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NatWest PPI Claims – The Story
NatWest or National Westminster Bank, as it is officially called, was founded in 1968 following a merger between the century long established pair of National Provincial Bank and Westminster Bank. In doing so, NatWest became the largest retail and commercial bank in the United Kingdom.
Today Natwest finds itself as part of the The Royal Bank of Scotland (RBS) Group, something it has been since 2000.
With over 1,500 branches and over 7 million customers NatWest is a huge contender in the banking industry. NatWest’s famous three arrowhead logo is thought to represent the circulation of money in the financial system.
NatWest has long been considered as one of the ‘Big Four‘ in the UK banking industry, cemented by it becoming part of the Royal Bank of Scotland Group.
The Royal Bank of Scotland
The Royal Bank of Scotland Group owns banks across the globe, including Citizens Financial Group, the 8th largest bank in the US, and as from 2004 to 2009 RBS was the second largest shareholder of the largest bank in China.
It’s sheer size has ensured it’s prominence as a global player which has been of huge benefit, but has also led to the bank becoming embroiled in some very unsavoury business which has seen it receive huge fines for financial wrongdoings.
Whilst the group appear very particular when choosing which bank can become part of the group, they have not been so particular in who they generate their profits from, with it’s customers always being their first port of call.
The mis-selling scandal of Payment Protection Insurance (PPI) has seen the bank con BILLIONS from it’s customers. With mis-sold Packaged Bank Accounts following hot on the heels of PPI, it’s further evidence if needed that this banking group continue to treat it’s customers with sheer disdain.
Failings
On the 11th of January 2011 The Royal Bank of Scotland and NatWest where fined £2.8 MILLION for poor complaint handling by the Financial Conduct Authority (FCA). In particular mishandling their own NatWest PPI claims.
On February 6th 2013 RBS where fined £87.5 MILLION as they significantly failed to report misconduct in relation to the London Interbank Offered Rate (LIBOR).
More recently RBS took another hit from the FCA as they received a fine of £14.5 MILLION for failings in their mortgage sales.
These are just a few examples in the clear failings of the RBS Group, which includes Natwest. How many chances does this bank require?
Complaint Handling
NatWest PPI claims continue to flood in at a huge rate, and we are also seeing a steady rise in Natwest Packaged Bank Account Claims. Dealing with Natwest on a daily basis, we’ve become accustomed to dealing with various tactics they try to employ to try and wriggle out of paying compensation that is due, and there’s nothing we like doing better than beating the banks, it’s what we do!
NatWest PPI Claims – The Story
