Natwest "arranged overdraft fee"

holymonk · 19 Sep 2013 at 21:35

I have a £1400 arranged overdraft with Natwest for as long as I can remember.

This month I have noticed that on-top of the interest charged for this, they have also taken an additional £6.00 for an arranged overdraft.

They haven't written to me, and doing a quick google I can see that the fat cats are at it again.

Anyone else here that have been stung with this? I have put a complaint in and if they don't waive this greedy charge will look to move to another bank.

Any suggestions on a bank with a decent overdraft facility that treats its customers fairly?

Roadkillv1 · 19 Sep 2013 at 21:38

i got the charge too, they did email about the changes a long time ago.

[FnG]magnolia · 19 Sep 2013 at 21:41

holymonk said:
doing a quick google I can see that the fat cats are at it again.

Instead of googling did you bother to read the terms of your agreement at the time of receiving the service or any subsequent communications they've sent you? No, thought not.

Anyone else here that have been stung with this? I have put a complaint in and if they don't waive this greedy charge will look to move to another bank.

Yep, take your debt somewhere else.

Any suggestions on a bank with a decent overdraft facility that treats its customers fairly?

You not reading the terms and conditions is not unfair, it is ignorant.

holymonk · 19 Sep 2013 at 21:47

Get a life [FnG]magnolia, sad little troll with 18k posts.

I've had this account for over 10 years, I have heard nothing about this new fee until I saw it on my statement this month. Its greed pure and simple, if I had known about it I would have switched banks, nothing to do with debt, £10 over and you get a £6 charge.

fornowagain · 19 Sep 2013 at 21:51

They did email me a change to the T&C a while back, noticed the charge even though I have no overdraft. Gits.

rodenal · 19 Sep 2013 at 21:54

Charge for having the facility, or charge for using it?

If it's for using it then there's one, really easy solution.....don't

Most banks charge daily for using an overdraft these days - though normally you wouldn't get this and interest.

What would you hope to achieve by writing to them, get your £6 back? It would probably cost you more in time spent thinking / writing about it

holymonk · 19 Sep 2013 at 21:55

rodenal said:
Charge for having the facility, or charge for using it?

If it's for using it then there's one, really easy solution.....don't

Most banks charge daily for using an overdraft these days - though normally you wouldn't get this and interest.

Charged for going £10.00 into overdraft, on-top of any interest charged.

I will just have to switch bank accounts, apparently its easier from this week which is ideal.

rodenal · 19 Sep 2013 at 21:56

I intentionally kept my account with £1 a day charge for use of the facility - it's more of an incentive to make sure I don't move too much money out of that account and ensure the overdraft isn't used!

box · 19 Sep 2013 at 22:04

Definitely got an email about this a few months back.

Destination · 19 Sep 2013 at 22:15

Does your bank had the correct address for you.
The ToS of most RBS things changed not that long ago, I got mail relating to RBS and its subdivision bank accounts I hold.

[FnG]magnolia · 19 Sep 2013 at 22:33

holymonk said:
Get a life [FnG]magnolia, sad little troll with 18k posts.

I've had this account for over 10 years, I have heard nothing about this new fee until I saw it on my statement this month. Its greed pure and simple, if I had known about it I would have switched banks, nothing to do with debt, £10 over and you get a £6 charge.

It's illegal for a Bank to change your terms without informing you. As others have said, they have informed you, you have just not read it. The error is yours, not the Banks.

tonyt3rry · 19 Sep 2013 at 22:41

im with rbs I have to pay 13 or so for my overdraft of £250

estebanrey · 19 Sep 2013 at 22:41

[FnG]magnolia;24973257 said:
It's illegal for a Bank to change your terms without informing you. As others have said, they have informed you, you have just not read it. The error is yours, not the Banks.

Oh so because it's not illegal that means it's OK?

Drink driving was legal in the 50s, that doesn't mean it was morally acceptable to do so.

dirtychinchilla · 19 Sep 2013 at 22:44

Pay off your overdraft.

Orch · 19 Sep 2013 at 22:46

estebanrey said:
Oh so because it's not illegal that means it's OK?

Well, yes.

By the sounds of it there was plenty of time to switch banks. An overdraft is a service provided, not a right claimed.

Diagro · 19 Sep 2013 at 22:47

Lol op

The_Abyss · 19 Sep 2013 at 23:16

[FnG]magnolia;24973010 said:
Instead of googling did you bother to read the terms of your agreement at the time of receiving the service or any subsequent communications they've sent you? No, thought not.

Yep, take your debt somewhere else.

You not reading the terms and conditions is not unfair, it is ignorant.

100% with you on this.

There's a horrible culture developing with regards to money. That is, the complete absolution of personal responsibility.

Despite the 'big four' there's plenty of choice out there. Vote with your feet, but use your head* as you do so.

*Do not stick it in the sand.

[FnG]magnolia · 19 Sep 2013 at 23:43

estebanrey said:
Oh so because it's not illegal that means it's OK?

It means that the Bank has followed out its legal obligations and informed the customer of a change in their service provison. If the customer doesn't agree with this change in service then they can easily change bank or pay off the overdraft, saving them the fee. This only works if the customer actually reads the communications which the Bank sends, of course.

Drink driving was legal in the 50s, that doesn't mean it was morally acceptable to do so.

Banks are a business and are under no moral code to not change the services they offer.

Orch · 19 Sep 2013 at 23:45

willhub · 19 Sep 2013 at 23:56

If you don't like it have you not considered a credit card? Interest free for 9 months + rewards, much better than an overdraft.

Did you not receive any notification of the charge? If not, call 08457888444 and explain to them, they may refund the charge as a gesture of good will.

It's being change to bring Natwest in line with other banks.

As far as I can see Halifax charge £1 a day for their arrange overdraft fee!?!!?? That seems insanity to me, I'd happily pay £6.

**EDIT**

Right OP, so rather than just going through to charges you've gone through to COMPLAINTS?

There is no grounds for a complaint, they only do what charges do, and they won't keep refunding if you keep complaining, you'll turn into a serial complainer.

The £6 fee is tough luck, deal with it, many people threaten to move banks, they don't it's just mouth, and if they do they find they're not getting a better deal because the fact is, all banks charge, just in different ways.

And more fool those who move from Natwest to RBS.