Bank Charges Reclaiming Guide discussion

ANiMaLSTu

Hello,

Firstly apologies if this has already been answered/asked but I couldn't see it.

I recently received a cheque through the post from Lloyds Bank for unfair bank charges over a 6 month period back in 2012 (This was received without me contacting them).

My question is, should I accept this cheque or is it worth me writing to them and getting a list of ALL my charges etc, as back then I was going through financial hardship and i'm wondering if the cheque they have sent me is to "buy me off" as it were.

Any advice would be greatly appreciated.

Stu

[Deleted User]

No. Financial hardship needs to be current.

ANiMaLSTu

Maybe it wasnt due to financial hardship then and possible just due to bank charges etc at that time. So assuming its not to do with hardship, I still ask if its worth me writing to them etc?

[Deleted User]

I doubt it. It sounds as if they have found an error in the charges and simply refunded.

[Deleted User]

ANiMaLSTu wrote: »

i'm wondering if the cheque they have sent me is to "buy me off" as it were.

I'd read again the details on the accompanying letter you received with the refund. I'd be very surprised if the letter makes any mention of the charges being "unfair". Far more likely is that the Bank have identified a fault in their internal processes from that period and have refunded you (and probably others) accordingly. The banks won their court case about "unfair" charges almost a decade ago.

So there is no point you making a complaint about other charges unless you are in CURRENT financial hardship. Even then, the Bank will not refund historical charges and will more likely freeze interest on current lending or offer debt management.

I'd just enjoy your windfall.

ANiMaLSTu

the letter reads:

---

We owe you a refund on your closed account

We have recently undertaken a review of our internal collections processes and have found that between 31 May 2012 and 16 October 2012, following an assessment of your circumstances, we did not always take the appropriate course of action when dealing with your account.

We're sorry this happened

How we've calculated the refund

We are refunding the interest, fees and/or charges on your account during the period(s) where we did not always take the appropriate course of actionbased upon our understanding of yourcircumstances at the time.

We are also paying you an additional 8% interest, which we have calculated from the date(s) we didn't do what we should have done, to the date of the refund.

A breakdown of the total payment is shown below, along with some important information about tax.

---

This is why i wonder if i should query it because it doesn't really allude to what its based on.

[Deleted User]

It alludes to them not meeting their internal standards and processes.

They've refunded you everything for that period. There's nothing more to be had.

ANiMaLSTu

Worth a shot lol... guess ill go cash it in then

[Deleted User]

ANiMaLSTu wrote: »

This is why i wonder if i should query it because it doesn't really allude to what its based on.

Seems pretty clear to me.

As before, just enjoy your unexpected windfall, you won't be getting any more especially as it says the account is closed.

Dawniemouse

If anyone is late to the party for recovering PPI like me. I used Resolver.co.uk you fill in what info you know, they will call you to go thru the details and make sure you haven't missed any lenders, send you paperwork to sign then you wait. From beginning to end my claim took about 2-1/2 months. I had a brilliant outcome, had an apology off the bank as well as interest and compensation payments. BEST OF ALL THEY CHARGE YOU £0.00