Advantage Gold and Unarranged Borrowing- A guide

[Bookworm]

[hotdog]

I have found your thread to be very useful, but my charges do not match the figures that have been posted. I get a "CHG" on my statement which can be either £38 or £40 with no other explanation. What does this mean?

[Guest NATTIE]

It means you haven't read page 1, I do that sometimes as well.

[wehavetheright]

I know this thread is supposed to be closed, but can I just say that Natwest as far as I know have never lumped all the costs into one, what they did was just label them separately as "charges."

 

As of 31 October 2002, Natwest started sending out two separate 'statements' for Advantage Gold - the first was the actual bank statements, where it just said "interest", the date & the acct no with amount, and "charges", the date & the acct no, with separate amounts, but it of course does not say what these charges relate to.

 

The second statement Natwest started sending out from 31 October 2002 was a 'pre-advice details of charges/interest" which they sent out separately in advance of the actual bank statement. It is on this preadvice statement that they list all the actual charges, what they labelled as "Basis of Charge" eg. subscription of £9.00 (which is the advantage gold 'service' fee), unarranged borrowing fee £28.00 etc.

 

So the reason why most of you can't see the itemised charges is because you either haven't kept the separate preadvice statement of charges, or because when you wrote in for your bank statements, you didn't know to also ask for the preadvice details of charges statments that they also send out.

 

This of course is a further example of deceptive practise by banks to make it less transparent what you are being charged for, as it makes perfect sense to actually see it all in one place on the actual bank statement, as they used to do!

 

Hope this helps to clairfy the issue.

[Guest NATTIE]

Explained on page 1 of the thread except pre advice thingy which I believe NW do not do now.

Everyone else calm down it is a good point that has been made and a nice cheap shot at the end. I hope not to have to come back on this point of pre advice statements as point on that part was well made.

[wehavetheright]

Hi there,

I am still a Natwest Advantage Gold customer (but now downgraded to Current Plus when I realised I was paying for a subscription whose benefits I never used) - and I still get pre-advice statements for advance charges, everyone still does as far as I'm aware.

[Jangles65]

all all my fees seem to be llumped together and I have nothing listed as 'fees' it all seems to be charges and this is what I have sent to the small claims. I have just had my acknowledgement letter and Natwest are defending - will they chuck it out of court if I hve muddled fees and charges or will I be asked to recalculate? I am feeling over my head here.

[elliesnan]

will they change account to current plus even though there is money owing on ag account?

[Guest NATTIE]

Advantage Gold is what is called a packaged account. You pay £12 a month for additional benefits. When you convert it back the account number remains the same, the cards the same and cheque book the same. The only thing that changes is the type of account you have

[elliesnan]

cheers

[RobberBank]

Does anyone have the actual interest rates charged by Nat West for a) Authorised Borrowing and b) Unarranged Borrowing?

 

They appear on statements up to 4th oct 2002 but not afterwards.

 

Will be important to have the correct rates being charged when claiming contractual interest.

[Guest NATTIE]

There is another thread by me which has this on which relates to charges from 1991 to present day.

[RobberBank]

Can you point me........i've tried but cant find it!

 

Thanks

[RobberBank]

Got it now.....cheers

[Guest NATTIE]

I have spent 5 minutes looking for you and found it so make sure you thank Michael Browne on this one as his info when I was doing this was fantastic so click his scales for the info on interest rates etc, since 1991.

http://www.consumeractiongroup.co.uk/forum/natwest-bank/33577-natwest-charges-since-1991-a.html?highlight=1991+natwest

[RobberBank]

I'll be thanking all of those with large wads of Nat West cash (maybe not too large though!!!) when this is all sorted.

 

Am i missing something.....but what scales....and where??? And how do i thank Michael Browne.....or indeed find him?

 

As i mentioned earlier, i found the thread but some of the info wasnt known........is it somewhere else?

[Guest NATTIE]

I see Michael Browne on the threads every day when I click "new posts" and he has given advice to someone. The scales are bottom middle under your name when you post which you can use if you have found the information useful.

[rhodes2000]

I filed for a claim on my advantage gold account charges with interest also all my other charges natwest has passed it to their solicitors cobbetts who are defending the claim can I change my claim while it is in the legal process because I cant claim the service charges If I change my claim could the court strike it

[Guest NATTIE]

it will cost you £35 which you cannot reclaim, so yes

[rhodes2000]

Thanks NATTIE cobbetts are defending the claim on 26th jan Ive heard nothing from them yet at what stage will I have to pay the £35 and to whom

[Guest NATTIE]

have a look at the HMCS website and all is revealed.

[rosswilliams]

Hi all,

 

I have just received my statements from Nat West and I have noticed two fees taken called PLP Premium. Both fees were over £100. Does anyone know what PLP Premiums are?

 

I need to know whether it should be included in my claim or not.

 

Many Thanks,

 

Ross.

[lockie2000]

I.ve sent an letter to the natwest about getting my money back and they have sent me all the statements to me for the period i requested ( 2007 back to 2001.could some-one tell me what my next step is ?

Lockie2000

[PKea]

Nattie

 

On the back of the Whistleblower program and how Barclays mis sold additions onto bank accounts, Can the same be applied to the advantage Gold?

I am just sorting the mother inlaws Account out now and she owes £500 and that is just from the AG fee being debited to the account each month + interest.

[Guest NATTIE]

I am definitely not going there in any shape size form or description. That sort of thing is blatant misselling and my views on the topic are elsewhere on the forum.