Bank Charges

Comfort

Hi there,

I've just been hit with bank charges totalling £245.00 for being overdrawn over a period of 3 days and subsequently bouncing 6 DDs and 2 Chqs. This was over the Christmas period and put right as soon as I realised I was over my overdraft.

I've read about those of you reclaiming these charges and have considered doing this myself as I consider the amount extortionate. The only thing stopping me is that I understand the bank will then close the current account and I would assume recall the overdraft immediately. I can't possibly repay the overdraft in one go although I'm trying to reduce it.

I feel caught between the devil and the blue sea as I can't afford the charges either.

Any advice out there please?

Ps bank is Nationwide.

moxie_2

I reclaimed about £900 from Nationwide last summer. They did close my account, but I had no overdraft so I just found another bank. I'm not sure whether Nationwide are still closing accounts or not. You should go over to the bank action group at http://www.consumeractiongroup.co.uk/forum/bank-action-group-against/
They have a section devoted to Nationwide and can give you expert advice.

Comfort

Thanks for that Moxie, a very interesting site and i will read more up on it.

I_was_a_fool

Try Alliance & Leicester account, they will often match your overdraft and you can transfer everything across, then go after the nationwide. have a look on the quidco site , I think you can get cashback if you open an account through them.

Several other banks will match your overdraft as well, have a look at MSE home page to check out the best deals.

Bellie_2

I would reclaim your bank charges!!! I have done it won my first claim, I am on to my second one now. Not all of them try to close your account but if they do you can either appeal against it(there is an argument that they cannot close your account if your are claiming money back that they owe you), or open another account and say fine you will pay off your overdraft but it will only be at a specified amount each month to clear it off.

Have a look round the bank action group forum, it is very good.

In the meantime get a hold of your statments and add up all your bank charges. If you dont have them all do what Is called a DPA to get copies of them. Template here http://www.consumeractiongroup.co.uk/forum/bank-templates-library/516-1-data-protection-act.html

Then you can type up your first letter to your bank. Template here http://www.consumeractiongroup.co.uk/forum/bank-templates-library/671-2-letter-preliminary-approach.html

You need to register on the site but it only takes a min.

Good luck