Trying to reclaim Bank Charges

moneynosense

About 6 years ago, I went over my agreed overdraft limit and then I got hammered with extortionate bank charges ie £300 a time.
When my Bank agreed with the overdraft limit extension over the phone, they did not go through their bank charges if I went over the overdraft limit.

All these bank charges put me further into financial hardship as I was also relying on credit cards as well with huge balances.

Do I have a case against my bank as they failed to advise me of their bank charges?
Thanks.

dzug1

Surely you knew what the charges would be from previous experience?

And they will have told you through the T&C anyway. They didn't need to tell you again.

dunstonh

When my Bank agreed with the overdraft limit extension over the phone, they did not go through their bank charges if I went over the overdraft limit.

Banks publish their charges. They dont need to sit there and read a document to you. You can read it yourself.

Do I have a case against my bank as they failed to advise me of their bank charges?

They have no failed to read it to you. You failed to read it yourself. You agreed to these the minute you started using the account. So, no wrong doing by the bank has taken place..... in this case.

ZoeB23

moneynosense wrote: »

About 6 years ago, I went over my agreed overdraft limit and then I got hammered with extortionate bank charges ie £300 a time.
When my Bank agreed with the overdraft limit extension over the phone, they did not go through their bank charges if I went over the overdraft limit.

All these bank charges put me further into financial hardship as I was also relying on credit cards as well with huge balances.

Do I have a case against my bank as they failed to advise me of their bank charges?
Thanks.

Go for it, dont let negative replies put you off - if it placed you in financial hardship and you were relying heavily on credit cards etc then write to them and go into full detail as to why your in financial hardship.

moneynosense

Many thanks for the replies.
A bit of my background as to why not see bank charges paperwork.

In 2008 I was diagnosed with a learning disability and depression.
Since that diagnosis, I restructured my finances and haven't strayed since.

My learning disability and depression obviously played a major part in my badly run finances.
I did receive letters etc from the bank etc but I never opened them.
I hid them and did not even tell my wife.
My communication skills are not very good and was unable to talk about my finances with anyone.
As one would say "I buried my head in the sand".

When I phoned up to extend the overdraft on numerous occasions, my Bank just went through my income and outgoings and agreed the extensions without warnings.

Credit card companies are just as bad. They kept on increasing my card levels without me asking either and my balances went higher as well.

Financial institutions have the impression that everyone is "Normal", that they can deal with all the letters etc.
I thought I was "Normal" but now I know I am not!!

I was not able to deal with those letters and now I am paying the price with an extended mortgage that has absorbed my huge overdrafts, credit cards and loans that paid off other loans, overdrafts and credit cards etc.

dunstonh

Did you at any point told the bank of your learning disabilities? They will assume "normal health/understanding" unless you tell them otherwise or they are able to tell for themselves.

Banks are actually generally sympathetic and helpful with those with difficulties. However, they are not mind readers and sometimes they will get it wrong (you are dealing with humans after all).

You admit you buried your head in the sand and didnt communicate well. So, put yourself in their shoes and consider the actions. It always helps to look from the other side.

You may well be able to ask the bank for a review of charges given your difficulties. However, you have no case against them in what you are currently arguing.

moneynosense

Period I was charged heavily by the banks pre dates my diagnosis date ie 2000 to 2008.
Up until 2008, I was unaware I had a learning disability.
Since diagnosis, as I have mentioned before, measures put in place to stop happening again and touch wood, no problems.

They know now, as I have advised them as I am trying to reclaim back via financial hardship which is what I suffered.

If they had gone through the charges over the phone, then I may have thought more about what was going on.

Furthermore, I didn't look at my bank statements either till recently, totted the charges up, and they took £1000's out of my account over 8 years.

I was horrified and was very upsetting to take in.