Can you reclaim OD arrangement fee?

choille

I wonder if it is possible to reclaim the fee the Halifax has charged to arrange for me to keep my overdraft. A £100 seems rather excessive to allow me to continue with an overdraft.

natweststaffmember

choille wrote: »

I wonder if it is possible to reclaim the fee the Halifax has charged to arrange for me to keep my overdraft. A £100 seems rather excessive to allow me to continue with an overdraft.

Is it personal or business account?

choille

Both accounts - my business & my personal account - thought I'd go through them both - seperately of course.

natweststaffmember

choille wrote: »

Both accounts - my business & my personal account - thought I'd go through them both - seperately of course.

Different rules apply, on the business the answer is NO, and on the personal account it is a yes if it is for exceeding the overdraft rather than renewing it.

choille

It was the re arrangement fee - basically they charged a £100 just for allowing the OD to stay the same.

I did think I would be able to reclaim charges levied on both accounts for the £30 imposed for going over my O/D limit - are you saying that I will be unable to do so on my Business A/C?

Many thanks for your advice on this one.

natweststaffmember

choille wrote: »

It was the re arrangement fee - basically they charged a £100 just for allowing the OD to stay the same.

I did think I would be able to reclaim charges levied on both accounts for the £30 imposed for going over my O/D limit - are you saying that I will be unable to do so on my Business A/C?

Many thanks for your advice on this one.

Even if the fee was for re arranging an existing overdraft then for business the answer is NO. If you have exceeded the overdraft yes you can claim charges but business account reclaiming will work differently to personal accounts since you cannot rely on consumer law for a business account,

choille

Many thanks for your help on this one.

I'll get the statements out & start going over both my personal account as I could do with getting some monay back to pay a tax demand - who'd be self employed? Still beats working! Joking as I've never worked so hard.

Cheers.

ronbelron

Hi choille,

I was recently succesful claiming back 528 pounds from natwest for my business account, i had paid over 1700 pound over 6 years and I wrote a letter of complaint about this to them in July 2009, 1 month later they wrote back and as an 'offer of goodwill' they agreed to refund 528 pounds!

This is now in my account.

So its worth a shot, will type a new post on this shortly.

regards,
Ron

choille

Thanks Ron - That's very heartening to hear - well done.

The banks have been so greedy. I'll definately try to reclaim for my business account as well as my personal account.

Many thanks for that.