Managed rate overdraft Facility

[jon2516]

My RBS bank account was frozen some time ago and the overdraft on the account was placed on a Managed Rate Overdraft Facility - monthly limit reduction. My card expired in March 2009 and all privledges were withdrawn at which time I opened another current account with The Halifax.
I agreed a payment plan but RBS have continued to add charges and the account is now £2850 in debit.
I also wrote to RBS early in May 2009 to register my complaint about charges which they acknowledged.
Any help would be much appreciated.

[natweststaffmember]

Re: Managed rate overdraft Facility

Can I ask what is the question?

[jon2516]

Re: Managed rate overdraft Facility

When the payment plan was arranged the overdraft facility was at £2000. Over 2 years they have added over £800. How do I stop this and get the charges refunded?

[natweststaffmember]

Re: Managed rate overdraft Facility

When the payment plan was arranged the overdraft facility was at £2000. Over 2 years they have added over £800. How do I stop this and get the charges refunded?

Have you already reclaimed the charges from the account?

[jon2516]

Re: Managed rate overdraft Facility

No registered complaint in May 2009 but like everyone else waiting for supreme court ruling.

[TUTTSI]

Re: Managed rate overdraft Facility

Hi Jon

Please have a read here:-http://www.legalbeagles.info/forums/...ad.php?t=15761

If your situation falls in these criteras then a claim could be made under the FSA waiver rules for hardship.

Tuttsi

[jon2516]

Re: Managed rate overdraft Facility

Thanks Tuttsi.

[jon2516]

Re: Managed rate overdraft Facility

Tuttsi

Just been going back over this how do I get RBS to stop adding the charges?

[Amethyst]

Re: Managed rate overdraft Facility

Blimey, they move you to managed rate to help things get sorted out then pound you with charges incessantly, how ridiculous.

You can try asking them to stop the charges when we do the hardship letter.

Hardship is basicallly asking the bank to treat you properly and sympathetically as they should have been doing since you entered hardship situation - if a refund of charges is part of that then thats great - but the main issue is the bank treating you unfairly and thats what we complain about.

Do you have an income expenditure sheet ?

[natweststaffmember]

Re: Managed rate overdraft Facility

Was the plan agreed through RBS Collections or through credit management services?

[jon2516]

Re: Managed rate overdraft Facility

It was arranged through RBS Birmingham Collections centre. I visited my local branch where the account is held branch and had a meeting with an advisor (theres a joke) and they basically told me it was an issue for me to resolve.
They never issued me with another card just suspended the account so I opened a new account with Halifax. I have just recieved another "ADVICE OF SERVICE CHARGE FOR THE PERIOD SEPTEMBER TO OCTOBER"
Maintenence charge of £28.
Overdraft interest for the same period £40.19.
These people are beyond reproach.
Amethyst
I did not do an expenditure sheet because I discussed this in detail with the advisor which was obviously a waste of time and before I got help from this site I have buried my head.
So would you suggest sending in a hardship letter with expenditure sheet?
Also this matter has been dealt with by my local branch, do I need to use head office?
Many thanks

[Amethyst]

Re: Managed rate overdraft Facility

Yes, we need to do a full income and expenditure sheet Legal Beagles and then write a good strong hardship letter complaining about the managed rate overdraft thingy and asking for a refund of charges and to stop future charges and accept repayment proposals.

If you can do the IE sheet and either post it up here or email it to admin@legalbeagles.info then we will have a much better idea of your situation to help get a good letter putting forward your case sorted.

[jon2516]

Re: Managed rate overdraft Facility

Thank you so much Amethyst I will do that when I get home from work.

Many thanks again

[natweststaffmember]

Re: Managed rate overdraft Facility

It was arranged through RBS Birmingham Collections centre. I visited my local branch where the account is held branch and had a meeting with an advisor (theres a joke) and they basically told me it was an issue for me to resolve.
They never issued me with another card just suspended the account so I opened a new account with Halifax. I have just recieved another "ADVICE OF SERVICE CHARGE FOR THE PERIOD SEPTEMBER TO OCTOBER"
Maintenence charge of £28.
Overdraft interest for the same period £40.19.
These people are beyond reproach.
Amethyst
I did not do an expenditure sheet because I discussed this in detail with the advisor which was obviously a waste of time and before I got help from this site I have buried my head.
So would you suggest sending in a hardship letter with expenditure sheet?
Also this matter has been dealt with by my local branch, do I need to use head office?
Many thanks

Normally a bank charge would invalidate the agreement with RBS Collections. I have known bank cards to be suspended until such time as a plan is in place and then the stop removed or until the account goes back within the overdraft. Once the account is with collections the branches cannot make any decisions on the account whatsoever until it is returned to their portfolio(for want of a better word).

[jon2516]

Re: Managed rate overdraft Facility

Sorry natWeststaffmember but I do not understand how that helps me?

Amethyst I cannot down load the relevant I/E form for whatever reason so can I send you the information by private message?