HSBC (merged)

Is it possible to claim back the interest charges as well or am I being overly optimistic here? And what about credit card charges - does the same process apply to those as to bank accounts? BTW for info - wrote to HSBC asking for 6 years of statements on personal and business account (both were closed a year ago) sending a tenner (didn't want to send them a cheque with new bank details on!) and they sent all statements PLUS returned the £10 note saying they don't charge for this!

You can claim back the interest charged on an UNAUTHORISED OVERDAFT. In theory you can claim it back on the interest on the charges, but it is extremely difficult to work out. You do however add 8% interest when you actually put your claim into court. Some people on https://www.consumeractiongroup.co.uk have added, and got compound interest. Credit Cards, catalogues and anyone else who has made charges have all been paying up. If you look on the above site, you will see forums for all the different banks, and also other institutions. You do need to register on the site. My advise to anyone is to read a lot of the threads from the bank forum you are interested in. It will give you the confidence to carry on when the banks try and tell you their charges are justified.

romanyrog wrote:

Hi everyone
Have just recieved a letter from hsbc with regards to my initial request for information on charges etc. They have stated that they will be sending copies of statements etc in seperatebatches is this usual or are they trying to buy time:beer:

That's OK to receive the statements in seperate bundles, as long as you get all of them (and within the 40 days limit set out in the DPA). It's not so unusual to receive them this way.

furndire wrote:

You can claim back the interest charged on an UNAUTHORISED OVERDAFT. In theory you can claim it back on the interest on the charges, but it is extremely difficult to work out. You do however add 8% interest when you actually put your claim into court. Some people on https://www.consumeractiongroup.co.uk have added, and got compound interest. Credit Cards, catalogues and anyone else who has made charges have all been paying up. If you look on the above site, you will see forums for all the different banks, and also other institutions. You do need to register on the site. My advise to anyone is to read a lot of the threads from the bank forum you are interested in. It will give you the confidence to carry on when the banks try and tell you their charges are justified.

Thanks very much for this reply. Has anyone tried to calculate the interest which a bank has charged for the UNAUTHORISED part of an overdraft? In fact I don't even know how much of it was authorised at any point in time so I don't think it's possible...
Also if I claim back charges from Barclaycard credit cards, can they close my Barclays current account?
Thanks a million to everyone who's providing answers and expertise!!