natwest packaged bank account refund forum

If you're not eligible for the bank account you are applying for, you might be offered the Foundation account instead. Switch to NatWest and get our 200 offer. B&M to start closing stores within days - full list of shops shutting, Cadbury axes popular Easter egg and shoppers will be gutted, Major fashion brand to close another store forever this weekend, Inside UK's BIGGEST charity shop where you can buy designer goods for 2.99, News Group Newspapers Limited in England No. Telephone: 0800 138 7777 | Relay UK: 18001 0800 138 7777. All of these areas can be challenged. You can just sit back and relax. Packaged bank accounts started in the 1990s, as Lloyds Bank started an account called the "Classic" account. Includes emergency medical expenses, cancellations, baggage and more. If our insurers U K Insurance Limited (UKI) are unable to offer you an upgrade to extend the level of cover you need, or your upgrade insurance premium is higher than you expected because you have medical conditions, help could still be available. RBS Group, which includes all three banks, broke a legal order requiring banks to send customers text alerts before they charge them for . They are not financial advice and you should not treat them as such. These are only available to existing NatWest current account customers. You are usually asked to pay an additional fee, for example a set amount each month, for this type of account. Do you have other chargebacks or refunds that take away your time and stress you out because they are so complicated? DoNotPay believes that you work hard for your money, and you should be refunded for accounts that have been mis-sold or oversold. Cover for you, your partner, and dependent children under 18 (or under 23 if in full time education) at the start of the journey. You were told it was a privilege to get the account but it wasn't explained properly to you; the salesman wouldn't say no for an answer or you weren't told the full cost. Black can't be applied for. The same applies if the insurance was invalid, for example if you were too old to make a claim on the policy, or if the price was hiked and you weren't told about it. Mis-selling of a package bank account can happen in a number of ways. It can take some months for the Ombudsman to reach a decision, so you need to be patient. Registered Office: 22-28 Willow Street, Accrington, Lancashire, BB5 1LP. On the other hand, thousands of disgruntled consumers have discovered that they are paying for insurances packaged in their bank account that they simply will not use or cannot access when a claim arises. NatWest Bank ; Natwest charges Refunded, now after packaged account fees - didnt know about them Announcements. Let us know in your application if you want to switch and when to get the ball rolling. (variable) interest on your balance. For further details of our complaints policy and to make a complaint please click this link: thesun.co.uk/editorial-complaints/, Martin Lewis has explained how to reclaim thousands of pounds from your bank, Martin Lewis reveals how you can make the most of the Green Homes Grant scheme, due to bank charges for going over your overdraft limit, urged Brits to apply for 5,000 Green Homes Grant vouchers, how to get free groceries at Asda, Sainsbury's and Co-op, warned 1.8million workers risk 2.6% interest charges, Independent Press Standards Organisation (IPSO). Those are only the complaints that made it to the Ombudsman, there are likely . A successful claim pay-out of this type is often in the hundreds and can be several thousands if you paid a high monthly fee over many years. If you have been a victim of this, Claims Compass can help you get the compensation you deserve. To begin this process, you will need to complete the FOS Complaints Form and attach copies of all the correspondence relating to your claim, including those between you and your bank. The straight answer - maybe. Copyright National Westminster Bank plc document.write(new Date().getFullYear()); . A review by the FCA found that some operating practices and bank sales tactics fell under this category and meant that thousands of PBA accounts were systematically sold to customers for whom they were wholly unsuitable. 