Reclaiming Bank Charges - Will they close my account or take overdraft facility away?

[likemylife]

I know from reading previous threads that a few MN'ers have now successfully reclaimed their bank charges so i'm hoping for some advice please! I have quite a large overdraft (£1800) with my bank - Natwest and i actually live in the overdraft! I have been thinking about claiming back my charges for some time now but i'm scared that they'll either A) close down my account and/or B) take my overdraft facility away and demand the £1800 back! Has anyone been in a similar position please and can offer me any advice? TIA x

I'm also waiting to hear from Natwest. I have not heard about them shutting accounts down but I also have an overdraft of £500 plus a loan of £1500. If I am successful with the charges (i reckon that owe me about £4k) I think they will take what I owe them out of the charges they pay back to me? Does that make sense?

Hi Lolly, thanks for that. Yes it does make sense and I guess thats what I'm scared of! I havent received statements or anything from them yet but i reckon i'm owed approx £1500 which would mean if i reclaim them, i'd actually end up owing them £300!! Dont know if i'd actually have to pay this to them or they'd just reduce my overdraft to £300?

I'm also with NW and live on my o/d, just toted up how much I can claim and it would clear the o/d and give me some more so I'm keen to do it. Just frightened that they'll call in the o/d in the meantime.

Thats another thing GOW, if they call in the o/d in the meantime, id be absolutely screwed! They probably know this aswell so maybe they would try it to 'scare me off'..hoping ill retract my claim to the charges?? can they do that do you think?

The way I look at it is that once I have paid back what I owe them from money they have taken from me - I would still be a bit better off! Once you have paid your overdraft off even if they take it away with the money they owe you you will be back on track... cos when your wages go in they will be yours and not the banks... do you know what I mean? Natwest have treated me appallingly over the years (I went through a bad break-up a few years back) and begged them to help me but they wouldn't. I remember for two months running they took £1000 in bank charges and would not give them back to me. I would go for it and if you have to pay the overdraft back sobeit at least you wont owe them anything anymore!

I have just spoken to Natwest Customer Relations to chase my statements and they said cos of back log there might be a little bit of a wait but to be a bit more patient. I also said that I was worried about them closing my account down and they said that they wouldnt do that so there is some good news for you "likemylife"!

some banks do close down accounts, claiming a breakdown of relationship between bank and customer. I don't think Natwest have done it, we're currently claiming off them, havign already been sucessful with HSBC. HSBC didn't close it neither. The advice is to open another account with an OD before starting a claim.

Thanks Lolly, wow that is good news and quite a weight off my mind! I'm just still a bit worried that they'll ask for the overdraft back before they decide what they will offer as a payout!
Kelly - i dont honestly think i'd get another account with an overdraft as, when DXP (dickhead XP!) left me 2 years ago, he also left me with all the debt which i couldnt pay and subsequently ended up with 3 CCJ's! Which is why i'm worried about the consequences of claiming these charges back in all honesty.
Ok, sod it, I'm going to do it! If I dont do it i guess ill never find out!

That's wont do nothing. Just go for it! Keep us posted. The customer relations address for Natwest is Ground Floor, National Westminster House, 225 Shenley Road, Borehamwood WD6 1TE

Was meant to say "they wont do nothing" not "that's wont do nothing"!!

You really should ask for it back - especially as they were in the news this week for refunding £36,000 to one person. They probably won't do anything, but the recommended advice is to open another one to be on the safe side.

I too live in my OD facility, but having had mine refunded I'll be in credit! Barclays and 1st Direct both paid up.

moneysavingexpert.com has all the instructions and draft letters. Good luck.

Thanks for that Lolly - is that the address i should send all correspondence to or do i send to my branch?
Foxy - well done on claiming yours back, hopefully i'll be in credit too soon (for once!!)

Does anyone have any dealings with HSBC and reclaiming charges? Positive or Negative!

if they do just change banks.

samsman - first direct are part of hsbc. seems to me that they are all refunding. i did ask 4 interest to be refunded, but i didn't get it and couldn't be bothered to persue it. Had it've been for a large amount I might have sent another letter.

Sorry but I have one more question....does anybody know if Natwest charge for the statements to be sent out? Just putting my letter in its envelope and didnt know whether to put a cheque in with it or not? TIA

Likemylife - send letter to the address I gave you not your branch address - thats what I did and it has taken longer. Also in the letter they sent me they said that they weren't going to charge me for statements. Keep us posted!

Thanks for that Lolly, of course I'll keep you updated! Please keep us updated on yours too!