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Reclaim Mis-sold NatWest Advantage Gold Package Accounts – Successful Case Study

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  • Reclaim Mis-sold NatWest Advantage Gold Package Accounts – Successful Case Study

    Category: Latest News

    With thanks to loulouxx who won a refund of packaged account fees and associated interest of £8k from Natwest this week.


    • Background

    I took out a NatWest Advantage Gold Account in November 2001 in the Branch. This was my first experience of ‘Adult Banking’ as I was upgrading from an Under 18’s Basic Account.

    • Complaint

    That I was given incorrect information and no information at the branch. I was told that I had to take out a fee paying account to be able to get any form of credit and that it would boost my rating.
    I never received any notifications of fee increases, I only noticed the increase from my bank statement and when I called to cancel I was told if I did I would lose my Credit card and Overdraft and would need to repay the debt within 30 days which would’ve put me in a difficult financial position, thus I had no choice but to keep the ‘packaged’ account open.
    I also stated that the policies were inadequate and of no use to me as in some cases I had to take out a second policy.

    • Steps taken before and during my claim


    I gathered all my information that I still had for the Account. This included the welcome pack, fee increases and dates for when I took out the account and when the account closed.
    I called NatWest Customer Services and filled in any gaps I had such as the fee increases.
    I then researched using the way back machine archive to search for historical rates on cards, loan and overdrafts.
    I also used review sites that were from the time I took out the account and of course Google.
    Once I had everything together I then read all the information from my welcome pack.

    First was my Travel insurance policy, I also had an old insurance policy I took out in 2003 with my travel agent. I compared both policies and found why I had to take out a second policy. Under AG travel insurance from 2001 it didn’t cover ‘Personal Money, Passport or Legal Expenses. These were all paid extras on the AG policy. They were covered under my 2nd policy.

    I then looked at Mortgages, cover for white goods and household insurance discounts. This was no benefit to me as I didn’t own my own home and lived – still do – with my parents.

    I then looked at Mobile insurance. I didn’t have any information for this so my first reason why I couldn’t use it was I didn’t know a phone needed to be registered or even that the insurance existed.

    I also found that Break Down was a Benefit but I later found out that it was not added until 2008. This gave me 2 reasons firstly I don’t drive, nor hold a license or own a car and I never have the second was that I was never sent any changes in reference to the Packaged.

    I sent off my letter on the 26/02/2014. Outlining the above and gave a detailed account of the sale and that I wanted all my fees I had paid plus the 8% interest.
    I wanted to research the interests that I had received throughout having the account for a credit card, loan and an overdraft as I had a tariff that showed preferential rates for AG account holders.

    I didn’t find anything comparable in regards to NatWest free accounts but I did find interest for 2001 for a free account at Nationwide, Barclays and Santander (was back then Abbey National) which showed that the rates I got were of no benefit and this also back up the fact that I was given no other option to compare the benefits vs a free account. This was also true for my loan and my overdraft.

    I had received no acknowledgement or response to my letter so I sent an email to RBS CEO along with my letter and I also added the update info I had found in regards to rates and as I had all the information on what policies and the reasons plus more I restated each one listing and why I had no use for it. That was sent on the 05/03/2014 at around 11pm.

    I received a phone call from the complaints team on 6/3/2014 asking me to clarify a few thing I was at my laptop so I opened up the email and went through each one at a time. By the end of the call I was told that my claim had been upheld and that they would pay back all my fees I had paid plus interest from 2001 – 2011.
    I asked about an outstanding and she needed to confirm and readjust and come back to me by the latest on Tuesday with a settlement figure.

    • Final outcome and reason behind the decision

    I received a phone on Wednesday morning and was told that after calculating everything I was awarded the following;

    • £1200 – Paid Account Fees from Nov 2001 until July 2011
    • £4600 – Compensation for the total amount of lending charges that had been debited from my account Nov 2001 and Aug 2011
    • £29 – Deducted for overdraft savings
    • £2900 – Compensation for the lack of access I have had to above funds as well as the stress and inconvenience I suffered in the form of 8% on the above sum.

    Everything I had stated was found to correct and I had in fact registered a phone on the insurance in 2010 but had not benefited from the Travel insurance or breakdown cover.

    Their records showed that I had not been send a full welcome pack nor any notification on the changes or fee increases.

    They were not able to tell my why only that they didn’t. I had also made a saving of £29 from the overdraft rates on the account and that was deducted.

    In regards to my outstanding debt which had resulted in a default, they have cleared this and have arrange for the default to be removed.