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Once you have all of this information, you'll need to write to the bank to ask for your money back. because you were too old to be eligible or had excluded medical conditions etc), Telling a customer that they had to have a PBA as the only condition to be eligible for a loan, credit card, overdraft or mortgage with that bank, Being given false information or exaggerating the overall benefits, such as saying a PBA would hugely increase your financial credit score, Suggesting you would only be able to access amazing deals if you had a PBA and then later finding out those deals were available to all customers and, in some cases, at a cheaper price, Your bank failing to carry out an annual eligibility review or send you an annual eligibility statement for your packaged bank account, to clarify your current circumstances and establish whether the account is still right for you. One reader, who was unwittingly charged 25 a month, recovered all his fees after complaining. If you change your mind on your reward or packaged account, contact our telephony banking or visit us in branch. Natwest has previously been fined a staggering 2.8 million by the Financial Conduct Authority (FCA) for mishandling PPI claims. Check above for the list of details needed. What is a bank Account with a Monthly fee? The banks may initially reject claims made against accounts older than 6 years, but dont let that put you off. If you are complaining about a mis-sold Select Silver, Select Platinum, Black or Advantage Gold account it can help knowing some of the facts surrounding the sale and any recollection the have concerning the promotion of the account and the relevance of the various benefits. App eligibility criteria apply. Most banks have an internal complaints procedure and so you should explain exactly what happened when you opened the account and under what basis the mis-selling occurred. Learn more about Cora. If you can prove you were mis-sold the account and have a strong case, customers have claimed for fee refunds going back a lot longer than that. Apply online or via our mobile app to switch a current account held elsewhere into a NatWest account from 14th February 2023 to receive our offer of 200. Select Platinum can't be applied for. That way, you wont be affected by the time bar. We can help you claim back any refund you my be entitled to from NatWest. You can find more detail about other issues with bank . In 2019, the worst packaged bank accounts for offering poor savings and limited insurance cover were revealed by consumer champion Which?. You or any insured person, close relative or travelling companion being diagnosed with Covid-19 or another pandemic disease. Make a claim. Offer T&Cs apply. No, you are not legally required to have travel insurance however it is a good idea. Ombudsman rejected my claim against packaged bank account fees. If youre a Natwest customer paying for your current account get in touch today and find out if you could be awarded compensation. Many banks and building societies offer cashback on monthly bills and loyalty rewards as an incentive to open or retain an account. The problem with many of the banks selling these products is that they set overzealous sales targets, advising their sales staff to rush through the details and offer products and charges without the customer having a full understanding of what they are buying. NatWest Packaged Bank Account Refunds: Next Steps, I am happy for a claims expert to contact me to find out if my claim qualifies, Pera Business Park, Melton Mowbray, LE13 0PB, 2021 -SoftwareBox Solutions Ltd TA Claims Compass - Company Reg No: 12205095, packaged bank account may have been mis-sold, Not being told what the monthly or annual fee was to open and retain the packaged bank account, Not having been made aware of all the key benefits and exclusions of the PBA when you first opened the account, Being moved or upgraded from an existing free current account to a fee based packaged bank account without knowing or gaining your permission, Being pressured into starting a PBA without the salesperson advising you there was a free current account option available instead, The bank neglecting to carry out an initial eligibility check on the account holders, to establish the relevance and access to the additional benefits and services on offer, Failing to reasonably check and advise you of the benefits you could not claim, or worse still knowing you would not be able to claim (i.e. Our packaged bank accounts offer a range of cover. If you think you've been mis-sold a packaged bank account, you'll need to get in touch with your bank to make a claim. Another way to reclaim cash from your bank is if your bank's charges caused you financial hardship. Banks set overzealous sales targets, encouraging their sales people to skim over the details and foist products and charges onto customers often without their full understanding, sometimes even without their knowledge. Even if you are basically happy with the fees you are paying for your packaged bank account, it is prudent to check if the annual costs of the PBA represent good value compared to buying those insurances or services elsewhere. These rip-off charges were banned in April 2020, but you can make a historic claim. You can't apply directly for this account. For other inquiries, Contact Us. "The Sun", "Sun", "Sun Online" are registered trademarks or trade names of News Group Newspapers Limited. You are making an allegation of wrongdoing by Natwest. 