Natwest Credit Cards Have Taken All My Money

SnowTiger

LondonTom1982 wrote: »

Fermi - thanks again for all your help on this - I managed to get all my money back and the bank admitted it was an unauthorised transaction.

As it left me with zero money for nearly 48 hours, should I be in line for some compensation?

Standard compo for complaints seems to be £50, sometimes even for those without merit.

Have you suffered a financial loss? You mentioned that Direct Debits were about to be paid. Did these bounce? Have they caused additional charges from creditors?

LondonTom1982

SnowTiger wrote: »

Standard compo for complaints seems to be £50, sometimes even for those without merit.

Have you suffered a financial loss? You mentioned that Direct Debits were about to be paid. Did these bounce? Have they caused additional charges from creditors?

My main gripe is the payment was completely unauthorised and left me with no money, meaning I was unable to buy food for over 30 hours and unable to travel to work for one day.

No financial loss as my direct debits were still paid.

Natwest have upheld the complaint and apparently give me an update later today.

JKSandy

They may start taking some money out again as they are allowed to offset, so you may want to open an account elsewhere and have your money paid in there.

[Deleted User]

JKSandy wrote: »

They may start taking some money out again as they are allowed to offset, so you may want to open an account elsewhere and have your money paid in there.

+1 for this. If they're showing their true colours on this occasion, you might want to get your money out of Natwest/RBS sharpish. Plenty of good switch offers out there at the moment. (But remember to cancel any old DDs to Natwest Credit Cards!)

LondonTom1982

Thanks guys.

I have withdrawn all my money from Nattiest so there is nothing for them to take.

I explained I have no knowledge of the credit card and could not understand why no one had been in touch sooner! The account defaulted in March 2009 which seems strange that all of a sudden they are try to pursue it.

Candyapple

LondonTom1982 wrote: »

Thanks guys.

I have withdrawn all my money from Nattiest so there is nothing for them to take.

I explained I have no knowledge of the credit card and could not understand why no one had been in touch sooner! The account defaulted in March 2009 which seems strange that all of a sudden they are try to pursue it.

Because it was getting close to the 6 years statutory barred limit (March 2015) and they probably thought they had to make their move quickly before the time limit was up.

pvt

Have you had a look at your CRA records to see if it's listed there?

Are you saying that you have never had a Notbest credit card at all?

Another possibility is it is mistaken identity, they have another customer with similar enough details that they assumed it was you and poked their Hoover nozzle into your account a little too readily.

MoneyMission2015

Candyapple wrote: »

Because it was getting close to the 6 years statutory barred limit (March 2015) and they probably thought they had to make their move quickly before the time limit was up.

Just out of interest, I'm assuming this 'payment' to the card will effectively reset the clock meaning they now have 6 years again before the debt becomes statute barred?

pvt

MoneyMission2015 wrote: »

Just out of interest, I'm assuming this 'payment' to the card will effectively reset the clock meaning they now have 6 years again before the debt becomes statute barred?

No. Because the OP has not done anything to acknowledge the debt or pay anything towards it - Batsnest took the money and paid it towards the debt without asking or notifying the OP.

LondonTom1982

pvt wrote: »

Have you had a look at your CRA records to see if it's listed there?

Are you saying that you have never had a Notbest credit card at all?

Another possibility is it is mistaken identity, they have another customer with similar enough details that they assumed it was you and poked their Hoover nozzle into your account a little too readily.

I had a credit card with them years ago which was paid off, however there is nothing on my credit file to say anything to do with a natwest credit card and I only have one default, again which is not nat west.