Overdraft Charges

Star112

Can someone please help me i have been charged hundreds of pounds for going over my overdraft limit and once i sorted it out further charges were taken out of my account which made me over drawn again are they aloud to do this to me?

corgi22

yes it is whats known as daylight robbery. however the good news is that the government are in the middle of discussions at the moment as to whether this is morally allowed and also whether everybody is entitled to a refund for every charge they have incurred in the last 6 years. so watch that space!! only thing is until that happens, banks are reluctant to refund any charges unless it was their error that caused it. my advice is have a quiet week or month and PAY THE CHARGE. please dont let it snowball it will cripple you. i promise.

Star112

Thank you! this is the first time ive posted something this is a great way of gettin advice.. i am so upset i just graduated and cant beleive how they got me with these charges SAD FACE

ZiggyStardust_2

Have you opened another bank account that you can have any wages paid into so you have some money to live on? This happened to my hubby, ended up with over a £1000 in charges which we've obviously disputing! What bank is it?

natweststaffmember

corgi22 wrote: »

yes it is whats known as daylight robbery. however the good news is that the government are in the middle of discussions at the moment as to whether this is morally allowed and also whether everybody is entitled to a refund for every charge they have incurred in the last 6 years. so watch that space!! only thing is until that happens, banks are reluctant to refund any charges unless it was their error that caused it. my advice is have a quiet week or month and PAY THE CHARGE. please dont let it snowball it will cripple you. i promise.

When did the government start negotiations cos I missed that? We are currently in the middle of a legal case about the bank charges. Bank charges can be reclaimed since July 2001 since the 6 year clock stopped on the announcement of the OFT test case.
Which bank is it?
Are you financial hardship and have arrears on essential outgoings?

corgi22

re: natweststaffmember.
sorry i seen to have mislead somewhat. when i stated they are in 'discussion', it was simply a loose figure of speech! i have no idea how far these discussions had gone, not being in the trade! lol! could you please explain what you meant by they can be reclaimed since 2001 as i was told three weeks ago that i had no chance of claiming my first charge in two years back, as no bank considers this until a decision is made in parliament!!!! was i just being fobbed off then?

natweststaffmember

corgi22 wrote: »

re: natweststaffmember.
sorry i seen to have mislead somewhat. when i stated they are in 'discussion', it was simply a loose figure of speech! i have no idea how far these discussions had gone, not being in the trade! lol! could you please explain what you meant by they can be reclaimed since 2001 as i was told three weeks ago that i had no chance of claiming my first charge in two years back, as no bank considers this until a decision is made in parliament!!!! was i just being fobbed off then?

I would say you were talking to an idiot to be honest albeit, that was 3 years ago.
When the OFT test case was announced, alongside it came a Waiver on bank charges complaints. The FSA specifically built into it safeguards for consumers, for example, the bank cannot use the limitations argument for claims since the clock stopped or 6 years previous to 27th July 2007(which is where July 2001 comes from). Furthermore, compensatory amounts were encompassed within it as were preventative measures like "Full and final settlement of a claim" and closing accounts because you reclaim.
If you stopped your claim then re start it and as some football chants go "get into 'em......."