Reclaiming package bank account charges as missold, but will they cancel overdraft?

Jadec01

I've got an overdraft of £2000, I used to have a silver account I think it was with lloyds, then they hassled me and kept pestering me into getting a premier account to reduce the interest charges of the overdraft. (However the interest charges are lower but the account is £25 per month so it works out still more expensive anyway) if I was to complain and use the template on here to reclaim missold bank account charges, will they cancel my £2000 overdraft possibly? Only as I won't have enough money to do this! So don't want to risk it. Would they be allowed to do that or not? Thank you. :j

Jadec01

Anyone have any advice?

Edi81

Why should you have your overdraft cancelled? Have you had the benefit of any of the other features of the account? Car breakdown, holiday insurance, mobile phone insurance?

Jadec01

I haven't used any other features, well only travel insurance but it's not worth the cost of 25 per month when I can get it cheaper alone. I'm registered for phone insurance but again never used it and can get it cheaper alone!

dunstonh

Registering with the insurer hurts your chances of complaint. You cant claim you didnt know about it if you registered the phone. Plus, just because you havent claimed on the insurance doesnt mean it wasnt providing the service. If you had a duplicate policy that was cheaper then you could argue dual cover but saying you can it cheaper alone but not actually buying it harms your case.

They wont cancel your overdraft. However, any benefit that is registered or used is deducted from the redress if your complaint is successful.

worried_jim

Why did you upgrade if you knew it would cost more money? You have used the benefits, lower interest on your £2k overdraft, been abroad and have registered your mobile against loss or damage. I cant see you getting diddly squat back.

Jadec01

Because I'd rather stick with a lower bank account, they tried to sell me it saying the interest is lower on the overdraft. But with higher interest and a lower cost bank account saves me more money than this account!

Jadec01

Just want to know, would they be allowed to cancel my overdraft because of me putting in this complaint about a packaged bank account?

ascan

Just wanted to say after reading Martins newsletter I emailed NatWest complaints department about a packaged account I set up in 2006 along side our offset mortgage and today after only my original email (three weeks ago) and one telephone call from Natwest`s complaints handler they agreed I was missold the packaged account and have refunded me including interest £2,945.23. NatWest have also credited my account with two months account charges for September and October giving me time to cancel if I wish to or if I choose I can retain the account.
Thank you Martin as I had no idea I was entitled to this and it was so easy to claim back and thank you NatWest for making it so easy and uncomplicated.