Natwest overdraft fiasco. can I claim compensation?

JuicyJesus

Let's assume I'm getting harrassed by my ex-husband, but mistakenly I assume that his banging on the door and screaming abuse about me is actually a bizarre form of interpretive dance and ignore it for three years.

I do not then get to go to the police three years later, and then after having him arrested and jailed claim compensation because my ex-husband has been shouting obscenities through my letterbox for three years and they should have stopped him.

guitar0211

Thanks for all your comments. I suppose some of may be right that I should leave the situation as it it. On the other hand, it can't hurt to put in a compensatory request on the basis that now, I owe the bank more money which I wouldnt have owed, had they given the the correct limit, and also on the basis that the interest taken out left me a few times with literally no money at all, for anything. Also I would just like to add that I never signed any contract or even given a thorough description of my duties as a customer, so in my opinion I havent broken the terms and conditions, natwest have

lippy1923

Just because they gave you a larger limit did not mean you had to spend it. This is your own fault. Take some responsibility for your own actions.

As long as they gave you back the interest/charges that you paid then you are back where you started.

You have got peoples opinions. Now it's up to you. Try and squeeze some compo out if you can be bothered but prepare for possible rejection and your time wasted.

grumbler

guitar0211 wrote: »

...I owe the bank more money which I wouldnt have owed, had they given the the correct limit,

What is the 'correct' limit?
Why was it "supposed to be much less"?

All student accounts normally come with big overdraft limits.
A limit normally doesn't stop you from going over it. It just costs more.
It's your decision to spend the money; nobody forces you. You wouldn't have owed if you hadn't spent it in the first place. You didn't know that it was interest free and yet eagerly spent it and not on necessities I guess.

innovate

guitar0211 wrote: »

Also I would just like to add that I never signed any contract or even given a thorough description of my duties as a customer, so in my opinion I havent broken the terms and conditions, natwest have

I think you will find that you accepted, and confirmed that you had read, the T&Cs when you opened your account. Natwest would not have opened your account without such confirmation.

If you were missing a description of your duties as a customer, why did it take you several years to notice?

Making a complaint will with almost guaranteed certainty not improve Natwest's opinion about you as a customer. They may well offer to pay you £25 if you complain, because that will be cheaper than turning your complaint down. Don't be surprised, though, if in the future they will not be offering you loans or overdrafts.

guitar0211

I opened the account when I was 16. what sort of normal 16 year old will think that not reading the terms and conditions would come back to bite them in the butt? besides this whole thing comes down to a bank error. the system screwed up and i was in the red because of it. and to be totally honest as soon as this overdraft is payed I will migrate my account to a less terrible bank.

guitar0211

the correct limit was supposed to have been 1750 max in my third, year; and they gave me two grand straight away.

guitar0211

I understand that i should have been more frugal with my spending, but the fact is, had it not been there, I could not have spent it.

grumbler

As I said above, it's not a fact.

shortcrust

I've read this thread several times and I still don't really know why the OP thinks they should get compensation.

EDIT: I'm also struggling to find the fiasco.