2006-10-19 05:34:09 · 6 answers · asked by Solitaire_940 2 in Business & Finance ➔ Personal Finance
You can usually only get them reversed within 6 months of being charged the fees.
2006-10-19 05:37:21 · answer #1 · answered by jit bag 4 · 0⤊ 0⤋
I believe that there was a test case this year that changed the interpretation of the law.
At the moment the banks are in a situation with the charges that they have been abusing us all with for all these years may be illegal.
The 'new' interpretation of the law is that for most things they are not allowed to use them as a penalty, only to cover the reasonable charges that they have actually incurred. So if any of you have been charged £30 for a letter this could probably be seen as unreasonable and therefore illegal.
No one knows what will eventually be seen as being reasonable and therfore legal, but in the mean time the majority of Banks are continuing to charge the same old extortionate fees but seem to be refunding anyone who quotes the caselaw to avoid the matter being clarified any further.
Take advantage of the situation whilst it is still up in the air and get all of your fees refunded!
2006-10-19 09:26:06 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Yes I have had Penalty charges refunded, because it was the fault of the bank, not mine. They cannot expect payment if they do not send you a statement.
That is what happened to me. Capital One failed to send me statements for four months. My balance was 47 dollars. They piled up 30 dollars a month for four months and I had a balance of 47 dollars raised up to 167 dollars. They finally telephones me and told me that I was delinquent. When I told them that I had received no statements for months the deleted the last penalty and ripped me off for 90 dollars.
I called them up and cancelled the card. When they
asked me why, I told them I found out what was in my pocket, it was their hands. End of story.
If the penalty was not your fault you should get a refund.
2006-10-19 05:40:48 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Yes - ask for refund and if you are not satisfied get the banking ombudsman and FSA involved - they can impose a solution on the bank if it isn't satisfactorily resolved within 8 weeks.
2006-10-19 10:38:39 · answer #4 · answered by LongJohns 7 · 0⤊ 0⤋
Yes!!! Please do it - these banks are taking the p*ss and they are getting away with it. Just done it with Abbey and they paid up straight away. Go to www.moneysavingexpert.com for more info - I recommend everyone does this - it will soon stop them taking us for fools!
2006-10-19 05:50:20 · answer #5 · answered by MoMo 5 · 0⤊ 0⤋
Yes, a lot of the time they are illegal, so don't just accept them.
2006-10-19 05:40:36 · answer #6 · answered by Anonymous · 0⤊ 0⤋