Nat West - Closing Account Fees

Guesty6

Hoping someone can help me out.

Had a nat west account, was about 1000 in the O/D, paid that back over 2 or 3 monthly deposits.

So i took the balance to Zero and asked to close the account

They said they cant do that because of some "Charges" - totalling 75 quid!!!

Now i get another statement and they charged me another 12 pound when i havent even touched the account since, so I am 87 pounts in the overdraft and no-one seems to be able to tell me what the fees are for!

Any ideas??

Cheers

pinkthinks

Ask for a breakdown of the charges. Did you exceed your agreed limit at any time, bearing in mind that the over limit charge is charged a month 'behind'. Any unpaid item charges? Any paid item charges? There could also be residual interest to pay on the decreasing o/d amount of £1000. Is it an advantage gold account which also attracts a monthly fee?

ken_and_dot

Not sure of the legal position but I would be inclined to write to them requesting that the account be closed and that you will only pay the outstanding charges if they can inform you of the nature of the charges and their justification.

Guesty6

pinkthinks wrote: »

Ask for a breakdown of the charges. Did you exceed your agreed limit at any time, bearing in mind that the over limit charge is charged a month 'behind'. Any unpaid item charges? Any paid item charges? There could also be residual interest to pay on the decreasing o/d amount of £1000. Is it an advantage gold account which also attracts a monthly fee?

Am going to write them a letter asking for a full list of charges, I will then post them up to see that they are lawful etc.

It is an advantage gold but I have never noticed a monthly charge on the account.

Cheers for all help

noh

The Advantage Gold has a £12 a month fee payable in arrears so thats where the £12 has come from.
The £75 is likely to be charges from when you were in overdraft which are applied in arrears.
http://www.natwest.com/personal02.asp?id=PERSONAL/DAY_TO_DAY/CURRENT_ACCOUNTS/ADDED_VALUE_ACCOUNTS/ADVANTAGE_GOLD

http://www.natwest.com/content/global_options/terms/Guide_Fees_Interest.pdf

Nigel

Guesty6

£12 a month! Jeeeez, have never paid that before at all! very strange!

Guesty6

Finally got a call from Nat West!!

£12 per month as you said

£28 for going over my overdraft twice :O (I can claim those back or attempt it?)

and Interest on the overdraft...!

pinkthinks

Someone else will be better placed to reply regarding the claiming back, but I think all claims are frozen until the outcome of the court case. Have a look on the reclaiming board as I also think you can still claim but they just won't deal with it yet.

If it were me, I'd go into a branch, say you want to close the account & they'll tell you to fill a form in. They will be able to tell you how much it will 'cost' you to close your account however, and if you're in a position to do it chuck this money in your account then and there to avoid any spiralling charges cycle!!

loopyloo22

hi i have had the same problem with natwest i hate them you can get the charges back i have wrote to them and they gave me what i wanted back except from 10 less which i wasnt bothered as i got all my money back i had to pay 568.00 in charges got them back now print the letter off about charges and send it to them asnd if they say they wont pay tell them you are taking thwem to court they will pay thats what i di good luck