Natwest charged me £35

ukric

I completely agree, but 'her' beef isn't against the company, she seems to be happy with them. I'm a great fan of T&Cs.

davidcampbell

virgin_moneysaver wrote:

post#32 - davidcampbell

post dated cheques - no point in giving a PDC to someone so that funds will be in your account when payment requested - you are relying on that person not to present it for payment before the date - if they do & it causes your account to go o/d - it's no point telling the bank it was presented early as the banks T&C regarding cheques is that the funds must be cleared in your account before you issue a cheque

i understand the process behind 'post dated cheques' .... i was just curious as to how it fits into the nature of this thread

Lyndsay_21

From what i gather i dont think it is the the other companys fault (barclays insurance) i think because i didn't have enough funds in there by COB friday Natwest sent the DD back.This is what the lending guy at natwest i spoke to told me. I will have to phone up barclays tomorrow and ask them if it was them who took it early.

virgin_moneysaver

yes - they would send it back if there were no cleared funds - the point is you were saying that the bank returned it after cob friday when the company weren't due to claim it until the monday morning - DD's are processed via the BACS system, which is 3 working days, which is why you can see on a w/e both credits & debits that are in the system that will be applied on a Monday - the actual 'bouncing' of the DD, so to speak, will happen on the Monday when it reaches your account - did you look into the agreed overdraft scenario that I mentioned (but this would depend on what type account you have with Natwest)

virgin_moneysaver

post#43 - davidcampbell - the PDC comment was just a 'tongue in cheek' remark - just to highlight the fact that the Direct Debit system, cleared funds etc are not the only procedures in the british banking system that are misunderstood, or people are ignorant of them generally, largely due to the fact that even though they are given T&C's when they open accounts, take out cards or apply for anything in general - the only time they read the T&C is when something has gone wrong! - the thread has been about Lyndsay_21 not knowing about the T&C of her bank account

digp

The penalty fee they have levied is unlawful*. Their terms and conditions cannot make lawful that which is not lawful. And such a defence -if you were to sue them- would enable you to get summary judgment. I anticipate that most judges would give Natwest short shrift.

I suggest that firstly you ignore the responses above [esp. on page 1] that are about as helpful as watching paint dry. Then I suggest you ring Natwest HQ, and ask for the regional manager. Thereafter I suggest you ask him to reconsider their decision to not waive the penalty charge. Somewhere along the chain of command they are likely to buckle.

* See e.g. http://money.guardian.co.uk/saving/banks/story/0,12410,1406187,00.html and http://www.bankchargeshell.co.uk/

[PS: if you are unable to ring up and do the above, PM me, and I'll draft a letter for you to fax / post to Natwest]

digp

daveboy wrote:

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Whilst I will agree with anyone who says all banks make too much profit, I am of the opinion that there are many people on here who make this site their first destination when something has gone wrong and it is their fault.

It might be a good idea to look at your organisational skills. This is the second post over the last few days that has complained about bank charges - you signed, at some point, an agreement in relation to the account. If you are in breach of those terms, then tough.

Although one judge has said that in parts of the country there are people (who rule us) who are behaving in a way that would disgrace banana republics, the fact of the matter remains that in this land the rule of law is supreme. Comments like yours above would not be out of place in Robert Mugabe's Zimbabwe. In England, under Tony Blair, such comments are beginning to become part of the norm. A deeply worrying trend indeed.

ukbill69

Has same thing otherday with natwest, they will refund if you complain to them. Give them a call.

virgin_moneysaver

not necessarily ukbill69 - they may refund once or even a partial refund as a gesture of goodwill -but only the once. It's a published tariff - you wouldn't take your car to a garage & then be up in arms when they present you with a bill for the work involved - the financial institutions are in business, have to make a profit (NOT that I condone the amounts they make) & they are not charities. Unlike garages, you can have accounts with the banks, & pay no charges whatsoever, just run them responsibly & within their T&C, which you've signed to say you agree to

Paul_Varjak

It seems to me that putting the '£' pound sign in the title of the post about banking is like a 'red rag to the MSE Bull"!