Bank Charges Refunds

[Chesney Christ]

Like a lot of people have been doing lately, I wrote to my bank on the 15th November asking for a full refund of all my charges in the last six years but got no response.

I sent another letter on the 5th of this month but still no response.

How long do you think I should leave it before threatening to pursue action through the small claims court? How have other people got on with this? Have banks got wise to it now or something.....?

 

[H2O]

www.bankactiongroup.com was given this address the other day might be of some use

 

[Commander]

Like a lot of people have been doing lately, I wrote to my bank on the 15th November asking for a full refund of all my charges in the last six years but got no response.

I sent another letter on the 5th of this month but still no response.

How long do you think I should leave it before threatening to pursue action through the small claims court? How have other people got on with this? Have banks got wise to it now or something.....?

I sent mine a couple of months ago but still no response. Keep meaning to wirte another one.

 

[sparkie]

It's quite possible that if you do this the bank will be spiteful and close your account. Not a big deal, you can always get another, but just a bit of hassle.

 

[Cian]

It's quite possible that if you do this the bank will be spiteful and close your account. Not a big deal, you can always get another, but just a bit of hassle.

And is that actually legal in the UK?

FSRA don't allow anything of the sort here.

 

[sparkie]

It's happened to a few who've got their bank charges back already. I don't know if anyone has challenged it legally.

 

[Chesney Christ]

It's quite possible that if you do this the bank will be spiteful and close your account. Not a big deal, you can always get another, but just a bit of hassle.

Yeah, I heard about that happening. Would it be affected by the fact that I have an overdraft though? Surely if they were to close my account they'd have to pay off the overdraft?

 

[Wardy]

Yeah, I heard about that happening. Would it be affected by the fact that I have an overdraft though? Surely if they were to close my account they'd have to pay off the overdraft?

Though they could just wait until after you are paid and tell you that they have cancelled your overdraft. Either way they can bill you for the overdraft and if you do not pay send in the bailiffs.

 

[Cadiz Seagull]

BBC2, the Money Programme, 10pm tonight (Tuesday)

 

[surrey jim]

BBC2, the Money Programme, 10pm tonight (Tuesday)

can u see the money programme on BBC.co.uk at a later date like top gear

 

[steve-c]

we wrote to the bank( woolwich), took a couple of weeks for a letter to arrive telling us that they were referring it to a different department, we wrote back saying itt was just a delaying tactic, and we wanted a reply in 7 days. we then got a letter saying although they disagree with our claim they would pay us back £150 , we worked it out we had only paid out about £170 in charges so not a bad return.

 

[beorhthelm]

what is this cobblers? maybe they dont have to pay back your charges, dont want to and just dont want to waste the time of a responce?

 

[Timbo]

what is this cobblers? maybe they dont have to pay back your charges, dont want to and just dont want to waste the time of a responce?

They legally have to pay back your charges.

You can't just write to them asking for them back though, they'll just ignore you. Go through the proper channels of a legal claim. It'll probably take you a couple of months but you'll get the lot back.

 

[Lawro's Lip]

I know this has been mentioned on here before but is worth a visit if you are planning to reclaim bank charges.

http://www.moneysavingexpert.com/


This site gives you all the information on getting your money back + template letters to send.

Helpful for lots of other financial and money saving info too.

 

[Kylies Stunt Arse]

I wrote to my bank using the letters from a website that was on here originally. I had a reply saying that they would send me a detailed response within 4 weeks, which they did. They offered me just over half of what I was claiming, which I took.

I still have an account with them, although I have not been in credit since then either so they can't close it on me.

 

[fatbadger]

Another place you can find information:

http://www.consumeractiongroup.co.uk/

I'm currently in the middle of claiming mine back.

 

[beorhthelm]

well i think its all a load of bollocks. this thing has built up from the OFT "opinion" that fees are too much, and has been turned into the idea that all fees are unlawful? they been charging the same (or fact more relativly) for decades. one of the links mentions contract law but the clause there is only applicable if you break a contract, but by overdrawn you aren't breaking any contract, just changing to higher set of tariffs.

does it not occur to you that it does cost them x amount to process somthing, and also does noone concider the fine/dont do it again aspect of the fees?

I know lots of people think its unfair that banks make money from peoples financial misfortune. But i like the fact that i dont get charged monthly just to have the privilege of leading them my salary. i hope you enjoy banking in a couple of years time when going overdrawn doesnt mean a £30 fee anymore, but closing of your account.

 

[fatbadger]

does it not occur to you that it does cost them x amount to process somthing, and also does noone concider the fine/dont do it again aspect of the fees?

You're missing the point - the OFT has concluded that the Consumer Contracts Regulations 1999 forbids the use of punitive fees. The bank must show that all of its fees cover costs. Anything else is punitive (or, as you put it, 'the fine/don't do it again aspect') is illegal.

 

[beorhthelm]

You're missing the point - the OFT has concluded that the Consumer Contracts Regulations 1999 forbids the use of punitive fees. The bank must show that all of its fees cover costs. Anything else is punitive (or, as you put it, 'the fine/don't do it again aspect') is illegal.

this is the point im trying to raise. the OFT concluded (on credit card charges, not current account btw, its on money programme right now). so what. have they changed the law to reflect this? have they imposed a penalty on the banks or used other regulation? not yet. they've threatened and the banks have made noises on the credit card front. they will charge us all for banking, and quite heavily, if this applied to current account charges.

The effort being expended here should be put into curtailing the excesses of bank charges, so they dont send you half a dozen or more overdrawn letters for going £1 over. thats the problem, not fees per se.

EDIT. having seen the program, i understand a bit more. some people have been charged £'000 in fees But the banks are using the argument that they are fees for a service, and i can see them getting a lot of mileage there. seems that right now they are paying out if pushed so it doesnt go to court. New OFT investigation (into Current Account fees specifically) will resolve it.

 

[jevs]

Banks are legally required to reply to you within 40 days. The info you ask for will cost you £10 so send a cheque to them with the original letter.

Don't give up.....hundreds of people are getting their money back.