4. Packaged bank accounts are current accounts that come with a "package" of extra features - from mobile phone and travel insurance, to preferential rates on overdrafts and loans. How much emergency savings should I have? 4) Can I Claim Back My Bank Account Monthly Fee? Complaining about a Mis-sold Select Silver, Select Platinum, Black or Advantage Gold account? NatWest should have records of the sale but if they do not your recollection can be invaluable. The various benefits include travel insurance, vehicle cover through to reduced rates in borrowing. To download a Claim Pack now: Click Download Claim Form. If you have travel insurance, depending on your policy, it could cover the costs of unforeseen incidents such as health emergencies, cancelled flights or missing luggage. Only available online. Current account with a contactless debit card for 11-17 year olds. I am an Independent Financial Adviser (IFA). SilverTravel Insurance Terms (PDF 202KB), Can have pre-existing medical conditions added, Cancelling your trip (before you are due to start your trip), Delayed or missed departure (on the day you are travelling), Cutting your trip short (after your trip has started), Emergency medical costs (such as illness, injury, or quarantine), Personal accident (such as an accidental injury), Personal liability (if you become legally liable for an accident), Baggage (lost, stolen or accidentally damaged), Delayed baggage (essential replacement of toiletries, medication, or clothing), Lost Passport or Driving Licence (reasonable travel, accommodation, and administration costs). Specific account and Premier eligibility criteria apply. You're automatically covered by your travel insurance if you have a Silver, Platinum, or Black bank account. See the full list of your account benefits: To apply for a Reward Silver you must be an existing NatWest current account customer. To arrange a free, no-obligation call with an experienced advisor, please complete the contact form. You are not required to use our services with respect to a tax refund claim and it is possible for you to present your claim for free to HMRC. Some pay as much as 20 per month. If you would like to extend your cover to include pre-existing medical conditions or are aged 70 and over, please call us. Like a lot of other exclusive-sounding accounts, this account was a Packaged Bank Account.People like to feel they've been 'Selected' and that they are worthy of having something described as 'Platinum'. Mumsnet carries some affiliate marketing links, so if you buy something through our posts, we may get a small share of the sale (more details here). Here are three simple steps to get a NatWest chargebackwith DoNotPay: That's all there is to it! With another bank? If the allegation is believed to be true, then you get a refund. Mis-selling occurs when a bank fails to do this. . Our Platinum and Black accounts cover you and your partner, plus any dependent children. Here we explain, step by step, how to reclaim packaged account fees - and we have a free online tool to help you (or free template letters to do it yourself). Here we can go through the features of the account with you to ensure you can make an informed decision about whether the account is right for you. An offer of 50 in cash and a 4-year free Tastecard. Do note, while we always aim to give you accurate product info at the point of publication, unfortunately price and terms of products and deals can always be changed by the provider afterwards, so double check first. We may ask you to pay an additional premium or we may not cover your condition. Specific account eligibility criteria apply. / Ask Cora To request a Claim Pack by post: Fill in your details in the Start Your Claim form to the right of this text. I paid 28 a month for years for two bank accounts I didn't need but NatWest won't give me a refund. For new or existing customers, you can call us on: Silver:0345 601 5219(Relay UK 18001 0345 601 5219) Overseas:+44 1252 308 792 Platinum:0345 609 0453(Relay UK 18001 0345 609 0453) Overseas:+44 1252 763 658 Black:0345 601 7188(Relay UK 18001 0345 601 7188) Overseas:+44 1252 308 794. 