Natwest package fee

[Cornflower123]

I opened a Natwest account in branch about 8 years ago and

was very much guided into getting this account that had a monthly £12 fee.

 

 

The associated policies were 'sold' as an aside really,

just a bonus of that account and I was told that this was a very good account for my credit rating.

 

 

In any case I had mobile phone insurance and breakdown cover elsewhere

and nothing much else applied to me

but I didn't know I was paying for insurance policies every month,

I thought the £12 a month was what the account cost.

 

a year ago I stopped using the account as such although it was still open and forgot about the £12 fee each month to the effect that

 

 

when I finally opened some post from them I now owed them nearly £1k in charges due to the fee pushing my account into the red.

 

I managed to clear the £1k,

I couldn't face much of a fight with them at this time,

I had major surgery in the summer and have spent all this time since recovering.

 

 

Then I read about these packaged fees and they were unjustly sold.

 

Am I right in thinking I might be able to reclaim these fees?

[firstship]

Cornflower Hi and Welcome,.I think you are referring to( CPP )Card Protection or Card Protection Plus,this is what Natwest called these insurance schemes,and they are currently contacting customers who took out these insurances,as subject to Court Hearings these will be paid back,but not quickly.

 

Can you confirm from your statements what they called these £12 insurance charges

 

FS

[Cornflower123]

Thanks for replying Firstship.

No it was a bank account. Martin Lewis was saying the other week on tv that the packaged bank accounts that had a fee every month (usually £12 or £15) were missold. This is what I mean

[Cornflower123]

It was an Advantage Gold account

[firstship]

Cornflower Google CPP this is the name of the insurance company, or read Martin3030 on this site "History of CPP"

 

An Advantage Gold Account would have been a prime target for this insurance to be sold by the bank,it protected your debit card and gave you a raft of other supposed savings such as mobile phones etc,it was mis-sold and you will be contacted by CPP,if you have moved address,contact Natwest Bank

 

FS

Edited October 26, 2013 by firstship

[Cornflower123]

Hi Firstship, apologies for my absence, I've been in an out of hospital.

I don't think it was CPP, although I had that with HSBC.

It was a bundle of insurance policies like car breakdown, travel ins etc but sold as a monthly fee in order to have the bank account.

[firstship]

Hope you are on the mend.

 

Suggest you write to Natwest and claim back the mis-sold insurance scheme.On your statements the monthly deduction must have a title,what do they call it

 

FS

[flatwebb]

On your statements the monthly deduction must have a title, what do they call it?

 

I have an Advantage Gold account, the monthly deduction is actually now £15 up from £12! In my statements it is identified as transaction type 'CHARGE'. In the description field there is never anything more than a date for the charge and my acc number, e.g. '03JUL A/C ********'

 

Has anyone successfully claimed back these charges as yet? I'd be very interested to know...

[SabreSheep]

Hi there

 

Please start a new thread in the correct forum

[zuzanka23]

Hi there

 

Please start a new thread in the correct forum

I would like to know the same. Which thread should I be looking for? Thanks

[dx100uk]

http://www.fca.org.uk/firms/being-regulated/meeting-your-obligations/firm-guides/consultations/packaged-bank-accounts

 

 

http://www.dailymail.co.uk/news/article-2547073/Backlash-rip-fee-paying-bank-accounts-Thousands-customers-complain-claims-widely-mis-sold.html

[citizenB]

I would like to know the same. Which thread should I be looking for? Thanks

 

 

You need to ask your question in a thread of your own and not tagged on to a thread that is quite ancient

 

The forum you require is, linked below.

 

http://www.consumeractiongroup.co.uk/forum/forumdisplay.php?12-NatWest-Bank

 

Click on the link above, look for the "post new thread" button at the left hand side of the screen - click on that and a new screen will open and you can ask your questions.

[dx100uk]

that user already has a thread running

 

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?434075-can-we-still-claim-bank-charges-back

 

 

dx