Haven't used my RBS account since early 2007 but dug out my old statements and worked out the late charges between 2004 and 2006.

Charges total of around £160ish,added cash interest rate current as of last time I used the card before paying it off for grand total of £450 ish.

Posted off last Friday and received offer today of £60ish payable as cheque as Full & Final.

This was difference between £20 charge and current £12 charge plus 8%.

I've written back declining and stating intention to take to Court with attendant publicity as to how they justify their charges unless they cough up as requested in next fortnight.

Any body had similar dealings and how did they proceed?

there are template letters which you can use to reject partial payments

Quote them OFT 842 especially part 1.14

Wrote back declining their offer of £60 odd and giving them LBA letter saying 14 days to pay full amount claimed.

Received letter today upping offer to full repayment of charges +8% for total of around £170.

Spoke on phone to them and had explanation that uniquely RBS use the next payment received after a late charge has been applied to pay off the late charge first before using the remainder against your outstanding balance,meaning that any default charge never attracts compounded interest.

As such they will never pay the compound interest portion of any claim.

A smidgeon of negotiating increased their offer from 8% to 17%, meaning an additional £20 odd onto the total offer.

Any one have knowledge or experience of this or are they telling porkies to me?

I'm inclined to accept unless someone can disprove their statement above.

Any opinions or advice?

Bump

Acceptance of offer as F & F received today to fill in and return--any advice?

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Acceptance of offer as F & F received today to fill in and return--any advice?

Hi Middenmess

A while back when I claimed from RBS, they too replied to my claim with a full and final offer of a lot less than the total claim and the fac tthat they wouldn't pay interest. I declined and basically told them I wanted the full charge with interest or I would see them in court. I raised court proceedings for charges plus interest. No reply was received until the day before I was due to appear in court, when they e-mailed me a formal offer to pay me back all charges with interest.

I should point out this was before the test case, however if I was in your shoes I would raise court proceedings and the worst that would happen is the judge would stay the case until the test case is resolved and the OFT have decided on the fairness of the charges. This could be a long wait however, until all the ins and outs of the case are concluded.

If you really need the money and are not prepared to wait then you should probably accept their offer.

Bump

 

Acceptance of offer as F & F received today to fill in and return--any advice?

If it's a credit card claim and you are happy with the settlement then accept it.

Thanks guys,I'm happy to accept as £200 in my pocket now is better than in theirs and the possible prolonged time & hassle spent on a further £200 can be better spent on other things--like bank charges and PPI claims.