Bank Charges Reclaiming Guide discussion

Little_Mo_70

fairyclicks wrote: »

Can i ask for some advice please? I am currently in financial hardship - on dmp and still struggling etc.

A friend on here suggested claiming back bank fees. I have got my cc statements back for one of my cards and counted up £200 of fees for being over my limit - is this reclaimable or is it just overdraft fees?

Thanks!

It's a charge for making unauthorised withdrawals. If you have an agreed overdraft and go over that then it's over limit.
If you don't have an agreed overdraft and draw on money that isn't there then it's over limit. Use the terminology they use on the statements regarding the charges. Some banks use different words.

So, basically, they are charges and you are entitled to reclaim (but not necessarily entitled to a refund)

BlueBoat_2

Hi,
I've just joined the site with a view to others experience re bank charges.

I'm with a large high street bank & for several reasons fell behind on payments one month & this reputable friendly bank charged me over £100 for an un-arranged overdraft. As most people i suppose, i only picked this charge up a month later, where i then incurred another £100 + charge! This has now caused a cataclysmic spiral of monthly charges! It seems as if i am in a loop and can't get off.
The total for this approx the past 5 months is nearing £600!!!

I'd really appreciate any advice if it's out there.

PS this is for a current account.

Are these charges honestly substantiated!? (£100+ per o/draft fee)

JetStream

Ok, I've written to HSBC who've advised me to call the money management team, whilst saying it's their 'final letter' and refunds 'aren't the sole option' to them... Bit confusing.

Anyway, in advance of writing a reply letter (where I'm not quite sure where to start - tips?) to reclaim £1250, I thought I'd put my hardship circumstances here to see if people think I have a case:

1. I've been living off credit since leaving University in 2006. Whilst I have reduced this, I still owe approximately £9,000, which, not including any overdraft fees, costs £300 per month.
2. Over the last 4 years my salary has fluctuated; from a low of £11,500 to a maximum of £30,000 (both gross). My most recent change in salary saw a £11,500 fall from May 2011. Moreover, from September 2009 to April 2010 I was in full-time education.
3. I have recently separated from my wife. She remains at the family home, whilst she is able to find somewhere herself, and as such I am continuing to pay my share of the rent/bills. Whilst doing this, I am also renting my own, separate property. Combined, my bills/repayments total £1025, and my income varies between £1,300 and £1,500 per month. This potentially allows me £275 a month (£63 pw, and at least £45 is spent on fuel) for food and fuel, whilst not remotely denting my debts.
4. Had I not had these charges, I'd have been able to almost clear my overdraft, certainly my loan, and halve one of my two credit cards.

Thoughts?

chadarooney

Please be patient, I find this very confusing. I have several queries that I hope someone out there can help me with:
1. Up to 3 years ago I had a joint bank account with my ex husband, if I reclaim further back do I have to involve him. He was self employed and had his own account as well, my wages went in to the joint account.
2.I am confused on how far back you can go, I have read 6 years is this correct. I have all my bank statements going back 15 years.
3. What reaction will I get from my bank. I am still in financial hardship and have an overdraft that at present I could not cope without, can the bank refuse to continue this if I claim. And does the fact that I am living off the overdraft indicate hardship?
4. For your information I have debt following my divorce and have payment arrangements with several credit card companies, I have been told that due to the amount I may have to consider bankrupsy.
Thank you.

ashton02

My new husbands ex-wife has run up debts in there joint account of 1162.62 an when he applied for a mobile contract was turned down and this is when we discovered he had a default from 2010!
His ex is denying all knowledge and is ignoring all our attempts to find out why she let it default now heres a few points

# he had not received any letters from the bank obv as they have told them they didnt know where he was and have sent a letter stating they are now coming after him for this debt.

