Bank Charges Reclaiming Guide discussion

edited 10 June 2010 at 4:34PM in Reclaim Bank & Credit Card Charges
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  • NasqueronNasqueron Forumite
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    Hi, when your saying that your claiming money back from your bank...it is over draft charges isn't it?
    My boyfriend has lived in his over draft for over 10 years and pays £40 a month to have it. He's stuck in a vicious circle now and can't get out of it. He's resulted in payday loans and credit cards. He doesn't have any household bills to pay as he's back with his parents now. But he has debts to pay off.

    Do you think he has a chance to claim some money back? Or at the very least stop the £40 a month for a bit so he can try to get back on his feet?

    Thanks :)

    Do note you do not claim back charges, the bank will reject such attempts if they think it's an "unfair charges" type aproach

    He needs to apply to the bank's hardship team to have his case looked at. If he's genuinely in a cycle of charges they will help (e.g. a refund of charges, freezing future charges etc) bu do note they will look at his spending so if he's claiming hardship but has say sky tv bills, eating out etc i.e. causing the hardship, they are not as sympathetic

    Point him to the Debt Free forum below where a determined person can post a statement of affairs for his monthly spend and see where he can rein in his spending.

    http://forums.moneysavingexpert.com/forumdisplay.php?f=76
    the concept of a United States of Europe is right.” Winston Churchill 1930
    I think that the Government are right to apply to join the European Economic Community...” -Winston Churchill 1961
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  • I was wondering before I dig any further if I can claim back my monthly business bank account charges on an account I've held since 2010. I have had no overdraft facility throughout this time, and the charges are for the day to day running of the account. I am on the brink of closing down, and am looking for a way to get me over this hurdle.
  • [Deleted User][Deleted User] Forumite
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    whammy wrote: »
    I was wondering before I dig any further if I can claim back my monthly business bank account charges on an account I've held since 2010. I have had no overdraft facility throughout this time, and the charges are for the day to day running of the account. I am on the brink of closing down, and am looking for a way to get me over this hurdle.
    On what basis do you expect to have a refund of charges attached to a business account?

    I doubt you'll get anywhere arguing your business is currently struggling
  • dunstonhdunstonh Forumite
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    whammy wrote: »
    I was wondering before I dig any further if I can claim back my monthly business bank account charges on an account I've held since 2010. I have had no overdraft facility throughout this time, and the charges are for the day to day running of the account. I am on the brink of closing down, and am looking for a way to get me over this hurdle.

    Being in business, you will know that you charge people for things they buy from you. Why do you think your bank should charge you nothing?
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • I have had current accounts for years! getting little useless bits n bobs as incentives to have the accounts.
    but not till recently did I realise that there is a free option.
    I always thought I had to pay!
    The current account I'm using now I get full road side assistance with free flag n travel insurance I have used these and its worth while as the numbers add up price for price so I don't want to loose these.
    but can I clam for the old Current accounts (all with natwest bank)
  • dunstonhdunstonh Forumite
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    BryanWal wrote: »
    I have had current accounts for years! getting little useless bits n bobs as incentives to have the accounts.
    but not till recently did I realise that there is a free option.
    I always thought I had to pay!
    The current account I'm using now I get full road side assistance with free flag n travel insurance I have used these and its worth while as the numbers add up price for price so I don't want to loose these.
    but can I clam for the old Current accounts (all with natwest bank)

    This thread isnt about that subject. However, from what you have said, you appear to have no grounds for complaint.

    You are also likely to be barred from complaint. You have 6 years from the point of sale and 3 years from being reasonably aware of an issue. Account closure can trigger the 3 year rule. (both the 6 AND the 3 year rule need to be satisfied for them to bar complaint. i.e. more than 6 years ago when opened and more than 3 years from closure.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • savo456savo456 Forumite
    6 Posts
    hi all, first post for me but long time reader of Martin's emails...