    • Useful information


    • Make sure you have correct information this can be obtained either in the form of sending an SAR which does cost £10 but will give you all the information that hold on you, a welcome pack and bank statements
    • Carefully studies the benefits and any limitations. Then in your letter list each one, with a reason why it was of no use to you, try to give an example and if at all possible any proof you have i.e. a second insurance policy or hospital letter that shows a pre – existing medical condition.
    • Look at the rates for credit cards, loans, mortgages, overdraft for your account it also may be called a Tariff.
    • Research other cases of mis sold package accounts as it can give an indication of what to expect but remember every account and claim is personal to that person but I can be used as a rough guide.
    • Useful searches I found was Way Back When Machine Web Archive which has historical screen shots of websites from dates that can be as far back as the 90’s. Please note that some banking sites don’t work which I have been told could be down to security. From my experience NatWest work from 2007 but it was hard to get anything earlier and is the same with all except EGG and Nationwide. Google is another. Any customer review sites that have financial products. Ciao was one I used. Consumer forums are also a great source.
    • Ask for help on the forums. I will say that some sites you may get feedback like you were mis sold you mis brought or that you should’ve read your terms and conditions and other along them lines. Please ignore these negative comments and don’t answer to prove otherwise because firstly you don’t have to and secondly if they have comment with responses like that then it’s normally based on option rather than fact. Genuine negative comments will ask questions first then if it still doesn’t seem like you have a strong case they will offer constructive criticism that is to guide and give advice. I’m maybe biased but LB from what I have found are helpful and I have never had any such negative comments.

    • Conclusion


    Reclaiming package account fees are a lot more in depth than PPI and it was only recently highlighted so banks will be very strict with finding any reasons that you benefited.

    There are often many of these to take into consideration this is why you have to list each one in detail. What may also be used is that they charges were on your monthly statement so to say I did not know after a few years of charges is hard and won’t cut it. Also even though you were mis sold at the point of sale if you have claimed on a policy or you could’ve will be taken into consideration. But even though I was eligible for mobile insurance I showed that I was not eligible for the rest.

    Also after sale like changes that is also looked at. So even if you didn’t receive any information at the beginning if you did further down the line then they will question why did you not cancel? if you didn’t. But that can also work the other way so if you received the information but no notifications of changes then that would also be a reason for mis-selling

    More...
    Tags: None

  • #2
    Re: Reclaim Mis-sold NatWest Advantage Gold Package Accounts – Successful Case Study

    Please find attached the first letter sent and also the front and back settlement letter. This will give a better picture as how redress is calculated and what they based it on.
    Attached Files

    Comment


    • #3
      Re: Reclaim Mis-sold NatWest Advantage Gold Package Accounts – Successful Case Study

      Loulou, that is sensational news and I can tell from the information provided that what may have happened is that almost as soon as you reached the age of 18 they upgraded your account(potentially without your consent...I suspect that this was a possibility as I knew of cases where people going abroad were upgraded without their consent either). Clearly they cannot find any record of your tacit agreement with this. At 18 years of age I was certainly not going to the bank after a heavy night out .

      It is very interesting that not only have they removed the default but that the amount is so high. When I first wrote a form of packaged account reclaiming(as NWSM), I had come across one case on Martin Lewis' forum who had got two years fees back and this was where I thought it would go. Your case has highlighted that some banks are looking further and further back to whether you were informed about services and whether you actually used them. For me, that kinda blows my mind away on the possibility that not only can you get two years back but everything excluding the benefit, ie a lowsy £30 for you in 11 years.

      I am so happy for you that the bank offered so much. Having read news today that a UK ticket won £100+ million quid on the lottery, I am sure the amount offered is gonna help you out no end. There are times when all of us on the reclaiming boards need invigorating since the bank charges test case ended and that PPI has been won. Next on the list is package account reclaiming and so I am delighted to read your story and your success and I hope more people will reclaim.

      I am hopeful you will stick around to help out those that come after you reclaiming packaged account fees, to help and guide them through the process you went through. You are an inspiration and your hard work has truly paid off.

      Thank you for sharing your story.
      "Family means that no one gets forgotten or left behind"
      (quote from David Ogden Stiers)

      Comment


      • #4
        Re: Reclaim Mis-sold NatWest Advantage Gold Package Accounts – Successful Case Study

        Definately any help or advice I can give to anyone I will certainly help where I can. The complaints team who dealt with my case were exceptional and very honest as I had put that I only wanted my fees back everything else was totally down to there investigation. The money is a great help and would love the opportunity to give back to this forum as it has helped me no end. when I got the phone call at first I thought Id heard wrong but when she Re said it I hit the floor.

        Comment


        • #5
          Re: Reclaim Mis-sold NatWest Advantage Gold Package Accounts – Successful Case Study

          I have to also point out that leclerc's extensive help in this area has been crucial. Thank you
          Any opinions I give are my own. Any advice I give is without liability. If you are unsure, please seek qualified legal advice.

