Natwest Reward account reclaiming?

Years ago I was on a standard (free) Natwest bank account. One day I got a phone call from Natwest saying the account I was on was old and no longer being offered and I HAD to change to their Advantage gold account (around £15 a month) as my old account would be closed down. I reluctantly agreed as I wanted to stay with natwest and they gave me the account, although the old account was never closed (it is still open and I can use it!). At some point over the last few years this changed to a reward platinum account (without me asking, I am assuming because the advantage account was no longer on offer).
I was hoping to make a complaint to Natwest for the account being mis-sold as they told me I had to upgrade as the old one would be closed. However, one of the benefits of the account is breakdown cover, which I have used 2 or 3 times during the life of the account. Added to this, the reward account gives me cashback on direct debit and bills, which goes back into my account whenever I request it.

Due to the fact that I have actually used the services on the account, ie cashback and breakdown cover, am I in a position to complain about the charge for the account that I was forced into?

Replies

  • dunstonhdunstonh Forumite
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    Due to the fact that I have actually used the services on the account, ie cashback and breakdown cover, am I in a position to complain about the charge for the account that I was forced into?
    Theoretically no.  
    However, there are issues to be aware of.
    1 - its unlikely any record of the conversation exists.  So, yours is an unprovable allegation.    
    2 - With unprovable allegations, they look at the likelihood of you having something you didnt want or use.     Problem is that you have used it multiple times and multiple bits of the package.
    3 - Even if they uphold your complaint.  They can deduct the retail cost of the benefits you have received from any redress and that often means you get nothing back. Breakdown cover is usually more expensive standalone then in a PBA.
    4 - Natwest have been sending out annual benefit statements for years telling you that the account is optional and you can switch to a fees free account.    3 years of those allows them to timebar the complaint if they wish.

    At the end of the day, we cannot predict the outcome.  Banks are sometimes strange in their decisions and we dont have the full audit trail to rely on.  Just your side to the story.     But based on what you have told us, your complaint is weak.    You are in a position to complain about whatever you like.   Just dont be hopeful about its success.


    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • steve.b83steve.b83 Forumite
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    Thought so, thank you for your time  :)
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