Well the basics of charges is statements and knowing what the charge(s) are for.
1) Unarranged Borrowing Fee or Maintenance Charge-- This is when you have an overdraft or not and you go over that. The bank charges through charging periods which last a month and the charge goes out at the end of the month.
2) Unpaid Item- this appears on the statement and is when there is not sufficient funds in the account the previous working day(mon to Friday) to cover either a cheque, a direct debit or standing order to cover the amount going out. The bank "bounces" or does not pay the item and you get charged for it.
3) Card Misuse or Guaranteed Card Payment Fee(gtee card pymt)--This is when an item is paid by switch and goes through the account when the account is over its agreed or unagreed overdraft.
4) Referral Fee-- This is when an item is, rather than bounced is paid which takes the account over an agreed or unagreed overdraft by more than £26. 3 charges maximum a month on that last one.
5) Card Recovery Fee- This is when someone comes round to your house to recover your bank card
We have the main charges so what is the amounts i am looking for?
1) Unarranged Borrowing/Maintenance Charge
in 2000 it was £14 which then increased to £20 from April 2003 and then £28 from September 2004.
2) Unpaid Items
In 2000 it was £30 which went up to £38 from March 2005 (for businesses this is currently £35) Edit: From November 2007 max charge per day is £114 or three items.
3) Card Misuse or guaranteed Card Payment Fee-
In 2000 this was £25 and then went up in March 2005 to £35
4) Referral Fees
It was £25 per item(maximum of £75 per month). This changed in September 2004 to £30 per item(maximum of £90 per month).
5) Card Recovery Fee ---£125(not aware if any change to this charge has occurred)
Advantage Gold and Unarranged Borrowing/Maintenance Charge
Advantage Gold is a service fee so cannot be claimed and Unarranged Borrowing/Maintenance Charge is going over an arranged or unarranged overdraft without prior consent which can be claimed. A quick tip as to whether it is or is not an Advantage Gold account is that at the top of the statement it says Advantage Gold. If it was converted back the fee goes out at the end of the following month. The bank has changed the name of Unarraged Borrowing to Maintenance Charge on August 10th 2007.
Some background info first
In 2001, NatWest was taken over by the Royal Bank of Scotland Group and replaced the NatWest computer systems as well as aligning charges to the RBS Bank model of charges. That means that the Advantage Gold charge and the Unarranged Borrowing Fee were put together as one from October 2002.
How much was Advantage Gold and what was the amounts in question?
I am taking my starting point from when it was unclear so October 2002 so, for those that, are claiming so we have the charges as follows:
October 2002 The Advanntage Gold fee was £6
September 2003 The fee went up to £9
From July 2005 it was £10
From June 2006 it was £12
From April 28th 2008 it is £12.95
A quick note though, during 2002/3 there was a special charge for certain people trialling the newer Advantage
Gold benefits which was £7.50.
So how do I work out what is the Advantage Gold and Unarranged Borrowing charge?
31 jan Charges 02jan-A/C XXXXXXXX £40
The statement may say charge £20 so that is £14 Unarranged Borrowing and £6 ADGD fee, or £29 which is
£20 Unarranged Borrowing and £9 ADGD fee, or £37 which is Unarranged Borrowing and £9 ADGD, or
£38 which is £28 Unarranged Borrowing and £9 ADGD, or £40 which is £28 Unarranged Borrowing and £12 ADGD fee or £40.95 is £28 maintenace charge and £12.95 Advantage Gold.
However, if you converted the account back from advantage gold partially through the month it may have something
like this 31Jan06 charges £34.50 which is £28 Unarranged Borrowing and £6.50 ADGD.
There are some anomalies outside of this period. Some accounts that have been dowgraded from Advantage Gold will have a partial maintenance Fee charged as well.
Monthly Management Fee Option
Customer can choose to pay £10 a month and their unarranged fees will be reduced.
Maintenance Charge £17
Paid Referral £17 (max £51 per calender month)
Guaranteed Card Payment Fee £17
Unpaid Item £17(maximum £51 per day)
Letters have been going out in November 2007 offering this option.
