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  • Reclaiming Packaged Bank Account Charges

    Hi I am a new user and could do with some advice on reclaiming the charges on the Packaged Bank Accounts. I bank with RBS and since 1998 have had a packaged bank account. I was having serious debt issues in those days and was advised (told) that if I took out a Royalties Gold Account I would be able to have a substantial overdraft to help me through the problems I was having. Since then, I have continued to hold this account, converting to a Platinum Account in 2015. I have never ever used the facilities these accounts provide. I still have a large overdraft facility but have not needed it for some time as I have worked very hard to secure my financial status and have not needed to use it. I am considering claiming back the charges as I was told I needed the account at the time to enhance the overdraft facility. My questions are:
    1: How far can I go back to reclaim these charges? Can I go back to 1998 or is there a time limit?
    2: Could the Bank reduce the Overdraft facility drastically - I am not too worried about that, but you never know when you need it nowadays
    3: When my daughter requested charges back, the HALIFAX, paid her enough to clear the overdraft then closed her account! Could RBS do something similar?

    I would be grateful for some advice please. Linda

  • #2
    Hi, same thing happened to us, call in for a review, sign here and we had a new fee charging account with a lot of bells and whistles that we never used, appart for the overdraft,
    I did a claim back using the MSE site. free no fee

    have a look and give it a go, we got quite a bit back.

    I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

    If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

    Comment


    • #3
      Thank you for replying. Do you know if there is a time limit - could I go back to 1998 + interest?

      Comment


      • #4
        If you look on the site it will tell you, I think ours was the same dates, but they took of some interest as had a better rate for overdraft, they also took tax out, but as I don't work I claimed it back.

        good luck.
        I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

        If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

        Comment


        • #5
          Thank you ?

          Comment


          • #6
            Originally posted by Linda0704 View Post
            was advised (told) that if I took out a Royalties Gold Account I would be able to have a substantial overdraft to help me through the problems I was having. Since then, I have continued to hold this account, converting to a Platinum Account in 2015. I have never ever used the facilities these accounts provide. I still have a large overdraft facility but have not needed it for some time as I have worked very hard to secure my financial status and have not needed to use it.

            .. . Could the Bank reduce the Overdraft facility drastically - I am not too worried about that, but you never know when you need it nowadays

            I was in a similar position as you in 2002 - I was also told that if I wanted a high overdraft limit I would need a specific bank account which incidentally came with benefits. If I didn't accept the 'package' with a monthly fee (which kept increasing) I couldn't have the overdraft facility.

            In November 2015 the BBC reported RBS/Natwest admitted that the increase in the monthly fee was "to cover the cost of running the Black account" not only the benefits package > https://www.thisismoney.co.uk/money/...-accounts.html

            At the time the 'benefits' included life insurance which was useful to me as a single parent (having divorced a pension) but that insurance was later scrapped.

            I am mature ( ) so the travel insurance is useless; in fact I don't travel overseas due to a medical issue so access to worldwide travel lounges and cheaper foreign currency are no good to me. I don't own a car while living in London so the Green Flag breakdown cover was no good to me either. I have emergency breakdown cover (boiler, electrical etc) as part of my home insurance so that's not needed. And so on.

            I made a complaint which was rejected so I've referred it to the FOS.

            Out of the blue earlier this year I was called by the bank and told all my accounts (3 x current, business, 2 x savings and credit card) were being closed with eight weeks notice and no reason given. I made a 'fast-track' complaint to the FOS and within hours of them making contact the decision was reversed.

            The bank admitted that the reason for the intended closures was because I had made too many complaints notwithstanding the fact that most were upheld.

            It would not be right for me to reveal the name of the bank so I'll leave that to your imagination.

            I have subsequently cancelled the 'benefits package' and the account has been downgraded but the overdraft limit remains the same, and like you I hadn't needed or used it for some years but rely on the security that it's there for whenever I do.

            Good Luck with you claim and keep us posted on your progress.

            Di
            Legal Disclaimer

            I am a Litigation Executive at Joanna Connolly Solicitors a firm which specialises in consumer credit. If you need to contact me you can send a message by clicking on my username or by emailing me at di@joannaconnollysolicitors.co.uk or by telephoning 0330 053 9340. My Direct Line is 0151 254 6986 Our initial advice is always free.

