‘Selected’ for a NatWest Select Account?
Can you claim a refund? The straight answer – maybe. Like a lot of other exclusive-sounding accounts, this account was a Packaged Bank Account. People like to feel they’ve been ‘Selected’ and that they are worthy of having something described as ‘Platinum’. WHAT a clever marketing ploy!
Names of Nat West Packaged Bank Accounts
The banks had all sorts of seductive names for these PBA accounts. If any of these ring a bell with you it’s time to have your dealings with the bank checked by an expert.
- Nat West Advantage Gold
- Nat West Black Account
- Nat West Select Platinum Account
- Nat West Select Silver Account
The trouble with such accounts is that they were very often quite unsuitable for the people who were persuaded to have them. Worse still, some of the banks’ customers didn’t even KNOW they had been ‘up-graded’ to a paid-for account. Believe it or not, bank staff were incentivised (a posh name for getting extra payment) for converting free account customers to these accounts. It seems some were a little too eager to score that extra payment, and didn’t always take the trouble to ensure such accounts were in the best interests of their customers. It was pretty shoddy behaviour.
If you are one of the thousands who have been mis-sold a PBA you can expect to receive a very useful cheque in refund of your bank account fees; and you will get a big chunk of interest on that amount too. WHAT a nice thought. Why don’t you give us a call and we will have a chat with you about starting your claim? Freephone: 0800 007 3777.