Natwest Advantage Gold Mis-sold?

JooM

Hi

I am hoping one of you can help me. Around 18 years ago I called Natwest to increase my overdraft limit. I was told that if I moved to an Advantage account I would be financially better off each month. I explained that I didn't have any interest in the benefits but was told even if I didn't need them (I've never used a single one) the cost to me each month would be less than paying the higher interest rate on my normal account. I trusted what I was told and I've only just twigged that actually the cost was not cheaper at all. Do you think I have a case for mis-selling?

Thanks a lot

JooM

[Deleted User]

18 years on, very likely time-barred.

JooM

Thanks. So the fact I've been paying it for so long goes against me?

[Deleted User]

JooM wrote: »

Thanks. So the fact I've been paying it for so long goes against me?

Depends what changes you may have made to your account during that time.. Can you truthfully state that you haven't used any of the account benefits?

JooM

None that I'm aware of. I just stupidly believed what they said and never thought to check the actual interest rates on the different accounts.

[Deleted User]

You can certainly express your concerns to the bank, but your reasons are weak and time bars have often been applied on such packaged account complaints. Expect nothing and you won't be disappointed.

Mersey_2

Yes, that certainly sounds like it was mis-sold.


I successfully reclaimed my NatWest Advantage Gold Account fees plus interest, as mine was also mis-sold, as I wasn't informed there'd be any monthly account fee. But there is a 6 year time bar in most civil matters (if activated).


Best complaining in writing. You can email:


[EMAIL="customer.relations@natwest.com"]customer.relations@natwest.com[/EMAIL] as you need to do this and receive their response before the Ombudsman (FOS) could consider the matter.

tinker15

Are you able to claim against Natwest if you have made a claim whilst holding the Gold Account?

Mersey_2

Yes (in short).

dunstonh

tinker15 wrote: »

Are you able to claim against Natwest if you have made a claim whilst holding the Gold Account?

Assume you mean complain if you have claimed.....

If so, you can still complain if you have claimed on the policy offered within the packaged account. However, it does reduce your chances of success.

1 - It shows you did know about the features offered
2 - you have financially benefited from the features. So, even if they uphold your complaint, they can deduct the cost benefit of the claim from the redress
3 - you cant say none of it was any use to you as they paid out a claim. So, it was.
4 - you cant say you were not eligible as they paid out on a claim proving you were eligible.