Reclaiming Monthly fees for current accounts "Natwest Rewards and Santander 1-2-3 Lite"

deejbk01

Hi, 

I have two cashback bank accounts, which I use to earn a few pounds each month. The Santander 1-2-3 Lite account and the Natwest Rewards account. 

Both accounts have a £2 fee which I've always just accepted as part of the account, as typically I earn £5 monthly in rewards/cashback, so the monthly fee, just reduces the amount I earn each month.

However I've heard that Bank account monthly fees can often re requested to be waived. I wonder if anyone else has tried this for either of these?

Additionally, has anyone ever gone one stap further and requested refund of historic monthly fee payments?

Many thanks
Dan

n.b. I am not aware of either accounts coming with insurance policies as per https://www.moneysavingexpert.com/reclaim/reclaim-packaged-bank-accounts

elsien

I'm not seeing the grounds on which you would request the frees being waived, given they are part of the terms and conditions of the account which you agreed to when you set it up, and which you have been benefitting from ever since?
Where have you seen the information that the request can be made and accepted?  I can only see where you change your mind shortly after setting it up.
Account Fee Clarification After Changing Mind | NatWest Support Centre

35har1old

deejbk01 said:

Hi, 

I have two cashback bank accounts, which I use to earn a few pounds each month. The Santander 1-2-3 Lite account and the Natwest Rewards account. 

Both accounts have a £2 fee which I've always just accepted as part of the account, as typically I earn £5 monthly in rewards/cashback, so the monthly fee, just reduces the amount I earn each month.

However I've heard that Bank account monthly fees can often re requested to be waived. I wonder if anyone else has tried this for either of these?

Additionally, has anyone ever gone one stap further and requested refund of historic monthly fee payments?

Many thanks
Dan

n.b. I am not aware of either accounts coming with insurance policies as per https://www.moneysavingexpert.com/reclaim/reclaim-packaged-bank-accounts

Paying the fee entitles you to the £5 reward  no fee no DD no reward.
Perphaps they could remove the fee and pay £1 per DD limited to 2 and a pound for logging in via the app

deejbk01

elsien said:

I'm not seeing the grounds on which you would request the frees being waived, given they are part of the terms and conditions of the account which you agreed to when you set it up, and which you have been benefitting from ever since?
Where have you seen the information that the request can be made and accepted?  I can only see where you change your mind shortly after setting it up.
Account Fee Clarification After Changing Mind | NatWest Support Centre

I do not have any grounds on which to request they are be waived, which which is why I'm asking here, has anyone successfully had monthly fees waived. Maybe the answer no. Maybe someone has has once one the basis that the monthly maintenance fee wasn't proportionate. Maybe the bank might just say yes to anyone who asks. Maybe you threaten to go elsewhere and trot out the valued customer line, and they reluctantly agree to it. I don't know... it seemed a good question to ask, however lack of response may indicate that its not something that can be done

Nasqueron

deejbk01 said:

elsien said:

I'm not seeing the grounds on which you would request the frees being waived, given they are part of the terms and conditions of the account which you agreed to when you set it up, and which you have been benefitting from ever since?
Where have you seen the information that the request can be made and accepted?  I can only see where you change your mind shortly after setting it up.
Account Fee Clarification After Changing Mind | NatWest Support Centre

I do not have any grounds on which to request they are be waived, which which is why I'm asking here, has anyone successfully had monthly fees waived. Maybe the answer no. Maybe someone has has once one the basis that the monthly maintenance fee wasn't proportionate. Maybe the bank might just say yes to anyone who asks. Maybe you threaten to go elsewhere and trot out the valued customer line, and they reluctantly agree to it. I don't know... it seemed a good question to ask, however lack of response may indicate that its not something that can be done

The topic of reclaiming monthly account fees is for packaged accounts for the most part where people somehow didn't realise they were paying or the benefits were never suitable and they tend to be unsuccessful as so many are timed barred or have paperwork/wording that is very clear so there isn't an argument you were not aware. The NatWest/RBS fee is there to access the benefits of the account which includes the £3 a month net reward. If you threaten to leave, they will happily shut the account for you, there is zero benefit to them financially to give you £5 a month rather than £3

DullGreyGuy

deejbk01 said:

elsien said:

I'm not seeing the grounds on which you would request the frees being waived, given they are part of the terms and conditions of the account which you agreed to when you set it up, and which you have been benefitting from ever since?
Where have you seen the information that the request can be made and accepted?  I can only see where you change your mind shortly after setting it up.
Account Fee Clarification After Changing Mind | NatWest Support Centre

I do not have any grounds on which to request they are be waived, which which is why I'm asking here, has anyone successfully had monthly fees waived. Maybe the answer no. Maybe someone has has once one the basis that the monthly maintenance fee wasn't proportionate. Maybe the bank might just say yes to anyone who asks. Maybe you threaten to go elsewhere and trot out the valued customer line, and they reluctantly agree to it. I don't know... it seemed a good question to ask, however lack of response may indicate that its not something that can be done

It's basically an mis-selling complaint so you have to show that the account was unsuitable for you and that you got no benefit from it. So think of the 85 year old granny sold a packaged account that for £12 a month includes RAC breakdown and Worldwide travel insurance but they've never driven a car and hasn't had a passport for 20 years. This has a reasonable prospect of claiming they were mis-sold it as they got no benefit and likely never will.

You made £3 a month, you've a snowballs chance and in principle even if you did then they could argue you would have to repay all the £5's you've been awarded and so you'd repay them more than the waived fees you get.