NatWest complaint - partially upheld

InsideInsurance

So, I've had a complaint open with NatWest since June.

They have eventually come back to me with a final response from their Exec office which:

A) Resulting issues - complaint upheld, actions promised and reasonable compensation

Underlying issues - denied they exist/ say they cannot reproduce letters etc they claim they sent

C) Secondary resolutions - not mentioned in their response letter


One part of me says that I got the main results so leave it at but the other part says that the principle of the matter hasnt been resolved.

The fact they didnt respond to the other points is irritating but not the end of the world.

jonesMUFCforever

No - take the money and put it to bed

What is most important to you here?
You have had a result and you will shortly receive compensation.

What more (in financial terms) do you think you will achieve by holding out or say taking the case to the ombudsman?

lolavix

Sorry confused here - what are you actually wanting from them?

coldhandoff

Are you looking for our opinion on whether it should have been fully upheld? PM me if you'd like and i'll give you my opinion if you don't want to post it here.

olly300

Depends.

If the secondary issues are important i.e. they are actually primary issues which due to the way you wrote your complained were ignored, then take you complaint to the ombudsman.

Thing is if you go to the ombudsman they try and sort it out unofficially and only if that fails do they make an official adjudication.

This means Natwest won't actually have to admit they are wrong if you go to the ombudsman they just have to correct their mistakes and compensate you, if it's not an official adjudication. Even if gets to the point of an official adjudication Natwest can appeal it.

This means unless Natwest could actually do more you will still end up with the same result.

Having had a complaint with CIS go to the ombudsman, if a financial institution wants to hide records and be unhelpful as to be obstructive they will. So the letters and notes that have gone missing won't suddenly appear.

InsideInsurance

lolavix wrote: »

Sorry confused here - what are you actually wanting from them?

As I said, they have effectively said "we didn't do wrong originally but our service was bad in handling the complaint and so will do X, Y & Z that you asked us to plus £X00 compensation"

So firstly you have them making no admission that they have done wrong etc and the fact it didn't turn out worse than it did is through luck - hence option 1 being about principles and the fact they are acting illegally (according to the FSA and OFT)

Secondly, in addition to X, Y & Z there was also W that I was asking for which was simply ignored.

The other odd thing is that they say they are arranging for my account to be closed and yet CHAPS the compensation into that account.

Agricolae

What exactly did they get wrong? If this went to the Executives' Office then it was either rather serious or you were very persistent.

opinions4u

The other odd thing is that they say they are arranging for my account to be closed and yet CHAPS the compensation into that account.

Why would they CHAPS something in to their own account?

I've found this thread hard work. I don't think you've explained anything particularly clearly.

But my own view is that principles don't come into it. Get the problem fixed (if it can be), take the compensation and move on. It's rarely worth dragging something out over months or even years.

InsideInsurance

I dont know why the CHAPS something into my account, I just know that the online banking shows the transaction as CHAPS

Agricolae wrote: »

What exactly did they get wrong? If this went to the Executives' Office then it was either rather serious or you were very persistent.

A) They failed to remove a party from a joint loan 4.5 years ago when asked to - though all subsequent letters are addressed just to me and the financial link is dropped from Experian and Equifax

4 years later and without any warning they withdraw overdraft from sole current account and sent loan and current account to debt collectors though both were in good standing. When speaking to them they can only advise it is due to the other party on the loan's other account(s)

Speaking to OFT (and FSA, not FOS) they must give you notice prior to withdrawing credit facilities like overdrafts. The Natwest call centre agent advises its their company policy not to in cases like mine.

C) As soon as they do this I repay both in full (both were due to be paid off in 2 months anyway) and they advise credit reference agencies will show accounts fully settled.

3 months on loan is still showing as partially settled in June but July and August open again with an outstanding balance (and still just in my name) but payments up to date

Current account keeps changing its status every couple of weeks, originally showed as closed but only partially settled in June, then showed normal for June and July, then showed Partially Settled June, normal July and August showed a payment arrangement even though the account is in credit etc

Speaking to Natwest both the accounts are still open and there is an outstanding balance on the loan despite full and final settlement having been paid and confirmed in writing by them.

Added concern is that working in financial services I am required to keep a spotless CRA file and therefore all these shenanigans could cost me a job

Agricolae

InsideInsurance wrote: »

I dont know why the CHAPS something into my account, I just know that the online banking shows the transaction as CHAPS



A) They failed to remove a party from a joint loan 4.5 years ago when asked to - though all subsequent letters are addressed just to me and the financial link is dropped from Experian and Equifax

4 years later and without any warning they withdraw overdraft from sole current account and sent loan and current account to debt collectors though both were in good standing. When speaking to them they can only advise it is due to the other party on the loan's other account(s)

Speaking to OFT (and FSA, not FOS) they must give you notice prior to withdrawing credit facilities like overdrafts. The Natwest call centre agent advises its their company policy not to in cases like mine.

C) As soon as they do this I repay both in full (both were due to be paid off in 2 months anyway) and they advise credit reference agencies will show accounts fully settled.

3 months on loan is still showing as partially settled in June but July and August open again with an outstanding balance (and still just in my name) but payments up to date

Current account keeps changing its status every couple of weeks, originally showed as closed but only partially settled in June, then showed normal for June and July, then showed Partially Settled June, normal July and August showed a payment arrangement even though the account is in credit etc

Speaking to Natwest both the accounts are still open and there is an outstanding balance on the loan despite full and final settlement having been paid and confirmed in writing by them.

Added concern is that working in financial services I am required to keep a spotless CRA file and therefore all these shenanigans could cost me a job

So rather serious then.

What have they ignored in their resolution? I hope they put the credit files right (though you then have to wait for the CRAs to act on the requests).

jonesMUFCforever

No - take the money and put it to bed

1. The bank is well within their rights not to take a name off a joint loan.
This could only have happened if the loan was closed off and opened as a new loan in your name only.
2. Overdrafts are payable on demand - that is the case with all banks.

If you work in financial services I would have thought that you would know that.

I agree that the rest of your complaint about your credit reports is valid - but I would have thought this the reason why your complaint was only partly upheld.