Balance Transfer Fees – Misinformed by customer service?

TheShadow_2

I am really annoyed at Natwest. On my credit card agreement there is no mention of Transfer fees and on there website there was no mention.. T
he only mention is on the agreement that comes stuck to the card.

I will be phoneing them tomorrow and i will post my outcome.

grumbler

TheShadow wrote:

...and on there website there was no mention..

http://www.natwest.com/personal/services/creditcards/index.asp?navid=PERSONAL/ACCOUNTS_SERVICES/CREDIT_CARDS:
Summary Box (for any card):

Charges
Cash advances subject to a handling fee of 2% with a minimum of £2; cheques subject to a handling fee of 2% with a minimum of £1.50 and a maximum of £20. No balance transfer fee during the first three months from account opening or during any other applicable special offer period if you give your NatWest current account details during application. Otherwise, balance transfers are subject to a fee of 2% (min £5; max £49). ...

More Information on our Credit Card (for any card):

No balance transfer fee for NatWest current accountholders (non current accountholders 2% of transferred balance. Min Ј5, max Ј49)

TheShadow_2

grumbler wrote:

http://www.natwest.com/personal/services/creditcards/index.asp?navid=PERSONAL/ACCOUNTS_SERVICES/CREDIT_CARDS:
Summary Box (for any card):
More Information on our Credit Card (for any card):

At the time of application this was not on there website this has been added fairly recently

Broke_Bloke_2

Can anyone advise me if this is a good deal or if theres a catch.........

Tarting with a Virgin Card, paying off at min amount a month.

They have an offer on their website (directed at me, as its on my account page) saying 'Transfer balances at the promotional rate of 0.0% until 1 May 2006.'

That date is about the time my current 0% deal with Virgin runs out.

Does this mean that at zero cost I can transfer the balances of other credit cards to top-up my Virgin 'tart card', or whats the catch?

Seems too good to be true, so probably is!

MTIA.

YorkshireBoy

Broke_Bloke wrote:

Can anyone advise me if this is a good deal or if theres a catch.........

Tarting with a Virgin Card, paying off at min amount a month.

They have an offer on their website (directed at me, as its on my account page) saying 'Transfer balances at the promotional rate of 0.0% until 1 May 2006.'

That date is about the time my current 0% deal with Virgin runs out.

Does this mean that at zero cost I can transfer the balances of other credit cards to top-up my Virgin 'tart card', or whats the catch?

Seems too good to be true, so probably is!

MTIA.

They're just reminding you that you have some spare credit available, so you can transfer balances you might have on other cards to your Virgin account.

The catch, if any, is that a BT fee is probably payable - check your T&C's to confirm.

smythe_2

I just got a Barclaycard with no fees, 10mth 0% on balances and 3 mth 0% on purchases. I'm not a Barclays account holder so there's no conditions!!

http://www.personal.barclays.co.uk/BRC1/jsp/brccontrol?site=pfs&task=channelFWgroup&value=6314&target=_self

TheShadow_2

TheShadow wrote:

I am really annoyed at Natwest. On my credit card agreement there is no mention of Transfer fees and on there website there was no mention..

The only mention is on the agreement that comes stuck to the card.

I will be phoneing them tomorrow and i will post my outcome.

Update :

I spoke to 2 members of staff at Natwest one of which told me that they can change there Terms and conditions when they like and that i would have to pay the Balance transfer fee. (There was no reasoning with her so i hanged up)

The second member of staff wasn’t much help either so I asked her to put me onto her manager who I then told to find my original contract and tell me where it said that I would have to pay Balance transfer fees.
Today i received a phone call from them apologising for there mistake and that the Fee would be refunded. Result !

aceifa

Received new card, just activated it then asked about Balance Transfer - a fee of 2.5% due. Challenged using quote from Martins Email and now referred to complaint handlers. Awaiting callback.

Grasper_2

I'm still confused. I've just checked the T&C's for the Lloyds TSB Platinum card, and on balance transfers they say:

"We charge 2% of the amount of each balance transfer or cash withdrawal you make, and for each Cheque you use (minimum £2.50) unless we tell you a charge is not payable."

What does that "unless we tell you" mean? We may or may not charge you depending on how we are feeling?

williamsa_2

MSE_Martin wrote:

Balance Transfer Fees – Misinformed by customer service?

In the Balance Transfers article on this site, my top pick cards are those which offer long 0% transfer offers without charging a hideous fee for the privilege, namely RBS , Natwest and Lloyds Platinum.

However, I get numerous emails, and see a lot of forum comments from people who have been told by customer services at the above banks that a 2% fee will be charged for any balance transfer.

Therefore, I thought I’d put this note together about it (it’s primarily just me publicising the general advice given in this forum about this issue, as I think it’s spot on).

First thing to know - I'm right, they're wrong

This isn't a trite statement, I've been 100% personally reassured by the senior powers at the various banks that no BT fee will be charged when you use these cards during the 9 month intro period.

What if they tell you differently

So, when you call up to arrange your transfer, ask the person you’re dealing with whether a fee will apply.

If they tell you that it will, politely end the call, and dial up again. Do this again, and again, until you get the right answer! Make sure you get the name of the wonderful representative who gave you the happy news, and go through with your fee free transfer.

In case you’re wondering why this happens, it’s simply the case that, on occasion, customer service representatives aren't briefed properly. They're often working in a call centre on various different products and most customers are so ill informed, they take what they're given.

If that still doesn't work

Escalate. Ask to speak to someone senior and get absolute clarification, tell them about this website and that the info comes direct from their senior management.

One thing not to confuse it with

We're talking about balance transfer fees here. However you may be charged for doing a super-balance transfer in some circumstances and that is legitimate.

i have recently taken out a natwest credit card and been charged 22 pounds just for transfering.

So does this mean they are wrong, as i tried calling earlier today as i did not think i shoud be charged it as its 0 % for 5 months