Bank charges?

Question

I have read that you can possibly get charges (for going overdrawn) refunded, dating back six months as it is illegal for banks to do this. Does anyone know how you go about this? (England only please)

Answer 1

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

Try this website, click on the link in the middle bottom of the screen.
These nice people have a pdf of a letter to take the bank to the small claims court. By all accounts it works well.
Basically research has said that these expenses should reasonably cover the actual charge and this should be about £4.50. Where most banks take £30- £40.
This site gives a step by step on how to do it........

!0 points for best answer would be nice thanks

Answer 2

Look on the "Which" website - they have a letter template. The idea is that it is not illegal for them to charge, but the charges are inconsistent with the actual loss that they have suffered - eg their administration costs. Some credit cards have reduced their charges to £12, but Which believe this is still too much. Banks appear to be reluctant to comply.
Apparently you write to your bank requesting the money to be refunded. If they refuse then you have a very good chance at winning in court as their charges are considered extortionate. However there is a warning that the bank may well close your account on the basis of a relationship breakdown.

Answer 3

It is not illegal for banks to charge you for overdrawing your account as long as you agreed to it when signed up for your account. But if they change the terms, they must give you an opt-out period. If you don't use it, you are stuck.

Answer 4

http://www.consumeractiongroup.co.uk/