# i have the bank statements an all have the £35 plus account fee charges on top which is when the debt seem to spiral out of control

# they had an overdraft of 250 but at one stage they continued to let his ex pay for online bingo on numerous occasions even though it was way over the overdraft limit

#all the transactions that where made are with the card that was in her sole name as he never used his

Now can the bank ask him to pay back the debt even though it he can prove it wasnt his by the card used was in her name also why have they not sent debt collectors around to his exes house or bayliffs (was told the bayliffs only get sent if its government related ie council tax non payments etc) is this true
i dont understand how they have not got anything from his ex wife as she still lives in the house they both own and has her car parked outside and is in a far better paid job than my husband but they want him to pay and as we now have twins together and my daughter we dont have this type of money to pay of her debts!
Iv been advised to write back to bank but i just dont know what to say to them apart from ask for the credit agreement and copies of all letters sent out to ex-wife and copy of default notice

COULD MY HUSBAND CLAIM BACK THE CHARGES ON THE ACCOUNT OR WOULD THIS HAVE TO BE DONE BY BOTH PARTYS AS OBV SHES NOT COMPLIANT WITH ANY OF OUR REQUESTS SHES IN A WELL PAID JOB BUT MY HUB ONLY PART TIME AN WE ON TAX CREDITS??

Little_Mo_70

JetStream wrote: »

Ok, I've written to HSBC who've advised me to call the money management team, whilst saying it's their 'final letter' and refunds 'aren't the sole option' to them... Bit confusing.

Anyway, in advance of writing a reply letter (where I'm not quite sure where to start - tips?) to reclaim £1250, I thought I'd put my hardship circumstances here to see if people think I have a case:

1. I've been living off credit since leaving University in 2006. Whilst I have reduced this, I still owe approximately £9,000, which, not including any overdraft fees, costs £300 per month.
2. Over the last 4 years my salary has fluctuated; from a low of £11,500 to a maximum of £30,000 (both gross). My most recent change in salary saw a £11,500 fall from May 2011. Moreover, from September 2009 to April 2010 I was in full-time education.
3. I have recently separated from my wife. She remains at the family home, whilst she is able to find somewhere herself, and as such I am continuing to pay my share of the rent/bills. Whilst doing this, I am also renting my own, separate property. Combined, my bills/repayments total £1025, and my income varies between £1,300 and £1,500 per month. This potentially allows me £275 a month (£63 pw, and at least £45 is spent on fuel) for food and fuel, whilst not remotely denting my debts.
4. Had I not had these charges, I'd have been able to almost clear my overdraft, certainly my loan, and halve one of my two credit cards.

Thoughts?

Thoughts = Looking at your income I'm not sure if you could satisfy the hardship criteria as you say you are able to afford your bills even though your food allowance is minimal.

It's always worth a try though but you have to be honest and be prepared to prove your claim. Check out the hardship criteria on MSE site and see if anything fits your circumstances. Hopefully soon your wife will be able to move out of the home and things might be a little easier for you.

Little_Mo_70

BlueBoat wrote: »

Hi,
I've just joined the site with a view to others experience re bank charges.

I'm with a large high street bank & for several reasons fell behind on payments one month & this reputable friendly bank charged me over £100 for an un-arranged overdraft. As most people i suppose, i only picked this charge up a month later, where i then incurred another £100 + charge! This has now caused a cataclysmic spiral of monthly charges! It seems as if i am in a loop and can't get off.
The total for this approx the past 5 months is nearing £600!!!

I'd really appreciate any advice if it's out there.

PS this is for a current account.

Are these charges honestly substantiated!? (£100+ per o/draft fee)

Hindsight I know but it would have been a good idea to go into your bank after the 'first offence' to see if they would have been prepared to waive the first month's charge?

Yes, those charges are horrific but avoidable. Best thing is to check accounts' balances throughout the month just in case something nasty is looming by statement time! My advice is to go in to speak to someone senior in your bank, if you are in difficulty they are obliged to listen and offer an affordable way too pay off the debt. before it gets any worse.

