jem v Natwest - really?

[jem07]

This sounds too good to be true... I've read everything there is to read (hopefully), but am I really entitled to reclaim some charges.I've basically been overdrawn for the past 10 years, been over my limit maybe twice (my limit being 2,500). I'm charged anything from 27.00-40.00 per month. I have only had a Standing Order bounced once (and charged through the nose for the privilige).I agree I should be penalised for being overdrawn, but penalised by SO MUCH???Can I still reclaim some of these charges?

[closey]

You can reclaim all of the unlawful charges levid from your account.

[jem07]

right, ok thank you... sorry about this but...For example on my monthly statement it says:29 Sep Interest 03SEP-A/C 8.4129 Sep charges 01SEP-A/C 12.00Do I calcluate both the Interest AND the charges for the past 6 years? or just the Interest or just the charges... sorry.. but I've read and read and read and have brain freeze for understanding the whole thing now :/

[bearo]

you can reclaim the charges

you can reclaim interest if it has been applied soley because you went overdrawn due to their charges

That is not the 8% interest you may keep seeing mentioned, that interest is added on when you file a small claim

But if you have interest from just charges you can put that into your schedule of charges when you send your first letter

[jem07]

hmmmm ok... so if I'm overdrawn ANYWAY then I can still reclaim their 'charges' but because their 'interest' doesn't take me over my limit, then I can't claim for that.sorry i feel such a noob

[kerriegeorge]

hi im afraid u cant claim the £12 (or previously £10 etc etc) because they are not penalty charges they are service charges for having your advantage gold acct. U can claim unarranged borrowing fee, card misuse, referral fees etc but not Advantage Gold Fees

[Shelty]

Jem, the argument is that if the bank hadn't charged you then you may not have been overdrawn. If you look in the templates library area you'll find a spreadsheet where you can note down all your charges for the last 6 years (make sure you do it in chronological order), and then in the right hand columns note what you're overdraft stood at at the end of each month when they charged you further interest. The spread sheet then works out how much of that interest should be paid back to you since the day the charges applied.

[kerriegeorge]

Hi Jem - the interest is alot of complicated work for a very small amount - most people dont claim it - i didnt. its up to u but by the sounds of things u will only have a small claim so the interest prob wouldnt amount to much. For more info on Advantage Gold fees see Natweststaffmember's sticky at the top of the Natwest Thread x

[jem07]

ahhhhhhhhh righto I'm getting it now (finally! I hear you cry)... thanks so much for spending time on me.I DO have a case, I see that now.... I had a terrible month and DID incurr 'unpaid item' costs of 38.00.In a couple of instances they didn't pay a bill and charged me 38.00 but even if they had paid the payment it STILL wouldn't have taken me over my limit :/ stttrrrange.Anyway, my next question (please dont cringe)... OBVIOUSLY I'll claim back the unreasonable 38.00 charges but my monthly 'charge' and 'interest' also got hyked up that month. So can I make some kind of claim against that also?

[kerriegeorge]

well if u go over your overdraft limit u will be charged an unarranged borrowing fee (UBF) this at the moment is £28. BUT what Natwest do is put the Advantage Gold Fee (AGF) and The UBF together so on your statement it would read £40. or previously £38 £36 etc if u have these charges u need to claim the UBF but not the AGF. Your interest will go up the more your overdrawn but unless you have gone over your overdraft limit as a direct result of the banks charges its not claimable. even if it is claimable its hardly worth it as its alot of compliacted work for a very small amount.

You can however once u get to the Court stage add on the 8% interest. have u filled in the spreadsheet in the bank templates library?

[jem07]

hi - no, I haven't YET.... I've just been clarifying I have a case (which it appears I do).Got to say that my statements for that particular month are not very clear as its a right MESS :'( but I'll battle through it.Thanks for all your help so far.. very much appreciated