Agreed Overdraft £90 a month charges - Any Chance?

DisneyTheresa

Hi all,

Do I have any case to claim back charges from Barclays Bank, when we were in Finanical Hardship. I didn't know about this before (living under a rock - hey!).

We had an agreed overdraft of £3500 the bank account was always more or less up to this limit. We also had huge credit card debts of about £40,000 and they can see the monthly payments going out to these companies. Barclays charged us around £90 a month for a can't remember how long at least the last 2 years. We were robbing Peter to pay Paul and could not pay the overdraft. I have just last month remortgaged and paid off all the debts and overdraft. In fact I have just closed the account. I repeated asked them in branch if they could reduce the charges and they would not.

Do I have any chance in claiming back the charges or none as it was "agreed overdraft"?

Many thanks

dunstonh

Do I have any case to claim back charges from Barclays Bank, when we were in Finanical Hardship. I didn't know about this before (living under a rock - hey!).

Hardship criteria is CURRENT hardship. Not historic.

In fact I have just closed the account.

So, there is no way they can consider you on current financial hardship as you have no current borrowing with them.

Do I have any chance in claiming back the charges or none as it was "agreed overdraft"?

You dont meet any criteria under hardship.

DisneyTheresa

Ok thanks, so could we have claimed money back before the overdraft was paid off?

I do still have a Bank Account with this but not a joint one.

There is no other way to claim the fees back as being unduly high?

mjm3346

Their standard agreed overdraft charges on £3,500 are £3 a day, approx £90 a month so it doesn't seem like there were any penalty charges or fees on top?

DisneyTheresa

I don't think so because we didn't go over that. I had to increase it so that we wouldn't go over as there were the odd time that it did.

I am glad I asked, saved getting my hopes up and being rejected

dunstonh

Ok thanks, so could we have claimed money back before the overdraft was paid off?

No. You cannot claim back anything. During the period of financial hardship, you could have gone to the bank and asked them to consider your situation under their hardship guidelines and see if they could help you.

They would then look at your spending habits and verify you are actually in hardship and not just spending beyond your means (so, having an expensive mobile phone bill, sky tv, shopping at Next etc can work against you). If they feel you are in current hardship they will offer a range of solutions. This could be a part refund of recent charges (typically 6-12 months) but may not include any refund but a suspension of future charges for a period.