Advantage Gold and Unarranged Borrowing- A guide

[NATTIE]

Advantage Gold and Unarranged Borrowing- A definitive guide




I have seen many threads on the forum that have said I have x charge and an advantage Gold account, how do I distinguish which is which? This will probably reduce the number of times I will have to post but will empower you to be able to read the statements that you receive or already have.


Please can I ask that you only post in relation to making this thread clear to anyone that views this because if you have a specific question re Natwest, please post on your thread and I will answer it or others will do so. If you are new to the forum please start your own thread. One last thing please do not post a thank you as you can see the scales above my post and I can see the details on the user cp. Thanks



I have an internal document that is dated but does have the answer to the why question.
In 2001, NatWest was taken over by the Royal Bank of Scotland Group and replaced the NatWest computer systems as well as aligning charges to the RBS Bank model of charges. That means that the Advantage Gold charge and the Unarranged Borrowing Fee were put together.


My first question that I do need a response to is that NatWest introduced this change in the latter part of 2002. Can some of you clarify to me the exact date these charges took effect on statements?


So now for the facts.
Unarranged borrowing fees have been £14 at the point of these changes in 2001, then £20 and then £28
Advantage Gold fees have been £6, then £9 then £10 and finally £12(since June this year).


If you changed to an Advantage Gold account or opened the account as Advantage Gold Account the you may see a partial fee.
It will appear at the end of a month and have a specific date ie. 31st Jan 03 charges 15dec £3.00, for example. This also applies if you have converted back from an Advantage Gold account.


If you have Unarranged Borrowing and Advantage gold you read it like this

Charge £20....£14 UAB and £6 ADGD fee, or £29......£20 UAB and £9 ADGD fee
or £37.........£28 UAB and £9 ADGD fee or £38........£28 UAB and £10 ADGD fee(please do not confuse this last one with the charge for bouncing a DD/SO/cheque- the narrative for that will be clear).




The partial fee also applies to the partial charge so for example 31st Jan 06 a charge of 34.50 would be £28 UAB and £6.50 for the ADGD.


Fees for the Advantage Gold Account go out at the end of the following month so if it was changed in the middle of january then the final charge for ADGD would be at the end of the following month.


Please can someone post on the one specific question that I have asked, as to the date that this charges change occurred in 2002? The internal document I have states the latter quarter of 2002, ie Oct, Nov, or December. This document is for staff to explain the changes on statements to customers.


Please do not say thanks but offer any further clarification points before I ask a Mod to put a stickie on this tomorrow evening. Use the scales above the post to say thanks or post on your own thread for other specific charges question which all of us will endeavour to answer



Edit. I have now got all the information I require so please read all of this thread including the final part which adds the important dates for you to understand fully the way Advantage Gold and Unarranged Borrowing Fees work.

Similar Threads:

• Advantage Gold
• Advantage gold fee
• Unarranged borrowing fees!
• Help - Advantage Gold
• Unarranged Borrowing Fees

[NATTIE]

Yes partially thanks Kate and gizmo111, I would also like the date when the charge went from £9 to £10 so we can have dates when the charge changed. One last one, I need someone who was charged Unarranged Borrowing throughout 2002, so that the date from when the charges were shown individually ie £14 Unarranged Borrowing and £6 Advantage Gold fee, to all together ie £20 with both charges together. We are all close to the info I need to get the Stickie on it.

[NATTIE]

thanks, so I throw the question open again to the forum for further info to concrete in the information I have already posted

[NATTIE]

I am still awaiting the final bits or info before I ask the thread to be closed and a stickie on this so to clarify i have one last question which requires a one month answer.

Was it October, November or December 2002 when Unarranged Borrowing and Advantage Gold was lumped together as one charge, which would have been £20?

[NATTIE]

msrobinson- I think that answers my question and thank you to all who have responded with the last bits of info that I required. I hope to get a stickie on this and will make one final post on my clarifications.

[NATTIE]

Important dates for Advantage Gold

As of October 2002 The Advantage Gold fee was £6
From September 2003 The Advantage Gold fee was £9
From July 2005 The Advantage Gold Fee was £10
And finally From June 2006 The advantage Gold fee is £12.

Additional note added 14/11/2006 It has come to my attention that during 2002/4 I believe some people trialled new benefits on Advantage Gold for the cost of £7.50.


Natwest put together charges for Advantage Gold and Unarranged Borrowing together from 31/10/2002 so that the charge for Advantage Gold and Unarranged Borrowing was not two separate charges but one fee.


This guide should clarify and clearly help you to distinguish penalty fees for Unarranged Borrowing which you can claim and Advantage Gold service charges that you cannot claim.

Good Luck to everyone claiming.

[NATTIE]

this Thread Is Complete So Please Do Not Post Any Further On This. Post On Your Own Thread And All The CAG Will Help. Thank You To All Who Have Helped Get This Information Correct But This Thread Needs No Further Comments. If You Like The Thread Please Feel Free To Click The Scales On The Top Right Hand Side And I Will See The Comments. If You Believe Any Information Is Incorrect Please Use Private Message(pm).


thank You

[NATTIE]

I am adding one last post as the site is still being asked what charges you can claim against so here it goes.
1) Paid Referral Fees- Yes
2) Card Misuse Charge- Yes
3) Default Fee- Yes
4) Unarranged Borrowing Fee/ Excess Borrowing- Yes
5) Unpaid direct debit/ Standing Order/ Cheque- Yes
6) Advantage Gold- No as it is a service charge and not a PENALTY charge


This should make you absolutely clear what you can and cannot claim in charges. I am in the process of trying to clarify the interest on charges from 2000 and how it works but that is on a separate thread. Please do not post on thread further but Private Message me for any clarification on charges specifically and NOT interest at the moment.

Thank you and please read this in it entirety.

[NATTIE]

Have decided to add some additional notes to this thread on the definition of REFERRAL FEES this fee seems to be causing the most difficulty in defining.

Paid Referral Fees/ Referral Fees- This is when the bank pays a direct debit or Standing Order that takes you over your agreed overdraft facility or overdrawn if you do not have one by £26 or more.

As I have said previously this is completed unless there is something that I have missed. On thing may be added as I am awaiting news on one last thing. Please do not post futher on here as I will be happy to answer questions on charges via Private Message or on your own thread.

Once again Good Luck to everyone claiming

[NATTIE]

why force them when you can do it yourself? Just write to them to downgrade the account to a Current Plus