          IF WE HAVE HELPED YOU PLEASE CONSIDER UPGRADING TO VIP - click here

          Comment


          • #6
            Re: Reclaim Mis-sold NatWest Advantage Gold Package Accounts – Successful Case Study

            Very True! With Everyone's input we should see a lot more success stories. Here's Hoping. Would love to see a lot more going for it x

            Comment


            • #7
              Re: Reclaim Mis-sold NatWest Advantage Gold Package Accounts – Successful Case Study

              Originally posted by loulouxx View Post
              Very True! With Everyone's input we should see a lot more success stories. Here's Hoping. Would love to see a lot more going for it x
              So pleased to hear your success story. It certainly was worth it for what you got back. And now you have the experience to help others.

              I'm a Natwest customer myself and never had one of these accounts, thankfully. However, I don't think they review accounts enough. Other banks are much more savvy and honest.

              I think my friend definitely has a claim. More money than sense...
              Last edited by Amethyst; 21st March 2014, 11:48:AM. Reason: removed links

              Comment


              • #8
                Re: Reclaim Mis-sold NatWest Advantage Gold Package Accounts – Successful Case Study

                Hi all,

                Having come across this thread, and the great success story, well done again loulouxx. I finally decided that I would also raise a complaint, as I have had an Advantage Gold account for approx 13yrs. Similar to the above, I was told in order to get a credit card and overdraft, I had to sign up to the Gold account. Being fairly young and nieve, and maybe having too much trust in my bank, I agreed to the account.

                My complaint was logged with them on Saturday (5th April) and I got a call back on Tuesday (8th April). Which I thought was exceptionally quick. The person I spoke to advised that he could see I signed up for the account in 2001, but between 2002 & 2005 he could not see any payments for this, or infact tell me what sort of account i had at that time!! (very concerning). He then proceeded to tell me that in 2005, the advantage gold account started again, and payments can be seen. He has also been unable to advise if this was a new AG account, or my old one continued!!

                So, currently he has gone back to investigate why there is this gap, and also to see why the account was setup again in 2005. He did however call back and advised they can look at this as 2 separate complaints, as they would uphold the first part of the complaint (2001 - 2002 part).

                Anyway, any comments or suggestions about the gap and what I can do about this would be of great help. As I am unsure which direction to take this in, due to missing information, and them no knowing what has happened either.

                Thanks, and also thank you for all the information i have already found on here. :tinysmile_grin_t:

                Comment


                • #9
                  Re: Reclaim Mis-sold NatWest Advantage Gold Package Accounts – Successful Case Study

                  Originally posted by Chizzy81 View Post
                  Hi all,

                  Having come across this thread, and the great success story, well done again loulouxx. I finally decided that I would also raise a complaint, as I have had an Advantage Gold account for approx 13yrs. Similar to the above, I was told in order to get a credit card and overdraft, I had to sign up to the Gold account. Being fairly young and nieve, and maybe having too much trust in my bank, I agreed to the account.

                  My complaint was logged with them on Saturday (5th April) and I got a call back on Tuesday (8th April). Which I thought was exceptionally quick. The person I spoke to advised that he could see I signed up for the account in 2001, but between 2002 & 2005 he could not see any payments for this, or infact tell me what sort of account i had at that time!! (very concerning). He then proceeded to tell me that in 2005, the advantage gold account started again, and payments can be seen. He has also been unable to advise if this was a new AG account, or my old one continued!!

                  So, currently he has gone back to investigate why there is this gap, and also to see why the account was setup again in 2005. He did however call back and advised they can look at this as 2 separate complaints, as they would uphold the first part of the complaint (2001 - 2002 part).

                  Anyway, any comments or suggestions about the gap and what I can do about this would be of great help. As I am unsure which direction to take this in, due to missing information, and them no knowing what has happened either.

                  Thanks, and also thank you for all the information i have already found on here. :tinysmile_grin_t:
                  Sorry for the late reply and thanks. Did the guy come back to you about the Gap in your account? The only reasons I can of maybe a Name change? or was it changed from Single to a Joint account? In the beginning NW told me I had the AG account from 2000 which was wrong because I was only 16 and still in school lol but it was then shown that it changed when I turned 18. If it is the same account and they have no records whether or not fees were paid then I think they have to go on past evidence but I'm not 100% that. If it's a new account entirely then I would think they would look at how your circumstances were when the account was opened just like the first. I would prepare for both instances. Like say in 2001 you couldn't claim on a policy or there was not benefit to you in having the account but in 2005 you could've or did benefit then if it was a new account. Could you update what the reason was if you don't mind of course. Good News that the first part was upheld hopefully if it was a continuation then they would uphold the second part too. Fingers crossed

