by 10th Feb - so all cheques now paid and applied early Jan - so I can't complain about the payouts from RBS ...so keep at it guys