Natwest - can I reclaim £6 a day charges?

Rb2004_2

Hi,

Recently I fell on hard times financially, and natwest charged me £30 and I went over my overdraft, but due to people paying me when they feel like it i was unable to quickly clear it.

Then next month they added another £90 onto it, then I paid off as much as I could afford but it still didn't clear it.. Then next month they added another £180 onto it.. And it's increasing now expenentially.. As fast as I'm trying to pay it because of their £6 a day charges its cancelling it out and at the end of the month the charges added are more than the amount I have been able to pay so it's ever increasing.

At the very least is there any way I can get the account frozen until I can clear it?

Or claim these charges back?

As right now I'm scared they will cancel my overdraft.. In which case not only will I owe the amount over I am but the overdraft on top as well.

As if I'm not crippled financially as it is that will just completely ruin me.

I'm self employed so because of the recession going on again times are hard enough and people who owe me money are also only able to pay me dribs and drabs also.

Any help and advice would be much appreciated, please no people saying its my own fault and I'm responsible for my finances and got myself into this mess.

Yes those things are true, but it was not deliberate and I'm trying my best, and I don't wish to be told what I already know.. I came here for help and advice and any would be much appreciated.

These charges are frustrating, because I'm struggling and work hard to earn my money, and they just invented these charges and take £6 a day from me for doing nothing.. While the people at the top are awarded inflated bonuses.

Thanks

dunstonh

You need to speak to Natwest and explain your financial difficulties.

You have no entitlement to claim charges back. You are reliant on their goodwill. So, one way or the other you need to talk to them.

and they just invented these charges and take £6 a day from me for doing nothing.. While the people at the top are awarded inflated bonuses.

They didnt just invent them. And they are not for doing nothing. You need to get that chip off your shoulder. Banks have a lot to answer for in a number of places but they are not charities and should not be expected to act as such. You say you are self employed. Well that should mean you should have some business sense and understand why they charge when people spend their money. Put your business head on and put a case to natwest. Get rid of that daily mail feeling sorry for yourself head. It wont help you.

Rb2004_2

Hi, took your advice to speak to them,

First they tried to give me a loan to repay my debt to them, which imposed the conditions I surrender my debit card and cheque book, and cancel my overdraft.. And in return would be given a cash card.. And I couldn't get my debit card back or borrow from them further with even an overdraft for 5 years.

Then few days later they slapped another £180 onto my already mounting debt, as although I'd cleared £150 I was still over my overdraft, so they continued to fine me per day.

I dont know what to do, it seems like I'm being blackmailed by them and their charges are now cripling me.

They aren't even satisfied with me just paying the monthly fine, which I did last month and they still persued with me with their debt department.

Maybe they don't do nothing, but they survived fine without these charges before and still keep boasting massive profits and banker bonuses, and somebody has not sat in an office doing work to justify the charge.. It's a computer that's counting the charges per day and automatically taking it.

dunstonh

I dont know what to do, it seems like I'm being blackmailed by them and their charges are now cripling me.

You are not being blackmailed. They are offering you a way out but want back the means that allow you to build up similar charges again in future.

Maybe they don't do nothing, but they survived fine without these charges before and still keep boasting massive profits and banker bonuses, and somebody has not sat in an office doing work to justify the charge

Most of the banks profits come from overseas and staff are employed solely to deal with accounts over limits. Somebody has to pay for them. They dont have to justify it to you. Arguements on that front are destined for failure.

You need to realise that the bank is not a charity and you are not a credit worthy person any more. You cannot expect to have facilities that a credit worthy person will get. They have given you an option that will eliminate the charges going forward. You need to decide if you want that or not.

antrobus

Rb2004 wrote: »

...Maybe they don't do nothing, but they survived fine without these charges before and still keep boasting massive profits ...

On a point of order; Natwest is part of RBS, and RBS have just announced their financial results for the first half of 2012, They made a loss of almost £2 billion.

jamesd

Best to accept their offer and know that there are plenty of other banks around once you've sorted things out.

You're now in the part of their business where they look to maximise income from their customers, including you, with their charges. It's a different world from the free in credit banking part, where they make the money to pay for that bit. Nothing particularly new about these charges, it's just that now it is you paying them instead of someone else, so now it's affecting you personally.