                  Comment


                  • #10
                    Re: Reclaim Mis-sold NatWest Advantage Gold Package Accounts – Successful Case Study

                    Hi, First of all, congratulations on your refund. I have an advantage gold account which was started back in 1999. I am looking to make a claim against Natwest and noticed that you sent off a SAR application. Could you please inform to what exactly a SAR is and how do i apply? Kind regards Stacey

                    Comment


                    • #11
                      Re: Reclaim Mis-sold NatWest Advantage Gold Package Accounts – Successful Case Study

                      Hi Loulouxx, i forgot to mention i spoke to Natwest customer service today and asked about a SAR. They had no idea what i was talking about, so i explained to them i needed all of the information they held about me, ie. welcome pack, statements, Loans etc... All they could offer me was 7 years of statements. Do you think they are giving me the runaround? Kind regards Stacey

                      Comment


                      • #12
                        Re: Reclaim Mis-sold NatWest Advantage Gold Package Accounts – Successful Case Study

                        Hi Stacey,

                        Welcome to LB! Do you still have the AG account? I know that they only have to keep 6 years of data but NatWest are strange because with my account they had everything from 2000. Then I had to claim PPI on my credit card and they had my original application from 2001 but no statements before 2003. They will try that but there are some great templates on here and once you've sent that off they should send you everything they have for you. I actually didn't send one off but I recommend it so you can get a clear idea of your situation, how you applied and the benefits that you had etc. The only thing I will say is that you have to be clear about is the reasons why you wouldn't have benefited from having the account. That includes special rates for all credit facilities so the more info you have the better. I still have all my information and research from my claim but it's only from 2001.

                        There are some real horror stories from everywhere from people trying to claim back package accounts but in all honesty mine could not have been easier especially with the wealth of knowledge and help I received on here.

                        Fingers Crossed Loulouxx

                        Comment


                        • #13
                          Re: Reclaim Mis-sold NatWest Advantage Gold Package Accounts – Successful Case Study

                          Originally posted by loulouxx View Post
                          Hi Stacey,

                          Welcome to LB! Do you still have the AG account? I know that they only have to keep 6 years of data but NatWest are strange because with my account they had everything from 2000. Then I had to claim PPI on my credit card and they had my original application from 2001 but no statements before 2003. They will try that but there are some great templates on here and once you've sent that off they should send you everything they have for you. I actually didn't send one off but I recommend it so you can get a clear idea of your situation, how you applied and the benefits that you had etc. The only thing I will say is that you have to be clear about is the reasons why you wouldn't have benefited from having the account. That includes special rates for all credit facilities so the more info you have the better. I still have all my information and research from my claim but it's only from 2001.

                          There are some real horror stories from everywhere from people trying to claim back package accounts but in all honesty mine could not have been easier especially with the wealth of knowledge and help I received on here.

                          Fingers Crossed Loulouxx
                          thanks loulouxx

                          Comment


                          • #14
                            Re: Reclaim Mis-sold NatWest Advantage Gold Package Accounts – Successful Case Study

                            Originally posted by loulouxx View Post
                            Hi Stacey,

                            Welcome to LB! Do you still have the AG account? I know that they only have to keep 6 years of data but NatWest are strange because with my account they had everything from 2000. Then I had to claim PPI on my credit card and they had my original application from 2001 but no statements before 2003. They will try that but there are some great templates on here and once you've sent that off they should send you everything they have for you. I actually didn't send one off but I recommend it so you can get a clear idea of your situation, how you applied and the benefits that you had etc. The only thing I will say is that you have to be clear about is the reasons why you wouldn't have benefited from having the account. That includes special rates for all credit facilities so the more info you have the better. I still have all my information and research from my claim but it's only from 2001.

                            There are some real horror stories from everywhere from people trying to claim back package accounts but in all honesty mine could not have been easier especially with the wealth of knowledge and help I received on here.

                            Fingers Crossed Loulouxx
                            Hi loulouxx, sorry to be a pest. Have been looking , and cannot seem to find any letter templates, any ideas on how to find them and what one I would need to use?
                            best wishes stacey

                            Comment


                            • #15
                              Re: Reclaim Mis-sold NatWest Advantage Gold Package Accounts – Successful Case Study

                              Hi Loulou,

                              just read your success story. You are magnificent!!!!!!!! Very well done. Money aside, don' t you just get a real kick out of winning????

                              re your earlier post, since you joined the forum, you definitely have contributed....... greatly. You certainly have helped me.

                              Best Regards,

                              :beagle:Xxxxxx

                              Comment

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