how do i go about recovering overdraft charges?

Question

i would like info on how to go about recovering overdraft charges

Answer 1

Recovering them from whom?

Answer 2

I've never heard of any way to do that. Once the bank takes the money out of your account you're pretty much SOL, unless it was an error on the bank's part, then you'd have to discuss it with them. We had an overdraft last year after Hurricane Katrina, due to the computers being down and my husband's check getting direct deposited, we accidentally withdrew about $2 over our account limit (the bank was having to do everything manually). I talked to them about it afterwards and they refunded the overdraft fee, considering the circumstances.

If you find out any other way, I'd sure love to know - my son has paid a small fortune in fees over the last year. My best advice (and what I keep trying to drill into my son's head) is to STOP over-drawing your account. Learn to budget your money better.

Answer 3

You can call your bank's customer service department (number is listed on their website) and request re-imbursement for overdraft charges. Depending on the bank, there may be a limit to how many overdraft charges the CSR can re-imburse. I bank with Bank of America (sucks) and they will only recover 2 overdraft fees a year. Smaller banks are more willing to work with you. Good Luck.

Answer 4

I do not know the US law but in the UK many people are taking the power back.

Banks are ripping off customers charging £30+ every time you go over your limit by very small amounts.

The banks in UK have not been to court so no precedent has been set - they really do NOT want to go to court as most legal experts know what will happen - a ruling that banks have acted contrary to the contract will lead to millions of unfair charges being forced back into the hands of the customers.

At present, hundreds of customers have had ALL their unfair charges returned.

If you click the following link, it may start this customer revolution in the US and stop the banks being so greedy. Good luck.

http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1141050760,24632#reclaim

Answer 5

If this is UK you claim back 6 years worth of charges - these would include "late payment", "over limit", "referral" and others. These charges are illegal in law. This also applies to Credit Cards as well.
I have found an excellent site use this link:

http://www.penaltycharges.co.uk/

This site will guide you through recovering your own charges therefor not paying huge financial institution costs. Everybody on the forum is very helpful.

Answer 6

You can talk to them about it and perhaps they will void or reduce the charge but everyone and their aunt know that banks hit you with high fees if you go overdrawn and to go overdrawn on an overdraft is even more expensive.

Answer 7

So long as you don't abuse the situation. I called my bank when I made a huge oooops on my checking. They waived the overdraft fees and credited my account...after I explained that I forgot I had the money in my other account.

Answer 8

I have found that if I just call the bank and tell them why I think I should be reimbursed, they will remove some of the charges. But if you just blatantly wrote bad checks when you knew you didn't have the money, I would just absorb the loss and move on.

Answer 9

If they are unreasonable, like £30 for being overdrawn £10 for a few days, speak to the bank (or write) and you will find they will reduce (or cancel) them rather than get bad publicity (which is what you threaten them with if they ignore you)

Answer 10

You need to talk with the manager at the branch where you opened the account. Sometimes they will reverse the fee, most times they won't. I would suggest that you be prepared to move the account if they are not going to be helpful in resloving this situation.

Answer 11

ask for a courtesy refund. you might get at least one of them if it was your error.

if it is due to a proven bank error, then you should ask for them all.

if it was due to a merchant error, chances are if the bank values you as a customer, they'll work with you.

if it was due to fraud... you should get it all refunded.

also might want to consider using a check register or overdraft protection options (ask your bank) for future avoidance if it was indeed your error.