Am I entitled to reclaim packaged account charges?

RS2OOO

I'll be the first to admit this may come across as opportunist, and in all honesty having only just read the MSE Reclaim Packaged Account charges, that's exactly what it is.

I had a (free) Natwest Advantage Gold account since 1992.
In 2003 the company I worked for was taken over by RBS and one of the T&Cs were that staff banked with the RBS group.

All staff were offered "Your Bank" accounts, which in my case banking with Natwest is the Select Platinum Account product, which was free for staff. I filled out a form, received a booklet with various insurance benefits and that was that.

I left the company in 2007 and do remember a "leavers letter" which explained any staff banking benefits would now be taken away (preferential mortgage rate etc), and other products including packaged accounts would become chargeable.

However, no charges were ever taken from my Platinum Account so I just left it running.

In 2012 I phoned the bank about a loan, and was told being a staff member I had to speak to the staff department. I explained I was no longer staff, and the operative duly set up a loan for me.

The following Month I noticed an £18 charge come from the account, on the statement it simply says "CHG". This charged has continued every Month right up until now.

The person I spoke to on the phone must have finally taken the staff marker off my account, and as I had an upcoming holiday and the benefits include travel insurance I just left it running and more or less forgot about it.

Recently I received an email stating the charge would be increased to £20. Again I simply thought I need to get around to sorting this out but didn't take action.

A couple of weeks ago I received an email saying some of the account benefits are being reduced which is what has spurred me into action now.

I've never actually used any of the benefits associated with the account, but admittedly haven't been buying travel insurance because I knew the account covered that. I also receive a 2% rebate on utility direct debits as one of the account benefits, works out around £5 per Month.

Based on all this do I have any grounds to reclaim the packaged account fees?

[Deleted User]

RS2OOO wrote: »

do I have any grounds to reclaim the packaged account fees?

Nothing you've said indicates in any way that you were mis-sold this account since you've regularly used and enjoyed the account's benefits over the years. Any complaint is therefore likely to fail. What would be the basis for a complaint other than "free money"?

However, if you don't want to pay the monthly fee then cancel the account and use a free one. Obviously, you'll have to consider whether the subscription remains cost effective, especially with some of the benefits being withdrawn and the price rise.

JimmyTheWig

If anything, you're liable for 5 years worth of fees, I'm afraid...

RS2OOO

Fair answers, thank you.

Entirely my negligence that I've left it running for so long and not done anything about it, just wondered where I stand legally (as opposed to morally).

The account was never "sold" to me so I guess it couldn't have been mis-sold, but I was also not notified prior to the account becoming chargeable (well, I was, but that was 5 years prior to them actually commencing the charges).

Never used any of the benefits of the account, but in all honesty I knew the benefits were there and would have used the travel insurance had I needed it.

So yes, free money was the potential motive, but obviously only if it could be legally supported.

Thanks again for the up front responses.

[Deleted User]

RS2OOO wrote: »

Never used any of the benefits of the account

But earlier you contradicted yourself

RS2OOO wrote: »

admittedly haven't been buying travel insurance because I knew the account covered that. I also receive a 2% rebate on utility direct debits as one of the account benefits,

That's using the benefits, I'm afraid..
You also used the account for free for five years even though you were no longer entitled!

RS2OOO wrote: »

I was also not notified prior to the account becoming chargeable (well, I was, but that was 5 years prior to them actually commencing the charges).

So you were informed, but took no action to inform them when the Bank continued to provide it free for years!

RS2OOO wrote: »

So yes, free money was the potential motive, but obviously only if it could be legally supported.

What "legal argument" are you proposing to use? In your shoes, I'd be letting sleeping dogs lie....