Reclaiming Packaged Bank Account Charges

[Linda0704]

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

[nightwatch]

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.

[Linda0704]

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

[nightwatch]

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.

[Linda0704]

Thank you ?

[Joanna Connolly Solicitors]

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

[nightwatch]

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.

[Linda0704]

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 ?

[nightwatch]

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

[Joanna Connolly Solicitors]

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

[Linda0704]

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 ??

[Joanna Connolly Solicitors]

had a response from RBS to say they’re investigating- that was quick! ? Will let you know how I get on ??

How did you get on?

My complaint is still with the FOS a year later (I don't give up easily ) but maybe you settled yours direct with RBS.

Di

[Linda0704]

How did you get on?

My complaint is still with the FOS a year later (I don't give up easily ) but maybe you settled yours direct with RBS.

Di

Hi, I am afraid the RBS turned my claim down! Surprise! They did not accept it at all. I have changed to a Reward Account and then after about two months they have reduced my Overdraft Amount by half! My point had been that they gave me a great overdraft because I was a Platinum Account. They denied it but then went and reduced it because I am no longer paying! I have not referred to the Ombudsman yet. Not sure about it. What do you think Di?

[Joanna Connolly Solicitors]

RBS turned my claim down! Surprise! They did not accept it at all. I have changed to a Reward Account and then after about two months they have reduced my Overdraft Amount by half! My point had been that they gave me a great overdraft because I was a Platinum Account. They denied it but then went and reduced it because I am no longer paying! I have not referred to the Ombudsman yet. Not sure about it. What do you think Di?

No surprises there then!

Are you saying RBS reduced your overdraft limit because you are no longer paying for the package? If that's true then would that be an admission that you were paying for a higher overdraft not for the package benefits?

Maybe time to refer it to the FOS if you're not too late (it must be within six months of the bank's Final Response).

Di

[Linda0704]

No surprises there then!

Are you saying RBS reduced your overdraft limit because you are no longer for the package? If that's true then would that be an admission that you were paying for a higher overdraft not for the package benefits?

Maybe time to refer it to the FOS if you're not too late (it must be within six months of the bank's Final Response).

Di

Yes that's what I thought! I will get on it! I still have time. Thank you