Reclaim Unfair Bank Charges Discussion Area

tosca5

sandean wrote: »

Does anyone know can we say we want it paid into another account or want it in a cheque???

That's what i'd like to know,i'm waiting to hear about bank charges i claimed on an account which i closed a year ago. You would think they would send a cheque or pay it into a preferred account.

sandean

Thank you!!!!!!!!!!!

i'll return the letter and put that on it, i think it is there way of holding on to the charges

Leaf

Forgive me this:

need some feedback. I can't afford to go to court just yet so thought I'd send this.... any help?


The Financial Ombudsman Service
South Quay Plaza
183 Marsh Wall
London E14 9SR

12/05/07

Dear Sir / Madam,

Re: Natwest

I am writing to you as a last resort feeling that, although on-going, it seems my husband and I have exhausted the formal complaint procedure with Natwest in as much as they have failed to satisfactorily address any of our concerns during the process. Contrary to finding resolution, their actions throughout our complaint have escalated our distress, impacted adversely on our financial situation and has interrupted our work and well being. I will try to give you a brief overview and would welcome your consideration of this matter.

In January 2006 I was made redundant. I gained employment almost immediately through an agency. This continued until November 2006 at which time all temporary contracts ended. There was not any work available and for the following two months I was unemployed. At this point we had an overdraft facility of £600 and a loan commitment with Natwest of £353 per month.

On December 14th 2006 my husband wrote to Natwest stating that we were experiencing financial difficulty due to my unemployment and the loan payment due on December 24th could not be met and that we would like to discuss the matter so that a payment plan could be put in place. Our account was still then within its’ overdraft limit. This letter was not acknowledged. We then found that the December payment for the loan had been requested and rejected due to insufficient funds. Over the Christmas period we were unable to write again until January 8th 2007. On the 15th January we had yet to receive a reply and an email was sent requesting that the letters be located. On the 16th of January an email was received stating they had located the letters and that they had been directed to the Collections Department.

On the 12th of January the December payment was called against our current account again and honoured. But this left us in a very tenuous situation financially and still no communication as to how to assist in our situation was forthcoming from Natwest.

I gained employment in January and we hoped we would be able to recoup and ‘catch up’ with our financial situation. However, the period of my unemployment stretched us greatly and we found we were unable to meet the mortgage payment. Natwest declined the payment and charged us £38.00. I believe at this point was when we finally made contact with the Collections Department. They agreed a payment plan which was to increase our overdraft facility to cover the loan. There appears to be a breakdown in communication as I asked if there was a payment due in February and was told no, not until March. I asked three times as I knew we could not meet a February payment. And here begins there real story.

On Feb 13th Natwest took a further loan payment. Our mortgage was debited February 19th. On February 28th almost all of our direct debits were declined and resultant charges of £228 were placed on the account. On March 1st further direct debits were declined and charges of £114.00 were levied against the account. The direct debits were declined in order that, on the same day, £353.00 could be deducted from the account for the loan. These chaotic deductions resulted in there being a zero balance.

Totally distraught, I left work to meet with the bank, having demanded an appointment. I was advised, in order to have cash to put food in our mouths, they would kindly ‘up’ my overdraft. So now we were paying interest on the charges.

Since then I have pursued my complaint through the normal channels. I have asked three basic questions.
1) Why was my initial letter never responded to
2) Why have Natwest continuously incurred charges when I have made every effort to address our debts
3) How can Natwest justify that is moral or legal to make these charges, then advise an overdraft with resultant interest being levied on illegal charges


Sadly the saga does not end there. I am sure at this point you wish it would. Charges on the account continue due to bank error. You may understand that this continuing pressure has now had an enormous impact on all other aspects of our lives. The cancelled direct debits have made those companies file late payment charges and credit rating implications against us. On May 4th I viewed our bank account after my husbands salary was credited and found that, with the bank holiday weekend upon us, we had a zero balance. When I phoned it was explained that there was a ‘technical error’ and the overdraft facility had not been put in place. ‘Please go into your local branch to make a withdrawal.’ In order to do this I lost an hour’s pay. My lost wage, while significant to me, equates to less than Natwest charge for an automated letter.

I again viewed our account on May 11th and found that a further £38 had been charged against our account for a cheque which was deferred. This cheque was deferred due to the earlier mentioned ‘technical error’ of not instigating the agreed overdraft limit. I sent that cheque to Natwest on March 3rd as statutory payment for a request under the Data Protect Act of 6 years breakdown of charges applied to my account. I had been advised in March that there was no charge for this service and the cheque would not be presented.

In addition, we also have a credit card with Natwest. We have spoken with them and advised that we were in difficulty with our repayments because of the actions (inactions) taken by Natwest with regard to our current account. They have requested a completed income and expenditure form. It has been difficult to comply with this speedily as we are awaiting statements from the companies who were denied payment when the direct debits were dishonoured. Because we were unable to respond immediately with this information we received a letter which we perceive as threatening and which was constructed in such a way as to place us in even greater hardship. I quote ‘' There are serious consequences for if you do not bring your account up to date:
We may request the return of the Credit Card, or reduce the limit.
You will incur late payment fees and higher interest charges as a
result of a higher balance through insufficient repayment.'

