Bank Charges Test Case Article discussion

bibooo

I have gone through the process of acquiring the list of charges incurred in a 6 year period; I am owed over £2000.

The next stage is that I write to the bank (in this case Barclays) and request that they pay the money back within 14 days. BUT the template letter states that I want the money paid back to my account.

Literally the same day I received the list of charges I also received a letter informing me of my account termination due to an unpaid overdraft.

Basically, can I just change the last part of the template letter and request a cheque made out in my name or payment to my new bank account with Lloyds (instead of payment to my Barclays bank account) or is there something else I need to do?

Also will Barclays claim that some of the money is theirs due to the outstanding overdraft I have with them and take that off the total payout?

Many thanks in advance.

niobii

I am worried about the acquisition between Lloyds TSB and HBOS. I have heard of cases where the bank shuts down your bank account if you claim. I am with Lloyds and want to reclaim from Halifax - where does this leave me?

debrag

MSE_Wendy wrote: »

Also today's news is that the FSA Waiver had been extended for a further six months.

if the banks wanted money from us and took us to court we wouldn't be allowed to keep extending.

1 & 1/2 hrs what more claims are the banks going for!!!

poppy10_2

MSE_Wendy wrote: »

Also today's news is that the FSA Waiver had been extended for a further six months.

Grr... they're stringing this out so much. I've moved house twice since I originally put my claim in - there's no way the bank will find me now. So many claims will simply be 'lost in the system.'

Thousands of savers who are pursuing their banks over unfair overdraft charges have been told they will have wait at least six months more to learn if they will receive compensation.

The Financial Services Authority (FSA) announced today that it is extending the waiver that allows banks not to pay out on claims.
The waiver was introduced in July 2007 when the Office of Fair Trading (OFT) started a court action to prove that high charges for unauthorised borrowing are unfair. It was due to expire next Monday, but the court case is far from complete and the FSA has said that it will allow banks to put claims on hold for a further six months.

Dan Waters, director of the Retail Policy & Conduct Risk Division, at the FSA, says: “Our objectives continue to be certainty over this complex issue, and a fair and consistent resolution of consumer complaints about unauthorised overdraft charges. The FSA has reviewed the prevailing circumstances and has decided to offer firms an extension to the waiver, to run for up to six months.”

While the waiver is in place the Financial Ombudsman Service has agreed not to proceed with complaints. Cases in the county courts have also been put on hold.

Jennielou_2

Hi, my boyfriend sent a letter to his bank to start proceedings to reclaim his past bank charges and they automatically closed his account! Is this legal? he now doesn't have an account with them and therefore doesn't know if he can claim his bank charges, also would this affect his credit rating?

Thanks

JemJam

I've done searches through the forums but cant seem to find the answer; what actually is a test case?? If there's an explanation anywhere about please point me in the right direction!:D
Ta!
Jem

Orford

I've done searches through the forums but cant seem to find the answer; what actually is a test case?? If there's an explanation anywhere about please point me in the right direction!

This explains what's happened so far:

http://www.moneymadeclear.fsa.gov.uk/news/product/unauthorised_overdraft_charges_test_case.html

Nathan_Spleen

MSE_Wendy wrote: »

Hi all

Yesterday's judgement was to decide if some of the banks terms and conditions could be classed as a penalty. Most were decided back in October that they were not penalties and it seems that Justice Smith has now decided that the remaining terms are also not penalties, barring those of Natwest in 2001.

The decision is not too important at this stage to be honest.

Indeed.

And a word of warning for those who read the 'announcement' on the Consumer Action Group - ''NatWest 2001 Conditions are penalties - Official!!! NatWest's historical terms and conditions from 2001 have been ruled to be unenfirceable penalties!!'' (sic)

This is, of course, complete and utter nonsense as Justice Smith has merely said that Natwest's 2001 T&Cs are not incapable of being penalties - not that they are penalties as CAG would have you believe.

Quite why the already severely discredited Consumer Action Group wants to mislead it's members by peddling this kind of trash is anyones guess. But my money is on a desparate last gasp attempt to justify years of telling anyone who'd listen that that bank are penalties.

madtommyturbo

my bank said no to my claim. so i went to fsa & they old me to wait untill after the test case before going to court . but now they have closed the door on buisness accounts. i'm screwed or is there still a way forward.

Shreddie

I am in dire financial straits at the moment. I gave up a well paid job August 2006 to do a postgrad teaching course but became ill at the last placement and was unable to finish. I finally faced the fact that I was very ill and unable to complete the course or work last January and that I could no longer rob one account to pay the other. I had a £1500 overdraft with Lloyds TSB and because I was unable to pay it back or the loan and credit card I had with them, I moved my benefits to a basic bank account to safeguard some income for daily living and to pay my mortgage. I went over my overdraft limit when the account fee (£7) was added and over the next while they charged me £20 to £30+ a day until the current account was frozen at over £2200 when my debt counsellor finally got a positive response. I have been trying unsuccessfully for a year now to make arrangements with the bank for the overdraft, the loan and credit card. Can I claim back these £700+ charges to take the balance down? And if I try to claim any other charges over the past 5 years will it jeopardise my case for making a payment arrangement?