Bank charges question

rachelheels

Hi, I know there was the big court case years ago, but what is the current position regarding claiming back bank charges?

the ones for missed payments etc, whether it be banks, car loans etc


i have around £450 of charges on a car finance agreement over the last 4 years, all for late payments or bounced direct debits.

the finance company have offered to refund half. I’ve declined and gone to the fos to get it all.

am I likely to succeed or should I settle for half?

eskbanker

https://www.moneysavingexpert.com/reclaim/bank-charges/ summarises the situation for banks in particular - are you aiming to recover charges from the bank or the finance company or both, and on what grounds?

rachelheels

Recover from the finance co, because I’d rather have the money in my account than theirs :-)

jonesMUFCforever

rachelheels said:

Recover from the finance co, because I’d rather have the money in my account than theirs :-)

...I bet they are thinking the same - you borrowed their money, signed a contract, then broke it time and time.
I would take the 50% refund and run.
If it goes to the ombudsman they might not offer you any more (and it could be less).