Reclaiming old bank charges - possible?

jell36

Hi Everyone. I'm after a bit of advice. I missed out on the reclaiming bank charges band wagon and I'm wanting to know if it is worth trying to reclaim the charges still.


In 2006 - 2009 I incurred quite a lot of bank charges from both HSBC and Lloyds bank. I estimate this is around £800 at least. I have just added up my HSBC charges since 2008 until now and that total come to £427 alone.


I still use the HSBC account as my main current account but I have since closed my Lloyds current account.


The main reason I am wondering if it is worth it is because I have read Martin's section on reclaiming the charges and I am unsure if I would have any chance as I am no longer in hardship. Also, the bulk of the charges are from more than 6 years ago. I have incurred a few charges over the last couple of years but not many and at the moment I am financially sound. The main reason I incurred a lot of the charges was because I was a student and was struggling for money at the time but I don't know if that would matter or how I would prove it.


Also, as I have closed my Lloyds account I don't know the account number. Could I obtain a list of past transactions through my name and address?


Do you think it is worth trying to reclaim the charges or have I missed the boat?


Apologies if the answers to my questions can be found else where on the site. If so, please direct me to the answers.

jonesMUFCforever

First question to ask surely is why was I charged in the first place (and why do I continue to get charged?).
If you borrow their money you have to play by their terms.

jell36

I was charged because I went over the overdraft limit. It was a £25 a time charge. I don't continue to get charged, since I started earning a decent salary I managed to sort out my finances.

Yes if you borrow the banks money then you play by their terms however it was previously decided that the bank charges were very excessive.

Your post isn't of much help. A few years ago (around 2009) thousands of people (if not a couple of million) successfully reclaimed excessive bank charges. I am wanting to know, is it worth trying to claim them back now. I am aware that at best I will be offered a part refund.

Stevie_Palimo

I have seen charges being reclaimed but normally the account monthly fee's ie:- pay the bank £5 - £10- a month for services not needed nor required.


These can be reclaimed by yourself and you only need to write to the bank about the said charges and this is dealt with pretty quick around the 6-8 weeks mark from start to finish.


As for charging against overdrafts I am unsure if you can reclaim these amounts as I complained to my missus bank about them some time ago now and was told we could only reclaim 1 per year, Not sure if this changed but I would say give them a call and see what they advise you.

InsideInsurance

Statute of limitations prevents anything older than 6 years old going through the court system as such you can try and reclaim whatever you want but the bank will tell you to go whistle for anything over 6 years old because they are safe in the knowledge that you cannot take it any further.

You could take a punt and include the older ones but it may result in more of a fight than simply including those that arent statute barred

jell36

InsideInsurance wrote: »

Statute of limitations prevents anything older than 6 years old going through the court system as such you can try and reclaim whatever you want but the bank will tell you to go whistle for anything over 6 years old because they are safe in the knowledge that you cannot take it any further.

You could take a punt and include the older ones but it may result in more of a fight than simply including those that arent statute barred

Thanks for the advice. I'm comfortable with only trying to reclaim the last six years worth.

It seems as though it's worth a try, now to find an example letter that suits me as the one on Martin's page is for people currently in hardship.

meer53

If you're not currently in financial hardship then i wouldn't hold out much hope of a refund.

McKneff

You cannot claim for historically being in hardship.


If you have a good job, managing your finances, then you need to move on.

jell36

Oh ok. Well at least now I know that it's not worth trying. Wish I had put a claim in when everyone else was in 2009, I know a few people who got over £1000 back.

Thank you for your help everyone.

OhReally_2

jell36 wrote: »

Hi Everyone. I'm after a bit of advice. I missed out on the reclaiming bank charges band wagon and I'm wanting to know if it is worth trying to reclaim the charges still.


In 2006 - 2009 I incurred quite a lot of bank charges from both HSBC and Lloyds bank. I estimate this is around £800 at least. I have just added up my HSBC charges since 2008 until now and that total come to £427 alone.


I still use the HSBC account as my main current account but I have since closed my Lloyds current account.


The main reason I am wondering if it is worth it is because I have read Martin's section on reclaiming the charges and I am unsure if I would have any chance as I am no longer in hardship. Also, the bulk of the charges are from more than 6 years ago. I have incurred a few charges over the last couple of years but not many and at the moment I am financially sound. The main reason I incurred a lot of the charges was because I was a student and was struggling for money at the time but I don't know if that would matter or how I would prove it.


Also, as I have closed my Lloyds account I don't know the account number. Could I obtain a list of past transactions through my name and address?


Do you think it is worth trying to reclaim the charges or have I missed the boat?


Apologies if the answers to my questions can be found else where on the site. If so, please direct me to the answers.

http://forums.moneysavingexpert.com/forumdisplay.php?f=102