How Much is too Much?

kegan5

I've been looking through my statement, working out how much i've paid out in charges.

I was wondering if there is any guideline as to how much is too much for example in 2002 i paid 10p interest and in 06 they've taken £23.00


With lots of £2.00 in the middle... what's classed as being excessive?

Thanks in advance

K

Rex_Mundi

You cant claim for normal interest for being overdrawn. You can only claim the interest solely on bank charges that have taken you over your authorised overdraft limit. Working out how much this is for an individual charge can be a complete nightmare. The amount will be bundled in with your normal overdraft interest.

kegan5

Oh that's confusing, so if my od limit is lets say £100 and they charge me £50 interest... but it doesnt take me over my o/d limit... I cannot claim for that?

Thats an extreme example.

Rex_Mundi

You cannot claim any interest charges made while you are still within your overdraft limit, no matter how much the interest is.

kegan5

Thanks for that