i have heard a lot about getting banks to refund their charges back dated 6 years . has anyone done this and did you get the full amount + interest or a percentage ? are you still with the same bank ?
2007-03-13 22:35:37 · 9 answers · asked by woodchip1960 2 in Business & Finance ➔ Other - Business & Finance
Go to moneysavingexpert.com you'll find loads of info there.
A friend of my family got over £5000 pounds back
2007-03-13 22:47:30 · answer #1 · answered by Psycho Chicken! 5 · 0⤊ 0⤋
The penalty charges currently imposed by banks in the UK are widely regarded as illegal. But be careful. The current debate in the media concerns penalty charges. Not all bank charges and it is important to differentiate between the two before making a claim.
I claimed almost 1900 pounds in back dated penalty charges that were imposed as a result of having gone temporarily overdrawn or direct debits that were rejected and I was refunded the full amount.
However, following advice on the bbc news website I opened a new bank account with another bank and I am very glad that I did because my account was immediately closed by the bank that refunded the charges.
I was informed of this in a covering letter that was sent with a cheque for the balance of my account plus the refund.
Opening a second bank account is an important first step.
Its also worth noting that there is a formal decision due from the OFT in the coming weeks on the fairness of charges applied to current accounts by UK banks and the decision will probably impact the value of any rebate to which you may be entitled.
It has been suggested that following the decision you may only be able to claim up to 66% of charges deemed unfair. The question being arbitrated by the OFT is "what is deemed a reasonable charge?" Last year the OFT ruled that Credit Card companies could not charge more than £12.00 for unauthorised borrowing. Applying the same logic to bank current account charges would mean that the banks would be obliged to refund about two thirds of penalty charges applied.
I used the BBC website's letter template and there is some very useful information on there as well as links to other external websites :
http://news.bbc.co.uk/1/hi/business/6170209.stm
Good luck.
2007-03-13 22:59:31 · answer #2 · answered by Peter H 2 · 1⤊ 0⤋
I am in the very process of doing this. The guy who is doing it for me sent me an idiots guide on what to do with all the letters envelopes ect inc. Its all explained in laymens terms and he does all the hard work. All he asks is 25% of what you get back which may sound a lot but its 25% of what you never had in the first place and i think its well worth it... As for the bank closing your account, so what, theres plenty more of them out there.. go to www.reclaimbankcharges.co.uk suck it and see!!!
2007-03-13 22:51:41 · answer #3 · answered by oldybutgoody 2 · 0⤊ 0⤋
keep going! Now write a letter which you will now start up a small claims against them from 7 days from the date of this letter. i'd be very very shocked in the event that they permit it bypass that a techniques. I persoanlly have declare back from Halifax some twelve months in the past and it became into all accomplished and finished in 2 a million/2 weeks and that i recognize different have too so dont provide up. yet be arranged in the event that they close your account (Halifax did not with me) so determine you have yet another account opened someplace and attempt to be sure you do not collect any further quotes after the payout the two. good success
2016-12-18 13:18:39 · answer #4 · answered by ? 4 · 0⤊ 0⤋
I recently successfully made a claim for over £1700 from my bank. It was a pretty easy process although the banks do try to make it as complicated as possible.
I followed a guide on http://www.reclaimyourmoney.co.uk
2007-03-15 04:52:04 · answer #5 · answered by Anonymous · 0⤊ 0⤋
I'm just in the process of starting this too. I think becuase there has been a lot of info and pull outs in the press just lately, everyone will try (and why not), but I guess bear in mind that the longer you leave it the longer youmay have to wait for your claim, if there's a sudden surge of applications that is!
2007-03-15 08:18:01 · answer #6 · answered by Anonymous · 0⤊ 0⤋
I have heard of a few cases or where people have managed to get their money back, I think quite alot of work is involved and your bank will probably close your account.
2007-03-13 22:42:48 · answer #7 · answered by Anonymous · 0⤊ 0⤋
i know more than one person that has done this and been awarded the money they are owed. Apparently there are websites that have the template of the letter that you have to send, its really simple - you just fill in the gaps.
2007-03-13 22:45:09 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Yes but how can you have any pudding if you don't eat your meat?
2007-03-16 07:14:07 · answer #9 · answered by Diarmid 3 · 0⤊ 0⤋