PBAs are current accounts with extra features bolted on for a monthly fee, typically around 5-30 per month. Sit back and relax while we do the work. Our digital banking solutions make it easier than ever to manage your money on-the-go. If you pay a monthly fee for your bank account, you may be able to reclaim 100s or even 1,000s, as many of these accounts were systemically mis-sold. Always remember anyone can post on the MSE forums, so it can be very different from our opinion. View our online Press Pack. We will be able to calculate if this account is saving/making you . Family travel insurance for trips in the UK and worldwide up to 31 days, including winter sports. NatWest should have records of the sale but if they do not your recollection can be invaluable. We often link to other websites, but we can't be responsible for their content. Only you and any joint account holder will be covered. In order to challenge the missile you must raise a complaint with the NatWest either in writing, online, by telephone or face-to-face. After The Sun got in touch, the bank offered Leon a 2,516 refund in overdraft fees as a gesture of goodwill. That way, you wont be affected by the time bar. My Package Bank Account was Mis-sold what can I do? Hi In 2007 I asked the Natwest to refund me the monthly advantage gold current account fees. Yes, they are. . They are not financial advice and you should not treat them as such. Whalley Our Platinum and Black bank accounts come with Worldwide travel insurance. How can I make my home more energy efficient? If you have been a victim of this, Claims Compass can help you get the compensation you deserve. The Financial Ombudsman has declared Natwest the worst offender when it comes to mis-selling Packaged Bank Accounts. Once an official complaint has been logged, the banks are required to respond within 8 weeks. Apple Pay (if you're 13+) and Google Pay (if you're 13+). Packaged bank accounts might have a name such as a 'Gold' or 'Reward'. Exchange encouragement and information about getting your bank charges refunded Followers 1 Subforums NatWest Successes **Existing Successful Claims Only *NO* New Threads Please** - Contact a moderator to move your thread 25.3k posts Deal with Natwest directly. Your Money Claim is a trading name of Your Money Management Ltd. Authorised and regulated by the Financial Conduct Authority (FRN 835466). Our fraud monitoring services will secure and monitor your debit card activity the same way as it does within the UK so you can travel freely without having to notify us. 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. We may ask you to pay an additional premium or we may not cover your condition. 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. It can take some months for the Ombudsman to reach a decision, so you need to be patient. Some pay as much as 20 per month. Names of Nat West Packaged Bank Accounts The monthly fees pay for additional benefits and services, but many customers have now realised that the accounts are in fact unsuitable for their circumstances or were falsely recommended and so have successfully received a refund of all fees paid plus interest, in valid compensation claims. We often link to other websites, but we can't be responsible for their content. Black can't be applied for. The bank may offer you a full or partial refund of around six months' worth of charges as a goodwill gesture. Lancashire The packaged bank account or PBA are account facilities set up by banks through a current account and are their way of justifying charging a monthly fee for the operation of the account. 111.6K Posts I recently applied for the monthly charges to be refunded. Silver Travel Insurance Terms (PDF, 202 KB), Platinum Travel Insurance Terms (PDF, 721 KB), Black Travel Insurance Terms (PDF, 800 KB). Many high street banks are having to accept liability in financial mis-selling claims relating to packaged bank accounts and, as such, are refunding millions of pounds in mis-sold account fees. NatWest Bank ; Advantage Gold Package Account Fees Surprise Refund after refusal years ago Those are only the complaints that made it to the Ombudsman, there are likely thousands more that never make it past the bank. You couldn't actually claim on the insurance because of a pre-existing medical condition or you were too old. They said NO we are the big bank and you are not important. You're automatically covered by your travel insurance if you have a Silver, Platinum, or Black bank account. Our experts are on-hand to help. Apply online or via our mobile app to switch a current account held elsewhere into a NatWest account from 14th February 2023 to receive our offer of 200. We cover unlimited holidays for a maximum of 22 days (Silver), 31 days (Platinum) or 90 days (Black). IF any of the below points apply to you, you should be able to make a claim. The FCDO advising against 'all' or 'all but essential' travel due to Covid-19 or another pandemic. Natwests PBAs attract fees of up to 25 per month in return for the typical insurance products bundled with current accounts travel, mobile phone and vehicle breakdown. If a number of the benefits of the product do not meet your financial or lifestyle needs the product itself can be expensive and of course mis-sold. Do note, while we always aim to give you accurate product info at the point of publication, unfortunately price and terms of products and deals can always be changed by the provider afterwards, so double check first. Offer T&Cs apply. We sometimes hear from consumers who feel their account wasn't suitable for them, or that they weren't given a choice about taking the account. If you have been a victim of this, Claims Compass can help you get the compensation you deserve. Or perhaps you already purchased annual travel insurance from another provider and so do not need travel cover in your bank account. 