Regarding charges, do they have to provide me with a breakdown of those charges free of charge by law? Any references to legal acts of parliament would be much appreciated?
2006-09-20 07:13:32 · 7 answers · asked by cymro 1 in Politics & Government ➔ Law & Ethics
According to the Data Protection Act, YES they absolutely do have to supply you with this information but they are entitled to charge a small fee for costs this should be no more than £10. Furthermore they should supply you with this info. within 40 days.
You can find all the legal details and a great forum by clicking on the link below. If you are going to claim back your bank charges you will find the Consumer Action Group invaluable during your process. (I am £1200 pounds better off because of their help, well not actually because it was my money anyway!!)
2006-09-20 07:21:17 · answer #1 · answered by micknmim 3 · 0⤊ 0⤋
At the moment there is no ruling on Bank Charges, only Credit card charges. The OFT have recently announced they are looking into bank charges but the outcome from that investigation will take 12-18 months.
If you want a copy of your statements write to your bank under S.7 Data Protection Act and enclose a £10 statutory fee cheque to the bank to cover their costs of producing the statements.
Many banks are saying they will defend the charges more so than the credit card companies have done!
Check out www.bankcharges.info
this is the Govan law site for sample letters etc, which you will probably find very useful!
2006-09-20 14:27:09 · answer #2 · answered by Nick B 3 · 0⤊ 0⤋
My friend works in a bank and her boss said to her that nobody is goin to get their money back from charges with them as they signed a contract agreeing to the charges. No idea how correct that is :$
Although by the data protection act you do have a right to see your account and what charges have been made.
2006-09-20 14:20:17 · answer #3 · answered by Anonymous · 0⤊ 0⤋
If you ask them for information regarding a breakdown of charges likely to be applied to your account should you default, then yes they should, under the banking code of conduct. You should regularly get a copy of their code of practice and charge detailswith statements, and particularly when they change. You can also pick them up in your branch.
If you have defaulted, and you are asking for details of charges made to your account then its a bit different. They already provide you with these in your statements, and if you ask for a list of all charges applied say in the last year, don't argue that you seek it under the Freedom of Information Act - this act would only apply if you are asking for information say for example, how much they made out of clients in charges - ie not person specific (even though it is yourself). Under the Data Protection Act ( 1994 I beleive) you are entitled to request copies of all details held against your personal record in connection to the banks business. This generally does not include transaction details.
In my very recent experience, you will only get a list of charges made to your account on application for copies of bank statements, and for that they will charge, as set out in their code of conduct..
sorry if this is not what you wanted to hear.....
2006-09-20 14:35:19 · answer #4 · answered by MrsMac 4 · 0⤊ 0⤋
They already do through a bank statement. If you throw them away they do not have to provide them again.
2006-09-20 14:19:22 · answer #5 · answered by curiosity 4 · 0⤊ 0⤋
Log on to money saver.com they have an article on how to reclaim bank charges.
2006-09-20 14:16:54 · answer #6 · answered by tonytucks 3 · 0⤊ 0⤋
Yes, if they charge you a fee, they must show your account history.
2006-09-20 14:14:44 · answer #7 · answered by Anonymous · 0⤊ 0⤋