Report Bank Charges successes and failures

[Deleted User]

Karennaz wrote: »

So do I send the template letter to the bank or just leave it and wait to see if they offer the charges back to me

Leave the template letter alone, the Bank already know you are in hardship. What you need to do is write telling them that you appreciated their suspending charges for a month, but this has only helped temporarily.

There really is no point asking for specific charges to be refunded, though, as they aren't obligated to give any refunds.

What you need to do is convince them of the severity of the hardship you are experiencing. You can probably best do that by requesting the Bank review your account. If this review means they see you are in a cycle of charges from which you cannot escape they may decide to suspend charges for a longer period or ask that you accept debt management. There are a number of options open to them and they have to be seen to be treating hardship cases fairly.

anthmack85

Hello,

Sent off the template, attached some medical evidence to show that my ill health had contributed to my financial hardship.. had a call... my charges totalled £2046 and they've offered me £404.

I don't think that this is very fair. I would like to ask for more, but I don't know if it is worth it - should I just accept it? I meet several of the points raised about what the ombudsman is willing to look at cases for. Any advice would be very well received! has anyone else challenged what was offered? I havent accepted it yet...

Cheers!! They're calling back on Monday/!

anthmack85

Did it work for you? Did they refund you in full or did they give you a partial offer?

dunstonh

anthmack85 wrote: »

Hello,

Sent off the template, attached some medical evidence to show that my ill health had contributed to my financial hardship.. had a call... my charges totalled £2046 and they've offered me £404.

I don't think that this is very fair. I would like to ask for more, but I don't know if it is worth it - should I just accept it? I meet several of the points raised about what the ombudsman is willing to look at cases for. Any advice would be very well received! has anyone else challenged what was offered? I havent accepted it yet...

Cheers!! They're calling back on Monday/!

Total of charges doesnt matter. A refund is a goodwill gesture from the bank and it one of the options available to them. Typically, most banks look at the last 6-12 months worth of charges when refunding.

It isnt a case of challenging the bank as there is nothing to challenge. It really comes down to the level of your financial hardship and how well you have managed to get the bank to understand your issues. Some people are short of money but not in hardship. So, it can depend on the issues involved.

If you feel the bank has not offered you more and you have good grounds (in your opinion) for more support then tell them. You can refer it to the FOS but the FOS cannot force the bank to pay anything. It can only ensure the bank has looked at your case fairly.

So, looking at your £2046 of charges, how much of that was charged in the last 6 and 12 months?

Karennaz

Hello
I did not send my letter because I wrote on here first to get some advice and was told that you did not have to do that any more as the bank knows that I am in hardship and have a problem working at the moment due to illness. and they have ceased charges for a month or two.So I left it at that
It does not help with the hardship with the bills at all it just carries on but what else can I do but except it at the moment and hope that things get better
If you have been offered a refund I say except what you can and if you think that you can get more I hope you do and Good Luck
Please keep us informed would like to hear how you get on
Best of luck

Karennaz

Hello
I did not send my letter because I wrote on here first to get some advice and was told that you did not have to do that any more as the bank knows that I am in hardship and have a problem working at the moment due to illness. and they have ceased charges for a month or two.So I left it at that
It does not help with the hardship with the bills at all it just carries on but what else can I do but except it at the moment and hope that things get better
If you have been offered a refund I say except what you can and if you think that you can get more I hope you do and Good Luck
Please keep us informed would like to hear how you get on
Best of luck

anthmack85

These were from the last 6 months.. i.e. £404. which, as you have mentioned is typical. Thank you for your reply. I think I am going to ask for a little more, i.e. a £1000 so just under half what I have asked for and see what they say.

If they don't accept, I think I will just have to accept what they originally offered, especially given that the FOS cannot force them to pay anything. Thank you very much for this! Will let you know how I get on.. they're calling on Monday to follow up, so hopefully they will look at it sympathetically!

[Deleted User]

anthmack85 wrote: »

I am going to ask for a little more, i.e. £1000

£1000 is a "little more" than £400????

You cannot request an actual amount to be refunded, any payment is a goodwill gesture which the Bank are under no obligation to pay. FOS only require that hardship cases are treated fairly and they can only truly get involved if your Bank charges were not applied correctly in accordance with their terms and conditions..

So it matters little how much you originally requested because that amount included historical charges which you won't ever get back..

Anyway, you certainly have nothing to lose by demanding more but don't be surprised if the Bank have already deposited the £400 in your account regardless of whether you "accepted" it or not..

Keya9

Why are Banks & Building societies allowed to charge existing customer higher interest rates on existing borrowing and not helping those customers who have outstanding credit card debts paying the minimum amounts by helping them pay them off?

Instead they write warning about the minimum payments when they themselves could offer to consolidate these debts in a structured way by offering a repayment plan with lower interest rates. The same is with the loans that they offer. These establishments are not treating their customers fairly and should be made to pay customers the difference back. This surely is against your human rights.
:mad:

Nasqueron

Keya9 wrote: »

Why are Banks & Building societies allowed to charge existing customer higher interest rates on existing borrowing and not helping those customers who have outstanding credit card debts paying the minimum amounts by helping them pay them off?

Instead they write warning about the minimum payments when they themselves could offer to consolidate these debts in a structured way by offering a repayment plan with lower interest rates. The same is with the loans that they offer. These establishments are not treating their customers fairly and should be made to pay customers the difference back. This surely is against your human rights.
:mad:

Banks are required to look at hardship cases if you make them aware of your situation and ask them for help, this might take the form of freezing charges or refunds of a few months worth of charges to help you get out of the cycle. Do note hardship cases will look at your spending patterns to confirm you are in hardship and not just living beyond your means (e.g. expensive pay TV / mobile contracts, eating out, shopping for clothes at premium brands).

Consolidation loans sound great in theory but so many people take the loan and either pay off the cards then run up the debt again (meaning twice as much debt) or just take the loan and waste it.

Approach your own bank for a hardship case, a consolidation loan where they pay off your debts and cancel your cards to stop you running up debt might help.

Oh and credit/loans are not a human right, they're a luxury