Report Bank Charges successes and failures

[Deleted User]

fermi wrote: »

On BBC You and Yours today. Listen from 16mins 42s onwards

http://www.bbc.co.uk/programmes/b04gcdt8

Direct link: http://www.bbc.co.uk/programmes/p026k4ms

Interestingly, it starts off with the guy telling us how it all started. i.e. that he had a sudden and unexpected drop in income, spent £2.75 that he didn't have, which resulted in him being slapped with a hefty charge by LloydsTSB. This, he says, put him in a spiralling cycle of charges that was difficult to break out of.

Sounds like the sort of case that could normally be sorted out by following the MSE Guide to Reclaiming Bank Charges

2.The charges are disproportionate

If you unintentionally slipped over your limit by a few pounds and the charge is a lot higher than the ‘offence', eg, you go £1 over but are charged £35.

The FOS stresses these cases are not "black and white" and those who continually slip over their limit, while not in hardship, are unlikely to be successful

However, it wouldn't happen today with either Lloyds or TSB as they both have a £10 interest and fee free buffer zone.

orfoster

Alpine_Star wrote: »

I didn't say they would.


Remember that either party can seek leave to appeal any aspect of the judgment http://www.legalfutures.co.uk/latest-news/web-forum-drives-qsfirms-consumer-credit-growth

This is very true...

orfoster

Starline wrote: »

Direct link: http://www.bbc.co.uk/programmes/p026k4ms

Interestingly, it starts off with the guy telling us how it all started. i.e. that he had a sudden and unexpected drop in income, spent £2.75 that he didn't have, which resulted in him being slapped with a hefty charge by LloydsTSB. This, he says, put him in a spiralling cycle of charges that was difficult to break out of.

Sounds like the sort of case that could normally be sorted out by following the MSE Guide to Reclaiming Bank Charges



However, it wouldn't happen today with either Lloyds or TSB as they both have a £10 interest and fee free buffer zone.

Thanks, they asked for the story from the start, just a shame they were running behind and rushed a bit, anyway.

The issue for me was that in two months the charges were £330 and caused me to have issues with other creditors which I just found unfair on balance.

I sent no less than 11 letters to the bank in the end and some direct e-mails to the CEO using a website to search for it and this resulted in "sum" charges being refunded but only a small amount.

Aquamania

orfoster wrote: »

Thanks, they asked for the story from the start, just a shame they were running behind and rushed a bit, anyway.

The issue for me was that in two months the charges were £330 and caused me to have issues with other creditors which I just found unfair on balance.

I sent no less than 11 letters to the bank in the end and some direct e-mails to the CEO using a website to search for it and this resulted in "sum" charges being refunded but only a small amount.

Well here you have as long as you like to tell us your story.

So maybe you could start by explaining how, exactly, having 'spent £2.75 that he didn't have', and the bank lending you this money but slapping 'with a hefty charge', did that amount to £330 in just 2 months.

Unless of course you continued to spend money 'you didn't have'?

I have also listened to the interview and at one point you said something about clearing the entire overdraft (so presumably you were not in financial hardship at that point), but incurred about £80 of delayed charges that were applied in the following month (I accept charges are often applied the month following when they were actually incurred) and that if your wages didn't cover that charge the spiral starts again.

I'm not sure where you work, but surely anyone who is working (and/or otherwise is on benefits) gets more than £80 a month.
Or was this not your main bank account that you were using and spending money you didn't have?

(This is an importnat question where reclaiming on the basis of financial hardship is concerned)

Alpine_Star

Aquamania wrote: »

So maybe you could start by explaining how, exactly, having 'spent £2.75 that he didn't have', and the bank lending you this money but slapping 'with a hefty charge', did that amount to £330 in just 2 months.

Unless of course you continued to spend money 'you didn't have'?

I take it you've not read the judgment then?


''It does seem, however, that from about May 2008 the majority of the entries were debits directly relating to the increasingly overdrawn balance on the account, which, as Mr. Brennan has put it, resulted in a cycle of debt. Only when the Defendant voluntarily froze the account in May 2009 did the position crystallise by which date the account was in debit by over £1300.00 and it is undoubtedly the case that much of
that sum comprises charges upon charges.''

jaynesastar

Can anyone help. Over the last few years on certain occasions when I switch from my Summer and winter job (paid half of summer job) I always find my self struggling to pay my bills. I permanently live in my £1500 over draft and on a few occasions they have taken payments over my overdraft . I complained in April and they refunded me the charges however since then earlier in maybe may a direct debit came out for interest and took me over . They would not give me money back they just give me £100 more overdraft and said I had month to pay it back and then they changed my interest date to my suitable payday instead of middle of month when I have no money. I currently pay £100 towards my credit card which is natwest and my account is natwest to. Once I've paid that I want to start chipping off my overdraft however! Each month I'm hit with £18 debit interest And £6 overdraft usage . What is the debit interest? This is meant to me 0% overdraft I'm confused. Can I claim any charges for any of the years I've been in financial hardship

Sorry if grammar is shocking I'm in a rush :-p

Amazon1987

Bank: Lloyds
Amount claimed: £1248
What they paid: £1058

Literally cant believe it!!! And from 1 single letter!! Turns out that back in Feb 2010 my account was passed to their collections team in order to provide me with the right advice to manage my finances (they offered me a credit card), and the nice lady at Lloyds refunded 1 year of charges; £1007 , £50 as an apology and £1 for the stamp for the letter!!

Result!!!

Thanks MSE!!!

custardchris

Bank: Lloyds
Amount claimed: £999
What they paid: £595

I wrote to them last week using the template letter to reclaim charges dating back to 2011 and 2012, and interest, and they refunded all the charges from 2012 minus interest. Can't fault it really, as I didn't think I'd get anything.

Cheers!:beer:

brown1950

Alpine_Star wrote: »

I didn't say they would.


Remember that either party can seek leave to appeal any aspect of the judgment http://www.legalfutures.co.uk/latest-news/web-forum-drives-qsfirms-consumer-credit-growth

Yes and indeed i understand Oliver Foster Burnell (Claimant) has indeed
asked for leave to 'Appeal'
http://legalbeagles.info/consumer-to-appeal-bank-charges-ruling-even-though-he-won/

Also looks like this subject is gaining more publicity as this particular case is in the Daily Mail tomorrow.

hayleylwy

Hi
In July I used the template letter to ask for my TSB bank charges of £25 a month since 2007 to be refunded, I had a phone call at the end of July saying that they would NOT be refunding me, so I have sent the ombudsman letter off 1st August and I have still not heard has anybody else been down this route and has been successful