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Bank statements and charges

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This is just a quick line of advice if anyone else is in the same position that I was a few months ago.


Nat West recently changed the dates that the monthly statements were issued for current accounts. They also amended the date that charges would be collected to 21 days after the statement was issued. My monthly fees/charges were normally taken at the end of each month after I had been paid but following the change was taken during the final week of the month. This meant that the account was empty and the charges took me over my overdraft limit resulting in more charges.


I complained to the bank and was posted from branch to branch with no one able to assist or stating that leaflets had been posted advising of the changes.


I therefore wrote a letter of complaint to the main office for complaints pointing out that leaflets were no use, I should have been told in writing. The end result is that all of my charges/fees have been refunded and my statement date has been amended to ensure that the charges are taken at teh end of the month. Apparently the date was initially changed, so I was told, because the FSA instructed the banks to be more open with charges.


I still have not worked that one out but just incase anyone has the same problems as I did, this is how I resolved it. There was no necessity for anything other than my letter.

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The changes to when the charges went out was sent out in January 2009 advising that first of all, interest/maintenance charges and packaged account fees would change to 21 days after the statement date from early April and then unpaid, referral fees and guaranteed card payments from June.

You can change the statement date and that will take effect from next month(ie one month from the date it is changed).


FSA Waiver on Bank Charges:http://www.fsa.gov.uk/pages/Doing/Regulated/Notify/Waiver/pdf/dir_quart_0709.pdf

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