Can I Reclaim Charges From an Arranged Overdraft?

Dillerman

I have a current account with Halifax which I have had for many years.

Initially I had an Ultimate reward current account which allowed me up to £300 overdraft with no fees, then it was £1/day after that up to £2000.
I downgraded my account last year so to stop paying the monthly fee for the account benefits, but this also took away my up to £300 fee-free overdraft. So i currently pay £1/day for all the days I am a penny into my overdraft.

I have spent the last 5 years clawing my way back from being on the brink of my £2000 maximum overdraft limit constantly, to now hovering somewhere around zero throughout the month, usually incurring around £10-£20/month in fees for the overdraft.

I have definitely suffered financial hardship, and the £1/day (up to £30/month) really hasn't helped me with that!
However these overdraft fees are for an arranged overdraft, not for unexpected unnarranged overdraft fees, can I still reclaim?


Thank you.

dunstonh

I have definitely suffered financial hardship, and the £1/day (up to £30/month) really hasn't helped me with that!
However these overdraft fees are for an arranged overdraft, not for unexpected unnarranged overdraft fees, can I still reclaim?

On what basis do you think you can reclaim them?

Dillerman

On what basis do you think you can reclaim them?

Based on the "Reclaim Bank Charges - It's still possible to get £1,000s back" article (Sorry the forum wouldn't allow me to post the link) I thought this might apply to me. The article said that if you have been charged fees whilst you are suffering financial hardship then you may be able to reclaim them. I read that its for going into an unplanned overdraft so i thought i would ask if i could do anything with my planned overdraft.

dunstonh

The article said that if you have been charged fees whilst you are suffering financial hardship then you may be able to reclaim them.

It is current financial hardship. Not historic. People going over their limits on a regular basis could be suffering hardship and can ask the bank to consider a refund of recent charges. The bank will assess your financial standing and if they agree you are in hardship then they may consider refunding some recent charges. They also have other options which do not include a refund. Very common options are suspending future charges for 3-6 months and/or putting you on a debt reduction process.

In hardship cases, they ask what debts you are in arrears with or are struggling to pay. They look at your spending habits. Is your position due to genuine hardship or just living beyond your means for lifestyle (the latter doesnt get you a refund)

People who are not going over their limit on a regular basis are not likely to be in current hardship. So, its not likely to pass the hardship criteria.