Natwest 12 month 0% - interest on transfer fee!!

Moggles_2

Originally Posted by redridinghood
I have just called them and was told that there have been many people calling in with regard to the same query about interest today. They told me that this is a problem with their system and that I would not be charged interest on my account as long as I make the minimum payments and do not go over my credit limit or make purchases.

Doesn't inspire confidence, does it? :rolleyes:

Yours is a special case, as NatWest allowed you to balance transfer up to your credit limit and then slapped a handling charge on top, taking you over your credit limit.

If I were you, I'd phone them on Monday during normal business hours, when you're more likely to be put through to someone who knows what they're talking about

Very best
M

redridinghood_2

Moggles wrote: »

Doesn't inspire confidence, does it? :rolleyes:

Yours is a special case, as NatWest allowed you to balance transfer up to your credit limit and then slapped a handling charge on top, taking you over your credit limit.

If I were you, I'd phone them on Monday during normal business hours, when you're more likely to be put through to someone who knows what they're talking about

Very best
M

To be honest I really don't think that will make any difference. I have phoned during their business hours. Basically the need for training is clear!

scoot65

Any updates on this?

I'm three months into a 13 months BT with NatWest. My BT was £2,101.18 which included £41.20 BT fee.

I now see that my latest statement reads "If I make the minimum payment of £42.00 by the due date, my estimated interest payment next month is £20.42"

I'm actually paying off £100 each month, so that's well above the min payment. My question is, at the end of my 13 months will this BT fee of £41.20 have increased by attracting interest over the previous 13 months?

Thanks...

jay78

Has anyone found out where in Natwests T&C's, it states that the fee will attract interest unless paid off first? I can't see it on their website.

Thanks

jay78

jay78 wrote: »

Has anyone found out where in Natwests T&C's, it states that the fee will attract interest unless paid off first? I can't see it on their website.

Thanks

Bump___________________

msaquib

Just looked at Natwest Tearms and conditions and does say:-

2(C) How and when intererst charges are calculated
b - We charge interest on (i) any fee charged on a particular category of transaction, e.g. advances, balance transfers and any other non-transaction fee or charge, from the day debited to the account at the same rate as purchases and we charge interest on such interest at the purchase rate.

From what I read the above explains that the balance transfer fees will incur interest. I guess tearms will be same for all RBS branded cards, e.g. Natwest, RBS & Mint.

I'm not sure if Natwest will allow the account to be credit so whatever charged for BT fees are paid first.

MS