4) Can I Claim Back My Bank Account Monthly Fee? How much emergency savings should I have? Click the link below to find out more. Many high street banks are having to accept liability in financial mis-selling claims relating to packaged bank accounts and, as such, are refunding millions of pounds in mis-sold account fees. See how we've performed in key service areas and view details on how we support all personal banking customers. If you don't know how much you've paid you can check your online banking or you can ask the bank for your old statements by calling or writing a letter. Below is our top-pick packaged bank account which, for a monthly fee, offers various insurance perks. Registered Office: 22-28 Willow Street, Accrington, Lancashire, BB5 1LP. They may find a PBA convenient, to have such insurances all in one place, and feel that the monthly fee they pay represents good value for money. Ombudsman rejected my claim against packaged bank account fees. In the second half of 2015, it upheld nearly one in four complaints against the bank out of a total 4,872. What type of account are you looking for? Many banks and building societies offer cashback on monthly bills and loyalty rewards as an incentive to open or retain an account. 'Selected' for a NatWest Select Account? 5) Are NatWest Refunding Platinum Account Customers? Set allowances and track your kids' spending and saving. Victory House We can claim on your behalf. To apply for a Reward Black you must be an existing NatWest current account customer and meet one of the following criteria: have a minimum 100k sole income or 120k joint income paid into your NatWest account, or 500k minimum mortgage borrowing with us, or minimum 100k savings or investments held with us. You were never offered a free bank account instead. You were never informed that you were not eligible for some benefits. To see the full list of your account benefits: To apply for a Reward Platinum you must be an existing NatWest current account customer. To inquire about a licence to reproduce material, visit our Syndication site. You must have the latest version of the app which you can get or update from your app store You', Video Banking is a service where you can speak to us about our range of products and get a free face-to-face Financial Health Check wherever you are, at a. How can I make my home more energy efficient? For those who are reading this forum and want to learn from this experience, perversely it is always best to make all your finance complaints initially via the FOS. NatWest Packaged Bank Account Refunds: Next Steps, I am happy for a claims expert to contact me to find out if my claim qualifies, Pera Business Park, Melton Mowbray, LE13 0PB, 2021 -SoftwareBox Solutions Ltd TA Claims Compass - Company Reg No: 12205095, packaged bank account may have been mis-sold, Not being told what the monthly or annual fee was to open and retain the packaged bank account, Not having been made aware of all the key benefits and exclusions of the PBA when you first opened the account, Being moved or upgraded from an existing free current account to a fee based packaged bank account without knowing or gaining your permission, Being pressured into starting a PBA without the salesperson advising you there was a free current account option available instead, The bank neglecting to carry out an initial eligibility check on the account holders, to establish the relevance and access to the additional benefits and services on offer, Failing to reasonably check and advise you of the benefits you could not claim, or worse still knowing you would not be able to claim (i.e. Free accounts are still in operation but they are promoted as derisory and of poor quality if offered at all which is of course an option anyone should they not wish to pay a monthly fee to operate an account. We can check the documentation to see whether you may qualify for compensation, 3. RBS Group, which includes all three banks, broke a legal order requiring banks to send customers text alerts before they charge them for . 1. Go for it. We have a range of cover across our packaged bank accounts. General Policy FAQsTravel InsuranceYou should refer to the, A free Rooster Card Subscription (usually costing 1.99 per month per card or 19.99 per year per card) with NatWest Rooster Money for up to, Sign up for NatWest Rooster Money and download the app. Includes 10 million medical expenses cover, cancellations, baggage and more. Have All Packaged Bank Accounts Been Mis-sold? Have you met Cora, your digital assistant?Cora can help you with a wide range of queries, including this one. First of all, you'll need to contact the bank and prove that you were in financial hardship which the fees contributed to or made worse. Upgrade your existing NatWest current account to a Reward account. B&M to start closing stores within days - full list of shops shutting, Cadbury axes popular Easter egg and shoppers will be gutted, Major fashion brand to close another store forever this weekend, Inside UK's BIGGEST charity shop where you can buy designer goods for 2.99, News Group Newspapers Limited in England No. We can help you claim back any refund you may be entitled to from NatWest due to being mis-sold a packaged bank account. You're unable to access your pre-booked accommodation due to Covid-19 or another pandemic. In return, customers get benefits like travel insurance and airport lounge access. These packaged accounts often have names such as Silver, Gold or Platinum accounts. Apply online or via our mobile app to switch a current account held elsewhere into a NatWest account from14thFebruary 2023to receive our offer of 200. Learn more about Cora. "The first is for packaged bank accounts. You can't apply directly for this account. I am an Independent Financial Adviser (IFA). You are making an allegation of wrongdoing by Natwest. One reader, who was unwittingly charged 25 a month, recovered all his fees after complaining. You were told the account would improve your credit score. These can range from whether a fee free account was offered, through to the establishment as to whether the various benefits of the package account of any use to you financially or in your day-to-day lives. With another bank? It's worth noting that if you send a payment to a closed account, you need to wait at least one working day as the funds may be sent back to your account. T&Cs apply. 10 monthly fee. Approximately 10 million PBAs are open today. You can get a copy of your travel insurance terms here: SilverTravel Insurance Terms (PDF 202KB).
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