reclaim nat west bank package charges

grumbler

bengal-stripe wrote: »

You did change your story from the first posting to the last one. Were you offered "guaranteed acceptance" if you did upgrade the account, or were you told your loan would be denied if you did not upgrade? As you did upgrade and got the loan you were after, there was no mis-selling in the first scenario. Whether you would have, or would not have gotten the loan in the second scenario, you did not dare to find out.

To be fair to the OP, I don't see much difference between "more likely" and "guaranteed", and your first scenario is exactly what MSE call "blatant mis-selling".

That said, it's the official POV that I don't agree with. IMO, there is no anything wrong with offering guaranteed acceptance or lower rate if a customer buys PPI or pays for a premium account. PPI reduces the lender's risk. A premium account fee can be considered as a part of the loan repayments.

dalstonpaul

I was upgraded to a Nat West Premier account in about 2001. I never used the silly services like their Wine club. If I went overdrawn they charged me 30 quid, and the fee was £500 per annum. In 2006, they rang and told me that they had reviewed my account and I didn't earn enough money to be on that service, should not have been on it, and downgraded me.

I complained in 2008, having thought about it only now and then, and got some bruiser on the phone telling me that I had no chance.

What are my chances?

I'm glad to say that in 2008 I also found this site, and (even if it took a while) not only got debt free, but now have a bit left over each month, got back on the career ladder, and out of a big grumpy time that the money situation caused. It's fair enough to say to me "but you knew the charges", and I fully accept that but when you get in it, that's the least of your worries.

stclair

MrSlippers wrote: »

Or, courtesy of MSE:


"Customers are often told they have to sign up to a packaged account to get a loan, mortgage or other product. Or that their other application will be declined if they don't get a packaged account. This is blatant mis-selling."

You'll find the applicant got preferential rates on the loan or overdraft at the time if they had s packaged account.