Returned Standing Order Charge?

MJ98

Hi,

I've seen similar questions to this but am not sure on the answer to my specific circumstance. Basically, i have a standing order leaving my Lloyds account at the end of each month and i completely forgot about it this month. Due to this when the bank tried to send it, they couldn't, as i didn't have the money (and they didn't go into an unplanned overdraft).

I got a letter today saying that because there wasn't enough money, i will be charged a returned item fee of £10 for each returned item and up to a maximum of 3 fees a day.

Is this right? Is it allowed?

Thanks for any help.

Martyn

jambosans

MJ98 wrote: »

Is this right? Is it allowed?

Pull the other one.

noh

MJ98 wrote: »

Hi,

.......................................
I got a letter today saying that because there wasn't enough money, i will be charged a returned item fee of £10 for each returned item and up to a maximum of 3 fees a day.

Is this right? Is it allowed?
......................................

Yes...................................................

RuthnJasper

Hi Martyn,

Sorry this happened to you - bad luck! I'm afraid that most banks do this and you're unlikely to have much success in clawing the money back. My bank charges £12 for a returned payment. However, it used to be £38 per default, but was reduced after a court ruling. Have a squint at this article, which will tell you more, if you're interested: http://www.moneysavingexpert.com/reclaim/bank-charges.

You could always ring the bank and plead your case, but be prepared for them to deny you the £12.

Hope this helps (even if it's not very encouraging!).

Best wishes. x

jambosans

RuthnJasper wrote: »

My bank charges £12 for a returned payment. However, it used to be £38 per default, but was reduced after a court ruling.

What "court ruling"?

It sounds like you're referring to credit card charges, which AFAIK were reduced on the recommendation of the OFT, not by court ruling.

RuthnJasper

jambosans wrote: »

What "court ruling"?

It sounds like you're referring to credit card charges, which AFAIK were reduced on the recommendation of the OFT, not by court ruling.

"Bank Charges Reclaiming Get £1,000s even after court ruling" - from the article. I'm aware of the OFT recommendation and successfully claimed back several thousands from my own bank. I was just generalising.

Please don't be quite so harsh to the OP. Telling him to "pull the other one" isn't very helpful.

jambosans

RuthnJasper wrote: »

"Bank Charges Reclaiming Get £1,000s even after court ruling" - from the article. I'm aware of the OFT recommendation and successfully claimed back several thousands from my own bank. I was just generalising.

Your post implies charges were reduced as a direct result of a court ruling, this is simply not the case. After the banks won their appeal against the OFT's Test Case (which focussed on their ability to assess whether charges were unfair under UTCCR) the argument surrounding the fairness of charges is pretty dead in the water.

RuthnJasper wrote: »

Please don't be quite so harsh to the OP. Telling him to "pull the other one" isn't very helpful.

The OP claimed to have seen "similar questions" on MSE in relation to charges, yet asks some pretty silly questions. Granted "Is it right?" is a moral argument with camps on both sides; "Is this allowed?" on the other hand is easily established by reading their T&C's, searching on MSE, and reading some of the guides easily found on MSE.

You'll have to forgive my curt attitude, but this board (as with the Reclaims board) sees many posts along a similar vain. I would be more sympathetic if the OP had asked what can be done about the charges, rather than simply jump to questioning their validity.

RuthnJasper

jambosans wrote: »

Your post implies charges were reduced as a direct result of a court ruling, this is simply not the case. After the banks won their appeal against the OFT's Test Case (which focussed on their ability to assess whether charges were unfair under UTCCR) the argument surrounding the fairness of charges is pretty dead in the water.



The OP claimed to have seen "similar questions" on MSE in relation to charges, yet asks some pretty silly questions. Granted "Is it right?" is a moral argument with camps on both sides; "Is this allowed?" on the other hand is easily established by reading their T&C's, searching on MSE, and reading some of the guides easily found on MSE.

You'll have to forgive my curt attitude, but this board (as with the Reclaims board) sees many posts along a similar vain. I would be more sympathetic if the OP had asked what can be done about the charges, rather than simply jump to questioning their validity.

Fair points both.

MJ98

Thanks RuthnJasper.

jambosans wrote: »

The OP claimed to have seen "similar questions" on MSE in relation to charges, yet asks some pretty silly questions. Granted "Is it right?" is a moral argument with camps on both sides; "Is this allowed?" on the other hand is easily established by reading their T&C's, searching on MSE, and reading some of the guides easily found on MSE.

You'll have to forgive my curt attitude, but this board (as with the Reclaims board) sees many posts along a similar vain. I would be more sympathetic if the OP had asked what can be done about the charges, rather than simply jump to questioning their validity.

Yes i have seen similar questions, but they were based around other silly charges, not standing orders, therefore i asked the question. It just seems a little ridiculous that i could be charged for not paying myself with a standing order.

I have looked around at some bits on here, but they seemed to mainly look at the times money can/ can't be claimed back. They were also looking at bank charges generally... I didn't see anything on standing orders. I am in the process of leaving my bank and therefore thought it would be quicker to get a simple answer/ explanation on this forum rather than trawling through the T&C's - then i could see if the charges were valid or if it was another insult and reason to leave.

I do not want to know how to reclaim the charges as i have the read the ways on this site and know how. I simply wanted to know if the charges were valid which you imply is wrong for me to do. If this question was stupid then you didn't have to answer, other answers usually are and were more constructive.

Thanks

jambosans

MJ98 wrote: »

rather than trawling through the T&C's - then i could see if the charges were valid

HSBC's General Price List and Interest Rates is four pages long, hardly war and peace.

MJ98 wrote: »

I simply wanted to know if the charges were valid which you imply is wrong for me to do. If this question was stupid then you didn't have to answer, other answers usually are and were more constructive.

Not wrong, and I didn't answer your question, I was highlighting my disbelief that yet another new poster had asked a question which is easily answered by a primary source.

ihateyes

in a day and age of internet banking, i dont see the value of standing orders. All bill ba 2 of mine get paid by bill payment... which means i log on and send the money..... whereas a standing order which is essentially a form of bill payment is where the bank sends it ... no funds >>> bank charge.... if i do it... no funds >>> no charge... makes sense dont you think (obviously only woks if you use internet banking!!)