Reclaiming Bank Charges - Is it a get out of Jail Free Card?

JohnR

// erk, forgot I was on my husband's laptop. Apologies, I'm Spirited

I accept that sometimes it has been purely mistakes and disorganisation on my part that has resulted in charges though, thankfully I haven't had many.

My husband was charged £90 in one month for breeching his agreed overdraft through Direct Debits. He had had the money sitting in another account as he had transferred it - the direct debits had been removed on the friday (due on a bank holiday monday) instead of the tuesday as he had assumed. OK, he could have been more careful.

What gets me is that he was charged 3 x £30 in penalties despite only recieving one letter (which presumably didn't cost any more to send than for one infringement). £90 could have fed us for the month, it's not as if it doesn't make a blind bit of difference, it also makes us more likely to go overdrawn the following month. (sigh)

Spirited_2

^ Sorry

southernscouser

Spirited wrote:

^ Sorry

I didn't want to say anything! After all this is the 21st century!

joseph_2

OK Here I go,

I dont know much about this as ive not had any charges in the last 6+ years but i had my share when i was younger and i hope i can put my post accross in the way its intended....

When i was young i got a loan for 2K over 2yrs for a car, but i drank most of the money and it took me 4yrs to pay it off, as you can guess i got charged a lot. Even if i could claim back those charges i dont think i would as i knew exactly what i was doing and what it would cost me in the long run but i was having a good time...... Maybe its because this is how ive incurred charges in the past and not had charges through overdrafts and bills just to keep living, that i feel people should pay them (Dont ask me how much but yes i know there not fair but what is a fair charge?)

If a bank pays a DD for you and its sends you in the "charge zone" you get charged. What if the bank just said no were not paying it, what could the company your paying the DD to, do to get the money? could they start charging you?

I read on here about someone who got there charges back (over 2K i think) which got them out of there overdraft, who then had a weak moment blew it all and was back a square one. Should they be able to claim the money for the new charges they are incurring?

The banks wont want to lose all the profits there making from this so the mortgage interest rates would creep up as well as saving rates creeping down.... This is bad for me with a mortgage.

I like coming here and hearing peoples stories for inspiration, and the support they get, to never let it happen to me again. But i fell there should be a forum for bank charge reclaiming as it seems that is being asked far more than people asking to become debt free (yes i know its part of being debt free)

Joseph

southernscouser

joseph wrote:

The banks wont want to lose all the profits there making from this so the mortgage interest rates would creep up as well as saving rates creeping down.... This is bad for me with a mortgage.

So your happy for us to get stung with illegal charges so you can have a cheap mortgage rate? :rolleyes:

Tell me how that is fair?

Why don't we turn it on it's head. Why shouldn't people pay higher rates of interest so people don't get charged illegal fees! :think:

I've got no problem with being charged a fiar amount. But it's the fact that you get penalised twice. Once for clearing a direct debit that takes you over your agreed limit then another charge for being over your limit coz they charged you for clearing a direct debit!

Broken_hearted

Erm I have a mortgage too. It didn't stop me claiming my charges back. As for savings accounts, the interest rates they pay are a joke.

joseph_2

Oh well i knew i should have kept quiet and that i would be shot down here. The problem with forums are that the same post can be read in many different ways, we are not face to face to air our opinions

"So your happy for us to get stung with illegal charges so you can have a cheap mortgage rate?"

Im not the one breaking my T's and C's

"I've got no problem with being charged a fiar amount. But it's the fact that you get penalised twice. Once for clearing a direct debit that takes you over your agreed limit then another charge for being over your limit coz they charged you for clearing a direct debit!"

I totally agree with you, but if the bank says to the DD receiver - sorry X has'nt got enough money to pay his bills so were not paying you. Are the DD receivers not going to start charging people? would'nt this cause bigger arguments?

I just wonder why its happening like it is? why is it not being sorted once and for all by the powers that be?

southernscouser

I'm not shooting you down but it's the banks that are breaking the T&C's. Ask yourself why they are paying out all these refunds if they aren't at fault? Also ask yourself why the office of fair trading have judged these fees aren't fair!

I totally agree with you, but if the bank says to the DD receiver - sorry X has'nt got enough money to pay his bills so were not paying you. Are the DD receivers not going to start charging people? would'nt this cause bigger arguments?

Well this is what I don't understand. Say Egg Card want to collect a DD from my account and I don't have the money and Natwest refuse it, why is it that Natwest profits from this? Egg are the ones who are losing out yet the banks are making a profit off of Egg! Why does it work like that? Doesn't seem fair to me.

joseph_2

I Agree,

And until the law is sorted out, its joe public that ends up taking all the sh@t. The people who are supposed to be represented by the polictical system. Im off home its been a long day.

southernscouser

joseph wrote:

I Agree,

And until the law is sorted out, its joe public that ends up taking all the sh@t. The people who are supposed to be represented by the polictical system. Im off home its been a long day.

Excatly which is us and why we are fighting back! Surely you can't blame us for that!