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Topic: bank charges (Read 4003 times) |
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taliban aka Cheekyboy2
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bank charges
« on: Mar 30th, 2008, 9:17pm » |
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anyone here claimed back their bank charges?
i checked my statement the other day and noticed a bit saying they are charging me £150 for going over my overdraft limit. naturally i phoned them none to happy  but didnt get much help, they just offered to give me a loan or credit card (to ensure im tied to em  ) so i thought whats all this about claiming back charges; had a look on the net and theres plenty of companies etc doing no win no fee, i reckon over a 6 year period i've paid around £2,200 so worth a look i think...
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pete from Hull
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Re: bank charges
« Reply #1 on: Mar 30th, 2008, 10:36pm » |
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on Mar 30th, 2008, 9:17pm, taliban aka Cheekyboy2 wrote:anyone here claimed back their bank charges?
i checked my statement the other day and noticed a bit saying they are charging me £150 for going over my overdraft limit. |
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Hi Tali
We have had our banking for about the last 20 odd years and never had to pay bank charges, we have a hundred pound o/d facility to accomodate fluctuations in payment dates. We always pay everything on direct debits, cheques or credit and debit cards, the balances are always paid each month.... Our Bank makes nowt off us...
Quote:
doing no win no fee, i reckon over a 6 year period i've paid around £2,200 so worth a look i think... |
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"No win no fee", these companies rely on people going over limits on o/d's and accumulating "bank charges"
Best bet is to keep up with payments, clear all balances and watch the deadline dates on DD's.... 
Only my opinion 'cos it works for us...
Hope you get it sorted...
Pete
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taliban aka Cheekyboy2
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Re: bank charges
« Reply #2 on: Mar 30th, 2008, 11:00pm » |
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the thing is my bank has always charged me for the overdraft facility full stop let alone the additional charge for going over that. looking through the various websites on it the latest court ruling says bank charges must be relevant to the cost to the bank, hence people being able to claim back such inflated charges. i was going to do it all myself with the help of a couple of sites that set out what you need to do etc but its still time consuming. theres a lot of sites doing the no win no fee thing, the cost seems to average between 10-20% though i have found one that just charges £250 whatever the amount won.
they are also doing it for credit card payment protection charges etc....
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sector-9
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Re: bank charges
« Reply #3 on: Mar 31st, 2008, 11:50pm » |
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I tried claiming my charges back last year,went as follows:
1. I request a list of all the charges they have applied in the last 6 years.
2. They send me about a million copy statements. I go through them all and highlight each charge.
3. I write and tell them they owe me ££££ paid out as unfair (read: unenforceable) charges
4. They write and say it's all in the terms and conditions, blah, blah, blah, not paying up
5. I write and tell them I want it all back or I take them to court and bill them for the privilege. Gave them 14 days to respond
6. They say they'll investigate and it could take up to 8 weeks
7. I file a claim in the small claims court - cost me around £85 and I add that to what I'm claiming. They have 28 days to enter a defence.
8. On day 28 they enter a defence disputing the charges are unfair. They also write to me and offer half the amount as a goodwill gesture.
Now I was quite prepared to take them to court and try getting it all back but a few days after receiving the offer it appeared that the courts were pausing all open claims until the outcome of a test case had been decided (due Feb this year). I decided not to wait and risk losing it all if ruling in favour of banks so I accept their offer.
The question you have is whether the test case happened and what the outcome was - that'll decide whether there's any chance of you getting your money back...
Darren
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taliban aka Cheekyboy2
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Re: bank charges
« Reply #4 on: Apr 1st, 2008, 12:01am » |
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cheers for that darren, it seems most people that went as far as you were offered half/two thirds of the claim, but those that went further seem to have got everything back (always a gamble), i'll look up that test case.....
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wayne
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Re: bank charges
« Reply #5 on: Apr 1st, 2008, 9:15am » |
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Haven't done it myself,, but if you're doing research this page may be of help.. it has template letters and charge calculators n stuff 
http://www.moneysavingexpert.com/reclaim/bank-charges
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taliban aka Cheekyboy2
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Re: bank charges
« Reply #6 on: Apr 1st, 2008, 10:01pm » |
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oooooh the test case is still in court......
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amigafan2003
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Re: bank charges
« Reply #7 on: Apr 8th, 2008, 10:09am » |
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Complaining about bank charges when you go overdrawn is like complaining about getting caught speeding - no one else to blame but yourself.
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cossie_al
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Re: bank charges
« Reply #8 on: Apr 8th, 2008, 11:50am » |
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Think you miss the point amigafan,
Its the highly inflated amount of the charge and not the charge itself thats questionable.
My bank charges £38.00 for a missed direct debit or unauthorised overdraft, surely nobody can agree that it costs the bank £38.00 for not paying a direct debit and sending you a letter telling you so.
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Scorpio_Mike
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Re: bank charges
« Reply #9 on: Apr 8th, 2008, 12:08pm » |
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I have a pre-arranged o/d facility and only pay £5 to use it provided I don't go over the limit.
Not used it in almost 20 years 
The high bank charges are usually for un-authorised overdrafts.
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taliban aka Cheekyboy2
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Re: bank charges
« Reply #10 on: Apr 8th, 2008, 9:54pm » |
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amigafan you are totally ignorant of the situation and maybe you'd do well to get the correct facts before slating the thousands of people who are in the process of suing banks etc; theres nothing wrong with banks charging, its in account contracts, but as the law states if its a charge it must be that and the amount relevant, no one has a problem with that, what is a problem and illegal is when the charges are so high they are a fine.