If you try to reclaim charges using hardship criteria it can take ages and the debt will have spiralled even more. Ask them if they can freeze the charges whilst you pay off the outstanding amount and reassure them you will endevour to manage the account more effectively.

chadarooney

This is my second attempt to get some advice, I'm hoping I'm doing this right and putting it in the right place! I have several queries that I hope someone out there can help me with:
1. Up to 3 years ago I had a joint bank account with my ex husband, if I reclaim further back do I have to involve him. He was self employed and had his own account as well, my wages went in to the joint account.
2.I am confused on how far back you can go, I have read 6 years is this correct. I have all my bank statements going back 15 years.
3. What reaction will I get from my bank. I am still in financial hardship and have an overdraft that at present I could not cope without, can the bank refuse to continue this if I claim. And does the fact that I am living off the overdraft indicate hardship?
4. For your information I have debt following my divorce and have payment arrangements with several credit card companies, I have been told that due to the amount I may have to consider bankrupsy.
Thank you in anticipation.

Little_Mo_70

chadarooney wrote: »

This is my second attempt to get some advice, I'm hoping I'm doing this right and putting it in the right place! I have several queries that I hope someone out there can help me with:

1. Up to 3 years ago I had a joint bank account with my ex husband, if I reclaim further back do I have to involve him. He was self employed and had his own account as well, my wages went in to the joint account.
2.I am confused on how far back you can go, I have read 6 years is this correct. I have all my bank statements going back 15 years.
3. What reaction will I get from my bank. I am still in financial hardship and have an overdraft that at present I could not cope without, can the bank refuse to continue this if I claim. And does the fact that I am living off the overdraft indicate hardship?
4. For your information I have debt following my divorce and have payment arrangements with several credit card companies, I have been told that due to the amount I may have to consider bankrupsy.
Thank you in anticipation.

1) I'm not sure about claiming a refund in just your name on a bank account that was joint. They would pick up straight away if just your name appeared on the complaint/refund claim letter. However, you do definitely have to put the joint account holders' names on the Ombudsman form should you use their services. It might be better just to claim 3 years on an account that is just in your name if you don't want to involve him.

2) 6 years is correct. Banks usually won't entertain claims any further back although some have been known to in certain circumstances.

3) I would need a crystal ball to be able to tell you what reaction you would get from your bank I'm afraid. They are all different and some more sympathetic than others. I'm sure you have read various posts, some people find their bank closes the accounts when a claim is made, some don't. It's hard to predict. The fact that you are living off your overdraft wouldn't necessarily indicate to your bank that you are in financial hardship, you could be using the overdraft for all sorts of reasons, it's up to you to prove that you are in genuine hardship - see the FOS hardship criteria - you could give them proof of your statements in item 4 of your posting. As your account is still open and if you are in genuine hardship I believe they are obliged to look at your situation and offer help and advice whatever form that may take. Be aware that even if you claimed refunds of your charges the bank has no obligation to oblige.

4) See 3 above.

Skully112

Firstly I have to say; Thank you Mo for your rounded response, I feel lucky to have access to your knowledge and thoughts.

I'm not sure whether I sit in the bracket of hardship as my wage over the 5 year period has been, 17k, 19k, 20k, 10k, 16k, however I have missed a few payments / DD'd here and there (prob only 2-5% of all transactions) but was let off the rent on far too many occasions. I managed to clear my £3000 debts myself but still have a £660 overdraft on the account. I borrowed £3000 6 months ago from my mother to purchase a car for my business which is what I currently owe to her. So in theory I am at minus -3660. I have scraped around and lived off beans on toast.... etc etc...

HSBC send me monthly letters stating the months charges to be deducted and I have received a couple of calls. I can't recall and fail to distinguish whether they were trying to advise me (as I may have flagged up as needing assistance), or whether they were trying to sell me something. On both occasions they basically offered the notion of changing to an account where I pay, say £10 a month for whatever perks that come with it. For whatever reason, I declined.

You mentioned that Card accounts do not have the hardship conditions applied to it? Does this mean Credit Card? I have a Visa debit card only and have never owned a CC.

So you think I should just tell them my story and see where it leads?

Many thanks in advance - great work! - I'm not sure if you are connected but I often hear Martin Lewis on Radio 5 Live and you certainly share his enthusiasm - All the best