Report Bank Charges successes and failures

[Deleted User]

Kkirst089 wrote: »

why are the banks letting people go over their overdraft limit in the first place and do they not surely have to check people can afford it first?

You might equally ask why some customers spend more than they have available.

If you take an informal overdraft, you have to be prepared to pay a premium charge for this.

Instead of a futile attempt at trying to get a refund of charges for spurious reasons, why not ask the Bank if they will consider increasing your overdraft limit? Or you might also want to consider posting your SOA on the "Debt Free Wannabe" board. There are people posting there with a wealth of support and information about better budgeting etc.
http://forums.moneysavingexpert.com/forumdisplay.php?f=76

Kkirst089

Ok that answers some questions. As you may remember i did make a claim in october '15 for recent, alot smaller charges than i have had through the years and i did recieve a goodwill gesture. Hoorah! Yes i do take blame for how i have borrowed irresponsibly, I know when my bills are coming out but i just can't be bothered to cancel direct debits or call the company up as i know my 'over' overdraft will cover it ( or for some people an unexpected bill) so in essence that is how the banks make their money from these informal overdrafts, the availability. I think in the past they have been just as bad as the payday lenders, lending money to people who can't afford it and reaping the benefits of what would be interest but in the form of extremely high charges. But thats my opinion, thanks. P.s they will not increase my overdraft, go figure!

brokenhyperlink

Hi everyone

As the title says, I'm currently with danske bank as well as my friend. We are both in a very similar situation and both have financial difficulties. She called them up asking if there was any way of getting a refund on all the charges. They said no but she was able to get a refund of "£56 of fees pending for the end of May 2016 and £53 pending for the end of June 2016 as a gesture of goodwill to assist [her] with [her] financial difficulties at this time." She was wondering if that is basically game over or can she still send the letter or complain to the FOS?

Anyway I have the letter and was just going to send it to the main firm. How good do you think my chances are? From September to now I've had an income of £1,090 from EMA (I'm still in full time education) and the bank has charged £705 since then. I desperately need this money to start paying things for Uni and to pay back the money I owe my parents are well as rent that I've been meaning to pay. The overdrafts were caused by me taking classes since April and over the summer break there was no income so no money to pay for these classes and that's where this all started.

The fees have kept me in a cycle and hurt my current situation even more. I would have sorted this out sooner but I was scared and didnt know what these charges were for or what them meant. It wasnt until very reluctantly that I told my friends and family about the situation and this site and forum was brought to my attention.

dunstonh

As the title says, I'm currently with danske bank as well as my friend. We are both in a very similar situation and both have financial difficulties. She called them up asking if there was any way of getting a refund on all the charges. They said no but she was able to get a refund of "£56 of fees pending for the end of May 2016 and £53 pending for the end of June 2016 as a gesture of goodwill to assist [her] with [her] financial difficulties at this time." She was wondering if that is basically game over or can she still send the letter or complain to the FOS?

The FOS cant force the bank to refund charges. it can only make sure the bank has considered the case fairly. A refund is not the only option available to the bank. Suspending future payments for a period is commonly used and is fine. So, you have to consider whether the bank has considered the case fairly. And fairly does not mean getting what you want.

As to how likely an outcome is, it will largely depend on your spending habits. Large mobile phone bills, luxury spending, using branded items/shops etc will work against you. If there is an event that has caused hardship, then that works for you. Events tend to be unforseen events like death, illness or redundancy and not life choices. If it is just overspending and not living within means and building up debt then that works against you.

brokenhyperlink

So should she send the letter just to see how it goes? Kind of like a "better safe than sorry" "atleast I tried" approach since it doesnt hurt your credit score and persistence is key. I dont think that she's too happy about 70% of her income from the year was taken by the bank (which is obviously understandable) and she and a few other friends think that that's just the bank trying to get rid of her as quickly as possible.

Also this was basically what my money was going towards in a typical month where I got £120:
£78 or even more on charges, £29 for my class and then whatever money i had/needed for food and transport. I can't even afford to spend £20 a month on a phone bill which drives everyone crazy because I could be in a bad situation and have no way of contacting anyone and I tend to skip meeting up with friends whether it's just going out for a stroll or going to a bar because I would have no money.

[Deleted User]

brokenhyperlink wrote: »

. I can't even afford to spend £20 a month on a phone bill

I'm afraid not having a mobile phone is not in the Bank's definition of financial hardship. Neither is not being able to socialise with your friends in bars!

You do appear to be in a cycle of charges though, and I would expect the Bank to want you to have a Managed Account if you pursue further refunds of charges.

You'd be wise to visit your local Citizen's Advice Bureau and make an appointment to see a debt counsellor.

brokenhyperlink

Oh I didn't mean that to sound like "Oh look at me I cant afford some luxuries" I was just saying to dunstonh that I don't spend money on luxuries and big brands and I refused to do so. I meant it as in I have no money for myself after I use it for the essentials and sometimes I won't even have enough to cover for food and transport. But thanks, ill see about that.

I just don't know what I'm meant to be doing because I am only 19 and no one explained what any of this means to me and what to do if you ever get into this situation. I and I assume many other people are just thrown into the deep end but thank you all for helping me out.

ianinbot

My partner made a claim last week to Lloyds under the hardship route.

She had a call saying that since 2009 banks did apply fare charges and there was no complaint. the first letter was asking for information which I reminded my partner of, so had her call back to see if this bit of information had been overlooked.

twenty minutes later the same person rang back saying she was now concerned to hear of the difficulties and that she would look further at the case...great..

today she rang back again and said she was putting two letters in the post but that case was closed...

anyone else have an experience of such dithering please?

Kellmo80

I don't know if this is in the right forum or if you can help me?
My ex and I had 2 overdrafts with Barclays. When we separated he paid off one and said we would jointly pay the other off together. Naively I believed him and paid £20 dutifully each month.

I've been going through finances this week and thought I would query the £20 fee. It turns out he hasn't been contributing to this and the £20 has not even covered the charges on a £900 overdraft.

Basically, it's -£1,038 and all charges still apply. I made some calls and it turns out I have made £1700 of £20 direct debits over the last 7 years. I have never received any statements or correspondence about this account - if forgotten all about it!

I rang Barclasys today and an advisor wrote a letter to the complaints team to complain about the excessive, unfair charges and that I was in a cycle of charges. She briefly outlined the details of the account and my persona situation and I'm to hear back about the account within 5 working days.
Do you have any advice for me? I've technically overpaid £700 on this over 7 years.
I'm new to all these forums and it's mind boggling the amount of information!


Thank you in advance!

K x
P.s. It wasn't an additions account, just a big standard Barclays overdraft account.

[Deleted User]

Your ex-partner is at fault here, but the debt remains I'm afraid.

Why didn't you receive any statements during the last seven years? Are you, perhaps, at a different address and haven't informed the bank?

Why have you allowed a Barclays advisor to write on your behalf to the "Complaints Team"?
Are the words "excessive" and "unfair" your words or hers? The reason I ask this is that banks won their court case over "unfair" bank charges in 2009.

Probably best to simply wait and see how the Bank responds...