Published: 03:28 EST, 26 September 2016 | Updated: 03:48 . Since this investigation over five years ago many of the practices are still being carried out. Along with other well-known high street banks, NatWest have been implicated in the financial mis-selling of some packaged bank accounts (PBA), including their Reward Silver and Reward Platinum accounts. The various benefits include travel insurance, vehicle cover through to reduced rates in borrowing. You were told that in order to have access to other financial services, you had to have a packaged account. My initial contact was through the Resolver portal in December and NatWest informed me of their decision to reject my claim in February. Black can't be applied for. RBS Group, which includes all three banks, broke a legal order requiring banks to send customers text alerts before they charge them for . In most cases, you should get a full refund of fees paid plus interest. To reclaim funds you have sent to an incorrect payee you will need to chat with us. Pre-existing medical conditions wont be covered. If you change your mind on your reward or packaged account, contact our telephony banking or visit us in branch. Find the Chargeback Instantly product on DoNotPay. Enjoy your refund! Print and post back to the details provided on our contact page. The cash is available to customers who've either been mis-sold packaged accounts or where bank charges put you in financial difficulty. To reclaim funds you have sent to an incorrect payee you will need to chat with us. Select the reason for your chargeback, and provide relevant details, including the charge amount, the charge date, a description of the payment, and any files you can upload as evidence. You are making an allegation of wrongdoing by Natwest. Basic current account today, access to NatWest's vast offering for your future tomorrow. Whether you're enrolling in Bill Pay or trying Mobile Deposit for the first time, we've created a library of interactive demos to walk you through step-by-step. The FCDO advising against 'all' or 'all but essential' travel due to Covid-19 or another pandemic. Set allowances and track your kids' spending and saving. Parent-managed pocket money app for 3-17 year olds. Claim a Packaged Bank Account Refund from NatWest Please contact Cora, your digital assistant will be able to provide further help and assistance. If you have been a victim of this, Claims Compass can help you get the compensation you deserve. Specific account eligibility criteria apply. All right reserved. Many banks and building societies offer cashback on monthly bills and loyalty rewards as an incentive to open or retain an account. BB7 9SE. No, it is important to remember you can only claim on one insurance policy when making a claim for a specific loss, so could be doubling up on insurance costs unnecessarily if you are paying two providers. Platinum Travel Insurance Terms (PDF 721KB), Black Account Travel Insurance Terms (PDF 800KB). The Mortgage Guarantee Scheme (95% mortgages), Change my automatic renewal for my home Insurance, Change my automatic renewal for my car insurance. We can obtain the documentation from your bank, 2. Often taking hundreds of pounds every year for products you wont use, cant use, or arent even aware youre paying for. Cora can help you with a wide range of queries and show you how to do your banking. You are not required to use our services to pursue your claim and it is possible for you to present your claim for free, either to the company against whom you wish to complain or to the Financial Ombudsman Service or Financial Services Compensation Scheme. The various benefits of the account should have been detailed to you and any exclusions that may have applied discussed. Specific account eligibility criteria apply. Editor, Marcus Herbert. NatWest Bank ; Natwest charges Refunded, now after packaged account fees - didnt know about them Announcements. - RBS: Call 0800 . Should they not find in your favour you then have the opportunity within six months of the decision to forward the complaint for review by the financial ombudsman. To see the full list of your account benefits: To apply for a Reward Platinum you must be an existing NatWest current account customer. We add qualifying cases to an ongoing court action via our top tier partner solicitor. The firm has designated guidelines to follow in dealing with any complaints and as such should confirm receipt of your concerns within a week. You were wrongly told that you had to get it if you wanted to get something else, such as a mortgage or an overdraft. Can I Claim for a Mis-sold NatWest bank account and what for. If you have any questions, or need any assistance, speak to us via live chat on this website, pick up the telephone or drop us an email. Business banking is available to eligible customers, over 18 who have the right to be self-employed in the UK. Earn rewards for spending with our partners. You can just sit back and relax. Once you have all of this information, you'll need to write to the bank to ask for your money back. 18 or older? Cashback can help you make money on your spending. If you have had a packaged bank account complaint against Natwest, you may be entitled to claim a full packaged bank account refund of all fees from Natwest. Telephone: 0800 138 7777 | Relay UK: 18001 0800 138 7777. NatWest performance indicators (PDF, 74KB). It may also include preferential access to things like airport lounges or discounts on services or products and customers typically pay a monthly fee to have this type of account. Those thinking of switching to the NatWest Select and Reward current accounts could pocket 200 for the move. Well done, I also claimed back packaged account fees (I was told I had to have the account to get an overdraft - rubbish) and also for a long ago credit card and overdraft protection fees - altogether I got back around 17k and did NOT (for anyone else reading) use a claim company. The tiers range from Silver Select Account to the Black Account. What is a bank Account with a Monthly fee? However, if you are