Reclaiming bank charges -advice

susplum

I am interested in reclaiming my bank charges as I know my bank has had hundreds off me over the years.

What I want to know is this...

I have 3 overdrafts with my current bank totalling £5500. What are the chances of them closing the account? Can I transfer my OD's when I open a new account?

There's no way I can pay them off, but I don't know what to do

sallyx

Hi there
Im sure someone will be along with a definative answer but I can tell you I reclaimed my bank charges with HSBC and i still have an oD with them. They didn't close or change any of the facilities on the 3 accounts I have.

Good luck with your quest!!

thesaint

It depends on your bank. Some banks will say "Okay, I will give you the money back, but we want our money back within 28 days". On top of that they are within their rights to close your account.

Go to the 'Reclaim your bank charges' section and look for posts about your bank. You will find the norm, but may not apply to you.

melaniec_2

there is a lot of information by bank on the reclaim charges board but most people will advise you to open another account to be safe. If they do ask for the money back I'm sure you will be able to negotiate payment terms., that said with the money back you might be able to pay a fair bit back.