Reclaiming interest charges

Lolly26

Hi,

I have a few questions about banks charges and if they can be reclaimed.

First, I have just been into the bank to clarify what the #6 charge I pay for each month was for. It was for being in my agreed overdraft. Is this a charge that can be reclaimed?

Secondly, when I was in there, she also told be I was being charged interest each month on top of this #6 charge. This was on average #15 a month! Since I have had my account, this is almost #2500! On my statement, this looks like a transaction, rather than interest which I find a little sly!

Can any of this be claimed back?

McKneff

Of course you cant reclaim it. You asked for it , used it, borrowed money in effect (your overdraft) signed to say you understood and accepted the terms and conditions.

You really dont expect to get it all for free surely ?

-taff

It IS a transaction. It's a debit.

dunstonh

First, I have just been into the bank to clarify what the #6 charge I pay for each month was for. It was for being in my agreed overdraft. Is this a charge that can be reclaimed?

no.

Secondly, when I was in there, she also told be I was being charged interest each month on top of this #6 charge. This was on average #15 a month! Since I have had my account, this is almost #2500! On my statement, this looks like a transaction, rather than interest which I find a little sly!

An interest deduction would be a transaction.

Whilst it is common knowledge to virtually everyone, it appears to have missed you that you pay interest on money you borrow.

Can any of this be claimed back?

no