            Any posts I make on the AAD Consumer Forum are for information and discussion purposes only and shouldn't be seen as legal advice. Any advice I provide on the forum is without liability. If you are unsure please seek formal legal guidance or contact your local citizens advice bureau at https://www.citizensadvice.org.uk

            Comment


            • #7
              Di that has just jogged my memory,
              when we got into problems , we were using the overdraft to live on, we managed to get it down a little, then changed bank's,
              I phoned RBS to see if I could have a Fee free account to clear the overdraft but not pay fees.
              Guess what, of course we could,
              2 months later I got a letter saying they would like to contact me to discuss my overdraft, they never mention hubby, even though it was his account originaly, so I just wrote back saying that ,
              It was strange that for the last 15 years they had been happy with the level of overdraft, we had never missed a month of not paying enough to cover the intrest and extra to reduce it,so why was there a need to disscuss it now that I was not paying a fee, I would like a written explanation of what they needed to discuss and why.

              Never did write back.

              the account haddn't been used for about 2 years, but they paid the money into it, when I checked the overdraft is still active if I need it.
              I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

              If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

              Comment


              • #8
                Thank you both - I’ve submitted a claim today going back to 1998 ? Not sure how it will go but will see. I’ve been with them for years so I hope they don’t turn nasty ?

                Comment


                • #9
                  If they do, take the money and walk away.
                  Today they need you more then you need them.

                  NW

                  PS, it's much easier to change bank's now then it used to be. xx good luck with the claim
                  I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                  If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

                  Comment


                  • #10
                    Originally posted by Diana Mayhew View Post


                    I was in a similar position as you in 2002 - I was also told that if I wanted a high overdraft limit I would need a specific bank account which incidentally came with benefits. If I didn't accept the 'package' with a monthly fee (which kept increasing) I couldn't have the overdraft facility.

                    In November 2015 the BBC reported RBS/Natwest admitted that the increase in the monthly fee was "to cover the cost of running the Black account" not only the benefits package > https://www.thisismoney.co.uk/money/...-accounts.html

                    At the time the 'benefits' included life insurance which was useful to me as a single parent (having divorced a pension) but that insurance was later scrapped.

                    I am mature ( ) so the travel insurance is useless; in fact I don't travel overseas due to a medical issue so access to worldwide travel lounges and cheaper foreign currency are no good to me. I don't own a car while living in London so the Green Flag breakdown cover was no good to me either. I have emergency breakdown cover (boiler, electrical etc) as part of my home insurance so that's not needed. And so on.

                    I made a complaint which was rejected so I've referred it to the FOS.

                    Out of the blue earlier this year I was called by the bank and told all my accounts (3 x current, business, 2 x savings and credit card) were being closed with eight weeks notice and no reason given. I made a 'fast-track' complaint to the FOS and within hours of them making contact the decision was reversed.

                    The bank admitted that the reason for the intended closures was because I had made too many complaints notwithstanding the fact that most were upheld.

                    It would not be right for me to reveal the name of the bank so I'll leave that to your imagination.

                    I have subsequently cancelled the 'benefits package' and the account has been downgraded but the overdraft limit remains the same, and like you I hadn't needed or used it for some years but rely on the security that it's there for whenever I do.

                    Good Luck with you claim and keep us posted on your progress.

                    Di


                    I should add that the FOS has a team dedicated to Packaged Account reclaims which is very much a tick-box exercise with limited input from the person making the complaint; so if yours gets that far be prepared to be persistent and escalate it to an Ombudsman if the Adjudicator doesn't agree with your stance.

                    That's the stage I've reached and I intend to keep going until I win

                    Di
                    Legal Disclaimer

                    I am a Litigation Executive at Joanna Connolly Solicitors a firm which specialises in consumer credit. If you need to contact me you can send a message by clicking on my username or by emailing me at di@joannaconnollysolicitors.co.uk or by telephoning 0330 053 9340. My Direct Line is 0151 254 6986 Our initial advice is always free.

                    Any posts I make on the AAD Consumer Forum are for information and discussion purposes only and shouldn't be seen as legal advice. Any advice I provide on the forum is without liability. If you are unsure please seek formal legal guidance or contact your local citizens advice bureau at https://www.citizensadvice.org.uk

                    Comment


                    • #11
                      I used Resolve on the Martin Lewis site - already had a response from RBS to say they’re investigating- that was quick! ? Will let you know how I get on ??

                      Comment

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