unhappy with their judgement, you may decide to refer the case to the Ombudsmans official adjudicators. Can you claim a refund? Must be 18+, UK resident, and pay in 1,250 to an eligible NatWest account every month. For example, you may already have replacement cover for your mobile phone being paid for (or included) in your phone contract. Earn 2.02% AER / 2.00% Gross p.a. Whereas a standard basic current account, certainly for most domestic customers in the UK, is generally provided free of charge by their bank. Let us know in your application if you want to switch and when to get the ball rolling. Were the various benefits detailed to you, and was it established that these benefits were in fact of use. View our fullrange of accounts, including accounts with no monthly fee. This may involve asking them to close your existing fee-based account or change it to a standard free account and refund the fees you have paid. Learn more about Cora. We have a range of cover across our packaged bank accounts. How Can I Tell If My NatWest Bank Account Was Mis-sold? Due to my personal circumstances as a good old gesture of goodwill they have agreed to refund all charges and a 90 unarranged borrowing fee. because you were too old to be eligible or had excluded medical conditions etc), Telling a customer that they had to have a PBA as the only condition to be eligible for a loan, credit card, overdraft or mortgage with that bank, Being given false information or exaggerating the overall benefits, such as saying a PBA would hugely increase your financial credit score, Suggesting you would only be able to access amazing deals if you had a PBA and then later finding out those deals were available to all customers and, in some cases, at a cheaper price, Your bank failing to carry out an annual eligibility review or send you an annual eligibility statement for your packaged bank account, to clarify your current circumstances and establish whether the account is still right for you. Apple Pay (if you're 13+) and Google Pay (if you're 13+). Tap 'Going abroad' then 'Add trip' (iOS devices) or 'Register card' (Android devices) and follow the instructions on screen. The fee will appear as a charge on your account. Editor, Marcus Herbert. If you can prove you were mis-sold the account and have a strong case, customers have claimed for fee refunds going back a lot longer than that. Can a low carbon lifestyle save me money? This info does not constitute financial advice, always do your own research on top to ensure it's right for your specific circumstances and remember we focus on rates not service. In 2019, the worst packaged bank accounts for offering poor savings and limited insurance cover were revealed by consumer champion Which?. Please contact Cora, your digital assistant will be able to provide . They are not financial advice and you should not treat them as such. 31 monthly fee. A bank account with a monthly fee charged is normally referred to as a package bank account. Mis-selling occurs when a bank fails to do this. Even if you are basically happy with the fees you are paying for your packaged bank account, it is prudent to check if the annual costs of the PBA represent good value compared to buying those insurances or services elsewhere. Having a strong case for a mis-sold financial product is key to getting a refund and Claims Compass can help verify this for you. Packaged bank accounts are those that offer additional services for a monthly fee, such as: Many banks, including Natwest, sell packaged bank accounts, and if you pay for a NatWest bank account,it is probably a packaged account. By Emma Gunn for Thisismoney.co.uk. Speaking on The Martin Lewis Money Show last night, Martin said: "Does your bank owe you thousands of pounds? In this guide, we will explain what a packaged bank account is, how they differ from a standard current account, how to tell if you were mis-sold your PBA, and the steps to take if you think you are affected. All you need to do is tap on your account from the main page and go to 'Manage my card'. You're unable to access your pre-booked accommodation due to Covid-19 or another pandemic. If you were mis-sold, you should get the monthly fees back plus interest. If you have travel insurance, depending on your policy, it could cover the costs of unforeseen incidents such as health emergencies, cancelled flights or missing luggage. Once an official complaint has been logged, the banks are required to respond within 8 weeks. Your Money Claim was set up by its directors who have over 30 years industry experience. We can help you claim back any refund you my be entitled to from NatWest. I received a response from the Financial Services Ombudsman last week in relation to my claim for refund against NatWest. After The Sun got in touch, the bank offered Leon a 2,516 refund in overdraft fees as a gesture of goodwill. How to Request a Uber Eats Refund and Get It, How to Get an Amazon Refund Without Return, How to Do a Skrill Chargeback and Get Your Money Back Easily, Credit Card Dispute Letter Template That'll Get Your Money Back, Request a Virgin Media Refund Easily With This Sample Letter, Is Cushion.ai Legitimate? Copyright National Westminster Bank plc document.write(new Date().getFullYear()); . Eligible deposits with us are protected up to a total of 85,000 by the Financial Services Compensation Scheme (FSCS), the UK's deposit guarantee scheme. Children must be living at the home address (or with the other parent) and be neither married nor in a civil partnership. Before your trip 2. A further review was carried out some time later and still found that many financial institutions were falling foul of those rules, including the popular and well-known bank NatWest. A packaged bank account is a current account that includes additional benefits, such as mobile phone insurance, travel insurance, breakdown cover etc. DoNotPay believes that you work hard for your money, and you should be refunded for accounts that have been mis-sold or oversold. We can check the documentation to see whether you may qualify for compensation, 3.