natwest gold account- success

ajay5021

Dear All

I had a natwest gold account 2006-2009

closed in 2009

feb 2013- banks said no to miss sold account

march 2013- challenged still said no

sept 2013- went to fos
nov 2013- natwest decide before the case gets look into, to pay goodwill offer. full account charge plus interest £371.

keep challenging yourself first then fos last resort. ignore when people here say'when the bamks say no thats it' NO, keep trying and get your money.:j

skyrocket

That's great news, well done!!
I wish there was a representative of Martin's to help on this forum.
All i've seen on here is people instantly saying 'You weren't missold, you won't get anything back, don't bother'
Totally contradicts what Martin is saying.
Thanks for your positive report!

BMN

I don't know if you were genuinely mis-sold your account and I don't why you've only noticed that you were mis-sold after the account was closed but it sounds as though Natwest have agreed to refund you because it would cost them less than the FOS case fee (which is £550).

dunstonh

All i've seen on here is people instantly saying 'You weren't missold, you won't get anything back, don't bother'
Totally contradicts what Martin is saying.

You dont see that said much on accounts where you are paying for external add-ons. The success rates on those is not too bad.

The FOS are offering the banks a chance to settle before they have the £550 FOS charge levied. So, the bank had a choice of paying £550 and arguing its case with the FOS or pay £371 to get rid of it. Being stuck between a rock and hard place, they went with the cheapest option.

ajay5021

BMN wrote: »

I don't know if you were genuinely mis-sold your account and I don't why you've only noticed that you were mis-sold after the account was closed but it sounds as though Natwest have agreed to refund you because it would cost them less than the FOS case fee (which is £550).

my account was closed as I did not need an account where I was paying £8 for nothing. I only found out i was mis sold because of the 'mis sold bank account' scandal.

I dont agree that natwest just pays out, because they didnt want to pay the case fee, they just dont want to accept the fact, they sold accounts that people didn't need and when you complain to them, they fob you off, you then end up going to FOS, and then all of a sudden they want to give your money back.

people get put off when banks reject them and then have to wait a long time for the FOS to make a decision, which they usually uphold the complaint.

The banks should just pay the first time if customers are genuienly miss sold, rather making the customer wait months if not years to pay out, and incur additional case fee.

Atidi

skyrocket wrote: »

That's great news, well done!!
...Thanks for your positive report!

It would probably have been even better if it was posted in the specific thread MSE created and linked to in the article to "discuss, comment and report any successes and failures" as presumably that would be where most people interested would look

https://forums.moneysavingexpert.com/discussion/comment/58816197#Comment_58816197