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Bank Charges Reclaiming Guide discussion - Page 180

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Bank Charges Reclaiming Guide discussion

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  • SonOfSonOf Forumite
    2.6K posts
    1,000 Posts Second Anniversary
    ben5678 said:
    Hi all,

    So in the guide it says that if you maybe fit into one of the categories you have nothing to lose by trying to reclaim.

    And that by reclaiming doesn't affect your credit rating, however the bank may keep a record of this and refuse deal with you in the future. 

    The bank I currently do all my banking with, and I am looking to switch to a better deal, but thinking to try to reclaim before switching as hoping I might have a bit more success as an ongoing customer. This same bank I have just got a 5 yr fixed mortgage with and now wondering if attempting a reclaim with this bank may affect my mortgage with them in anyway. Maybe it won't for the first 5 yrs which it is fixed, but if I update/remortgage in 5 years time and this same bank has a good deal, and usually staying with the same bank reduces the set up fees. Will my reclaim affect any remortgaging potential I will have in 5 years time with the same bank?

    Hope that is clear.

    It won't affect your mortgage.  Although if you tell the bank you are in current financial hardship then it may prevent you from borrowing further from them in the short term.

    However, if you are about to switch bank then this suggests you are not in current financial hardship (one of only two areas banks consider nowadays - the other is incorrect application of charges).      If you were in current financial hardship then a) you would likely be continuously overdrawn b) unlikely to get credit facilities (i.e. overdraft facility) at the new bank.

    So, are you in CURRENT financial hardship?  
  • [Deleted User][Deleted User] Forumite
    0 posts
    Eighth Anniversary 10,000 Posts Name Dropper Photogenic
    MoneySaving Newbie
    ben5678 said:The bank I currently do all my banking with, and I am looking to switch to a better deal, but thinking to try to reclaim before switching as hoping I might have a bit more success as an ongoing customer. 
    You do realise that guide is hopelessly out-of-date? 
    Unless you are in the Bank's definition of Financial Hardship, routine refunds of Bank Charges ceased after the Banks won their High Court case in 2009.

    I'm not going to respond in any more detail, read this thread (just a few pages of it) and you will see plenty of information which comprehensively answers your query..
  • revneilrevneil Forumite
    4 posts
    Part of the Furniture First Post Combo Breaker
    MoneySaving Newbie
    Quick question on reclaiming interest from PayDay Lenders. Has anyone ever successfully got refund from SAFETYNET CREDIT? And if so, how did you go about it?
  • k-eastwoodk-eastwood Forumite
    7 posts
    Ninth Anniversary First Post Combo Breaker
    Hello, I have been paying Barclays overdraft charges for years. £90 a month which I know is extreme! But due to a bad credit rating I've not been able to get a good loan deal to pay it off.   I am working hard to get my credit rating improved as I want a mortgage within the next 12 months.  When I last spoke to Barclays all they offered me was to get help, which would affect my credit rating.  Can anyone advise if this is the only way?  The last thing I want to do is harm my already low credit rating.
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