Success Story- NatWest refund

In 2019 i defaulted on my NatWest account due to overdraft charges from package bank account fees. My partner and I are now looking t to o get a mortgage so I’ve been cleaning up my credit file. I thought I would make a complaint to NatWest about the charges under a miss selling of package account complaint. The complaint was upheld by NatWest and I have a £800 refund and the default has been removed as it was a result of there miss sell. I never thought I would get this default off my file!!! So if anyone has struggled with bank charges please complain to your bank... if I can do it anyone can! 

I am now complaining to lending stream for miss selling a pay day loan, I’m less optimistic about this one but it’s worth a shot right? 

Replies

  • 2021BJ2021BJ Forumite
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    So, how was the bank account missold?
  • FarfetchFarfetch Forumite
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    Auto pay to avoid FOS fee, you getting charges for being in your OD is not miss-selling.

    Good luck with the pay day loan though, that is vulture lending of the worst kind

    He who rejects change is the architect of decay. The only human institution which rejects progress is the cemetery.

    -Harold Wilson


  • nic_cnic_c Forumite
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    The complaint to lending stream would be one of irresponsible lending if you believe they did not do adequate checks at the time - which a lot didn't.

    Congrats on getting the Natwest one removed. Package accounts were often pushed on people, and whilst the default occurred because the package fees caused the unauthorised OD, they have probably looked into whether they had made sure the package deal was suitable and found that no checks were done. Employees got bonuses or had sign-up targets, which meant this occurred a lot more than people think.
  • FarfetchFarfetch Forumite
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    nic_c said:
    The complaint to lending stream would be one of irresponsible lending if you believe they did not do adequate checks at the time - which a lot didn't.

    Congrats on getting the Natwest one removed. Package accounts were often pushed on people, and whilst the default occurred because the package fees caused the unauthorised OD, they have probably looked into whether they had made sure the package deal was suitable and found that no checks were done. Employees got bonuses or had sign-up targets, which meant this occurred a lot more than people think.
    Banks didn't have bonuses for staff selling packaged accounts, even if they did have them at one point, the FCA cracked down on it in 2012. Packaged accounts were often the only way someone could get an overdraft, if they didn't need one, they could cancel the account. FOS reject most PBA complaints as they are well documented and sold properly with long audit trails and most older ones are time barred due to the CCLs being sent out by the banks. 

    He who rejects change is the architect of decay. The only human institution which rejects progress is the cemetery.

    -Harold Wilson


  • Jamesyb123Jamesyb123 Forumite
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    Farfetch said:
    nic_c said:
    The complaint to lending stream would be one of irresponsible lending if you believe they did not do adequate checks at the time - which a lot didn't.

    Congrats on getting the Natwest one removed. Package accounts were often pushed on people, and whilst the default occurred because the package fees caused the unauthorised OD, they have probably looked into whether they had made sure the package deal was suitable and found that no checks were done. Employees got bonuses or had sign-up targets, which meant this occurred a lot more than people think.
    Banks didn't have bonuses for staff selling packaged accounts, even if they did have them at one point, the FCA cracked down on it in 2012. Packaged accounts were often the only way someone could get an overdraft, if they didn't need one, they could cancel the account. FOS reject most PBA complaints as they are well documented and sold properly with long audit trails and most older ones are time barred due to the CCLs being sent out by the banks. 
    Incorrect, I received a letter and cheque from Halifax 4 years ago in 2017 refunding me and thousands of other customers who paid for packaged accounts, I didn’t even complain so it has been going on past 2012 for sure and it’s not an isolated issue.
  • md64md64 Forumite
    5 Posts
    First Post
    nic_c said:
    The complaint to lending stream would be one of irresponsible lending if you believe they did not do adequate checks at the time - which a lot didn't.

    Congrats on getting the Natwest one removed. Package accounts were often pushed on people, and whilst the default occurred because the package fees caused the unauthorised OD, they have probably looked into whether they had made sure the package deal was suitable and found that no checks were done. Employees got bonuses or had sign-up targets, which meant this occurred a lot more than people think.
    Thankyou. I went to NatWest for some travel insurance and ended up with an account that had loads of extras I would never use. They also didn’t check if I could afford the monthly’s. The refund was given as I never used any of the extras sold to me with the account and the o/d charges where a result of not being able to afford the monthly payments in the account. 

    Fingers crossed for the PDL complaint. 
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