Here is some advice and guidance for you if you ever receive or are told to call Natwest / RBS collections.
I have just left working for Natwest / RBS collections and I am sure youll find this information very useful.
The aim of collections is to retrieve the monies that are owed by you if you go over your overdraft limit or if you account is dormant.
E.g. If your overdraft limit is £2000 and your current balance is £2500 collections is only concerned with getting you back to your £2000 overdraft limit and will try and get £500 off you.
E.g. if you have not used your account within 3 months it become dormant.
When you deal with a collections customer advisor they will ask you for an immediate credit or debit card payment for the outstanding excess.
Obviously you will need to pay back the money you owe to the bank to stop any long term legal action but here are some useful things you should know:
If you have a dormant account particularly students who have taken advantage of the interest free overdraft and subsequently not used the account since, the collections advisor will ask for the whole sum of the overdraft to be paid back immediately. You do not have to do this! To activate a dormant account (as long as you are within your overdraft limit) you can pay in as little as £5. So dont be forced into paying any large amounts a £5 payment will activate your account.
Another thing you should know is that each collections customer advisor is under pressure to hit their targets. They will negotiate any form of payment with you so they can put it in their deal chart. So when negotiating any payment plan or loan, use this to your advantage, this is how:
Each collections advisory can refund / waiver £114 worth of charges on 1 account as a gesture of good will or bank error. So for example if your overdraft is £1000 and your current balance is £1056 they will ask you for a payment of £56 and including any further charges may sum up to £80 for example. Now that you know they have £114 discretionary limit you can say to them if you refund me £114, I will then be prepared to make you a full card payment of £80. They will um and arr but they will agree because they need to hit their targets and any form of card payments is the most valuable target - In this example you have actually made £34 !!
There is allot more information I can provide but the above points are the most significant so if you have any questions please post and I will gladly try and answer them.
I do apologise to those customers I hassled and threatened; I did find my job uneasy and ultimately was one of the factors that led me to my departure.