Reclaim Bank Charges on Paid for account

wood1e2

Hi,

I have never realised that I could in theory try and claim back monthly fees on a bank account.

I got an unsolicited text regarding this. So I started to look into it. When I found some information here, I noticed the template letter offered doesn't list HSBC

I do recall HSBC saying something about overdraft and potentially the only account I could have, but I don't fully recall.

Anyway, are HSBC excluded from this?

Stevie_Palimo

Monthly fee's are against a service charge on an account ie:- They bill you £4.95 per month on a type of account and sometimes these fee's can be reclaimed, The overdraft that you used and had with them was not forced upon you therefore nothing should be given back against the actual overdraft costs and only the fee side should be looked at by the bank if you complain.

[Deleted User]

You can make a complaint to any financial institution. The "Resolver" template doesn't mention HSBC because that particular Bank are not part of the MSE scheme.

If you have a valid mis-selling complaint about a packaged bank account from HSBC, then simply write them a letter detailing your concerns. They will have eight weeks to consider them.

Do note that the complaint process is simple and free, so don't be tempted to respond to text messages or unsolicited calls from Claims Management Companies.

CMCs will charge you around a third of any redress you might win for using exactly the same complaint route you would use yourself.

wood1e2

Ok so I have to mention a valid reason...but what if I am not 100% sure of the reason, as I said I can't remember it was 100's of years ago..and went on for decades

All slight exaggerations but you get the point...I hope

[Deleted User]

wood1e2 wrote: »

Ok so I have to mention a valid reason...but what if I am not 100% sure of the reason,

If you have no reason, then you really have no complaint.

In order to be refunded, you have to show that the account was of no use to you and that you used none of the benefits associated.

dunstonh

wood1e2 wrote: »

Ok so I have to mention a valid reason...but what if I am not 100% sure of the reason, as I said I can't remember it was 100's of years ago..and went on for decades

All slight exaggerations but you get the point...I hope

You are making a complaint to the bank with an allegation they have mis-sold you. There is nothing wrong with having packaged bank accounts. There has to be have been a failure somewhere.

So, what is the failure that you are alleging?

Mersey_2

Stevie_Palimo wrote: »

The overdraft that you used and had with them was not forced upon you

No.


Equally, saying you're required to have a packaged account with a monthly fee, in order to have an overdraft - or increased overdraft - has been held to be mis-selling.


In such cases the OP would receive fees paid, plus 8% interest pa.


Of course, each cases turns on the individual facts and what you were told by the bank staff.




In the event you used 1 of the benefits, this will be deducted from any redress.

Maz18

Ive just received a letter off my bank halifax saying i wasnt miss sold my bank account basically because ive signed the paperwork. I dont drive.i dont do holidays, even if i did i had and still do have medical problems so travel insurance useless.all i wanted was an overdraft then increase it.
In the letter they i received it says i am covered for the insurance and was at the time. Dont know what to do next?? Any info would be appreciated thanks

[Deleted User]

The bank are saying you mis-bought the packaged account rather than being mis-sold it. If you signed an Agreement, that means you knew what the benefits were.

Regardless, if you remain dissatisfied with the Bank's response, you can now refer your complaint to the Ombudsman.