111.6K Posts I recently applied for the monthly charges to be refunded. We cover unlimited holidays for a maximum of 22 days (Silver), 31 days (Platinum) or 90 days (Black). Examples of some scenarios that may fall under the classification of financial mis-selling include : If any of the above sounds familiar to you, you may be eligible to claim compensation for a mis-sold packaged bank account and receive a refund of all the fees you paid, plus interest. This does not automatically mean that a refund will be paid in this timescale, but it does mean they need to be in dialogue with a customer regarding their complaint within this period. Depending on your level of cover it could protect you, your trip, and your property such as medical care, cancelled flights or lost luggage. For example, you may already have replacement cover for your mobile phone being paid for (or included) in your phone contract. By Emma Gunn for Thisismoney.co.uk. So, if you are paying 15 per month for your PBA, that is 180 per year. Natwests PBAs attract fees of up to 25 per month in return for the typical insurance products bundled with current accounts travel, mobile phone and vehicle breakdown. Includes 10 million medical expenses cover, cancellations, baggage and more. Specific account eligibility criteria apply. Deposit 1,250 into your account and log into our mobile banking app within 60 days. However, we understand you might still like to register your travel plans and for that reason we have kept the option for you to do so on the mobile app. They may find a PBA convenient, to have such insurances all in one place, and feel that the monthly fee they pay represents good value for money. It is a sad fact of life that there are unscrupulous and unethical salespeople working in all industries, and unfortunately the banking sector is no exception. The monthly subscription fee for our Packaged Accounts comes directly from your account 21 days after your first statement date. No, unless you want a six month merry-go-round of lies and incompetence. To see all content on The Sun, please use the Site Map. Often taking hundreds of pounds every year for products you wont use, cant use, or arent even aware youre paying for. Free accounts are still in operation but they are promoted as derisory and of poor quality if offered at all which is of course an option anyone should they not wish to pay a monthly fee to operate an account. You're unable to access your pre-booked accommodation due to Covid-19 or another pandemic. Apple Pay (if you're 13+) and Google Pay (if you're 13+). You don't need to register, you're automatically covered. If so, there is a reasonable chance that it has been mis-sold. There are several ways in which a packaged bank account may have been mis-sold. However, if asked for it by your travel operator please use the generic policy numbers below: Platinum account policy number: AP20840119. A packaged bank account is a current account that includes additional benefits, such as mobile phone insurance, travel insurance, breakdown cover etc. Clitheroe You are not required to use our services to pursue your claim and it is possible for you to present your claim for free, either to the company against whom you wish to complain or to the Financial Ombudsman Service or Financial Services Compensation Scheme. Enjoy your refund! Silver Travel Insurance Terms (PDF, 202 KB), Platinum Travel Insurance Terms (PDF, 721 KB), Black Travel Insurance Terms (PDF, 800 KB). The Financial Ombudsman has declared Natwest the worst offender when it comes to mis-selling Packaged Bank Accounts. Some 36,000 RBS, NatWest and Ulster Bank customers will be refunded a total of 2.2 million after the banks failed to set up the correct alerts warning them about unarranged overdraft charges. To make a travel insurance claim online log in to Membership Services and complete the online form. We have a range of cover across our packaged bank accounts. We can help you claim back any refund you may be entitled to from NatWest due to being mis-sold a packaged bank account. Published: 03:28 EST, 26 September 2016 | Updated: 03:48 . 10 monthly fee. However, there are several steps that you should follow if you prefer or wish to start this process yourself: If you feel you have been mis-sold your packaged bank account, write to your bank and state in clear terms why you believe this to be the case. If you have a NatWest bank account which you believe has been mis-sold there are several points which you need to consider and ask yourself. On this page you'll find information about complaints involving the sale of a packaged bank account. T&Cs apply. Hi In 2007 I asked the Natwest to refund me the monthly advantage gold current account fees. Ensure they dont wriggle out of paying back what theyve taken from you. Having a strong case for a mis-sold financial product is key to getting a refund and Claims Compass can help verify this for you. We've pulled together a range of commonly asked questions. Platinum Travel Insurance Terms (PDF 721KB), Black Account Travel Insurance Terms (PDF 800KB). Registered office: 250 Bishopsgate, London, EC2M 4AA. But it won't look at your complaint until you've contacted your bank first and given it eight weeks to respond. This info does not constitute financial advice, always do your own research on top to ensure it's right for your specific circumstances and remember we focus on rates not service. If they do not respond within this timeframe, or you are unhappy with their answer, then your next step could be