Confused, can you claim bank charges past 6 years? HELP

cathyd85

I wrote to Barclays recently to reclaim bank charges from 2004-06 as MSE said you can try past 6 years.

they wrote back and i understood it as they were taking responsiblity but as it was over 6yrs they didnt have to pay and quoted some act/law (i know currently cant find the damn letter!)

but i read on Financial obundsman site that they are allowed to try work on any complaint past 6 years if the bank allows and in the letter from barclays it did the 'if you'r nt happy contact FOS etc etc'

im trying to claim £1170 plus interest

Can anyone shed any light?
Much appreciated!

dunstonh

but i read on Financial obundsman site that they are allowed to try work on any complaint past 6 years if the bank allows and in the letter from barclays it did the 'if you'r nt happy contact FOS etc etc'

Have you got a link to that?

The FSA have a timebar rule that allows firms to timebar complaints where the transaction was over 6 years ago or 3 years from being reasonably aware of an issue. Both have to be satisfied. Not either or.

The firm can voluntarily decide to review complaints without timebarring them. Or it maybe that the timebar has not been satisfied (maybe over 6 years ago but its only something you have recently become aware of. So, fails the 3 year rule).

With bank charges relating to 2004-2006 it is both over 6 years ago and 3 years. So, the timebar would be fair.

The FOS website does state they no longer take on complaints which people think are unjustified or unfair. That died when the banks won the court case. Nowadays, you are totally reliant on the banks goodwill. The FOS cannot intervene unless it is due to hardship where they can encourage the bank to offer a goodwill payment or it is about incorrect application of charges. As these charges related to over 6 years ago, it doesnt meet hardship criteria.

So, what basis were you using to get a refund?

cathyd85

Thank you for the reply

Applying on the grounds of financial hardship - stuck in overdraft, getting multiple fees each month for going over limit, they regulary let other bills go out my account before the loan repayment to them so they then gave me returned fees and a fee on my loan both affecting my credit rating.
i eventually went onto debt management as i had other debts on cc.

I cant post think link as im a new user on this site and it wont let me but it under FAQs, informtion for businesses covered by the obudsman service, before we get involved, time limits

C

Wywth

cathyd85 wrote: »

Thank you for the reply

Applying on the grounds of financial hardship - stuck in overdraft, getting multiple fees each month for going over limit, they regulary let other bills go out my account before the loan repayment to them so they then gave me returned fees and a fee on my loan both affecting my credit rating.
i eventually went onto debt management as i had other debts on cc.

I cant post think link as im a new user on this site and it wont let me but it under FAQs, informtion for businesses covered by the obudsman service, before we get involved, time limits

C

If you are currently in financial hardship, and stuck in an overdraft you don't seem able to escape, then the fees you are currently being charged may be refunded by the bank on request.

Read the MSE article on reclaiming bank charges for futher details
http://www.moneysavingexpert.com/reclaim/bank-charges

HTH

You won't get charges incurred 6+years ago back.

I suggest if you are currently in debt that you are struggling with, you go to the Debt Free Wannabe board, post your SoA there (details of how in a sticky thread on that board) and lets start helping you sooner rather than later

cathyd85

the financial hardship was 6+years ago. i went to a debt management company and now nearly debt free:j

why does it say u can try get over 6 years ago if u cant really? I didnt know about reclaiming these charges until a couple months ago (when i then wrote to my bank) otherwise id have done it sooner!

dunstonh

the financial hardship was 6+years ago. i went to a debt management company and now nearly debt free

So, thats it for you then.

why does it say u can try get over 6 years ago if u cant really?

The guides here typically encourage people to complain and claim for whatever they can. Even if there is only say a 1% chance of success.

Plus, a lot of the guides were written when you could claim back bank charges but havent been updated to show the current position.

I didnt know about reclaiming these charges until a couple months ago (when i then wrote to my bank) otherwise id have done it sooner!

You missed the boat big time. Since the banks won the court case, reclaiming bank charges is largely over apart from those in current financial hardship and first time mistakes.