Can I Reclaim Charges After Leaving Bank?

Danny_Vandal

I am on the point of leaving my bank, I think they are going to ask me to bank elsewhere because I haven't had sufficient funds in my account to cover some DD's over the last month or so. I have to go through a financial staement with them tomorrow and then they will make a decision. I have another bank account to go to so I'm not particularly worried about that but I do think that the fact that they will stop me using their services will automatically men that I am in hardship and will therefore get my reclaimed charges regardless of waiting for the courts to decide. Does anyone have any advice?

natweststaffmember

Danny_Vandal wrote: »

I am on the point of leaving my bank, I think they are going to ask me to bank elsewhere because I haven't had sufficient funds in my account to cover some DD's over the last month or so. I have to go through a financial staement with them tomorrow and then they will make a decision. I have another bank account to go to so I'm not particularly worried about that but I do think that the fact that they will stop me using their services will automatically men that I am in hardship and will therefore get my reclaimed charges regardless of waiting for the courts to decide. Does anyone have any advice?

Do you have priority debt arrears(mortgage/rent, council tax, utilities)?

Danny_Vandal

No, none although I am about to end a mortgage holiday in a month or so. I have a credit card with them and an overdraft which I am told will be converted into a loan if they decide to tell me to sling my hook.

natweststaffmember

Danny_Vandal wrote: »

No, none although I am about to end a mortgage holiday in a month or so. I have a credit card with them and an overdraft which I am told will be converted into a loan if they decide to tell me to sling my hook.

Which bank is it?
Have you put in a bank charges claim yet?
Are there any credit card charges or PPI?

delain

I want to leave barclays, and i am paying off debts for my electricity, water etc. can i leave them and reclaim my charges? (£88 a month since feb at latest) Plus i was on IS and child tax credit all that time.

Danny_Vandal

It's First Direct, I haven't put in any claims for bank charges yet, not sure what PPI is!

natweststaffmember

delain wrote: »

I want to leave barclays, and i am paying off debts for my electricity, water etc. can i leave them and reclaim my charges? (£88 a month since feb at latest) Plus i was on IS and child tax credit all that time.

you can reclaim them whether you leave them or not and I would get rid of the personal reserve which you have on your account.

natweststaffmember

Danny_Vandal wrote: »

It's First Direct, I haven't put in any claims for bank charges yet, not sure what PPI is!

First of all then, DO NOT BORROW MONEY to get out of debt(do not agree to any loan), addtitional borrowing does not help.
You need to start the process of reclaiming the charges back.

PPI is Payment Protection Insurance

Danny_Vandal

So, if they want to stop offering me banking services but I have an overdraft of £750 quid and an outstanding balance of around £5k on the credit card AND I refuse to convert these to a loan what happens then? Haven't had any PPI.

I take it I can follow the advice on this site to start reclaiming.

delain

natweststaffmember wrote: »

you can reclaim them whether you leave them or not and I would get rid of the personal reserve which you have on your account.

Is it likely to be successful? and can they chase me for whats in my 'reserve' when they keep me in it with charges?

I have opened a step account with natwest and another one for OH and i to pay into for the bills to come out so no more fees. Is this likely to work?

natweststaffmember

Danny_Vandal wrote: »

So, if they want to stop offering me banking services but I have an overdraft of £750 quid and an outstanding balance of around £5k on the credit card AND I refuse to convert these to a loan what happens then? Haven't had any PPI.

I take it I can follow the advice on this site to start reclaiming.

Well, you are charged interest on both. The question is do you think that a loan with a period of 5 years to pay it means you pay more or less than today? (Is the OFT test case going to take another 5 years???).