Claim back any unfair bank charges! Article Discussion Area

GrahamD_2

Feux_Verts wrote:

Consumer Action Group board seems to be offline.

I hope it's not the Banks trying some "dirty" tricks?

Anyone else not getting on to the board?

I was having trouble accessing the site - it could just be the sheer weight of traffic that this subject has generated. However it looks like you can get some useful (and presumably similar) information and documentation from the Which? website on this subject. They are looking at slapping ASBOs (Anti-Social Banking Orders) on all banks that overcharge on fees!

http://www.which.net/campaigns/personalfinance/bankingcharges/index.html

bookworm1363

Dottie_B wrote:

I notice a few comments concerning the possibility of the bank closing accounts where charges have been re claimed.

Is this likely with a credit card , or would the fact that you had an outstanding balance prohibit this ??

Not prohibit, but I would say it's unlikely, for this simple reason:
Even after you have reclaimed your charges, the credit card company will keep on making money out of you, with legitimate interest charges. If they shut you down, they lose that, so it's really not in their interest.

Furthermore, if they did close it down (and I haven't seen a single instance yet), they have a problem: Say you have a balance of x amount. They call in your c/c. They then become a creditor like any other, but significantly lower in order of repayment than essentials like utilities, mortgage etc... It mean you can then ask they freeze interest, then negotiate a repayment scheme of x pounds per month (and it only should be a payment you CAN keep up without causing you financial difficulties!) until debt is cleared off.

You see? Whereas as long as the card is still there, they'll keep on piling interest on interest on interest... REALLY really not worth their while, methinks. And they know it.

bookworm1363

Feux_Verts wrote:

Consumer Action Group board seems to be offline.

I hope it's not the Banks trying some "dirty" tricks?

Anyone else not getting on to the board?

Yes, the site is down at the moment, apologies to all. It's being worked on, and all will be well soon, I hope.

On the plus side, it gives me a chance to answer queries here, which I don't normally have the time, as I'm too busy there, lol!!!

bookworm1363

GrahamD wrote:

I was having trouble accessing the site - it could just be the sheer weight of traffic that this subject has generated. However it looks like you can get some useful (and presumably similar) information and documentation from the Which? website on this subject. They are looking at slapping ASBOs (Anti-Social Banking Orders) on all banks that overcharge on fees!

http://www.which.net/campaigns/personalfinance/bankingcharges/index.html

Mmmmhhh.... Any publicity is good publicity, I guess, but to be honest, I find the Which? approach far too wishy-washy, and some of the advice they give is downright dangerous. As a 1st step, they advocate talking to your bank "who might extend your o/d". Now, we all know that's a slippery slope...

They also advise suing OR going to the Ombudsman, which is a dead end, The Ombudsman can not and will not pronounce on the lawfulness of the charges. Even though they say that later on, it begs the question as to advising it anyway as a possible step to get your money back...

IMO, the ASBO is just a cheap media trick and amounts to nothing much...

divvy_2

Just had a 'discussion' with Alliance and Leicester about a £25 charge on my current account. On-line I'd set up a payment of a credit card bill (end of 0% offer -thanks Martin) covered by a transfer on the same day from an A & L savings account. But they run the debits first, then the credits, so according to that system I went overdrawn! So £25 charge. It took two phone calls and the threat to close my account before they 'exceptionally' reversed the charge. They advised me to pay in funds the day before to avoid charges. What a rip-off, though otherwise it's a good account.

nicsussex

Any idea when CAG site will be up and running again - need to send Lrtter Before Action to LTSB today as their 14 days has expired since initial request sent. Is there anywhere else i could get a copy of the LBA template?

yorkshirelass_4

Which Mag on line, also has all the letters to help you do this, you can download them all off their site, every letter is availble, from the first to taking your bank to the small claims court, here is the link http://www.which.net/campaigns/personalfinance/bankingcharges/index.html

http://www.which.net/campaigns/personalfinance/bankingcharges/whatyoucando1.html

hope this is of help to you all, I am certainly looking into it, I wouldn't be in half as much debt if it were not for the bank charges!

bookworm1363

nicsussex wrote:

Any idea when CAG site will be up and running again - need to send Lrtter Before Action to LTSB today as their 14 days has expired since initial request sent. Is there anywhere else i could get a copy of the LBA template?

I've pm'd you a template.

yorkshirelass_4

Just tried looking on the cag site myself, after reading what you had to say about the which site letters being wishy washy, but all I keep getting it technical problems, and it won't let me register. Anyone know when it will be up and running again??
Thanks in advance for any help!

bookworm1363

yorkshirelass wrote:

Just tried looking on the cag site myself, after reading what you had to say about the which site letters being wishy washy, but all I keep getting it technical problems, and it won't let me register. Anyone know when it will be up and running again??
Thanks in advance for any help!

No, I'm sorry. I've been told there's been in power cut in Manchester due to the weather, so out of our hands.

Just think: You'd said goodbye to all that money anyway, hold on tight, a few more hours won't make any difference. (I know, I know, it's hard when you're chomping at the bit! )