Natwest -advantage gold

jopwo_87

Hi there,

I have terrible credit, i mean seriously bad, continuos defaults, and more recently my first CCJ. I am not even registered on the electoral role.

Anyway to make a clean break, i decided to just start a new basic clean bank account with Natwest, and applied for their basic easy step account (or something like that, basically an electron card, no overdraft etc)

I went in to complete the application and i explained the situaion to this women i thought was really helpful. She said she would just run the details through the system and check to see if i would qualify for an advantage gold account. Lo and Behold, i did!!

She said she was surprised, and that for £12 a month i could have a premier account with overdraft and even a loan etc if i kept it in good order for 3 months. Great i thought and set it up, thinking i had a great deal.

I have paid my £12 every month, and put my wages into the account, and never once gone overdrawn. After 4 months i applied for an overdraft of £100 and was refused. I felt a bit cheated, as i was promised byt the women that they would help me, but still kept paying the £12 a month for the advantage gold account. Another 3 months later and i applied again, and was told i could have a £50 overdraft but that was it.

I have never used the benefits on the account, ie travel insurance, car breakdown etc. I don't need them and can't use them, so if after 7 months all i have got it a £50 overdraft then what the hell am i paying £12 a month for!!

I feel really cheated now and was wondering if anyone knows how to go about stopping the advantage gold part of the account, and if i did, would i loose the £50 overdraft?

Thanks

Jo

freddy08

You can ask to be downgraded to their current plus account.

You may not get an overdraft straight away but if you keep the account in good order then you will get one in time plus you will save £12 a month.

Actually I think Advange Gold has increased to £12.95 a month.

imugg

I contacted nat wast in 2006 to open an account for my wages to be paid into, and suprise, suprise I was told that I had qualified for the presigious advantage gold account with all the advantages that goes with it, I did not find out untill last month that I had been charged £12 a month for this prestigious account. I have now asked for my money back, as I believe that I have been miss sold a totaly inaproprate product by the sale's person. Up to yet they have refused saying that you agreed to paying the fee's, but have not commented on the fact that it is a unsuitable produc for me, but then they have to get some money back for the finnantial !!!! ups they have made over the last few years. My advice to everyone is to STOP this rip off account NOW it has little or no advantages at all.

Night-owl_6

The same happend to me, I was lied to my A & L and promised a overdraft, in 3 months, I waited and waited and STILL dont have one with them, they lied to me and keep doing so however everything else with them is great so I am staying with them!

jopwo_87

I have been in to my local branch and was told that they couldnt do it as i needed to sit down and have a meeting with an advisor to do this.

This means travelling to my next town, costing me money on the bus, just to stop it!!

Its a joke!

Naomim

Natwest upgraded our joint account from a basic to an Advantage Gold without our consent. As soon as I realised I was paying an extra £12 for "benfits" I wasn't even using or want, I called them up and cancelled it and downgraded to a current plus account. I didn't have to go into a branch to do this.

HTH

Naomi

mell242

I am considering cancelling (or attempting to) my Advantage Gold account. To be honest I don't even remember saying I wanted to upgrade my account at any time and I've been paying it for years now!! Feel really stupid.

I don't think that I have made use of any of the benefits except a discounted loan rate. Now, I do have a loan with them of £11,000 at a rate of 7%. Would they be able to change this rate if I do cancel the Advantage Gold?

I really think it's a con though!

vet8

Advantage Gold is a total rip off.

Natwest was DESPERATE to transfer me to it, they did eventually and when I realised what rubbish it was I wrote to them to cancel it, which they did. They then put me back on it again when I was out of the country. I went mad again. :mad:

You do not need to speak to anyone about this, just phone or write and cancel it. It is a complete con, all the so-called "advantages" are just rubbish and to be charged £12 a month when their normal account is free is just robbery.

jorichste

I'm out of the country for a while and have a natwest gold account. I would like to change to a standard account but do you have to have new debit cards or anything, obviously I'm not there to get them?? £12 a month is a lot of money for something i never use!

mystic_trev

I used to have NATWEST Private banking and for years paid over £250 quid for a service I didn't use. When I told them I wanted to change it to a basic Bank account, they said I'd have to talk to my 'Relationship manager' I told them that in that case I'd close the account. They soon changed there minds and it's now just a basic account, however they did let me keep my £10,000 overdraft facility!!!!!!

JaRocks28

mell242 wrote: »

I am considering cancelling (or attempting to) my Advantage Gold account. To be honest I don't even remember saying I wanted to upgrade my account at any time and I've been paying it for years now!! Feel really stupid.

I don't think that I have made use of any of the benefits except a discounted loan rate. Now, I do have a loan with them of £11,000 at a rate of 7%. Would they be able to change this rate if I do cancel the Advantage Gold?

I really think it's a con though!

Hi there, I work for natwest (in the call centre) and you can cancel the Advantage Gold whenever.. and the branch normally force people into it so they get points for commission. But if you downgrade your account the 7% apr you are paying on your loan will stay.