Student charges...... help needed!

[sophinoey]

Hey!

 

I have a student account [postgrad] and I have just been killed constantly with charges all year...... this last lot was the final straw!

Can they do this to me? Can I claim any back? Are they legal?

 

I have NO knowlegde on banks, charges etc......... and need a little help!

 

Thanks for all your time and help.

 

My statement is below.

 

My arranged overdraft is £2k

 

24 Jul 2009 INT 05JUL A/C xxxxx - 26.21 -£2,016.20

24 Jul 2009 CHG 03JUL A/C xxxxx - 28.00 -£2,044.20

24 Jul 2009 CHG UNPAID ITEM FEE , 03JUL A/C xxxxx - 38.00 -£2,082.20

24 Jul 2009 CHG GTEE CARD PYMT FEE, 03JUL A/C xx - 70.00 -£2,152.20

[yourbank]

Hey!

 

I have a student account [postgrad] and I have just been killed constantly with charges all year...... this last lot was the final straw!

Can they do this to me? Can I claim any back? Are they legal?

 

I have NO knowlegde on banks, charges etc......... and need a little help!

 

Thanks for all your time and help.

 

My statement is below.

 

My arranged overdraft is £2k

 

24 Jul 2009 INT 05JUL A/C xxxxx - 26.21 -£2,016.20

24 Jul 2009 CHG 03JUL A/C xxxxx - 28.00 -£2,044.20

24 Jul 2009 CHG UNPAID ITEM FEE , 03JUL A/C xxxxx - 38.00 -£2,082.20

24 Jul 2009 CHG GTEE CARD PYMT FEE, 03JUL A/C xx - 70.00 -£2,152.20

 

 

How come you don't have a student/graduate account?

[sophinoey]

How come you don't have a student/graduate account?

 

 

Sorry I do have that...... I have had it for 1 year.

[yourbank]

Well the list you have there are Maintenance charges(you don't get those if you have a student account) and Guaranteed Card Payment fees(you don't get those if you have a student account).

EDIT: the unpaid fee is one that you can get on a student account so that one is a valid on so to speak.

 

Can you give NatWest a call and ask them to confirm the status of your account?

 

Did you change courses during you uni degree?

Did you make natwest aware that you were doing a postgrad so that they will extend the terms on the student account since you are still studying?

 

I worked in student banking branch for 8 years up until February this year so there is a problem with your account if you have those charges on the account.

[sophinoey]

Thanks for that reply, I am going to give them a ring on Monday.

 

Just a quick question, I have just graduated ie/ 2 weeks ago, but do not have current employment until Spet [teaching]. Is it possible they have changed the status of my account?

 

Also, if I have had charges earlier on during the year to similar effect, can I claim back on them?

 

Many thanks

[yourbank]

Thanks for that reply, I am going to give them a ring on Monday.

 

Just a quick question, I have just graduated ie/ 2 weeks ago, but do not have current employment until Spet [teaching]. Is it possible they have changed the status of my account?

 

Also, if I have had charges earlier on during the year to similar effect, can I claim back on them?

 

Many thanks

 

You have got to find out what happened to the student status of the account. If you had charges earlier than that and they were either maintenance charges or guaranteed card payment charges then you will need to look at whether the bank made an error. If the totality of the charges are more than the DD going out then you have a case for a refund. You are getting interest charged as well(you shouldn't if it is a student account so I think you may have a case for either bank error or maladministration of your account and therefore a full refund of CHARGES PLUS INTEREST incl. Unpaid items).

If you have internet banking please have a look back on your account for charges and interest.

[sophinoey]

Many thanks.

 

I have just spoken with the bank and they have informed me that my account was never changed to student/graduate. She therefore advised me to speak to my local branch about refunding the bank charges.

 

I can't believe i hadn't noticed the status of my account before!

 

Thanks for all your help!

[yourbank]

Many thanks.

 

I have just spoken with the bank and they have informed me that my account was never changed to student/graduate. She therefore advised me to speak to my local branch about refunding the bank charges.

 

I can't believe i hadn't noticed the status of my account before!

 

Thanks for all your help!

 

Charges AND interest....remember up to £2000 it would have been interest free and would be for you up until next year

[sophinoey]

Hiya!