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pete from Hull
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Re: bank charges
« Reply #11 on: Apr 10th, 2008, 9:26am » |
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http://www.moneysavingexpert.com/reclaim/credit-card-charges
Hi all, i just found this item that may be of use in this matter.
i would be interested if it has any credability...
Best of luck
Pete
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amigafan2003
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Re: bank charges
« Reply #12 on: Apr 10th, 2008, 3:30pm » |
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Quote:| My bank charges £38.00 for a missed direct debit or unauthorised overdraft, surely nobody can agree that it costs the bank £38.00 for not paying a direct debit and sending you a letter telling you so. |
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Personally, I find the £5000 fine you get for drink driving to be excessive.
Not that I could care less as I simply don't drink and drive. Does that make my point clearer? The charge isn't there to recover costs, it's there as a deterrent. Maybe the banks should call it a fine rather than a charge (alot of legal framework hoops to go through there though).
Banks are a private company and frankly I find it ludicrous that Nanny has imposed this restriction about charges on the banks. As I said before - there's an easy way to avoid paying bank charges.
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taliban aka Cheekyboy2
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Re: bank charges
« Reply #13 on: Apr 10th, 2008, 4:26pm » |
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amiga, its obvious there is absolutely no point in me explaining to you again, or even explaining it differently, you failed to grasp the question which was quite simple so you obviously are unable to grasp any explantion, you cant make your point clearer quite simply because you dont have one, how you can compare drink driving which directly threatens other peoples lives with banks illegally fining (which is not a loophole and never has been) customers isnt ludicrous, it isnt even funny or slightly amusing, it is the same pattern of thought as the rest of your reply...pointless, with no correlation whatsoever to the question.
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amigafan2003
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Re: bank charges
« Reply #14 on: Apr 10th, 2008, 9:58pm » |
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taliban aka Cheekyboy2, sorry, I was actually kind of agreeing with you in my last post.
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taliban aka Cheekyboy2
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Re: bank charges
« Reply #15 on: Apr 10th, 2008, 10:16pm » |
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were ya!?? well you got me wound up a good un there, i feel guilty now....................not
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amigafan2003
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Re: bank charges
« Reply #16 on: Apr 11th, 2008, 9:12am » |
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Yeah, when I said if they called it a "fine" rather than a "charge" then there would be no confusion.
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sector-9
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Re: bank charges
« Reply #17 on: Apr 11th, 2008, 8:55pm » |
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on Apr 10th, 2008, 3:30pm, amigafan2003 wrote:
The charge isn't there to recover costs, it's there as a deterrent. Maybe the banks should call it a fine rather than a charge |
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And that's the whole reason the courts have been ruling against them - it is illegal for them to charge a penalty/fine/deterrent for failure to abide by your contract. They can pass on any costs they've accrued as a result, but no more.
You may have noticed that since people started reclaiming their "fines", the banks have been quick to ammend the terms and conditions to rephrase penalty charges as "service charges" - for which they're entitled to charge what they like. Just like you're entitled to charge them £10,000 for not disclosing that they settled out of court...
Darren
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TiberiuS
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Re: bank charges
« Reply #18 on: Apr 11th, 2008, 9:18pm » |
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on Apr 10th, 2008, 3:30pm, amigafan2003 wrote:
Personally, I find the £5000 fine you get for drink driving to be excessive.
Not that I could care less as I simply don't drink and drive. Does that make my point clearer? The charge isn't there to recover costs, it's there as a deterrent. Maybe the banks should call it a fine rather than a charge (alot of legal framework hoops to go through there though).
Banks are a private company and frankly I find it ludicrous that Nanny has imposed this restriction about charges on the banks. As I said before - there's an easy way to avoid paying bank charges. |
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Yeah, that's all well and good if you have the sort of wage where you can live and pay your bills these days without going overdrawn..
The banks know this and hence the high charges, a bit like speed cameras on quiet roads out of hours, chips in recylcing bins, parking meters in hospitals if you want to draw parallels.
I'm off work again at the moment (personal reasons) but even when I'm lucky enough to be working full time there's little left by the time stuff like the council tax and gas bills are cleared..
Sorry, but I find the above comment really, really short sighted
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amigafan2003
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Re: bank charges
« Reply #19 on: Apr 14th, 2008, 1:44pm » |
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When I left college, I lived on what is now the equivalent to the minimum wage for two years - never needed an overdraft nor a credit card nor a loan and paid all my bills on time.
Then again I didn't have luxuries like broadband, mobile phones, sat tv, a car etc.
If the washer broke down, I washed the clothes in the sink until I had saved enough for a new machine. If the fridge broke down, I bought food that didn't need to be refrigerated. if I needed to go online for something, I went to the library.
We're all so used to having the "luxuries" nowadays that if we don't have them, we beg, steal (which as far as I'm concerned, spending money you don't have - i.e. an unauthorised OD, is) or borrow to get those items.
I have an S reg Scorpio Cosworth, building a Westfield, a 3 bed semi, new fitted kitchen, £4k gaming computer, 42" TV and you know what, the only loan I have is the mortgage.
This may sound rude, but don't give me this rubbish about "needing" and overdraft - absolute tosh in my opinion.
And if I ever lost my job, I'd cancel the broadband, the satelite, the mobile phones, the car would go into storage, car ins would be cancelled, tax refunded, light bulbs taken out, heating turned down etc - I could quite happily manage until I found another job, even if that took 5 years.
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