to contact the Ombudsman (although they do apply a strict time-limit to their cases). When you meet these conditions well pay 200 into your eligible account within 7 days. 1) Are NatWest Refunding Bank Charges? Claim a Packaged Bank Account Refund from. DoNotPay makes it both quick and easy to claim your NatWest packaged bank account refundin just three easy steps. Do you have a NatWest Select Silver, Select Platinum, Black or Advantage Gold account? My Package Bank Account was Mis-sold what can I do? Always remember anyone can post on the MSE forums, so it can be very different from our opinion. If you have a Select Silver, Select Platinum, Black or Advantage Gold account with the NatWest there is a reasonable chance that it has been mis-sold. I received a response from the Financial Services Ombudsman last week in relation to my claim for refund against NatWest. The key message here is to establish if the packaged bank account you have is right for you and if you have been a victim of mis-selling. During your trip 3. Includes 10 million medical expenses cover, cancellations, baggage and more. 1. You can use Claims Compass to: Access experienced, UK based claims advisors, Find the answers to your claims questions using our free guides & articles, Arrange a free, no obligation call to find out if you have a valid claim 24/7. See how we've performed in key service areas and view details on how we support all personal banking customers. 'Selected' for a NatWest Select Account? They are those where you pay a 10-15 monthly fee in return for insurance.". Or perhaps you already purchased annual travel insurance from another provider and so do not need travel cover in your bank account. Well done, I also claimed back packaged account fees (I was told I had to have the account to get an overdraft - rubbish) and also for a long ago credit card and overdraft protection fees - altogether I got back around 17k and did NOT (for anyone else reading) use a claim company. Many high street banks are having to accept liability in financial mis-selling claims relating to packaged bank accounts and, as such, are refunding millions of pounds in mis-sold account fees. The lender said it's made the pledge after an. Of course, you will need to file the same amount of information that you filed with Natwestand with the number of complaints, response time can be slow. Our Silver bank accounts come with European travel insurance. WHAT a clever marketing ploy!. The Sidings The options to challenge the mis-sale of your NatWest account are available to you. Once an official complaint has been logged, the banks are required to respond within 8 weeks. In order to challenge the missile you must raise a complaint with the NatWest either in writing, online, by telephone or face-to-face. Packaged bank accounts are current accounts that come with extra features 'packaged' with them - from travel or mobile phone insurance, to special offers or extended overdrafts. To find out if you can extend your travel insurance to include cover for someone over 70, or with a new or existing medical condition, please sign in toMembership Servicesand complete the online form. New rules were implemented by the Financial Conduct Authority (FCA) back in 2013 to provide more protection for the customers being sold this type of bank account, as complaints to the Financial Ombudsman Service had been rising. But the 29-year-old was able to easily increase his hefty overdraft at the same time as spending thousands on online gambling sites in the midst of a gambling addiction. Is There A Time Limit For Making A Claim? Packaged Bank Accounts were mis-sold on an industrial scale. Theres no telling how many were mis-sold. By continuing to browse the site you are agreeing to our. . 2023 YourMoneyClaim. These can range from whether a fee free account was offered, through to the establishment as to whether the various benefits of the package account of any use to you financially or in your day-to-day lives. Being unable to stay in pre-booked accommodation due to Covid-19 or another pandemic, as long as you werent aware of this when you travelled. Select the reason for your chargeback, and provide relevant details, including the charge amount, the charge date, a description of the payment, and any files you can upload as evidence. Membership Services is where you can manage all of your account benefits, if you've not logged in before you'll need to sign up. Please contact Cora, your digital assistant will be able to provide . Family travel insurance for trips in the UK and worldwide up to 90 days, including 31 days for winter sports. Basic current account today, access to NatWest's vast offering for your future tomorrow. However, "if you were told you had to get it, you were probably mis-sold", he added. To reclaim funds you have sent to an incorrect payee you will need to chat with us.