Natwest to preadvise of charges from June 09

[Amethyst]

rather than as they currently do - remove them from your account on the day of breach.

Errr isn't that something they should have been doing all along anyway?


Banking Code

5.5 Before we take interest or charges for standard
account services from your current or savings
account, we will give you at least 14 days’ notice of
how much we will take.



Although Natwest, and the others who take funds immediately, say that the overdraft fees for transactions are not standard account services.

so good news IMO. I hope the notice is 14 days in line with the banking code. June 2009 seems a long way off though. No mention of a reduction though.


(edit: now aware they will be giving 21 days notice)

[Curlyben]

Re: Natwest to preadvise of charges from June 09

LTSB have been giving notice of charges for years and seem to be in the minority.

[Amethyst]

Re: Natwest to preadvise of charges from June 09

Abbey give notice too. Charges are taken in the next statement period.

[WendyB]

Re: Natwest to preadvise of charges from June 09

Natwest give notice of unathorised o/d fees already, then take them from account at end of next charging period.

[Amethyst]

Re: Natwest to preadvise of charges from June 09

Okay Natwest are going to be giving 21 days notice of charges - which is better than I expected. and the 'maintenance charge' will be aligned to the statement date. No change to amounts. (all from June 2009)

http://www.natwest.com/content/globa...s_Interest.pdf is their current terms.

Unpaid Item Fee
An Unpaid Item Fee will be payable of £38 if :

• you informally request an make the (subject to
overdraft by issuing payment. a maximum
instructions for a withdrawal of £114
or other payment; and per day)
• the payment cannot be met
from the funds in your account
or any unused arranged
overdraft facility; and
• we decide in our discretion
not to make the payment.


PAYABLE: At the time we decide not to pay each item

[Ladidi]

Re: Natwest to preadvise of charges from June 09

Barclays are big culprit in taking money without your knowledge. They hit you with whatever they deem as charges/commisions and help themselves. They dont bother to ask a) can you afford for us to take it at this time b) we will be taking it on this day. Heck NO they take as soon as credits are in your account so everytime you assume you have x amount in your account as credited it turns out to be somewhat less as they have helped themselves yet again..

I wish they would hurry up and sort out this bank charges case and sort out the apporpiate methods of what is right. What sticks in my throat is all the banks have said they will NOT pay anything out until the outcome and yet they are MORE THAN HAPPY to KEEP ON TAKING YOUR MONEY for CHARGES they are in the courts ARGUING ABOUT..I say if they are not prepared to payout they should NOT be ALLOWED TO COLLECT until FINALIZATION..but then thats just my opinion..

[Amethyst]

Re: Natwest to preadvise of charges from June 09

Have you moved away from Barclays yet Ladidi?

[Ladidi]

Re: Natwest to preadvise of charges from June 09

I cant hun, not yet anyway. I am now the only breadwinner in the house and things are as i would put it "tighter than a woman wearing a girdle from 17th century and strings pulled tight, only with each new day they get tighter" Barclays drive me nuts, but at least when I am due money in acount for a Monday it is available on a saturday. Thats the only bonus and plus point I have with them..

I could do with lottery win and many of us could do with knowing where we all stand so the banks can stop taking the p*ss out of us..






:merrychristmas:

[Paule]

Re: Natwest to preadvise of charges from June 09

Nationwide takes the charges 30days later

[Ladidi]

Re: Natwest to preadvise of charges from June 09

To be honest....

I wish they DIDN`T TAKE CHARGES AT ALL FULL STOP!!






:hohoho:

[natweststaffmember]

Re: Natwest to preadvise of charges from June 09

I have no idea how you get your information Amethyst but I hadn't heard this one yet, so I dare not comment because if I do, I will be commenting without being in full knowledge of the facts. If it is true, it does sounds slightly confusing, aligning charging periods to statement dates means there is no uniform date when charges go out. That means trying to explain it to customers could be confusing. If we give notice for unpaids then I wonder how the item is returned, ie do we say on the statement UNPAID ITEM(see charges to be paid sheet). Sometimes, if it ain't broke, why fix it? When I find out whether or when this is working or how this works I will post again.

[natweststaffmember]

Re: Natwest to preadvise of charges from June 09

I can confirm what Amethyst has posted is correct.
There will be a statement insert in January with the changes in them.
From 4th April 2009, debit interest, Maintenance Charges and Advantage gold subscription charges will be aligned with the statement date with charges going out 21 days after that date. The statement date is the date the statement is sent out and not received.
This is NOT happening for savings accounts which will remain as they currently are.
From 1st June 2009, any Unpaid Item Fees, Paid Referral Fees and Guaranteed Card Payment Fees will align to the statement date and be debited 21 days after that date.
This is NOT happening with savings accounts(even though the terms and conditions state on savings account that you are not permitted to have Direct Debits and Standing Orders on a savings account)..

[Amethyst]

Re: Natwest to preadvise of charges from June 09

Natwests new terms from 30 January 2009

[Amethyst]

Re: Natwest to preadvise of charges from June 09

Bloody hell ! If they decide to pay an item for you then they charge you £30 - and a maximum of £90 in a month.

If they decide NOT to pay an item they charge you £38 and a maximum of £114 a DAY.

I assume in practise this will mean they only let 3 go through and bounce the rest - so if you have a very bad month and put 6 transactions through, 3 get paid, 3 don't, will cost you £204 oh plus the £28 ''maintenance'' charge for going over your overdraft so £232 in all, Not a bad little profit there . and whooppeee they give you 21 days notice from June lol.

[natweststaffmember]

Re: Natwest to preadvise of charges from June 09

Bloody hell ! If they decide to pay an item for you then they charge you £30 - and a maximum of £90 in a month.

If they decide NOT to pay an item they charge you £38 and a maximum of £114 a DAY.

I assume in practise this will mean they only let 3 go through and bounce the rest - so if you have a very bad month and put 6 transactions through, 3 get paid, 3 don't, will cost you £204 oh plus the £28 ''maintenance'' charge for going over your overdraft so £232 in all, Not a bad little profit there . and whooppeee they give you 21 days notice from June lol.

That is the current terms already amethyst. They will bounce 5 items for example but only charge £114 if it is on the same day. The post above says that the terms are effective from the end of January when clearly the text itself states otherwise. Sorry, but the post is incorrect. The referral charges and unpaid items would not go along together, they would either/or not either/and.