Bank Charges OFT Test Case Discussion

Mick_Sterbs

I would like some advice please.

I had a bank Charges court date fixed for November against one of the notorious 'big eight' banks. The Court has decided to 'Stay' the Case. I am claiming just over £6000 incl. interest and court fees. I have since moved to my day to day banking to my 'Parachute' bank account as my bank were being downright unreasonable. I left them with a balance of -£1800 which i have agreed to pay off at £100 per month. They are charging me interest on this, but if i had the £6k paid back i wouldn't be in this predicament. My questions are:-

1. Can I have the interest suspended until the outcome of the test case? OR

2. Can I claim interest on the £6k - my claim was filed back in May 07?

grashe

what happens to claiming beyond 6 years as in the case for lloyds/tsb regarding the "cloaking" issue and can i still claim as they have settled my claim for the last 6 years ?

caringdad

My son was charged a large amount of interest on his overdraught and left in discust after he had paid it off. Can he still claim it back now he is no longer a customer.

beerbellynomore

My bank has re-structured there overdrawn charges from an overdrawn penalty charge of £25, they are now calling it an overdraft arrangement fee, still charging £25 but £25 for every day you are overdrawn not £25 for every £10 you go overdrawn. They charge up to a max of £150 a month + interest. Can you still claim back these charges? As they are still a penalty for going overdrawn?

:mad:

TANZARELLI

Mick_Sterbs wrote: »

I would like some advice please.

I had a bank Charges court date fixed for November against one of the notorious 'big eight' banks. The Court has decided to 'Stay' the Case. I am claiming just over £6000 incl. interest and court fees. I have since moved to my day to day banking to my 'Parachute' bank account as my bank were being downright unreasonable. I left them with a balance of -£1800 which i have agreed to pay off at £100 per month. They are charging me interest on this, but if i had the £6k paid back i wouldn't be in this predicament. My questions are:-

1. Can I have the interest suspended until the outcome of the test case? OR

2. Can I claim interest on the £6k - my claim was filed back in May 07?

You could apply to have the stay lifted by making an application to the court and paying the fee. Some courts have awarded interim relief which has meant that the banks are not allowed to charge penalties or debited interest while the test case is ongoing.

TANZARELLI

caringdad wrote: »

My son was charged a large amount of interest on his overdraught and left in discust after he had paid it off. Can he still claim it back now he is no longer a customer.[/quote

It is possible to reclaim charges and the portion of interest relating to these charges known as debited interest. You will need a spreadsheet to work out this though.

TANZARELLI

beerbellynomore wrote: »

My bank has re-structured there overdrawn charges from an overdrawn penalty charge of £25, they are now calling it an overdraft arrangement fee, still charging £25 but £25 for every day you are overdrawn not £25 for every £10 you go overdrawn. They charge up to a max of £150 a month + interest. Can you still claim back these charges? As they are still a penalty for going overdrawn?

:mad:

A blatant attempt to continue to conceal the nature of their charging regimes an cloak/veil the charges. I would say yes business as usual. Tehy are just trying to present them as service fees.

-chris-

Just a quick question
With the test case being next year, does this mean a years charges will drop off? I'm asking this because most of my charges were in 2001 so I guess if a years charges drop off due to the OFT test case then I'm better off accepting their offer while I still can!

MooRouge

My bank, when requested for a breakdown of how they arrived at a charge of £30 per overdrawn withdrawal responded that they were unable to do so because the information asked for was of a "commercially sensitive" nature. Any advice?

TJUK2007

Hiya, I cannot find this anywhere else so hopefully someone will be able to help me! Is it possible to reclaim bank charges for business accounts? I am a sole trader and have been charged £550 in the last year, I want to submit a letter to try and reclaim the charges now even though the review is taking place, I would rather submit it now and wait and see. Thanks, Terry