What impact will the OFT have?

bubwal

I will certainly welcome any report the OFT releases that tells the banks to greatly reduce their charges. However I think that the expected announcement will lead to the end of free banking. I believe the Banks will start charging their customers for having bank accounts - like many Banks around the world already do. It will only take one of the Big Banks to announce charging and the rest will follow. This will then also impact all customers, even those that run their accounts in order and do not receive any Bank charges. We will all be penalised not just people running their account in the red.

BiscuitLily

krisskross wrote:

Too many people on these threads consider the banks charges should be limited to the cost of a sheet of paper, an envelope and a stamp.

That would be fine if HSBC ever sent me a letter to say I was overdrawn! My recent bank charges have ranged from £75 to £150 for going overdrawn and no letters, ever! If they stopped my card from being accepted, and charged me a fee for that, I wouldn't complain so much.

Ayasha

I was talking to a friend today, and he advised me that from the end of the month, I will no longer be able to claim back my bank charges and I'm only just sending off my first letter requesting my statements today! Is this true??? Have the banks closed in? Do we only have a few weeks left to try and claim?

ukmonkey

Ayasha wrote:

I was talking to a friend today, and he advised me that from the end of the month, I will no longer be able to claim back my bank charges and I'm only just sending off my first letter requesting my statements today! Is this true??? Have the banks closed in? Do we only have a few weeks left to try and claim?

Does your friend work for a bank per chance?!

Forgive me, but if this is what your friend really believes then s/he is a moron.

Boop68

hi everyone!

I started the ball rolling with regards to claiming back my bank charges at the end of January from HSBC.

I recieved a reply saying that it could take up to 8 weeks to investigate.
Up until now I hadn't heard a thing, so 2 days ago I sent them another letter complaining of the lack of response.
iIrecieved a letter today saying that they appologise for the delay, appreciate my patience and they will contact me again by 3rd April with a full response.
By this time the OFT would have made their announcement. Will this make a difference? If they refuse then it will mean taking them to court after the decision has been announced.

Boop68

mollyjacks16

Hi, just want to say thank you to this site and Martin Lewis, I worked for Barclycard for 16 years and have just retired. My 2 kids have been hit tremendousley and the charges they have incurred run into several thousands. I have now sent the first letters off to reclaim their charges, without this site I would not have done it. I will carry on to the end with this even if it means going to court, I know from the inside just what they get up to.

stanbaxter68

Hello
Does anybody know if you make a claim before the OFT report should it be refunded from the date your first contact with the bank was ???

stanbaxter68

I would of thought that your claim would be from your first contact with the bank.

gnomes_2

Is this the same as what i heard you cant claim after apr 2007, or am i on a different track, trying to find out myself

Flip77

I have written 4 weeks ago to the bank to request a list of default charges, by the time i get to ask for my money back the OFT ruling may have taken place. Does this mean they will only offer me the difference OR becuase i have written before the ruling I can get ALL my money back?