1) Unarranged Borrowing Fee or Maintenance Charge-- This is when you have an overdraft or not and you go over that. The bank charges through charging periods which last a month and the charge goes out at the end of the month.
2) Unpaid Item- this appears on the statement and is when there is not sufficient funds in the account the previous working day(mon to Friday) to cover either a cheque, a direct debit or standing order to cover the amount going out. The bank "bounces" or does not pay the item and you get charged for it.
3) Card Misuse or Guaranteed Card Payment Fee(gtee card pymt)--This is when an item is paid by switch and goes through the account when the account is over its agreed or unagreed overdraft.
4) Referral Fee-- This is when an item is, rather than bounced is paid which takes the account over an agreed or unagreed overdraft by more than £26. 3 charges maximum a month on that last one.
5) Card Recovery Fee- This is when someone comes round to your house to recover your bank card
We have the main charges so what is the amounts i am looking for?
1) Unarranged Borrowing/Maintenance Charge
in 2000 it was £14 which then increased to £20 from April 2003 and then £28 from September 2004.
2) Unpaid Items
In 2000 it was £30 which went up to £38 from March 2005 (for businesses this is currently £35) Edit: From November 2007 max charge per day is £114 or three items.
3) Card Misuse or guaranteed Card Payment Fee-
In 2000 this was £25 and then went up in March 2005 to £35
4) Referral Fees
It was £25 per item(maximum of £75 per month). This changed in September 2004 to £30 per item(maximum of £90 per month).
5) Card Recovery Fee ---£125(not aware if any change to this charge has occurred)
Advantage Gold and Unarranged Borrowing/Maintenance Charge
Advantage Gold is a service fee so cannot be claimed and Unarranged Borrowing/Maintenance Charge is going over an arranged or unarranged overdraft without prior consent which can be claimed. A quick tip as to whether it is or is not an Advantage Gold account is that at the top of the statement it says Advantage Gold. If it was converted back the fee goes out at the end of the following month. The bank has changed the name of Unarraged Borrowing to Maintenance Charge on August 10th 2007.
Some background info first
In 2001, NatWest was taken over by the Royal Bank of Scotland Group and replaced the NatWest computer systems as well as aligning charges to the RBS Bank model of charges. That means that the Advantage Gold charge and the Unarranged Borrowing Fee were put together as one from October 2002.
How much was Advantage Gold and what was the amounts in question?
I am taking my starting point from when it was unclear so October 2002 so, for those that, are claiming so we have the charges as follows:
October 2002 The Advanntage Gold fee was £6
September 2003 The fee went up to £9
From July 2005 it was £10
From June 2006 it was £12
From April 28th 2008 it is £12.95
A quick note though, during 2002/3 there was a special charge for certain people trialling the newer Advantage
Gold benefits which was £7.50.
So how do I work out what is the Advantage Gold and Unarranged Borrowing charge?
31 jan Charges 02jan-A/C XXXXXXXX £40
The statement may say charge £20 so that is £14 Unarranged Borrowing and £6 ADGD fee, or £29 which is
£20 Unarranged Borrowing and £9 ADGD fee, or £37 which is Unarranged Borrowing and £9 ADGD, or
£38 which is £28 Unarranged Borrowing and £9 ADGD, or £40 which is £28 Unarranged Borrowing and £12 ADGD fee or £40.95 is £28 maintenace charge and £12.95 Advantage Gold.
However, if you converted the account back from advantage gold partially through the month it may have something
like this 31Jan06 charges £34.50 which is £28 Unarranged Borrowing and £6.50 ADGD.
There are some anomalies outside of this period. Some accounts that have been dowgraded from Advantage Gold will have a partial maintenance Fee charged as well.
Monthly Management Fee Option
Customer can choose to pay £10 a month and their unarranged fees will be reduced.
Maintenance Charge £17
Paid Referral £17 (max £51 per calender month)
Guaranteed Card Payment Fee £17
Unpaid Item £17(maximum £51 per day)
Letters have been going out in November 2007 offering this option.
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