Need clarification on what I can and cannot claim back.

Steve1977

I'v heard quite a fair bit recently about people claiming back their Overdraft charges etc. and I'v never given it a moments though, but given how much I have been charged over the years and in conjunction with the article in yesterdays News of the World, I decided to see what I could and couldnt claim back.

On my account I have incurred two charges at various times throughout the year:

1) Overdraft Interest - Due to being in my overdraft, I have incurred Interest whilst I was in the red.

2) Overdraft Penalty Charge - This has happened when I'v gone over my overdraft. No warning, nothing to tell me I was close to that limit (was buying house at the time)

So am I right in thinking I can claim the money back on both charges? Or just where I have been fined for going over my overdraft?

Your answers are most welcome!

Steve1977

Also one final question...

My account is with Lloyds TSB...are there any known instances where Lloyds have reimbursed the money but then closed that persons current account?

I wouldnt want to claim any money back and then find I'v had my account closed which would open up a whole pleathora of problems. Also, would it tarnish any record I have with the bank which would impinge of getting any mortgages etc.?

bengal-stripe

You cannot claim overdraft interest back - you use the money, that costs you a certain, agreed percentage. If you don’t dip into your overdraft, it’s free. Like the mini-bar in a hotel, you pay for what you use.

You can - possibly - claim your penalty charges back. Right at the moment, after the court judgement, everything is up in the air. There is also the stay in place ‘til at least, May 22<SUP>nd</SUP>. Wait until then, if the stay gets lifted, put in your claim.

It will probably take a long while until it is decided, once and for good, whether bank-charges are legal or not; and if they’re legal, what level is considered fair.