Bank Charges - illegal?

mjanet

aliyah wrote:

thanks janet!

have responded with a reminder that the 30 day period elapses on march 30th -

watch this space............ :rolleyes:

Keep us up todate aliyah , I'm really interested in how you get on .Can't wait for the time you post that you got it all back , I'l deff celibrate for you.

mjanet

YorkshireBoy wrote:

'tellyerworraldowivyer' stated that the "banks certainly will not suffer too much". I believe that (at least) £3 billion/year is a significant suffering, so my question was simply "where is the lost revenue going to come from?"


It might be from fee-based banking, but I hope not because that would mean I would suffer with 80+ transactions/month through my current account.

It could come from Vanquis/Provident Finance type unauthorised overdraft rates, say 59.9% EAR. These would be lawful wouldn't they? Personally, I'd rather it was done this way because it wouldn't cost me any money - unless of course I availed of the facility.

Those are my initial thoughts as to how they could generate the lost revenue. What are yours?

I have not paid any bank charges for 4 years in anyway but I am putting in hours every week to stop these charges .I do not believe that my free banking should be at the expense of others .Some of the emails I have recieved are absoloutly heartbreaking and I for one can not sit here thinking "I'm alright Jack '' IF ( thats a big IF ) at the end of this we all pay fair and LAWFUL bankcharges then who amongst us can say that is not a fairer system ? Why punish and penalise people who usually are the least people who can afford it ?

mjanet

mountainofdebt wrote:

I'm ready to kick @ss .....I've had a really !!!!!! day at work - even hubby was gobsmacked at my day, so its not female hormones running wild! - and as I can't kick the cat..........

Having looked on the bankactiongroup website it gives the sort of wording that I need to put on the claim form but - and I finally arrive at the question I need answering ! - do I need to know the date hubby signed the agreement opening the account can I just say that he has a contract with the bank that is operated on their normal terms and conditions?

You can either phone the bank and just ask them straight when your account was opened or you can put in an aprox .

wilf55

i wrote to the hsbc and have been told that i will not be refunded with my bank charges therefore what do i do now...thanks in advance...same with rbs .....i will not be refunded

where now??

mjanet

wilf55 wrote:

i wrote to the hsbc and have been told that i will not be refunded with my bank charges therefore what do i do now...thanks in advance...same with rbs .....i will not be refunded

where now??

I'm not sure what letter exactly you wrote .If you know your charges and sent the preliminary request then next send the letter before action .Always stick to whatever time limit you gave them even if they have replied sooner.Letter templates are on https://www.consumeractiongroup.co.uk ( new address for BAG ).
I'm guessing they said it was because you agreed to their T&C's ,as this is a standard reply ? If they have said anything else then let us know .

hendersonb

I want to claim back charges from RBS but am scared to do so - I have a loan with them and a £500 overdraft, i'm scared that if I try to claim back charges (£260 in 2 months) that they will request me to close my account and want the loan /overdraft paid back immediately. My credit rating is poor (I found this out when I tried to open an account elsewhere). Scottish Gas said that I had defaulted in my previous address which I moved out of around 20 months ago - this appeared on experian about 3 months ago according to my credit file.

Narva

wilf 55 i have sent you a email.

tellyerworraldowivyer

My thoughts on where the lost revenue should come from are:
They should be happy with making a profit of a reasonable amount that doesn't look scandalous to the average customer who constantly gets ripped off whether they have had charges or not.
Was it August the base rate came down, I forgot to look!
This still doesn't excuse the cutting of some savings rates and the increase of some credit card and loan rates.
I am a bank shareholder and I am not concerned at all about falling dividends, that's sharedealing for you, if you expected year on year increased returns you would be very very lucky.

VeryTrying_2

hendersonb wrote:

I want to claim back charges from RBS but am scared to do so - I have a loan with them and a £500 overdraft, i'm scared that if I try to claim back charges (£260 in 2 months) that they will request me to close my account and want the loan /overdraft paid back immediately.

One way of looking at it is that if they refund only the £260 charges you mention, that's over half your overdraft settled. And perhaps they owe you some more as well (which would cover the rest)? I think they will allow the loan to run its course because you will both have agreed a loan period in advance eg 36 months. Also, I think that while you are disputing the illegal charges which form over half your overdraft they are not able to pass you on to debt collectors.

But don't listen to me - I'm not an expert on this and have only replied to your post because it seems to have been missed by those who know what they are talking about. You need some encouragement to carry on and not let the bankers frighten you into submission. I've just been following the thread in shock at the way the banks are treating people who are already in difficulties, but you can get some more help. Try the bank action group site.

Can anybody else give hendersonb a more helpful reply than I have? Please?

chipmunk

OK guys,

I heard about this forum from someone on another forum (totally unrelated) and since then I've been absolutely hooked! I've read every post on this thread from beginning to end and spent the last month going through my statements and waiting for some missing ones from Abbey which arrived yesterday. Just waiting for the ones from my other account with them to arrive now and then I'm good to go. Why, then, do I feel really nervous about taking the first step. :undecided

I have two accounts with Abbey, plus our mortgage, although tomorrow we make the final payment and the house is ours :dance: Mortgage free at 44 - that's a perk for marrying young :laugh:

I'm scared that, if I go ahead, Abbey will ask me to close my account with them (which I have had for years) and I have a £600 overdraft with them which I take advantage of every month. I'm worried that a new bank might not extend me the same size overdraft and, although I haven't incurred any bank charges for the last couple of years, I do need this overdraft!

Also, should I combine the charges on both my current account and my saver account into one request for repayment of charges or should I do each one separately, in which case, would I have to file two small claims actions.?

I was all fired up and absolutely certain I was going to make them give me my money back, but now I'm not sure what to do .......