how long for indemnity claim from bank?

maz123_2

Just a quickie? I pay my car insurance bi-annually and the nice people at the RAC have taken £185 on the 6th August (money saved and in the bank) but have now taken another £185 today:mad:

Having spoke to a very nice person called Matt who can understand 3 days before pay day,(didn't tell them that bit) bank holiday weekend etc I NEED THAT MONEY! I am now overdrawn, it's taken me ages to get straight.

They have recommended that i speak to the bank to ask for an indemnity claim on the direct debit instruction. Never done this before or heard of anyone doing this. Having read the direct debit guarantee this sounds correct but how long does it take? Has anyone else used this before?

Floss

I've done it, several years ago, with GE Capital. Can't remember how long it took, but I did get the payment back. I was told by GE Capital to send over a copy of the bank statement or charge letter because they made me overdrawn, and they refunded those charges.

I think, but don't quote me, that if you speak to your bank about it they will waive any charges when you start the direct debit guarantee process.

Have you spoken to your bank yet?

maz123_2

No, i've not spoken to my bank yet only noticed it tonight at 5.30pm then went straight onto the phone.
it's just that i've never done it before or heard of anyone else do it. they said that they would pay any charges. problem being i'm not incurring any charges yet, but will if i take any money out for petrol, food etc

balmk

Hi, if the payment was taken by direct debit, then your bank should give you an immediate refund and charge the amount back to the company that debited it. It does sometimes take a couple of hours to go through, and don't be put off by anyone at your bank telling you that it should take longer.

Floss

Speak to the bank first thing, and explain that you need to take money out / pay for things, and start the guarantee claim process. You never know, they may surprise you - but don't hold your breath :rolleyes:

BWZN93

Word of warning - be very insistent with your bank as some of them claim not to be able to do this - I had to argue with RBS over this! They stated that I had to claim from the company direct, at this point I became slightly irate as I know what the DD guarantee means, and it doesnt mean they can do nothing. At Nationwide, the money should be back in your account within 24hours.

Jo x

maz123_2

I bank with RBS!!! Preparing for argument

BWZN93

maz123 wrote: »

I bank with RBS!!! Preparing for argument

Good luck! I spoke to someone over the phone and came away from the conversation pretty unhappy in all honesty. If you get no joy then tell them they are required under the provisions of the DD guarantee to offer an indemnity service, which you insist they do for you, or you will be making a complaint to whichever body you need. I think there is something in the banking code too which makes them act on your behalf http://www.bankingcode.org.uk/pdfdocs/BANKING%20CODE.pdf see section 9.6 for further info.

Jo x