Do the Banks pay up by cheque or not?

MarkyMarkD

cruton77 wrote: »

As I said in my earlier post... Anyone with any HELPFUL advice, rather than non-helpful advice from those who haven't read the post properly - would be greatly appreciated

Hm, nice to have such a well-thought-out comment from someone who's posted twice in their entire life on MSE.

I think that joncow's post expresses exactly what I meant:

joncow wrote:

Imagine if the charges had never been put on, and you never claimed them back. In an ideal world your bank account would have a balance of zero. Abbey paying you back your charges, should correct this.

The point of the refund is to put you back into the situation you would be in had the charges never been made. The obvious (in fact, the only logical) way to do that is to refund them to the account which has the debt relating to the charges.

I'm not sure why you think that reopening an account with the debt, and then offsetting the refund, is such a big deal. All your stuff about identity theft is honestly way OTT - the chances of that happening are minimal particularly on a basic account without the ability to run up debts.

jovirocksmyworld

Hi..

It's been a while since I needed help from this site... I have sued HSBC about 2 years ago, and won almost all the total amount I asked back from them.

However, another situation has arose where I found myself charged £90 in bank charges one month, and £75 another, with other bits of interest added on for good measure... I was left with an unauthorised overdraft of £231.

I recently claimed back the £171 bank charges from this, and they have accepted my claim, and offered me that amount... I signed a letter agreeing to that amount, and sat back waiting for my cheque to pop through the post... and waited... and waited...

Until, finally something must have twigged in my brain, and I checked that account... only to find that they had paid the full amount into my account that was overdrawn with them! They also retained my card in the cashpoint I used to check this!

Now excuse me, but wasn't that MY money? If I chose to use it to pay off that overdraft, then obviously thats my business... but to have it thrust upon me seems ignorant.

I wrote to them by email, and they replied saying that I had signed to say that was acceptable.

No I did NOT.

Where do I stand now? I have demanded the payment in a cheque, but I can't see them taking it back off my overdraft, and sending me it, in a hope that I use it to repay it in the future...

Help...?

joncow75

I'm afraid to say your not going to get that money in a cheque. Unfortunately its not your money, it is the banks. They have every right to offset the money they pay you back against any debt you may have with them. What would you of done with the money if they had sent you a cheque? If you hadn't paid off the overdraft then you would then owe the bank money that wasn't yours, if you see what I mean. They took money off you, and corrected that (although not the full amount). If you hadn't been charged, then you wouldn't be overdrawn, yet you want them to give you cash back. Just view it as a balance being restored. I'm waiting for a repayment from HSBC and I fully expect my overdraft to be cancelled after I receive my money, instantly wiping out that debt. I'm over the moon about that tbh

punkgirlyuk

I have today recieved 2 offers, 1 from Natwest 1 from RBS. I let them take the whole 8 weeks and this was the last day!

Anyway, both accounts went overdrawn and more charges etc got added on, I opened up another account with a different bank and started the process of claiming my charges. Both these accounts had agreed OD's which the charges made them go past the limits, both accounts defaulted. They want to pay the money back into the accounts, the amounts would bring them both back into the agreed OD's with money to spare. The point I am getting at is if the charges hadn't have snowballed then I would have been well within my limit on both accounts and they would still be functioning. i could really do with some of this money for more urgent debts (council tax arrears). I feel that I wouldn't have these other debts if the bank hadn't been lumping charges on my accounts when I was out of work/having financial problems.
So has anyone succesfully recieved claims by cheque without going to court?! I would pay back what I was over the agreed limit by then pay a monthly figure back to them. I would prefer an unsecured OD debt than a Council Tax debt! How should I approach this or am i stuffed?!

Gesbud

Can anyone help me?
I'm claiming bank charges against Nationwide for an account that is closed. If, (when), i win would the money be sent to me by cheque or would they re-open the account and put it back there???????

Any help please.:D

Beate

If you still owe them money they would offset the reclaimed charges against any debts, yes.
Otherwise, they will simply send you a cheque.

charny

Gesbud wrote: »

Can anyone help me?
I'm claiming bank charges against Nationwide for an account that is closed. If, (when), i win would the money be sent to me by cheque or would they re-open the account and put it back there???????

Any help please.:D

HI,

IT IS MY UNDERSTANDING THAT THEY WON'T RE-OPEN YOUR ACCOUNT,
AND THEY'LL SEND YOU A CHEQUE.. GOOD LUCK!!

sarah1975uk

Have gone through the route of claiming charges back from the halifax accounts i have charges on, i wrote claiming charges back asking for the fees to be paid back to me via cheque. They worte back with standard letter saying charges arent unlawful. i then rang them asking them to review the claims i then got a letter after this saying they were willing as a gesutre of good will to offer me a smaller amount. i telephoned them saying that i wasnt going to accept the offer and wanted the full ammount, on the phone when i called them they said they were prepared to up the offer which during the phone call we agreed an amount i then re itterated on the phone that i want these refunded by way of a cheque. The lady i spoke to said no they would have to be paid into my account. I no longer use these bank accounts dont even have cards for them anymore. What is my next step?? go to court?? Any help much appreciated Sarah xxx

Edinburghlass_2

You can ask for a cheque but generally the bank will repay any reclaimed monies into the account that has been claimed from.

If the account is closed and there is no debt on the account then they will send you a cheque.

sarah1975uk

raq wrote: »

My lloyds tsb account was transfered to a collection agency and the refund amount was filtered through. I didn't mind as long as I got the monies back. All clear now, thank god

Surely if the debt is sold to a dca then the account is closed with the bank? can anyone help me on this. Thought that the idea was the bank sell the debt to a dca the debt surely then is owned by the dca and has nothing to do with the bank anymore??