How Long

livelyred

Please can anyone tell me how long does this procedure take to get you money bck from the bank if you dont have to go to court ? Many Thanks Livelyred

jas135

after reading all th succes stories , it can range from 3 days to 7 months . Usually around 6 weeks is about average .

sgx.saint

Well, realistically, it should be 40 days.

As after 40 days you should be taking the bank to court anyway.

furndire

If a bank doesn't play ball straight away, you have to allow them 40 days to send your bank statements. So unless you have all your statements, I would allow at least 6 weeks.
My thoughts are that you think you have already lost the money, so what is another week or two to wait and make sure you have done the deed correctly.

livelyred

I am sorting this out in the wk once the new year is over.I havent many statement so i will have to write to them and include £10 cheque.But do you think Nationwide will close my account after if i win my charges bck ?

sgx.saint

There is reports that some banks will close your account if you attempt to reclaim back charges. Although not in everycase and I wouldn't say it was too common, but it is a risk you take when you start to claim back charges.

Best bet is to open what we call a Parachute Account, which is basically just another bank account with an un-related bank. That way if Nationwide do close your original account you have an account ready for you to fall back on.

Hop over to the Budgeting and Current Accounts forum to have a look at the different accounts etc.

livelyred

Thanks for that.

Rex_Mundi

Nationwide are one of the worst banks/building societies for closing an account after you've reclaimed your charges (seems to be in the majority of cases with this bank). Not all the banks are doing the same after people reclaim their charges, but Nationwide seem to be at the forefront of asking people to close their account (from what I've read here, and elsewhere).

If you set up an account with another bank just in case (a parachute account). It wont make any difference if your current bank asks you to close your account. They will normally give you 30 days notice to close your account if they ask.

furndire

livelyred wrote:

But do you think Nationwide will close my account after if i win my charges bck ?

They closed my daughter's account.