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Bank Charges - Fees Reclaim?
VRed1000
Posts: 4 Newbie
Hi, apologies this is my first post. I'm about to attempt to reclaim bank charges, am I able to reclaim Loan Arrangement Fees and O/Draft Arrangement Fees. I'm guessing not but thought I'd check as I've noticed I was charged £540 for an O/Draft, this seems shocking in hindsight!
Thanks
Thanks 0
Comments
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am I able to reclaim Loan Arrangement Fees and O/Draft Arrangement Fees.
You dont normally have loan arrangement fees and not many charge OD arrangement fees. Is yours a business account by any chance?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
No it's not a business account its a Natwest Private account.0
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If you overdraft is more than £7500 then there will be a fee involved in agreeing the overdraft. Can I ask if the loan was a Bridging loan?No it's not a business account its a Natwest Private account.0 -
Hi, it was an overdraft of £3,000. But I've just trawled through the statements and realised it was reversed a week later, phew.
On a similar note do you think I can reclaim Loan Arrangement fees on a natwest private account?0 -
Again the same question, was it a bridging loan? How long was the term of the loan over?Hi, it was an overdraft of £3,000. But I've just trawled through the statements and realised it was reversed a week later, phew.
On a similar note do you think I can reclaim Loan Arrangement fees on a natwest private account?0 -
Not a bridging loan at all just a 'standard loan' over 12 months.0
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The reason NWSM is asking the questions is that it isnt normal for personal loans from banks to have arrangement fees. Certain commercial or property related loans may do but the normal retail personal loan wouldn't.
Arrangement fees themselves are not necessarily things you can reclaim. In most cases you probably cant. So, it helps to know why you were charged and what it was you had.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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