Bank Charges Reclaiming Guide discussion

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  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
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    jamiec7 wrote: »
    Why neithier when there are literally articles on the MSE website about it?
    Read this thread's responses rather than the website article which is hopelessly out-of-date and very mis-leading.

    If you are already in (or have been) in a DMP then you are already receiving debt help and the Bank are not obliged to refund any charges regardless of whether you can somehow show that they forced you into such a Debt Management Programme.

    The time to request help (not refunds) from the Bank was at the time you became stuck in the debt spiral in the first place. This would have been current financial hardship which the Bank are expected to treat fairly.

    However, the help available would generally have been a suspension of interest for a period and/or (perhaps) a refund of (some) recent charges.

    Another option open to the Bank was to offer Debt Management, which you have now already sought elsewhere.

    So there is little point making a comprehensive listing of your historical charges and demanding they be refunded because they simply won't be. The Banks won their Court Case regarding Bank Charges a decade ago now...
  • SonOf
    SonOf Posts: 2,631 Forumite
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    Why neithier when there are literally articles on the MSE website about it?
    The articles pre-date 2009 when the banks won the court case. MSE kept them for reference and modified them a little to show that CURRENT financial hardship cases could potentially get something back.

    It should be noted that even in current financial hardship cases, the banks do not need to refund anything. Options include suspending future charges for a few months or putting you a debt management plan. When they do refund charges, it tends to be only those in the last 3-12 months. Only very extreme cases go back further.
  • NikiG
    NikiG Posts: 4 Newbie
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    Hi my mum has been sectioned under the mental health act with a severe type of dementia. She has lost her mental capacity. Although we do not have POA I have discovered Barclays charged her £75 in fees as her currently account (pays bills/rent) went over the agreed overdraft limit because she was unable to transfer funds from her savings (whilst in hospital), which I am know doing from my own money. I wrote a letter using the MSE template requesting she be refunded. I have just received a call stating "no" refund. I have asked for the response to be put in writing. Can they do this / should I take it to FOS?
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    Yes, they can do it.

    FOS are very unlikely to overturn it as they've done nothing wrong but you may get lucky if they think she hasn't been treated fairly.
  • fothy1990
    fothy1990 Posts: 1 Newbie
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    Hi,

    I have been in my overdraft with my bank for years, and have an overdraft up to £1,550. I often go up to this every month.

    I also have other credit card debt of around £5,500 and a loan which I have got £2800 left to pay.

    Do you think I can reclaim anything? Thanks in advance.
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
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    fothy1990 wrote: »
    Do you think I can reclaim anything?
    No.
    Unless you are in the Bank's definition of Financial Hardship, routine refunds of Bank Charges ceased after the Banks won their High Court case in 2009.

    I'm not going to respond in any more detail, read this thread (just a few pages of it) and you will see plenty of information which comprehensively answers your query..

    If you are struggling to service your debts, post on the "Debt Free Wannabe" section of this forum for personally tailored advice...
  • SonOf
    SonOf Posts: 2,631 Forumite
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    fothy1990 wrote: »
    Hi,

    I have been in my overdraft with my bank for years, and have an overdraft up to £1,550. I often go up to this every month.

    I also have other credit card debt of around £5,500 and a loan which I have got £2800 left to pay.

    Do you think I can reclaim anything? Thanks in advance.

    Nothing you have said suggests any wrongdoing by the bank or that you are in current financial hardship. So, on that basis, there appears nothing to reclaim.
  • mnkone
    mnkone Posts: 35 Forumite
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    Hi,


    Apologies for posting on such an old thread, I am posting due to the increase in interest banks are putting in, meaning I will be charged close to £100, rather than £45 - £50 per month.


    My question/query is (please let me know if I should post elsewhere); I have repeatedly made the bank aware of my financial hardships, and outstanding debt, that I have been using payday loans to cover bills etc, mainly in the last 2 years, which was made worse when the IT issues happened, as my fixed mortgage ended 1 month into the issues and had to pay around an extra £120 per month on variable for 10 - 12 months (not 100% sure exactly how long), but they have every time said there is nothing they can do.


    I still have a lot of debt and I am chipping away at it. But would I have grounds for an unaffordability complaint and request the overdraft charges to be frozen? Not even so I have the extra £45 - £50 I am currently charged, but so that can go directly on lowering my overdraft.


    Thanks for any help.
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
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    mnkone wrote: »
    would I have grounds for an unaffordability complaint and request the overdraft charges to be frozen? Not even so I have the extra £45 - £50 I am currently charged, but so that can go directly on lowering my overdraft.
    You don't appear to have any cause for complaint, but you certainly need to rid yourself of this expensive overdraft as soon as you can.

    Post on the "DebtFreeWannabe" section of this website for sensible and non-judgemental advice about freeing yourself from debt...
  • ben5678
    ben5678 Posts: 1 Newbie
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    Hi all,

    So in the guide it says that if you maybe fit into one of the categories you have nothing to lose by trying to reclaim.

    And that by reclaiming doesn't affect your credit rating, however the bank may keep a record of this and refuse deal with you in the future. 

    The bank I currently do all my banking with, and I am looking to switch to a better deal, but thinking to try to reclaim before switching as hoping I might have a bit more success as an ongoing customer. This same bank I have just got a 5 yr fixed mortgage with and now wondering if attempting a reclaim with this bank may affect my mortgage with them in anyway. Maybe it won't for the first 5 yrs which it is fixed, but if I update/remortgage in 5 years time and this same bank has a good deal, and usually staying with the same bank reduces the set up fees. Will my reclaim affect any remortgaging potential I will have in 5 years time with the same bank?

    Hope that is clear.

    Thanks,
    Ben
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