NatWest £125 switch incentive

[Deleted User]

matrix999 wrote: »

Just a heads up....

Complaints dept are open Saturday 14/04 08:30-14:30
Switching Team are open Saturday 14/04 08:00-14:00

Still not received any payment yet so if not in account at some point tonight complaint will be logged tomorrow morning.

Info re opening times given by Telephone banking, advisor told me they have been inundated with calls about missing switcher bonus payments

There will be long waiting times on those numbers tomorrow morning. Might be best to hold fire and watch this thread for more info. You'll eventually get the bonus (and compensation for late payment) if you qualify (and avoid aggravation and time waste tomorrow).

Herbalus

Deleted_User wrote: »

These lucky customers are in for big compensation if they have to wait until well into next week. Wish I was one of them...

Do you think so? How big do you think compensation will actually be, if any at all?

Full disclaimer, I am currently waiting for mine, and if it comes today, fantastic. If it comes tomorrow or next week, I am not sure what loss I have incurred by receiving £125 a few days later. It's true that NatWest would have broken their terms if they paid the bonus next Weds, and you could say they have a contractual obligation to pay punctually, but what is that delay actually worth?

At 2% it's 0.7pence per day. It might be irritating to not know when it's coming, but hardly worth serious bucks.

If I have to chase next Weds and get passed from pillar to post, then I might have a claim for being messed around, but then nobody who was paid on time had to spend any effort trying to resolve an issue.

matrix999

Herbalus wrote: »

Do you think so? How big do you think compensation will actually be, if any at all?

Full disclaimer, I am currently waiting for mine, and if it comes today, fantastic. If it comes tomorrow or next week, I am not sure what loss I have incurred by receiving £125 a few days later. It's true that NatWest would have broken their terms if they paid the bonus next Weds, and you could say they have a contractual obligation to pay punctually, but what is that delay actually worth?

At 2% it's 0.7pence per day. It might be irritating to not know when it's coming, but hardly worth serious bucks.

If I have to chase next Weds and get passed from pillar to post, then I might have a claim for being messed around, but then nobody who was paid on time had to spend any effort trying to resolve an issue.

Time and trouble payment, car parking if you had to go into branch to sort it out, telephone calls etc can all be claimed back as well.

[Deleted User]

Herbalus wrote: »

Do you think so? How big do you think compensation will actually be, if any at all?

Full disclaimer, I am currently waiting for mine, and if it comes today, fantastic. If it comes tomorrow or next week, I am not sure what loss I have incurred by receiving £125 a few days later. It's true that NatWest would have broken their terms if they paid the bonus next Weds, and you could say they have a contractual obligation to pay punctually, but what is that delay actually worth?

At 2% it's 0.7pence per day. It might be irritating to not know when it's coming, but hardly worth serious bucks.

If I have to chase next Weds and get passed from pillar to post, then I might have a claim for being messed around, but then nobody who was paid on time had to spend any effort trying to resolve an issue.

I predict that you will get at least £50 compensation. It's not compensation for (just) losing out on interest on the £125 but for the mental distress and annoyance.

Herbalus

NJA22 wrote: »

Thanks for the suggestions.
Yes, should have mentioned both were done before 16th March cut off. The reasons was something to do with the switch, will re-call tomorrow for clarification.

This is interesting. The terms of the offer regarding the switch were:

complete a full switch of a non-NatWest account to your eligible account using the Current Account Switch Service;

That is quite broad in itself. There is no mention of the switched account (Nationwide in your case) having direct debits or anything. I would be interested to hear the reason.

Herbalus

Deleted_User wrote: »

I predict that you will get at least £50 compensation. It's not compensation for (just) losing out on interest on the £125 but for the mental distress* and annoyance.

*My emphasis.

Really? Can people claim mental distress for this? Isn't that a bit over the top.

Re the other poster, I would agree expenses incurred, but there's no need to visit a branch and pay for parking to resolve this.

YorkshireBoy

NJA22 wrote: »

The reasons was something to do with the switch...

Were you told by Nationwide (online and by letter) that you were switching out?
Was the Nationwide account closed on, or shortly after, switch date?
Did NatWest send you a list of payments on the Nationwide account, that you could elect to switch or leave on Nationwide, prior to switch date?

matrix999

Herbalus wrote: »

*My emphasis.

Really? Can people claim mental distress for this? Isn't that a bit over the top.

Re the other poster, I would agree expenses incurred, but there's no need to visit a branch and pay for parking to resolve this.

What I mean is if you already had done this then you could claim it back.

18cc

I think normally you can expect about £25 really without having to prove mental distress or anything like that it's just the minimum figure that they will pay you just because the complaint was upheld

[Deleted User]

Herbalus wrote: »

*My emphasis.

Really? Can people claim mental distress for this? Isn't that a bit over the top.

Re the other poster, I would agree expenses incurred, but there's no need to visit a branch and pay for parking to resolve this.

For some people there will be mental distress. If this doesn't apply to you, you are perfectly entitled not to ask for any compensation-or to refuse any compensation offered to you. I am sure that the chief executive of RBS group will be delighted as s/he surveys their bonus package reward for such a successful and brilliantly executed switch scheme.