Bank Charges Claim

LORRI6404

I have been with Natwest for over 25 years. Must have paid hundreds if not thousands over this time in charges etc. Thinking about making a claim as 4 years ago I had to finish work and the Bank increased my overdraft facility on my current account without my asking them to do this to When£5,000. As I was struggling financially due to a large dip in my income I managed to use the overdraft to its limit and I have now for the past 4 years lived with an overdraft of £5,000 as soon as my benefits come into the account they are used up at a cost to me of approx £75 per month in charges. I am thinking of making a claim on a "hardship" basis, as per the advice given. I do have an ISA with NAtwest with a small savings "for emergency/rainy day". If I make a claim on this basis, are the Bank going to say I have savings I should use them? Although at the moment I am drawing on the savings fast anyway to top up my income. When I have been into the Bank in the past about the overdraft and that I never asked for it, they just keep telling me to add it to my Mortgage (also with Natwest). But I didnt want it and do not want to increase my mtg as not earning! Can anyone help before I go ahead with anything? Please.

Little_Mo_70

LORRI6404 wrote: »

I have been with Natwest for over 25 years. Must have paid hundreds if not thousands over this time in charges etc. Thinking about making a claim as 4 years ago I had to finish work and the Bank increased my overdraft facility on my current account without my asking them to do this to When£5,000. As I was struggling financially due to a large dip in my income I managed to use the overdraft to its limit and I have now for the past 4 years lived with an overdraft of £5,000 as soon as my benefits come into the account they are used up at a cost to me of approx £75 per month in charges. I am thinking of making a claim on a "hardship" basis, as per the advice given. I do have an ISA with NAtwest with a small savings "for emergency/rainy day". If I make a claim on this basis, are the Bank going to say I have savings I should use them? Although at the moment I am drawing on the savings fast anyway to top up my income. When I have been into the Bank in the past about the overdraft and that I never asked for it, they just keep telling me to add it to my Mortgage (also with Natwest). But I didnt want it and do not want to increase my mtg as not earning! Can anyone help before I go ahead with anything? Please.

You couldn't very well claim on the basis of "Thinking about making a claim as 4 years ago I had to finish work and the Bank increased my overdraft facility on my current account without my asking them to do this to When£5,000. Also, if you weren't happy about the overdraft you could have asked them to lower it.

In the event, you had need to call upon it and used it so you can't really complain about it. That said, the evidence will be on record that your income had dropped and you incurred long standing charges as a result.

YOu could try to claim using hardship. Don't mention about the ISA unless it comes up later on; you would have to say it's there for emergencies only as you don't have anything else to fall back on? Follow the steps on MSE using the hardship criteria. Althought no guarantees, it's free:D

dunstonh

Thinking about making a claim as 4 years ago I had to finish work and the Bank increased my overdraft facility on my current account without my asking them to do this

Nothing wrong with that. It saved you increased charges. Did they also spend the money or did you do that?

I am thinking of making a claim on a "hardship" basis, as per the advice given. I do have an ISA with NAtwest with a small savings "for emergency/rainy day". If I make a claim on this basis, are the Bank going to say I have savings I should use them?

For financial hardship, they will look at your savings and expect you not to have any and will ask you to complete and income and expenditure questionnaire. They will also look at your spending habits, typically over the last 6 months, to see what you have been spending your money on and they will ask you for evidence of what you arrears are.

When I have been into the Bank in the past about the overdraft and that I never asked for it

You did ask for as you spent the money. Having a facility is not the same as using the facility.