Bank Charges Reclaiming Guide discussion

-taff

Packaged bank accounts usually came with a reduced interest overdraft, so you'd have to factor in the extra interest you would have paid also.

Neastm39

Thanks for the reply, I appreciate the time and advice

The MSE link (last updated in August 2016) regarding claiming back old charges seems to say its ok if the account is closed etc and they have to look at it based on the fairness criteria.

I realise there's quite a few hoops to jump through but I pretty much tick every box mentioned on the 'who can apply section' so I appreciate the advice and the pointers but I'm going to have a crack anyway.

A shy kid gets no gravy n'all that

Nasqueron

Neastm39 wrote: »

Thanks for the reply, I appreciate the time and advice

The MSE link (last updated in August 2016) regarding claiming back old charges seems to say its ok if the account is closed etc and they have to look at it based on the fairness criteria.

I realise there's quite a few hoops to jump through but I pretty much tick every box mentioned on the 'who can apply section' so I appreciate the advice and the pointers but I'm going to have a crack anyway.

A shy kid gets no gravy n'all that

The MSE site often retains incorrect information

As above you are wasting your time putting in a complaint about unfair charges, the bank will see the word and automatically reject it with reference to the 2009 supreme court case which in effect ruled that complaints about unfair charges were invalid

Financial hardship cases work for current hardship, the banks have no obligation to look at old cases and especially not closed accounts.

Feel free to send the request, it will be bounced* as they have already told you.

*They might, if you're really lucky and don't go down the "unfair charges" route, send you a token "go away" sum.

dunstonh

Neastm39 wrote: »

Thanks for the reply, I appreciate the time and advice

The MSE link (last updated in August 2016) regarding claiming back old charges seems to say its ok if the account is closed etc and they have to look at it based on the fairness criteria.

I realise there's quite a few hoops to jump through but I pretty much tick every box mentioned on the 'who can apply section' so I appreciate the advice and the pointers but I'm going to have a crack anyway.

A shy kid gets no gravy n'all that

Just think about it logically for a moment. A bank you no longer have a relationship is being asked to make a goodwill gesture because of your current financial hardship. That bank decides to refund the last 12 months of charges (by far the most common outcome). How much have you paid in the last 12 months to that bank? zero as you do not bank with them.

Do remember that consumer sites tend to go over the top in encouraging you to complain. For example, the FOS (which is not a consumer champion site but an independent arbiter of complaints) states they will not consider unfair bank charge complaints. However, MAS (as consumer site) says it is still worth trying to reclaim unfair overdraft charges. It even says "If your bank refuses, you can always ask the Financial Ombudsman Service to investigate (for free)."

There is no rule that says they should not consider historic cases but there is no rule that says they should. The only requirement is that they look at your case and consider it fairly if you are currently in financial difficulty.

If you look at the four main options open to a bank if it agrees you are in current hardship:

1 - not imposing any further charges,
2 - rescheduling payments or charges to minimise the impact,
3 - stopping any debt enforcement action against you or putting you into a payment plan to manage any debts you have with it.
4 - refund recent charges

you will see that you cant apply them to accounts that have been closed for a long time.

lgreen42

TSB carry no liability for historic issues. Only current issues.

Reclaiming bank charges is over now. Its only CURRENT financial hardship cases or incorrect application charges (i.e. wrong amount or incorrectly charged) that are considered.

Is yours a current issue or are relying on out-of-date info that no longer applies?

Thanks for your advice... it is appreciated.
In a nutshell.. my husband and I have been together since before university (ie debt free) and since then have been in the ever deepening downward spiral of debt whereby we have always struggled in a peter-and-paul fashion and have paid a fortune in fees. We live in overdrafts permanently, are up to our eyes in cc, have 4 children, old cars, a small house, buy essentials and I've only just plucked up the courage to look into this. I am also doing my/our PPI, just started. I am going into this with an expectation of nothing back (we seem to be in a one-way relationship with our creditors), but have to give it a go as we desparetely want to be debt free. I have had the same bank account since 1992, when I started University. Having lost a parent recently who lived the same way, I have to break the cycle. Nothing ventured and all that.
Thankyou.

Nasqueron

lgreen42 wrote: »

Thanks for your advice... it is appreciated.
In a nutshell.. my husband and I have been together since before university (ie debt free) and since then have been in the ever deepening downward spiral of debt whereby we have always struggled in a peter-and-paul fashion and have paid a fortune in fees. We live in overdrafts permanently, are up to our eyes in cc, have 4 children, old cars, a small house, buy essentials and I've only just plucked up the courage to look into this. I am also doing my/our PPI, just started. I am going into this with an expectation of nothing back (we seem to be in a one-way relationship with our creditors), but have to give it a go as we desparetely want to be debt free. I have had the same bank account since 1992, when I started University. Having lost a parent recently who lived the same way, I have to break the cycle. Nothing ventured and all that.
Thankyou.

If you are in current financial hardship you should approach all your lenders for help and they are supposed to look at each case and offer help including options like freezing future charges etc

This site also has a helpful forum for people in your position offering tips on saving money and making it go further

http://forums.moneysavingexpert.com/forumdisplay.php?f=76

Browney86

Hi all.
I've had my Halifax ultimate reward package account now for I'm thinking nearly if not 10 years now. Obviously that far back I haven't kept my statements, but how I don't k ow but I remember changing my account because I wanted an overdraft at the time. I wasn't really given any options apart from this account. If I was eligible to claim back, would I need and how would i go about getting my statements from that far back. Thanks

-taff

You don't need statements, just make your complaint.

Browney86

Really!!!?

dunstonh

Browney86 wrote: »

Really!!!?

You dont need to tell the bank what they already know.

They will know the date you switched account/bought that account. They will know what their charges were. They dont need your statements.

You just make your complaint stating your reasons for complaint and supply any evidence you have that supports your allegations. They will investigate your complaint and if they agree with you, they will refund.