Bank Charges - illegal?

Stubbarama

ali82 wrote:

It is my intention to pursue my claim with the Financial Ombudsman Services and the Financial Services Authority.

Are you sure ? This is a lengthy process, and to be honest I dont think it will make any difference (at the moment).

You should be taking it to the county court at the earliest possible stage.

ali82

Intention, it does not need to get that far if they co-operate. I think I shows them that you serious and your prepared to take the necessary steps if need be (maybe I'm wrong but there no harm in saying it)

Kylie

I got £670 back from HSBC from 2003 to 2006 (I also added 14.9% interest on all charges - the interest rate they charged me for a loan I had with them seperately)

carlih1

Kylie wrote:

I got £670 back from HSBC from 2003 to 2006 (I also added 14.9% interest on all charges - the interest rate they charged me for a loan I had with them seperately)

Well done.

How far did u have to take it, and did they just accept the loan rate????

Carli

Kylie

I sent a letter asking for refund of charges. I mentioned "as a gesture of goodwill, I have applied the same level of interest to these charges as HSBC has applied to my Flexiloan".

They first refunded £200 (as a gesture of goodwill) and thought that was that...

So I pretty much sent the same letter and took off the £200 they had already credited me and gave them 7 days to refund.

They sent me a letter to sign to say that I agree not to take it further - which I did, and the rest of the money was put in my account immediately.

Matlow

Been reading througth the advice on this site,wonderful!
My reason for posting is this,I went £37 over over my £500 limit and wallop,unpaid D/D's one of which I had cancelled,plus £5 a day,with these charges come the end of the month I will owe them £823!!!
I realise now that maybe these charges are illegal,I've been hunting for a draft letter to send them but can't seem to find one,can anyone post a link to one for me
I tried phoning the bank spoke to the totally unhelpful debt recovery team who just said "borrow the money" which was really helpful,this all stemmed from a payment they made on my account which put me overdrawn in the first place,
Hope someone can help as I've just got myself out of debt and now am dropping straight back in.

Kylie

Whatever you do, don't panic. You can get it all back just by writing a couple of letters. Look through the past messages and you can pick up on items to include in your letters.

tempest42

Matlow
The site you want If you need more specific help, or pro-forma letters, spreadsheets for interest, or just want to see how everyone else is getting on with getting their cash back etc..., come over to the https://www.bankactiongroup.com forum.
As posted by dchurch24 earlier in the thread.

Matlow

Thanks guys,popped over there now,just worried they might pull the plug on the account,have another but don't wanna end up owing hundreds.

tempest42

Matlow,
I did feel the same as you and was very wary at first but if it ever happened to me I wouldnt think twice about following the same course of action, and the support you will get of the people on this thread is great. Trust me its well worth the effort.