Do I have a case for reclaiming bank charges

maggiecon

Sorry if i have posted in the wrong forum

I took out a loan with the Ulster bank some years ago, I think it was 2007 I need to check paperwork to be certain.

I took out a loan for £7000 over 2 years. the lady in the bank told me If I took out a ufirst gold account at £13 per month it would save me money as I would get a better interest rate on the loan.

However I dont think the saving on the reduced interest rate amounted to £13 and it actually cost me money.

I just realised I have been paying this £13 per month since then and I have never had any benefit from the account. Have I a chance of claiming this back and if so how should I go about it.

dunstonh

If you believe the information is wrong then check with your bank. If they confirm that you were told incorrect information then you make a formal complaint. If they confirm you did get a better rate then you know there is nothing to complain about.

Bravestar

maggiecon wrote: »

Sorry if i have posted in the wrong forum

I took out a loan with the Ulster bank some years ago, I think it was 2007 I need to check paperwork to be certain.

I took out a loan for £7000 over 2 years. the lady in the bank told me If I took out a ufirst gold account at £13 per month it would save me money as I would get a better interest rate on the loan.

However I dont think the saving on the reduced interest rate amounted to £13 and it actually cost me money.

I just realised I have been paying this £13 per month since then and I have never had any benefit from the account. Have I a chance of claiming this back and if so how should I go about it.

Was the interest rate you got lower than it otherwise would have been?

If so, I'm not sure a claim of mis-selling will hold any water.

It's been your choice to pay £13 a month for the last 7 years. If you think it's of no benefit to you, speak to the bank and ask to downgrade to their 'free' account.