payment. I telephoned them to tell them how shocked I was about such a high penalty for such a low amount and they said they would reverse the penalty charge because of "exceptional circumstances. Do you think they could be lying and will still take the money anyway because there is plenty of money in my account now? If they did still take the money what action could I take?
2007-01-21 21:15:22 · 11 answers · asked by Anonymous in Politics & Government ➔ Politics
I saw a programme about this fairly recently on the telly and these charges are, infact, ILLEGAL if the charge is considered excessive compared to their costs involved. In other words they can levy REASONABLE costs to phone or write a letter or administer the account but otherwise you can simply refer to an obudsman. Infact it's a shame I can't remember the programme concerned but it might be worth speaking to Citizen's Advice.
However having said all that, if your bank have agreed to reverse the penalty charge, you don't have an issue. They COULD still take the money but it's extremely doubtful that they would after having told you they won't. Wait and see would be my advice then you can decide. No good wondering or asking "what if" although doesn't hurt to be forewarned of course. :)
2007-01-21 21:25:33 · answer #1 · answered by mancunian_nick 4 · 2⤊ 0⤋
If the bank have said they will waive the penalty they will, and they do have the power to do this and will do if you are usually a 'model' account holder. They realise that sometimes good account holders occasionally get caught out like you did so they show a little bit of goodwill if you ask them for it. It's not often a bank 'listens' so I'd keep an eye to make sure they do refund it and forget it.
If they did change their mind (which they wont) you can challenge the amount of the penalty fee itself - by law they can only charge you what it actually has cost them to administer your account due to insufficient funds - it must be a fair charge - so it would probably be about half of the £39 at the maximum!
Here's a sample letter you could use:
http://www.lbc.co.uk/goout.asp?u=http://www.lbc.co.uk/article.asp?id=315441&spid=9715
2007-01-21 21:52:48 · answer #2 · answered by Boo 3 · 0⤊ 0⤋
Due to English banking law banks are not allowed to charge penaltys to customers, if they cant prove that it cost £39 to issue you with the letter you received then they have to refund the charge, i am currently claiming by all my charges over the past 6 years, amounting to almost £2,500, if the bank offers you a lower amount then they are admitting guilt so must refund all charges, there are many buisnesses who will assist in your claim, usually for around 25% of the total claimed back and so far 100% of cases have been succesful. Banks have been getting away with this for years!!!
2007-01-21 21:48:13 · answer #3 · answered by Anonymous · 1⤊ 0⤋
There is a huge court case ongoing at the moment in the UK because of these "unlawful" charges, and the banks are paying £1000's back to customers. I know people should be careful with money, but I find the practice really unfair, it is like kicking someone when they are already on the floor.
2016-05-24 15:42:26 · answer #4 · answered by Anonymous · 0⤊ 0⤋
If they do take the money, as long as you took the agents name, time and date of the call, and they dispute it you can ask for call to be pulled and listened to as all their calls are recorded for secutity and you will get your money back.....also if anyone wants to email I have letters you can send to get all your bank charges back for the last 5 years....
2007-01-21 21:21:32 · answer #5 · answered by Linda C 2 · 0⤊ 0⤋
If it's a "1st offence" they will refund the charges. If you do it again, they won't.
The charges that banks are making are unlawful and more needs to be done to put a stop to it. "Which" are campaigning against the charges at the moment.
2007-01-21 21:25:05 · answer #6 · answered by Rachael H 5 · 0⤊ 0⤋
Sadly, banks are always doing this. If they explained their charges to you there isn't a great deal that you can do about it, but try and raise it with Watchdog.
2007-01-21 21:27:16 · answer #7 · answered by Anonymous · 0⤊ 0⤋
The ammount does not matter. you can overdraft by .01 the automated system will charge you.
asside from complaining to the bank, there is nothign you can do.
just ask them to take it off. they might. specially if it is the first time.
2007-01-21 21:24:08 · answer #8 · answered by Anonymous · 0⤊ 0⤋
You want to think yourself lucky and keep quite.The banks make millions by charges and I myself hate them for it.
2007-01-21 21:24:38 · answer #9 · answered by Anonymous · 0⤊ 0⤋
Service charges are how the bank puts the screws to us now......and loven it!
2007-01-21 21:18:43 · answer #10 · answered by Anonymous · 0⤊ 0⤋