 

Just a follow up post..... I spoke to my branch and they said that the charges were all justified and that my account was a student/graduate one.

 

They said I wasn't entitled to any refund...... I am very confused as have had some advice from Natwest via the phone saying that I could claim back some fo the charges and interest, and they also said I didn't have a student acc!

 

Very strange.....Finding it hard to understand what they are saying to me now as it is all in bankers lingo/jargon!

 

Any help would be appreciated.

[yourbank]

Many thanks.

 

I have just spoken with the bank and they have informed me that my account was never changed to student/graduate. She therefore advised me to speak to my local branch about refunding the bank charges.

 

I can't believe i hadn't noticed the status of my account before!

 

Thanks for all your help!

 

This is the key to the refund, WHY was it not changed to a student/graduate account?

Once you know the reason why then I can tell you how we are going to get natwest to repay the charges.

[yourbank]

Hiya!

 

Just a follow up post..... I spoke to my branch and they said that the charges were all justified and that my account was a student/graduate one.

They said I wasn't entitled to any refund...... I am very confused as have had some advice from Natwest via the phone saying that I could claim back some fo the charges and interest, and they also said I didn't have a student acc!

 

Very strange.....Finding it hard to understand what they are saying to me now as it is all in bankers lingo/jargon!

 

Any help would be appreciated.

 

Marvellous, can you ask the manager to write to you quoting when your account became a student account?

 

Then write back with this: in NatWest's fees brochure it quotes the fees and adds a note to this;

 

Note that the Maintenance Charge, Guaranteed Card Payment Fee and Paid Referral Fee do not apply to Student and Graduate Accounts.

[sophinoey]

Apparently it was changed to a student/grad account and that the lady on the phone got it wrong....?!

 

I kept asking my branch why the lady on the phone told me it was not a student account.... they just said 'it must have been an error'

[sophinoey]

When I queried this at the bank.... they said that all those charges do apply and that it was just the interest that didn't......

 

I know that my bank became a student account in Aug 2008.

[yourbank]

When I queried this at the bank.... they said that all those charges do apply and that it was just the interest that didn't......

 

I know that my bank became a student account in Aug 2008.

 

Ask the bank to confirm WHEN the account became a student/grad account.

If it was August 2008 then those charges HAVE to be refunded.

[yourbank]

Hey!

 

I have a student account [postgrad] and I have just been killed constantly with charges all year...... this last lot was the final straw!

Can they do this to me? Can I claim any back? Are they legal?

 

I have NO knowlegde on banks, charges etc......... and need a little help!

 

Thanks for all your time and help.

 

My statement is below.

 

My arranged overdraft is £2k

 

24 Jul 2009 INT 05JUL A/C xxxxx - 26.21 -£2,016.20The bank have admitted this should not have gone out so is there more interest?

24 Jul 2009 CHG 03JUL A/C xxxxx - 28.00 -£2,044.20student/grad accounts cannot be charged this

24 Jul 2009 CHG UNPAID ITEM FEE , 03JUL A/C xxxxx - 38.00 -£2,082.20

24 Jul 2009 CHG GTEE CARD PYMT FEE, 03JUL A/C xx - 70.00 -£2,152.20Student/grad account cannot be charges this

 

So far, I have £124.21 to be refunded. Is there any other interest charges?(cos that might dictate the UNPAID item fee which is the only legit-though still reclaimable through the normal methods)

[sophinoey]

I saw on the screen it was August 2008.

 

I will write a letter to my bank manager to confirm and will add in the note that you were kind enough to post.

 

Many thanks!

[sophinoey]

No those were the only charges made to my account.

 

It seems odd they all came at a similar time.

[yourbank]

I saw on the screen it was August 2008.

 

I will write a letter to my bank manager to confirm and will add in the note that you were kind enough to post.

 

Many thanks!

Right, if you have internet banking then look back through it for interest charges, ok? Add them up to the point that you got the Direct Debit returned. Remember it should be interest free so if the interest was higher at the point the DD went out then you are due Refund of ALL CHARGES and ALL INTEREST.

Make sense ?

[yourbank]

we kinda cross posted. Now I would say that it cost you £38.00 inconvenience and worry about the effect that this natwest error would have on your credit rating, right ?

so I make that £150.00 ish refund

[sophinoey]

crystal! many thanks!