Overdraft Interest Charges!

geckogirlxx

Hi,

I was at university from 2005 to 2008. In this time, I told Halifax several times that I was a student and asked them to change my current account to an interest-free student account. On each occasion I was told the situation would be rectified as I was getting interest charges each month on my overdraft (which was the typical student account amount of £2600).

I graduated last year and the situation still hadn't been resolved. In fact it had got worse as the interest was taking me over my agreed limit, resulting in further charges each month on top of the interest charges.

Now I've managed to get my overdraft away from the limit but I'm still overdrawn and still being charged interest monthly. My issue is that over the three years I must have been charged hundreds of pounds in interest and hundreds more in bank charges.

I have wrote to the bank about reclaiming these charges but have been sent a copy of the standard letter saying that once the court case is resolved they'll look into it. I'm determined to get the interest charges back... and I'm just wondering if these would count as unlawful or whether I'd only be entitled to the bank charges that had resulted from going over my limit due to the interest charges? (I hope that made sense!)

Thanks!

stu1975

you can claim unauth overdraft interest as well

natweststaffmember

geckogirlxx wrote: »

Hi,

I was at university from 2005 to 2008. In this time, I told Halifax several times that I was a student and asked them to change my current account to an interest-free student account. On each occasion I was told the situation would be rectified as I was getting interest charges each month on my overdraft (which was the typical student account amount of £2600).

I graduated last year and the situation still hadn't been resolved. In fact it had got worse as the interest was taking me over my agreed limit, resulting in further charges each month on top of the interest charges.

Now I've managed to get my overdraft away from the limit but I'm still overdrawn and still being charged interest monthly. My issue is that over the three years I must have been charged hundreds of pounds in interest and hundreds more in bank charges.

I have wrote to the bank about reclaiming these charges but have been sent a copy of the standard letter saying that once the court case is resolved they'll look into it. I'm determined to get the interest charges back... and I'm just wondering if these would count as unlawful or whether I'd only be entitled to the bank charges that had resulted from going over my limit due to the interest charges? (I hope that made sense!)

Thanks!

Why did you use the template here? From your post it has been a clear bank error and you need to write exactly what has happened, how you tackled Halifax, what they said to you, and what occurred and the results of it and ask them to refund you the interest and charges that resulted from their error. Ask for a final response so you can take it to the ombudsman.

natweststaffmember

Paulo_Borges wrote: »

ya.. definitely.. in an over draft you are just liable to pay interest on the money that you have actually used and not on the overdraft limit that has been assigned to you..i am sure te court is going to help you out and you would get all your unnecessary charges reimbursed..

Mate, it's a bank error. No court will deal with a bank charges claim at the moment. He needs to go through the bank and the FOS if need be.