How can I Claim Back Bank Charges When in Arrears?

Question

Hi, I am thinking about claiming back my bank charges, however I have a problem which may affect my ability to do so. Unfortunately I have an overdraft of 3k on my current account. I have heard banks making it difficult for people should they claim their cash back, if I did this and they cancelled my overdraft or my account it would obviously be a problem for me. I also have a bank loan with another bank which I am currently paying off.

Is there anyway to proceed?

Answer 1

DONT WORRY!!

The FSA has decided to stop the banks taking punitive action against customers who re-claim charges..

Banks can no longer close the account, and would not have a legal reason for withdrawing the overdraft!!

Do an internet search for the template letters you will need, and get your money back!!

Answer 2

The Which? Consumer magazie is also running a campaign at the moment and have letters on their website that you can download and send to your bank - different letters for different circumstances. Quite useful! We were in the same situation and just got a loan to help pay off our overdraft. We had quite a lot in bank charges for going over our overdraft limit for two days. I am going to try and claim some of it back. Hopefully this will set us back on the right path!

Answer 3

A lot of banks have started closing people's accounts when they claim, although it is still rare. Your best best is to try to get a new account which you can transfer your overdraft too. If you can do that, you're good to go.

The loan with another bank would be unaffected. If I were you, I'd try to move to that bank's current account- you are more likely to get an overdraft with them since you're already their customer.

Answer 4

Send the following letter, using another cheque not yours!!!

Your Name and address

Name and Adddress of Bank
Dear Sir or Madam
Re Account Number(Insert your Account Number)

I am writing to request a fully comprehensive list of all the default charges for direct debit unauthorised overdrafts and standing orders I have paid out over the last six years.

Please find enclosed a cheque for the maximum statutory charge of £10. If you are unable to provide this data, I will accept a copy of my statements going back six years. I understand that statements on their own are not covered by the Data Protection Act 1998, yet I I am not requesting the statements per se, but the charges which I am entitled by law.

If you store any of the older records on microfiche, please be aware that the Information Commissioner deems this to be a relevant filing system under the Act. As such any microfiche data must be sent to me fully legible and comprehensible form.

I look forward to your response within 40 days, as ( YOUR BANK) is obliged to reply under the Data Protection Act. If not I shall seek remedy from the Information Commissioner.

SIGN IT.
PRINT YOUR NAME

I know somebody who was repayed over £2000.

Answer 5

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.

try the site below for (excellent) help. they provide templates have a forum and lots more

good luck

Answer 6

I'm in the process of doing this. I went to HSBC and asked and to be honest, the girl was really cool, she said most charges were being paid back and no accounts were being closed. Go to your bank and ask someone who looks nice what the deal is - it's not their job to screw you over. Plus they know everyone's claiming back charges now and they're not about to lie about what will happen after you do - they want a godd reputation after all!

Answer 7

I know someone 12 pound over their overdraft, got a letter saying bring your account up to date by the day this letter is dated, seeing as though a letter takes at least 2 days to get to you , how do you manage that ????????

Answer 8

Hi type in reclaimunfaircharges.comforums its brilliant there is people who will help you & theres also a talk line.I have started to try to get mine back.If you want drop me a mail.
You have to pay £10 to get your last 6 years statements I
have asked for the charges.Go to the address I have give you
the people will guide & help you.Good Luck

Answer 9

I agree with Des Cs anwer.

Answer 10

Banks don't make your account negative you do...You won't be able to get that money back they will probably close your account and take you to court.