Do banks have to tell you when they are going to charge ?

YorkshireBoy

bengal-stripe wrote:

Banks always give two or three weeks notice of charges or incurred interest. “This amount will be deducted from your account on 30th November”.
That is always advised on the previous statement.

Not according to the NatWest link I provided earlier.

The dates range from "on the day" for 'card misuse' and 'unpaid fees' to "the sixth business day of the month after the transactions took place" for 'paid referral fees'.

midge61

HI all
I am with Nat West and I have to say I think they are one of the worst as the only charge they notify you about is the overdraft one of £28 which by the way is the cheapest charge they have!
Can I say that is not unreasonable to ask them to refund charges. Whilst I am at the moment in the process of having filed a small claim against Lloyds I have found myself having half my monthly income taken by Snatch West each month in charges I wrote to them to explain why my income had dropped in the first place which started the spiral of charges and asked them to help in some way. Three weeks later after another stiff letter for not replying to the first they offered me a £800 refund.
So in answer to Cullumpster yes they can do it.

Cullumpster

Thank you midge61, i have never recieved a letter from Snatch West :rotfl: to advise that i would be charged, and i have been charged another £76 today without being informed :mad:Thanks for being nice annie-c :hugs: i was begining to feel a little hurt by the comments

midge61

Hi Cullumpster
Glad to have helped. I think Snatch west will get a kick in the bum when the OFT have finished their investigations on the banks. I'm sure that the banking code says somewhere that they are supposed to give you notice of when charges are to be applied. I am thinking of trying to find out about this, but I do intend claiming all of my charges back when I've finished getting charges back from Lloyds.
You should have a look at https://www.consumeractiongroup.co.uk they are very helpful and supportive on there.
Good luck

virgin_moneysaver

the very 1st time natwest bounce a d/d due to lack of funds they notify you by letter about it & part of the text says something along the lines of " please note that any future d/d that we return unpaid due to lack of funds will be charged the standard fee of £38" - so they do tell you & its also among the T&C

cancel all d/ds on your account & arrange to pay the companies some other way, or at least pay by s/o when you can choose what day the payment is to leave your account

oldfella

looks like some banks are in breach of the banking code ..

5.5 Before we take interest or charges for standard
account services from your current or savings
account, we will give you at least 14 days’ notice
how much we will take.

Mike

Noz

are failed DD charges "standard account services" though?

oldfella

are failed DD charges "standard account services" though?

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I reckon a bank would have a problem argueing that processing a DD is not a standard service, with standard associated charges

Mike