some advice re: claiming back bank charges

Josephd85

Hi

I am currently in the process of gathering information to reclaim back bank charges. I have sent a letter to my bank asking for a list of transactions etc as i can only go back so far online.

My query is that I can pinpoint exactly when I started to be charged hefty bank charges, on average £150-£175 a month for a number of years. This began when i was 17 and i drunkenly damaged a phone in a branch of HSBC one night (i know, i know). The bank manager called be in the next day and demanded i pay £1000 to replace it or they would call the police. I was young and scared did not want my parents to know what had happened, I ended up having to pay £500 as a gesture of goodwill from the bank manager. I worked a saturday job at the time and earned £130(ish) a month. Having to pay this "fine" got me into debt and from then on my wages etc barely covered my charges and it started this vicious circle of monthly charges due to going overdrawn as not having enough to cover charges etc each month.

My question is do I include this piece of information in my letter when i ask for my charges to be refunded or is this going to go against me?

dunstonh

On what basis are you trying to reclaim bank charges?

Josephd85

I am attempting to reclaim due to the fact the these bank charges hurt my sitiuation over this period and was one of the factors that I accumulated debt over these years and the fact that i am continually living off credit.

[Deleted User]

Josephd85 wrote: »

I am attempting to reclaim due to the fact the these bank charges hurt my sitiuation over this period and was one of the factors that I accumulated debt over these years and the fact that i am continually living off credit.

I'd give up now if this is all you have..

You cannot attribute your bank charges to having to pay for your drunken act of vandalism, it was only through the Bank's goodwill that you were only charged £500. This incident is irrelevant and should not be mentioned in any attempt at reclaiming Bank charges. If the Police had been called and your case had gone to court you could well have ended up paying far more than £500 and would have had a criminal record to boot. I'd say the Bank Manager did you a favour there.

In addition, banks will only consider such claims if you meet their "hardship" criteria. This means not simply "continually living off credit", but genuinely finding it difficult to afford basic living expenses. Even if they were to decide in your favour, they'll typically offer a refund only of charges made within the last six months, never for "a number of years".

Probably more productive for you to seek help on the "Debt Free Wannabe" board.
http://forums.moneysavingexpert.com/forumdisplay.php?f=76

dunstonh

Josephd85 wrote: »

I am attempting to reclaim due to the fact the these bank charges hurt my sitiuation over this period and was one of the factors that I accumulated debt over these years and the fact that i am continually living off credit.

Lots of things hurt your situation. However, that doesn't mean you get refunds. Since the banks won the court case on bank charges, the reclaiming of them has ended apart from incorrect application of charges or the bank offering a goodwill refund due to first time error or financial hardship criteria being met.

If you are trying the financial hardship method, then what priority debts do you have (unpaid council tax, water, electric etc)? Do you have arrears, defaults etc in loans or credit cards?

Does your bank statement show only spending on necessities. i.e. no mobile phone or pay tv going through. No restaurants, takeaways etc.

If the bank feels you meet their hardship criteria then they will offer a refund. Some will only go back 6 months and others will devise a figure from a period of their choice to create an amount that they think is suitable.