Bank Charges Reclaiming Guide discussion

Wywth

broughs wrote: »

Morning all.
Just signed up for this forum.
I am currently putting together a case for reclaiming overdraft and returned item charges.
I was wondering if it is possible to include the interest charged by the bank on the overdraft as part of the claim?
Any advice greatfully received.
Thanks for your help.
Stewart

If basing your argument on financial hardship, then no.

If basing your argument on a legal basis, then possibly ... but it says no one has ever won such a claim for even the charges following the article so it's a rather moot point.

baggyann

Hi, I can see by the dates on these posts that I am a little 'outside the times'. I just thought I'd let you know I have just posted my letter reclaiming bank charges under financial hardship today

Here's hoping! I do appreciate it's a long shot but worth a go as Halifax will benefit from me repaying the two overdrafts at least with any money I get awarded.

I am currently in a DMP so it is in their interest. We'll see. like I said, I'm not naive, just hoping they see sense.

baggyann

I work in banking and believe these claims were deliberately back-benched while he PPI payouts take priority. Whilst most banks were being bailed out anyway the last thing they needed was to be paying these claims. I don't see the harm in putting it back out there and will keep you all updated, every step of the way!

Wish me luck guys xx

Enterprise_1701C

Just thinking about all this, but how far back can we reclaim charges for? We had a serious snowball effect on an account which gave us real problems, but it was a long time ago.

acwbob

i truely beleive I was missold package - didnt request medical details yearly & my car isnt registered in my name so breakdown cover doesnt apply BUT i have a hefty overdraught so i think i benefitted from a lower rate of interest on the borrowing. if i challenge my package could they refund me but then reacalculate my overdraught charges at a higher rate? Am terrified i could be worse off!

spegle

Hi, I have just joined this forum. I have looked at my bank charges and I am a bit confused. Can I only claim for returned item charges or overdraft interest as well?

Sorry if this question has been asked before as I haven't read the thread..

thank you very much

meer53

spegle wrote: »

Hi, I have just joined this forum. I have looked at my bank charges and I am a bit confused. Can I only claim for returned item charges or overdraft interest as well?

Sorry if this question has been asked before as I haven't read the thread..

thank you very much

What reasons do you have for making your claim ?

Unless you're currently in financial hardship, (and have proof of this) any claim will more than likely fail as the banks won the court case against unfair charges back in 2009.

spegle

meer53 wrote: »

What reasons do you have for making your claim ?

Unless you're currently in financial hardship, (and have proof of this) any claim will more than likely fail as the banks won the court case against unfair charges back in 2009.

I separated from my husband 3 years ago and I am single mum of 2 kids.. I am struggling to bay off my debts after the separation.. I think it is a good reason, isn't it?

dunstonh

spegle wrote: »

I separated from my husband 3 years ago and I am single mum of 2 kids.. I am struggling to bay off my debts after the separation.. I think it is a good reason, isn't it?

If you want to use the financial hardship criteria then you have to show you have arrears/defaults and/or are living on the breadline with no luxury payments being made (so no pay tv, mobile phone etc) and/or you are in a cycle of charges that you just cannot get out of.

You are totally reliant on the goodwill of the bank. So, you need them on your side. They will look at your bank statements to analyse your spending. So, make sure your statements back up the story you put to them.

Wywth

spegle wrote: »

Hi, I have just joined this forum. I have looked at my bank charges and I am a bit confused. Can I only claim for returned item charges or overdraft interest as well?

Sorry if this question has been asked before as I haven't read the thread..

thank you very much

As per the article:

Q. What charges can I try to reclaim?
We're talking about charges and related costs for going beyond your overdraft limit, or bounced cheques and direct debits. Traditionally these were about £35 per transaction, but can now range from around £5 up to £35....

You can ask for interest on the charges you are attempting to reclaim, but not interest on the overdraft itself.