Natwest have asked me to name a figure for compensation, what should I ask for?

PeacefulWaters

g6jns wrote: »

If you exhaust the bank's own complaints procedure and then take it to the regulator

The regulator doesn't deal with individual complaints.

it costs the bank a minimum of £300 to have complaint adjudicated.

When did they reduce the fee?

InsideInsurance

PeacefulWaters wrote: »

When did they reduce the fee?

Unless it has changed recently then different financial institutes pay different fees depending on the perceived complaints handling and how well they promote the FOS - bulk buy discount

ceminem

Ignore some of these know it all idiots who clearly don't have a clue about what you can reasonably expect to receive.

A few years ago I opened a current account with Natwest and requested that no direct debits were transferred from my other account. However whoever processed it preceded to begin a full switch and it caused me some inconvenience to make sure I had money in both accounts and made manual payments in some cases to ensure that no payments were missed.

I complained to Natwest who investigated and without any prompt offered me £150 for my inconvenience, I was happy with this and felt it covered the time I had spent on the phone and sorting out the payments.

Depending on how long it has taken you to sort out the issue I would ask for similar, or what not even chance it and ask for a new credit card account with a balance transfer/purchase offer?

For the fools saying you can only expect £50 they have not gone through the inconvenience before so don't understand how the bank makes such offers. For example Barclaycard offered me £50 just to keep the account open, money for doing nothing! Your case has caused you grief and you can ask to be recompensed accordingly.

JoshE

callum9999 wrote: »

I don't think there's any doubt about it, there's no way in Hell the OP is getting given £500.

If it was me deciding what they could get and they proposed a £500 payment, I'd struggle not to laugh in their face and then offer them nothing. I'd imagine Natwest would be slightly more diplomatic however and propose a reasonable counter offer!

I'd personally ask for £100 and settle for £50.

They just accepted my offer of £200, I went against the ill advice from some on here. Pretty sure I could have got more!

pinkdalek

You should have said £500, if they rejected you just reply saying "Well you bloody asked for an amount!":beer:

£200 is better than a poke in the eye.

thebritishbloke

JoshE wrote: »

They just accepted my offer of £200, I went against the ill advice from some on here. Pretty sure I could have got more!

At the end of the day, you're now £200 up. Be happy about it!

It's like when people get upset on deal or no deal that they dun goofed, you're in profit, stop crying!!!