Financial hardship - Ulster Bank

Hopeful_in_NI

I have been reclaiming bank charges under the financial hardship rules and have an offer from Ulster Bank for £5764 going back 6 years from Sept 2003 to Sept 2009 for a joint account.

I have two queries:

1. Should I press for a refund of charges back to July 2001 6 years from date of the FSA hold?

2. The bank's policy is to lodge this to the accounts concerned. Is it possible to get this paid by cheque otherwise it will simply go to reduce my overdraft with the Bank?

natweststaffmember

Hopeful_in_NI wrote: »

I have been reclaiming bank charges under the financial hardship rules and have an offer from Ulster Bank for £5764 going back 6 years from Sept 2003 to Sept 2009 for a joint account.

I have two queries:

1. Should I press for a refund of charges back to July 2001 6 years from date of the FSA hold?

2. The bank's policy is to lodge this to the accounts concerned. Is it possible to get this paid by cheque otherwise it will simply go to reduce my overdraft with the Bank?

On question 2 the answer is no but will you be within your overdarft facility now as a result of the refund?
On question 1 I would ask for the details and can I ask if the amount was 100% of the charges you were reclaiming?

Hopeful_in_NI

1. The account is £400 over the £2800 overdraft limit and is but one element of £30k unsecured debt between my ex and I. I have read somewhere that with some effort RBS customers were able to have the recharges paid by cheque and not refunded. Is there any argument I can use?

2. The amount offered is £100 more than the actual charges I calculated for the period - when I queried they said their offer represented their calculation.

I'll ask for details of the charges applied to my account from 1 July 2001 to September 2003 and see where that gets me.