Bank Charges Reclaiming Guide discussion

in-car_bob

hi new to the site. just wanted to know if there is any differance in claiming charges back on a business account and an northern ireland account. i feel i fit the hardship rules.

nat21luv

Hi im new to the reclaiming thead! Ive just had all my statements sent to me from nationwide and im trying to figure out what the codes mean...does anyone know?! its all cryptic! all i want is the charges! ive been into the branch and they claimed not to know what they meant either....even the bank manager was called and he didnt know! i find that hard to believe... thank you in advance!

Premier_2

in-car_bob wrote: »

hi new to the site. just wanted to know if there is any differance in claiming charges back on a business account and an northern ireland account. i feel i fit the hardship rules.

Financial hardship claims would apply if the business account relates to micro-enterprise business. The lending code has more details.

I have just added a link to the financial hardship online resources sticky thread that details which organisations subscribe to the lending code.

Premier_2

nat21luv wrote: »

Hi im new to the reclaiming thead! Ive just had all my statements sent to me from nationwide and im trying to figure out what the codes mean...does anyone know?! its all cryptic! all i want is the charges! ive been into the branch and they claimed not to know what they meant either....even the bank manager was called and he didnt know! i find that hard to believe... thank you in advance!

What codes do you have?

First of all you can ignore any transactions that are credits - all charges will be debits.

You should be able to spot usual debits by DD, s/o, debit card, cheques, cash withdrawals either by ATM or over the counter, etc.
You should also be able to spot any charges associated with withdrawal from some ATMs (typically charges of £1.50-£3.00)

What ones are left and their values would probably help us to help you.

nat21luv

Thanks for your help premier! Im with nationwide and they have just send me, on request, a code explanation guide. there's one code called 'UQ-pre notified charge' can this be reclaimed? the other codes that might apply are: UM- capitalisation of interest charged on an overdrawn account, UN- monthly interest charge (?) and UO-admin charges on an overdrawn account. i need some help clearing up which charges i can claim back! any help most appreciated!

Premier_2

nat21luv wrote: »

Thanks for your help premier! Im with nationwide and they have just send me, on request, a code explanation guide. there's one code called 'UQ-pre notified charge' can this be reclaimed? the other codes that might apply are: UM- capitalisation of interest charged on an overdrawn account, UN- monthly interest charge (?) and UO-admin charges on an overdrawn account. i need some help clearing up which charges i can claim back! any help most appreciated!

The bank charges reclaiming guide only refers to charges as a result of unauthorised overdrafts and/or unpaid item charges. (e.g. bounced cheques, DDs, etc)

You cannot reclaim any interest charges for the account being overdrawn.

(The guide indicates how you can claim interest on the charges you are reclaiming)

singhy20

Hi,

I wrote to Halifax in regards to claiming back my charges under the hardship act some time last year. they rejected my claim stating because of losing to the supreme court and they where closing my claim. with the set back i never bothered continuing

Since then i have many more charges and i am in more hardship as i recently lost my job.

What i want to know is can i re claim even though its been more than 8 weeks?

Regards,

G

jojoclark

Hi there, i,m thinking of trying to reclaim my bank charges from rbs of £2300 over the past 6 years. I have been with my bank since i was young and have my mortgage with them also. So i,m worried to go ahead incase it will affect my mortgage or my account. Can they shut it down or claim back my overdraft if i try to claim the charges back???

Premier_2

singhy20 wrote: »

Hi,

I wrote to Halifax in regards to claiming back my charges under the hardship act some time last year. they rejected my claim stating because of losing to the supreme court and they where closing my claim. with the set back i never bothered continuing

Since then i have many more charges and i am in more hardship as i recently lost my job.

What i want to know is can i re claim even though its been more than 8 weeks?

Regards,

G

Hi singhy20, and welcome to MSE :hello:

I would suggest you first have a good read of the contents of the sticky thread on financial hardship online resources.

If you genuinely now believe you qualify as being under financial hardship, you could try claiming.

However, as you were regularly incurring bank charges and hence living beyond you means, prior to being in financial hardship the bank may consider that a refund of charges is not the most appropriate way to deal with your claim in a postive and sympathetic approach.
There is no obligation on the banks to refund any charges even to those in genuine financial hardship.

I suggest you post on the Debt Free Wannabe board if you would like to address the long, ongoing debt situation you appear to be in.

Premier_2

jojoclark wrote: »

Hi there, i,m thinking of trying to reclaim my bank charges from rbs of £2300 over the past 6 years. I have been with my bank since i was young and have my mortgage with them also. So i,m worried to go ahead incase it will affect my mortgage or my account. Can they shut it down or claim back my overdraft if i try to claim the charges back???

Hi jojoclark, and welcome to MSE :hello:

Attempting to reclaim bank charges will not affect your mortgage account.

Are you in arrears with your mortgage account? Obviously that would have an affect on your mortgage.
If not, what other priority debts are you incurring?
Has anything happened to you recently that reduces your disposable income?

Both of the above need to apply to claim financial hardship. If you are not in financial hardship, I wouldn't bother trying to claim as that is the only reason banks even consider refunding any charges (except where an error has otherwise occurred, or the odd goodwill gesture).
I suggest you look at the sticky thread about financial hardship online resources.
The banks are under no obligation to refund those that are in financial hardship, only to treat your claim with a positive and sympathetic approach. Recent posts suggest that any reclaims where granted are often limited to the last 6 months fees at most.