Natwest/RBS Payout Times
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Oh dear RBS...
I've got a claim pending too. Effectively four separate loans (long story) with a total refund of around £7k. My claim has been in their system for months. They dragged their heels during the 'investigation' period, taking the maximum permitted time and using every possible extension, sending acknowledgement letters on the last permissible date, apologies about 'backlogs'. That sort of thing.
Finally in August they made me an offer of a refund, which I immediately accepted. They received my signed acceptances the following day. It has now been 28 days...
plus one week...
plus one day...
...and counting.
Since the deadline was missed I have made several phone calls, but like many of the posters here, have found that it isn't often answered. I've discovered that it automatically cuts off after 7mins 30s. Sometimes longer, sometimes less. They can't even be consistent in that.
On Friday, I finally got through at about 4:58pm. I asked what was causing the delay and for a clear idea of when I would receive the money. The advisor said that she couldn't find out at that time on a Friday and would call me on Monday.
She didn't.
This afternoon I called them myself.
Not too bad -got through at the fifth attempt. I asked why I had not received my callback –the advisor did not know. I asked what had been done to resolve the issue since Friday –she did not know. She asked me what I wanted –I explained the situation. She said that she would have to refer this to her colleague. She did not know the name of the colleague or even their job title. It was ‘whoever would be on duty’. She mentioned ‘Customer Service A or B’.
Whatever that means.
I asked what would happen, whether I would be called back. The advisor said that it would be best for me to call. I said that this was not acceptable as the phone is rarely answered –it took five attempts to get through today and at least five on Friday. She confirmed my telephone number for a callback. No promises, like.
I said that I found the situation to be grossly unfair. The company had created the problem and was now taking an excessively long time to resolve it. The advisor said that they payments team have a backlog. I said that a backlog is one thing, but this is now over a week overdue. She said it would need to be investigated. I said that I failed to see what would need investigating by now –the offer had been agreed and the company had put funds ready to make payouts.
I remain, waiting.
You know, it's funny. How many people must RBS group have phoned and pursued over the years? How many of them must have tried to avoid the issue by not answering the phone, or by making apologies and excuses? I've been one myself.
Funny now the boot is on the other foot, eh RBS?
I'm in a similar boat, although my acceptance form has just been received yesterday, well signed for, they probably won't scan it in for another week or two.
As one of the other posters has done, maybe contacting BBC's watchdog might be an avenue to look at.
I have five complaints being accepted, and it's just over £10k. But one of the loans I had defaulted on, which got the largest redress, no doubt they will pay the rest off out of the money they have offered me, but they don't say how much, I now pay so much every month to Capquest so I need to find out if I still need to pay them as RBS will settle this themselves, just don't want to pay Capquest any more if I don't need to.
Good luck and keep us posted on how you get on.
I take an email to [EMAIL="Stephen.Hester@rbs.co.uk"]Stephen.Hester@rbs.co.uk[/EMAIL] hasn't worked?Thanks to all the competition posters.0 -
I'm in a similar boat, although my acceptance form has just been received yesterday, well signed for, they probably won't scan it in for another week or two.
As one of the other posters has done, maybe contacting BBC's watchdog might be an avenue to look at.
I have five complaints being accepted, and it's just over £10k. But one of the loans I had defaulted on, which got the largest redress, no doubt they will pay the rest off out of the money they have offered me, but they don't say how much, I now pay so much every month to Capquest so I need to find out if I still need to pay them as RBS will settle this themselves, just don't want to pay Capquest any more if I don't need to.
Good luck and keep us posted on how you get on.
I take an email to [EMAIL="Stephen.Hester@rbs.co.uk"]Stephen.Hester@rbs.co.uk[/EMAIL] hasn't worked?
Re the loan with capquest,if rbs sold the loan completely to crapq they CANNOT pay the money over to them-many banks will try but it breaches the law regarding financial set offs to pay any money to a third party.
Wait and see tho you may find they are so busy sending out cheques they don't even bother (seen a few people get cheques when they thought they would be some offsets)-you can then negotiate a F & F with the DCA to settle early.