We interpret this as threatening. We do not feel this is just and fair and see this as unrepresentative of fair trading. We have made payments which reflect our intention of honouring this debt but this has not been acknowledged. We have persistently tried to communicate and have requested that ‘penalty charges’ be stopped for the interim as further charges simply place us in a position where escalating the debt compound the situation. Wee have received no reply to this request.

I am in the process of seeking to reclaim all illegal charges made over the past 6 years. This totals £1468.20. In addition I wrote on 31/03/07 with copies of statements requesting explanation of further charges and a request for a debit card as the original card issued to me was incorrect. I have yet to receive a response.

I have catalogued the emails and letters and attach these for your information to evidence incompetent Customer Service, total lack of communication, underlying disregard of the law and immoral practice.

The charges, per se, are not my primary concern in relation to this letter to you. As stated, I am pursuing reclamation of these in the normal way and expect satisfactory resolution either by way of pre court settlement or by judgement. I am, however, requesting advice as to whether this case would be considered justifiable for pursuing exemplary and aggravated damages.


The actions and inactions of Natwest have left us in financial chaos and extreme emotional distress. This could have been avoided in December if the one missed payment was negotiated and resolved in December 2006.

I look forward to your comments.


Yours sincerely,

Edinburghlass_2

Leaf, no offence but.... the FO won't actually want or need to know half of the detail you have given. They will take over your bank charges claim and any financial difficulties incurred but to be honest I would phone them up on Monday and see what they say.

http://www.financial-ombudsman.org.uk/faq/answers/bank-charges_a7.html

Edinburghlass_2

sandean wrote: »

After writing to the first direct re charges of £1,300 we were offered £1,150 which we accepted.

We have now sent 3 letters to Natwest and this morning received a letter from them offering £2,800 less the £300 interest which we are going to accept, but that account was closed last year and they have said on the offer that they will pay it into the closed account!!!! What use is that?

Does anyone know can we say we want it paid into another account or want it in a cheque???

Is the closed account in a debt situation, if so they are likely to pay any reclaim into that account to cover the debt.

neilwoods

Has the templates for these been changed, remember it saying something about an 1976 act.

Leaf

Edinburghlass wrote: »

Leaf, no offence but.... the FO won't actually want or need to know half of the detail you have given. They will take over your bank charges claim and any financial difficulties incurred but to be honest I would phone them up on Monday and see what they say.

http://www.financial-ombudsman.org.uk/faq/answers/bank-charges_a7.html

Thank you Edinburghlass. I see what you are saying and that is useful. I guess I wanted to shout it all out! I sent this to Natwest. In the ever decreasing hope someone has a heart. LOL
Not sure how to proceed now.

Leaf

MaxedOutKev

Hi all,

Bit of a newbie, but happy I stumbled across this website. Isn't it amazing how this Bank Charge business has been kept quiet for so long, and still is to the majority of people across the UK?

Couple of quick qestions:-

Firstly, I was with Barclays about 11 years ago, when I got into problems, defaulted on a loan, overdraft and credit card. This was subsequenty passed to their collections dept and I've been paying off a small amount each month ever since (although the end is in sight thanksfully). Can I possible have a case here? Problem is I've got no details about account numbers or anything else (although the collections dept may well have). Is this worth pursuing?

Secondly, I'm with Natwest. From what I can remember I've only gone into an unauthorised overdraft a couple of times, but I'm charged £12 a month for a current account, plus interest on an agreed overdraft (a whopping £72.00 last month). Can this be investigated? Or does a normal agreed overdraft not count?

Cheers,

MaxedOutKev

Edinburghlass_2

If your account with Barclays is more than 6 years years ago and you don't have the details/statements you'll struggle to get any information from them due to the 6 year limit for them holding information.

As regards NatWest it sounds like you have a Gold account if you are paying £12 a month which you can't reclaim nor can you reclaim interest on normal over spending.

Please read Martin's article and the Reclaim Help Thread which is linked in my signature.

Step-by-step Guides: Bank Charges: Reclaim Your Cash | Bank Charges Video Guide | Top New Bank Account Calculator: Charge them interest Template Letters: (right click and save) Ask for charge details |Initial letter | Second letter | Small claims note Get Updates On Important Changes: Free Weekly Money Tip

nonk

moneysufferer wrote: »

hi , i just had an offer from Natwest of £4047.00 in full settlement. but they are telling me it has to go towards a loan which i defaulted on in both mine and my ex-wifes name after all these charges were applied. Can the bank do this.. is this the only way i can get my cash back. Any advice would be very greatfully received.

hello did you manage to find anymore info. i also have the same prob i have been offered £1000 refund from barclaysmon behalf of my son but only to be paid back into the acc they closed. any advice plesase