NatWest Gold Account missold

[Peter42]

Hi

I'm hoping someone will be able to help I was sold gold advantage account in 2009 and advised that to have my overdraft from previous bank matched I needed to have gold account. Advised bank employee that I didn't have driving licence or car therefore breakdown cover was irrelevant and not wanted. Plus as household we had AA cover. I've received the following letter back

Our records show that you were also sent an Advantage Gold welcome pack on 12 June 2009, along with refresher packs on 31 July 2009 and 31 March 2010 respectively. Each of these packs detailed that Breakdown Cover was a benefit of the Advantage Gold account. Therefore, if you were unhappy with this you could have downgraded to a free account and made a complaint to the bank within three years of this information being sent to you in 2009. However, I have been unable to find any record of you doing so.

Taking all of the above into account I cannot agree to uphold your complaint. I believe that we have provided you with sufficient information about the Advantage Gold account to alert you to the fact that one of the benefits of the Advantage Gold account was Breakdown Cover. Therefore, I cannot agree to refund any of the monthly Advantage Gold account fees as you have requested or to compensate you.

Does anyone have suggestions of what I should do next?

Thanks for any help

[Never-In-Doubt]

Re: NatWest Gold Account missold

Take it to the regulator, visit -> http://www.financial-ombudsman.org.u...complaints.htm

Argue the fact you weren't aware you could downgrade / cancel benefits and you only RECENTLY* became aware after reading public stories of a similar nature in the press, such as This is Money.

* Say you became aware around a month before you raised the complaint with the bank as there are time limits and you're arguing time from when YOU became aware - not when the banks sent random letters - remember as far as you're concerned you didn't think you could downgrade and keep the OD etc as that's what you were told by a "trustee of the bank"

If you get stuck give us a shout.