help reclaiming charges with Nationwide

elver

Hello,
After watching Martin on TV set about claiming back the unfair charges with my bank the Nationwide.
I followed the template letters to initiate procedure with Nationwide, luckily I did not need to request statements as had all on file. I worked out all charges and tabulated then and sent first letter, requesting refunding of all unreasonable charges. The reply was an unsympathetic no. So second letter was sent, following guides of template 5. This time however I calculated all the acrued interest over the 6 years and added this to total. I again asked for a refund of the charges less interest, as it was the amount initially claimed. I also asked for settlement within 4 weeks otherwise proceedings will be commenced with county court etc. If case goes to court I will be requesting charges + acrued interest + court fees up to judgement.
The reply letter was again NO, stating if still have a problem I should refer to the Financial Ombudsman.
Where do I go from here? Do I refer or carry on to court?

nickmack

elver wrote: »

The reply letter was again NO, stating if still have a problem I should refer to the Financial Ombudsman.
Where do I go from here? Do I refer or carry on to court?

As you've already got a fair way through the process, I would file the court claim.

Stephen_Leak

What did you expect? A cheque for all your charges?

These days, your chances of getting all your charges back in response to a strongly worded letter are as slim as a size zero model. The first two letters are just to show that you have tried to settle the matter before you escalated it to the courts or Financial Ombudsman.

If you don't think you are capable of successfully handling a court claim, or can't afford the court fees and aren't eligible for fee relief, then the Financial Ombudsman is an alternative. It is free of charge and handles everything for you, but it cannot dictate the level of any possible settlement like a court.

The banks always refer claimants to the FO. Firstly, he tells them to - no referrals, no job. Secondly, as above, it is the soft option for them.

Please read the Reclaim Bank Charges Help thread.

elver

So Stephen, you are suggesting that all the claims so far have been directed by the bank concerned to be referred to the ombudsman and that the successful claimants have simply ignored this instruction and taken the bank to court? Will the court not view this as being out of procedure?

Are you speaking from experience? have you sucessfully claimed back your bank charges?

And in answer to your initial question, the site mentions that many cases have been settled before court, or is this mis-information?

Stephen_Leak

Every claimant or complainant to a bank should be sent the FO leaflet with any letter, and be advised to contact him if they wish to take it further. I worked for BT customer service and we had to do the same thing with Oftel. Obviously, the banks aren't going to also mention the alternative of taking them to court.

Yes: I am currently at the court stage of reclaiming credit card late payment charges.

Countless cases have been settled by last minute out-of-court settlements. Please see the Reclaimed Bank Charges Success Stories thread.

Edinburghlass_2

Any and every financial institution that is governed by the FSA is given 8 weeks to resolve a complaint with the customer. The banks are treating reclaiming as a complaint and therefore they have to resolve the complaint within 8 weeks or write and give you a good reason as to why they can't resolve this in 8 weeks and also give you a date as to when they will resolve the complaint.

If you are not happy with the way the bank have handled your complaint you are entitled to complain to the FO and that is why they send out the leaflets explaining how to complain to the FO over the way your complaint has been handled.

The banks are not suggesting you put your reclaim through the FO rather than court, they are telling you to go to the FO if you don't think the bank has handled your complaint in the correct manner at this time.

However the FO will handle your reclaim for you, provided you have done the preparatory work, read their FAQ here...

http://www.financial-ombudsman.org.uk/faq/answers/bank-charges_a1.html