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acounts have been debited as having to pay interest...

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Deals_2
Deals_2 Posts: 2,410 Forumite
in Budgeting & bank accounts
can i claim back bank interest and what is the procedure? thanks in advance.

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  • Mark7799
    Mark7799 Posts: 4,806 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Why did you go overdrawn?
    Gwlad heb iaith, gwlad heb galon
  • M_Thomson
    M_Thomson Posts: 1,596 Forumite
    Part of the Furniture
    Deals wrote: »
    can i claim back bank interest and what is the procedure? thanks in advance.

    Can I write in to Sainsburys and ask for a refund of yesterdays shopping? I really object to having to pay for it.
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    You will only ever get interest back if the bank made an error.

    (By the way opening an account for you doessn't count).
  • dunstonh
    dunstonh Posts: 119,710 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Deals, I expected better from you ;)

    If you borrow money, you pay interest in the same way the banks pay interest on money you deposit with them. Perfectly fair. Its unauthorised penalty charges that are the issue at the moment.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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