Ali x"Overthinking every little thing
Acknowledge the bell you cant unring"0 -
Hi - I actully got through to them this morning. I started ringing the 0161 number dead on 8 am but it cut off so I tried the 0800 number and got through after about 15-20 minutes. Only to be told that they had stated "they would endeavour to pay out within 28 working days" and that they were behind, they had been up to 2 weeks behind but he didnt know how much now but they would be paying interest on every day they were late! I bet its not as much interest they charged us every day we were late with payments, etc.!!! My "28 workng days" is actually up today he said and not yesterday as I was told the other day! They received my acceptance on 2nd September.
I had a claim with Egg earlier and they told me that I would receive a cheque within 10 days but it came after just about 4 if they can do this why cant Nat West I wonder?0 -
Thanks Ali, I have checked with Capquest they don't own the debt it is solely RBS, they are just collecting, I had the same thought as you, but we'll see what comes of it, I just wanted to avoid paying another couple of hundred quid if I didn't need to. Of course I could still do this and when they or RBS threaten with any sort of threat, I'll copy their letters word for word and say that their complaint is being dealt with and I'd hope the get back to them within the next 16 weeks, but I will only endeavour to meet this target:rotfl::rotfl:Re the loan with capquest,if rbs sold the loan completely to crapq they CANNOT pay the money over to them-many banks will try but it breaches the law regarding financial set offs to pay any money to a third party.
Wait and see tho you may find they are so busy sending out cheques they don't even bother (seen a few people get cheques when they thought they would be some offsets)-you can then negotiate a F & F with the DCA to settle early.
Ali x
Seriously, though in the small print on the offer letter it does say that they will check for any further payments to the loan account before making any settlement so that there are counted too.
As you say though maybe they'll be too busy to remember to settle it, I'm also wanting to see how much that particular loan will be reduced by to then see how much I will be down on the redress payment to settle it, which I plan to do even if they send me the whole amount.Thanks to all the competition posters.0 -
hi guys ive waited 28 day and after 4hrs on the phone they told me that on the forms it said they would endever to pay me within 28 days i dont know about you guys but i didnt see that anywere also it will take 2-3 more weeks and to top it off the guy was really snooty about it and when i asked to speak to his manager he point blanked refused then cut me off iv tryed to complain but iv been sent around in circals and ended up back at natwest and complaining through them what a joke how long dose it take to put some numbers in to a computer :mad::mad::mad::mad:0
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I am so upset to be reading all of this.
I worked for RBS for 13 years, was treated like complete plankton as a member of staff, and they even paid my redundancy money late!!!!
I can't believe they now have the cheek to be paying PPI refunds of OUR money late too.
Well my account with them is currently overdrawn and racking up a £6 per day charge.
They had better be prepared for a bank charges fight too.
Watchdog it is guys!!0 -
Hi therehi guys ive waited 28 day and after 4hrs on the phone they told me that on the forms it said they would endever to pay me within 28 days i dont know about you guys but i didnt see that anywere also it will take 2-3 more weeks and to top it off the guy was really snooty about it and when i asked to speak to his manager he point blanked refused then cut me off iv tryed to complain but iv been sent around in circals and ended up back at natwest and complaining through them what a joke how long dose it take to put some numbers in to a computer :mad::mad::mad::mad:
It does say they will endeavour to pay in 28 working days on the letter. I think the problem is that when people phone they are being told all different things i.e. 2/3 weeks behind, 1/2 weeks behind, 1 week behind. To be honest I dont think they know how long its going to take and thats what is getting folks backs up. I think its best to email Stephen.Hester@rbs.co.uk and explain your concerns. I dont get upset at whoever answers the phone as its not their fault - its the bad organisation and lack of staff and thats a management problem. I have logged a complaint with BBC Watchhdog and I think others dealing with different banks have also. Hopefully they can bring the heads of the banks to task about what should have been a fairly simple process.
Cheers.0 -
Yep, waited 8 weeks for ppi refund to be calculated ... then advised the banks had been given ANOTHER 8 weeks ... received offer 2 days before the 16 week time limit elapsed ... accepted offer same day ... advised it would take 28 WORKING days for payout ... 28 WORKING days elapsed ... still no payout ... and another day ... and another week ... SHAME ON YOU NAT WEST / RBS - YOU ARE A DISGRACE !!! Has anybody actually received their refund from these cowboys yet ??? :mad:0
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Hi i am waiting for my cheque from Lloyds should have been before the 13th i have just spoken to them and been told that all cheques are on hold and they couldn't give me an answer as to when i would get it . I am fuming has anyone else had this problem as i was told a lot of people are complaining .0
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