Would anyone recommend trying to claim back bank charges for late payments?

Question

It seems everyone I talk to knows someone who has got money back from their bank for charging them for late payments over the last 6 years.

Is it as easy as just writing to your bank??

Thanks for taking the time out, I owe you one

Answer 1

hi,
i'm currently claiming back from alliance and leicester and abbey and i would strongly recommend its done. they always end up giving it back because they know they cannot go to court stating that charging £25-40 for what cost them a mare few quid is legitimate. the law is on our side... at least for now so grab it back while you can

firstly if like many you dont have you statements for the last 6 years you must request them or a list off all the charges incurred over this time and include a £10 fee (the max they can charge) for them doing so. they have 40 days in which to reply to you if not you should follow up with a phone call and report them to the Information Commissioner.

once you've sent it off they will send you either all you statements for the last 6 yrs or a list. compile all the charges and total them. write to them again with the details of the total. you can also include any interest charged whilst you were in unauthorised overdraft. and interest for oportunity costs which is 8% from the day of your first charge. however they are not entitled to give you this additional 8% unless it actually gets to court. all this does is gives them a bit of incentive to pay up instead of getting into court because once there you can add interest compensation for stress and your legal costs to the bill, but it should all be stated in the letters.

once thats done they may write to you trying to convince you the charges are legal, DONT BUY IT. or they may offer you a partial settlement. its up to you to accept this if you feel its satisfactory. or you could accept letting them know that you'd expect the rest in the near future. however most strongly recommend you go for all.

if they dont want to pay up file a judgement against them in the small claims court and if necessary call in the bailiffs

they SHOULD NOT close you account but may try to. the Financial Ombudsmen has ruled against them doing so, so if they do you're allowed to report them and could be entitled to further compensation. however they may put you down on their systems as a difficult customer and they may not make things too sweet afterwards

from what i've read most cases are dealt with in 2 months but i'm sure some are done quicker, then again banks may want to hold on to the money for as long as they can to earn interest.

what most important to remember is if you do get to court you should be properly prepared as ill preparation could cost you to lose. although very few banks send someone to defend them resulting in your immediate victory.

what you should always remember is they will try to convince you they are legal charges, like Alliance and Leicester is trying to do to me now. But press ahead like a charging bull because the masses who've been re-imbursed cant all be wrong.
know i've provided way more info but hope it all helps and good luck

******************************...
now for those who keep saying that its in the t & c's.... please dont get me started! people are not disputting that the charges are illegal dont get the masses wrong i'm sure everyone appreciates that all business are here to make profits including banks what we are disputing is the amount that is being charged. if you all take the time to read a few doc you'll soon realise they were possibly overcharging you too because what they are supposed to charge you is what it cost them... the way the banks make profit is by charging interest and investing our money not extortionate charges

Answer 2

YES YES & YES. I did and got back £1400. I wrote to my bank and requested copies of my bank statments for the last six years. I then went through them with a fine tooth combe and marked each charge I had. I had markings and scribbles all over my statemensts, hence why I got copies.

I then wrote to the bank with a full and detailed list of the charges and what the charges were made against. I then had a reply and money in my account within a month.
They have not had my account closed or any hassle from the bank either. Although I have heard that some people have had only offers of half thier charges back and that some people have indeed had thier accounts closed.
However, do you want to stay with a bank that rips you off for going a fiver or even less overdrawn and then charge you £25 for the privilage of aletter (if your'e lucky to tell you this?)

So go for it, what have you got to lose???

Answer 3

Only rarely do I bother with this. There was one occasion when a payment of about $100 was four days late; they wanted to stick me with a late charge of $39. I told them that they had a choice: either the late charge would go away, or I would. They took it off, because I had not otherwise been late in the previous year. Ask, and ye may receive, especially if you can make a credible case.

Answer 4

In the US anyway, the late charges ARE legal. You agreed to them by using the card. Every single time you use the card, you are telling your credit card company that you agree to their terms. That being said, call them and request to have them waived! If they can, they usually will. MOST importantly, be nice! If you call and threaten to close your account if they don't remove them- you won't get anything done. I used to love when people would call and tell me "Waive these fees or close my account". I will call your bluff. Here's the thing- if they cared whether or not you carried their card or not, they would waive the fees without the threats. If they say they cannot/will not waive the fees, chances are it is because they honestly don't really care if you have the card or not.

Answer 5

I don't think you write to your bank though. You contact a company who deals with it. If you search online there are loads of companies who do it. Give it a try, you never know.

Answer 6

YES MOST DEF

DONT MAKE ANY PERSON MAKE THEMSELF RICH OF YOUR BACK

GET UR MONEY BACK

SOME PEOPLE GET THOUSANDS BACK IN CHARGES BUT THEN YOU NEED TO THINK THAT MAYBE THEY DID NOT RUN THEIR ACCOUNTS PROPERLY

I CLAIMED 350 AND GOT 308

REALLY HAPPY

Answer 7

It doesn't hurt to try, but a letter is not nessecary. Call and speak with a manager.

Answer 8

http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1141050760,24632,
Look here this will help you.
If you do go ahead with claiming your money back the bank will most properly close your account with them.

Answer 9

I think the below website helps you.

Answer 10

couldn't hurt to try. Call them and see what they say.