MSE News: CONFIRMED - OFT gives up bank charges battle

Premier_2

victoriazoe wrote: »

as the bank took charges again this month even though i am in financial hardship then yes i worked all week for 2 pound a flippin hour . i have standing orders every fortnite but usuall i have no money in the bank as theve taken it again make any sense??????? no its a god damn out rage im living on pennys each week its not as if im flippin rothchilds..... heres a typical letterof statements from my bank ACCOUNT CHARGES FOR THIS MONTHO/DRAFT INTEREST£5.16 UNPLANNED O/DRAFT FEES £15.00 RETURNED STANDING ORDER £
1O.00 not much to some people but wen u earn £138 ur rent is £45 its quite a chunk eh ????

You haven't worked for £2 an hour; you've been paid much more but have had to pay for services you have been provided with.

Cancel your standing orders, then you won't incur the unplanned o/d and returned item fees when you don't have the cleared funds to pay them

Of course, this may mean you can't afford all the things you'd like, but with the money you save on bank fees, perhaps you could afford a few of them.

Edit: why are you only earning £138 for 30 hours?
A couple of months ago you said you were earning £145 (representing NMW of £4.83 for an 18-20 year old)
https://forums.moneysavingexpert.com/discussion/2451449

What have you done about the advice people gave you back then?

welshwomble

Do you not think it is time to take direct action against these rip off merchants?

I am on Pension credit and can not affford to donate my income to the Nationwide Buildng society.

I will be outside the Wimbledon Hill Branch on Monday morning at 10am should you wish to join me. Very un British but enough is enough

rickbonar

victoriazoe wrote: »

as the bank took charges again this month even though i am in financial hardship then yes i worked all week for 2 pound a flippin hour . i have standing orders every fortnite but usuall i have no money in the bank as theve taken it again make any sense??????? no its a god damn out rage im living on pennys each week its not as if im flippin rothchilds..... heres a typical letterof statements from my bank ACCOUNT CHARGES FOR THIS MONTHO/DRAFT INTEREST£5.16 UNPLANNED O/DRAFT FEES £15.00 RETURNED STANDING ORDER £
1O.00 not much to some people but wen u earn £138 ur rent is £45 its quite a chunk eh ????

If you don't own your house or have it on mortgage you apply for some credit cards .. sounds crazy doesn't it .... however if you got one or two you could draw all the money out stash it a safe place (panama, hong kong, costa rica make no further payments to any (british or european)bank ... declare bankruptcy ... do what the bankers do themselves :T

rickbonar

fc uk the banks

suzitiger

Hey everyone, I came on here for some help and advice but I am a bit afraid to ask now reading the comments on this page... Basically i have been charged alot of fees this year by my bank. I am on a very low income, and thankfully things are now looking up as i have become part-time self employed. What i am wondering is if i stand a chance of getting some previous charges back from when i was on a low income.
I was working 10hrs a week on minimum wage. I had to pay rent and bills out of this wage and often the fees were from direct debits that I felt i could not cancel as if I did I would then incurr fees from the other companies. The charges were often not in line with howe much over my overdraft i was and were more than one weeks wage for me each time.
I have tried explaining this calmly in branch and over the phone but they are having none of it. Is it time to step up the pace and write a letter? I think I would come under finacial hardship for this, but I am unsure. Any help and advice would be welcome, thanks so much.

rendyroo52

i tried to claim mine and failed not everyone can afford cost of living as its really high now and im too ill to work but not ill enough to claim dla can someone please tell me who i write to about reclaiming due to hardship

Premier_2

rendyroo52 wrote: »

i tried to claim mine and failed not everyone can afford cost of living as its really high now and im too ill to work but not ill enough to claim dla can someone please tell me who i write to about reclaiming due to hardship

Hi rendyroo52, and welcome to MSE :hello:

Have you read the items linked to in post #1?

Both items end with a link under Further reading/Key links which explains in full how to reclaim bank charges if you are in financial hardship

Rich66

I have considered writing to Nat West to claim a bank charges refund. In 2009 an unpaid item fee was 38.00 but by January 2010 it was reduced to just 5.00. To me that is a self admission that the fee was too high. Like other the charges in 2009 did not help one bit and I am now on a DMP.
So the advice I ask, are banks still paying refunds and the 33.00 difference is that a good basis for the claim in itself ?
Chances of success?
Thanks.

dunstonh

To me that is a self admission that the fee was too high.

It isnt. Any refund is a goodwill gesture.

So the advice I ask, are banks still paying refunds and the 33.00 difference is that a good basis for the claim in itself ?

The banks no longer consider complaints about "unfair" or "unreasonable" (or any words similar) bank charges. Nor does the FOS (and state as such on their website)

Rich66

Thanks dunstonh- I was thinking more on the lines of accepting that a charge was applicable just not at the rate of 38.00 and applying for a 'goodwill' payment of the diffrence. The argument that the rate has dropped significantly, being dropped in to add weight to the request.