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Mis-sold current account and possibly credit card?
Powered_By_Pies
Posts: 309 Forumite
Hi all,
Forgive the long post, after a bit of advice if possible.
Upgraded my Natwest account from a junior to adult one in 2007 as I'd just hit 18 and was on a gap year before uni.
The advisor I met didn't allow my parents into the room even though I asked if they could attend. Considering I was 18 I'm not sure where I stand with that to be honest, but I don't think I can base a complaint on that.
The advisor asked the usual questions - would I be going to uni, would I need a student account, was I thinking of travelling in my gap year, etc. I said yes to all, and she recommended and signed me up for an Advantage Gold account, a student account, and a Mastercard Credit card with a 2400 limit.
Suffice to say things have gone wrong since and all three accounts (including AD Gold as I had an overdraft put on there which became exceeded) are now defaulted due to unemployment in late 2011 and with their collections departments as I defaulted on my CC.
I've arranged a repayment plan with CAB and Natwest have so far accepted it. I know there's nothing I can do with the student account or CC, my stupidity is my downfall on those. The overdraft on the AD Gold account is also my fault, but is the account I'm thinking of raising a claim against.
I was only really told about the mobile phone insurance on the account, and the fact at the time the account came with a 'discount card'. I subsequently found that useless as no-one seemed to accept it anywhere. I was also, best of my knowledge, not made aware of an alternative free account, as the advisor told me the AD Gold would be the best one for me as I was considering a gap year abroad - I never went unfortunately.
Is there a base to a claim for the package account fees there, at all? Would it be worth me going to my local branch or mailing off a request of historical account details with the 10 pound fee, even though the account is now defaulted and in collections?
Sorry again for the long thread, just wondering if it's a feasible option. I also had bank charges coming out of my ears with that account for overdraft fees, although they were my fault and it seems the banks have managed to tighten up on how they can wriggle out of paying any of them back.
Thanks for reading!
Forgive the long post, after a bit of advice if possible.
Upgraded my Natwest account from a junior to adult one in 2007 as I'd just hit 18 and was on a gap year before uni.
The advisor I met didn't allow my parents into the room even though I asked if they could attend. Considering I was 18 I'm not sure where I stand with that to be honest, but I don't think I can base a complaint on that.
The advisor asked the usual questions - would I be going to uni, would I need a student account, was I thinking of travelling in my gap year, etc. I said yes to all, and she recommended and signed me up for an Advantage Gold account, a student account, and a Mastercard Credit card with a 2400 limit.
Suffice to say things have gone wrong since and all three accounts (including AD Gold as I had an overdraft put on there which became exceeded) are now defaulted due to unemployment in late 2011 and with their collections departments as I defaulted on my CC.
I've arranged a repayment plan with CAB and Natwest have so far accepted it. I know there's nothing I can do with the student account or CC, my stupidity is my downfall on those. The overdraft on the AD Gold account is also my fault, but is the account I'm thinking of raising a claim against.
I was only really told about the mobile phone insurance on the account, and the fact at the time the account came with a 'discount card'. I subsequently found that useless as no-one seemed to accept it anywhere. I was also, best of my knowledge, not made aware of an alternative free account, as the advisor told me the AD Gold would be the best one for me as I was considering a gap year abroad - I never went unfortunately.
Is there a base to a claim for the package account fees there, at all? Would it be worth me going to my local branch or mailing off a request of historical account details with the 10 pound fee, even though the account is now defaulted and in collections?
Sorry again for the long thread, just wondering if it's a feasible option. I also had bank charges coming out of my ears with that account for overdraft fees, although they were my fault and it seems the banks have managed to tighten up on how they can wriggle out of paying any of them back.
Thanks for reading!
0
Comments
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Powered_By_Pies wrote: »
Upgraded my Natwest account from a junior to adult one in 2007 as I'd just hit 18 and was on a gap year before uni.
The advisor asked the usual questions - would I be going to uni, would I need a student account, was I thinking of travelling in my gap year, etc. I said yes to all,
I was also, best of my knowledge, not made aware of an alternative free account, as the advisor told me the AD Gold would be the best one for me as I was considering a gap year abroad - I never went unfortunately.
The advice was based on your replies at that point in time, the fact you intended to travel would have been part of what made up that advice.
The fact you didn't then have a "traveling" GAP year does not make the advice wrong, it was just circumstances changed after the advice was given.0 -
I am trying to get hold of a company called AIMS review which apparently have my late mother-in laws will but can not contact them
I have seen comments somewhere on her but need some help please0 -
The advice was based on your replies at that point in time, the fact you intended to travel would have been part of what made up that advice.
The fact you didn't then have a "traveling" GAP year does not make the advice wrong, it was just circumstances changed after the advice was given.
Ok, but I thought banks were obliged to make customers aware of a free account alternative? I didn't really know the first thing about bank accounts back then and the first one she started talking to me about was the advantage silver. It was only after the gap year mentioning that she went up to the gold one.0 -
Indeed you can't, being 18 , you were old enough to arrange your own finances.Powered_By_Pies wrote: »The advisor I met didn't allow my parents into the room even though I asked if they could attend. Considering I was 18 I'm not sure where I stand with that to be honest, but I don't think I can base a complaint on that.
NoPowered_By_Pies wrote: »Is there a base to a claim for the package account fees there, at all?
You said it yourself!Powered_By_Pies wrote: »I also had bank charges coming out of my ears with that account for overdraft fees, although they were my fault
Why would they be?Powered_By_Pies wrote: »Ok, but I thought banks were obliged to make customers aware of a free account alternative?0 -
I am trying to get hold of a company called AIMS review which apparently have my late mother-in laws will but can not contact them
I have seen comments somewhere on her but need some help please
You need to start a thread of your own....make the most of it, we are only here for the weekend.
and we will never, ever return.0 -
Moneyineptitude wrote: »Indeed you can't, being 18 , you were old enough to arrange your own finances.
But I gave permission for then to come in with me as is didn't know the first thing about bank accounts.No
Personally think you're wrong. I was pushed onto a premium package account without any knowledge if a free alternative.You said it yourself!
Yes, for the overdraft charges. I said i'm taking those out of the equation and focussing on the package fees. Read my posts properly before you dismantle them, please.Why would they be?
Because it's their responsibility as a lender to make others aware of all the options, not just the one that makes then the most money? Considering they're supposed to be a financial institution? When I switched from Natwest to Lloyd's the first thing they mentioned to me was the free basic account.0 -
I can't see any reason for complaint. If you were truly concerned, your parents could have looked over any finance you agreed to and then cancelled during the "cooling off" period.Powered_By_Pies wrote: »But I gave permission for then to come in with me as is didn't know the first thing about bank accounts.
But you told them you would be going on an extended GAP year adventure. It's not their fault you later changed your mind.Powered_By_Pies wrote: »I was pushed onto a premium package account without any knowledge if a free alternative.
Why do you think they would (or should) have pointed out a "free" alternative?
So why mention them if they are not relevant to your "case"?Powered_By_Pies wrote: »I said i'm taking those out of the equation and focussing on the package fees. Read my posts properly before you dismantle them, please.
By this time your circumstances were far different and you would clearly have mentioned that you were unhappy with the "service" from NatWest.Powered_By_Pies wrote: »When I switched from Natwest to Lloyd's the first thing they mentioned to me was the free basic account.
They really don't have to point out free alternatives, they are not independent financial advisers-they are simply selling you their products.0
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