    I have recently become aware of the wife's difficulties with her bank (from before we met and married) so have been trying help her out.


    In the last 6 years (only data available) she's had some £3,200 in bank charges. This is for returned DD's, being overdrawn and using a reserve facility in the overdraft. This overdraft is £3,000 with the reserve being £500 of this.


    In that same period she had to take out other forms of credit to make ends meet. These loans totalled over £13,700 - she made the minimum on all these and has cleared these successfully. She also has had two credit cards with a value of £10,700 and again made at least the minimum on these. the cards have now been cleared as I have helped her out. Obviously, there's a lot of interest paid on these credit agreements too...


    So the question is this; can this situation be considered hardship and should the FOS agree with us or the bank? Is it worth mentioning that the same bank has already paid out on mis-sold packaged account fees (ineligible for insurance/cover) as well as PPI?


    Any thoughts gratefully received!
  • NasqueronNasqueron Forumite
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    savo456 wrote: »
    hi all, first post for me but long time reader of Martin's emails...


    I have recently become aware of the wife's difficulties with her bank (from before we met and married) so have been trying help her out.


    In the last 6 years (only data available) she's had some £3,200 in bank charges. This is for returned DD's, being overdrawn and using a reserve facility in the overdraft. This overdraft is £3,000 with the reserve being £500 of this.


    In that same period she had to take out other forms of credit to make ends meet. These loans totalled over £13,700 - she made the minimum on all these and has cleared these successfully. She also has had two credit cards with a value of £10,700 and again made at least the minimum on these. the cards have now been cleared as I have helped her out. Obviously, there's a lot of interest paid on these credit agreements too...


    So the question is this; can this situation be considered hardship and should the FOS agree with us or the bank? Is it worth mentioning that the same bank has already paid out on mis-sold packaged account fees (ineligible for insurance/cover) as well as PPI?


    Any thoughts gratefully received!

    If she was in current hardship and continually stuck in a cycle of paying off charges and getting more, then you could.

    However as it sounds like you've cleared all the debts and had various payouts, I can't see how you'd present a case of hardship. The FOS doesn't deal with hardship cases in the way they do over say PPI as there is no rule on what constitutes hardship nor what the bank has to do (they don't have to refund any charges, they can just freeze future charges)
    the concept of a United States of Europe is right.” Winston Churchill 1930
    I think that the Government are right to apply to join the European Economic Community...” -Winston Churchill 1961
    “The future of Europe if Britain were to be excluded is black indeed.”[FONT=&quot][FONT=&quot][FONT=&quot] - Winston Churchill 1963
    [/FONT][/FONT][/FONT]
  • dunstonhdunstonh Forumite
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    So the question is this; can this situation be considered hardship and should the FOS agree with us or the bank?
    The FOS have no ability to force the bank to pay anything. The court case in 2009 that the banks won changed things. All the FOS can do is make sure that the bank has considered her situation fairly.

    She no longer appears to meet the criteria of CURRENT financial hardship.
    Is it worth mentioning that the same bank has already paid out on mis-sold packaged account fees (ineligible for insurance/cover) as well as PPI?

    Nothing there relevant to the situation. Plus, the complaints team handle current hardship cases, so they know their own history.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • savo456savo456 Forumite
    6 Posts
    Thanks dunstonh.

    Currently she's at the thick end of a 3k overdraft with no means to pay it off - currently looking after our little one. She's still getting charged...

    You mention there's nothing relevant in referencing the other payouts but also suggest the same payouts influence the hardship argument. It must work vice versa surely? They all fall under the same remit here don't they - she wouldn't be in this situation if it wasn't for the charges/fees etc. Pretty sure they are all intrinsically linked here!

    I find it hard to accept that because of help from family or by obtaining more credit you are considered no longer in hardship. Also, why is "current" relevant? If the complaint can go back 6 years that's not current. the worst of it was 3-4 years ago and has only improved by the fact the bank admitted wrongdoing in other aspects of their behaviour.
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