What charges you can claim

alan02

Hi,

I understand that account charges can be reclaimed. I also understand that overdraft interest charges from account charges that make you go over your overdraft limit can also be reclaimed. But can overdraft interst charges be reclaimed if it is a previous month's overdraft interest charge that makes you go over your limit?

On 18 February I spent £0.45 more than my overdraft limit (easily done!), which I then paid back in the next week.

In March, £4.49 (1) of interest was charged to my account because of this, making it go over the overdraft limit again.

I then paid money to bring the account back within the limit, but in April £7.63 (2) of interest was charged, making it go over the limit once more! This was followed by two more charges of £13.96 (3) and £13.51 (4) in May and June.

This means that for going £0.45 over my overdraft limit I have been charged a total of £39.59 in interest!

I understand that the initial interest charge of £4.49 was my fault for spending too much, but if interest charges make me go over the limit once again and incur more interest then surely this is unfair? How can £39.59 of interest charges for spending £0.45 too much be 'proportionate'?

Cheers for any help with this,
Alan

cheshire567

OK, I have tried finding a difinitive answer on this website and on this forum to find out whether I am entitled to claim back "account charges" from Lloyds TSB for having one of their 'exclusive' bank accounts such as the "Select" account where I am currently charges £7 per month!

Also, does anyone know whether I can claim back "Overdraft Interest"?

Thanks for any help as I desperately need the extra cash to pay off my credit card bill after Christmas :-(

bengal-stripe

cheshire567 wrote: »

...entitled to claim back "account charges" from the "Select" account....whether I can claim back "Overdraft Interest"?

No and No!

bank_stinger

hope im on the right page to place my query.i have recently attemped to claim charges applied to a personal loan through a private loan company and have got as far as the 2nd letter .The company are saying that the claim is not relevant as they are not a bank.and therefore the claim is not relevant.
Are they trying to scare me off or can i proceed with the claim?if anyone can offer advice that would be great..

Yours truly B/S

MPR_2

Does anyone know?Is it possible to claim bank charges incurred in the UK now that I have moved to Ireland?Thanks in advanceM

HuddsGirl

Hello all,

I am new to this and I have been reading everyones threads and I am looking to do the same as Halifax have smacked me £35x4 and as I am a student (already on a tight budget) I cannot afford this. I have got my templates and I shall be writing to them in the morning.

I have a question, if anyone can answer please.. I have a credit card with Barclays aswell and I have had a few charges on that which I think I can get back BUT I was wondering whether I can get interest charges that I have been receiving (£22 or sometimes more per month) on the Barclays card and the interest charges on my overdraft with Halifax bank.

I have no idea on how banks work and I am really stuck.

HELP!!!!!!!!

Edinburghlass_2

Edinburghlass wrote: »

CAN BE CLAIMED

Account misuse fee
Cheque return fee
Card misuse fee
Unarranged borrowing fee
Unauthorised overdraft fee
Unpaid DD fee
Unpaid cheque fee
Unpaid standing order fee
Exceeding Authorised Overdraft Limit
Exceeding Unauthorised Overdraft Limit
Direct Debit/Standing Order/Cheque returned fee
Irregular fee
Paid refferal fee
Total charges (HSBC personal accounts only, not business accounts)

Credit Card/Store Cards/Catalogues

Late payment fee
Over limit fee

CANNOT BE CLAIMED

Cash Machine Withdrawal Fees (ATMs)
Account Service Charges
Service Fee / Annual Fee
Charges related to foreign currency transactions and conversions.
Monthly account fees on certain type of accounts (such as RBS Royalties)
Normal overdraft interest charges<!-- / message --><!-- sig -->


Contractual interest

This is what you see on your bank statements charged by the bank when you go overdrawn. It appears on your statement as 'INTEREST', or 'INT'.

There are normally two different interest rates charged. A lower rate is charged when you are overdrawn, but still within your agreed overdraft limit. Under no circumstances can this interest be reclaimed. There is a higher rate of interest (up to 29.9%) charged when you go over your overdraft limit (unauthorised overdraft). This is a bit trickier to deal with. You cannot claim any of this interest if your spending has caused you to go over your overdraft limit, but you can claim this interest on any bank charges that have caused this. The problem with this is working out the interest only on the charges. It can be difficult to get right, and you have to be very accurate with your figures in case the bank at any stage challenges them. Generally, most people don't claim this interest.

The above post explains what you can and can't claim, so yes you can claim for the late payment fees and/or over limit fees but not the interest.

Please read Martin's articles here...

http://www.moneysavingexpert.com/reclaim/credit-card-charges

http://www.moneysavingexpert.com/reclaim/bank-charges

mikef2

HI..Am still trying to get to grips with this and may have missed a previous post ..But..

I have incurred so far over £2000 of charges..at least £580 last month..from HSBC and also another £125 of recall of Direct debit charges..

Can I claim the RECALL charges too..??
plus Ive had an overdraft arrangement fee of £25 can this be claimed??

any help much appreciated..as I think am about to go under..and this is my last life line..

Thanks
Mike

fiveyearplan

Recall charges can be claimed but not overdraft arrangement fee.

notomonkeys

just been hit with a 'service charge' of £25 for going £0.33(interest accrued) over the agreed overdraft limit. i will be popping into the bank today to ask them to give me a written breakdown of what this 'service charge' consists of. obviously they won't b able to do that since it would jeopardise their court case, so i'm going to use that as leverage to get it removed. they must think i zip up the back