what is the best way to reclaim bank charges?

Question

And be successful!!

Answer 1

Have a look at my website, its has detailed step by step guides to claim your bank charges back, and template letters that have a proven track record.

Use the steps below, and the template letters on my site and you should have a good chance of getting a full refund of your charges. My site tells you everything you need to know, and sets you up to be in the best possible position with your claim.

The full process and timescales for claiming back your charges is:

1) Write to the bank and ask them for a copy of your charges for the last 6 years, or alternatively a set of statements for the same period. You do this by making a "Subject Access Request" under the Data Protection Act, enclosing a cheque for £10 made out to the bank. This by passes the banks normal charges for statements which is normal a large amount for 6 years worth. The bank have 40 days to send you the data.

2) Write to the bank asking them to refund your charges, giving them 14 days to reply, attaching a "Schedule of Charges" (a list of the charges you are claiming for).

3) Send the bank a "Letter before Action" giving the bank one last chance to refund your charges before you take court action. They have 14 days to reply.

4) File a claim online using the Money Claim Online web site run by the UK Court Service. The claim is served on the bank 5 days after its submitted. The bank has 14 days to acknowledge the claim. If they don't you can request a "Judgement by Default" and you win the case, and get your charges, statutory interest at 8%, and your court fees.

If they do acknowledge the claim, they then have 14 days to submit a defence (making 28 days in total from the date the claim was served). If they don't then you can again request a "Judgement by Default", and get back your charges, interest and court fees as above.

If they file a defence, then you and the bank get an "Allocation Questionnaire" to fill in. Some judges dismiss the case at this stage, as the bank can't win, so again you win. If this doesn't happen, a hearing date is allocated. The bank will most likely either back out before the hearing, or won't turn up in court. Again you win the case and get your charges, interest and fees.

Follow the correct procedures and you stand a good chance of getting your charges back! Its important to send all letters to the bank and courts by recorded delivery, so you can prove they were received, and more importantly when they were received (which you can find from the tracking section of the Royal Mail web site).

Also make sure that you send all letters to the banks head office, and not your local branch. Don't phone the bank either, as this can delay things and you have no proof of whats been said.

Have a look at my site below which has detailed step by step guides to the whole process of claiming your charges back. It also has template letters you can put your details into and send to the bank, and forums for one to one advice. We also have a guide to filing your claim in court online, which is unique to the site.

The site is free to use!

Answer 2

I have done it, successfully
I just followed this page
http://www.moneysavingexpert.com/reclaim/bank-charges

But, it's not quick. I just checked the my letters file
first, initial letter sent 04 April 07

finally received confirmation that charges would be repaid 14 June 07

Answer 3

There's a free and friendly based website www.penaltycharges.co.uk. Have a look round the forum and ask questions. I've got back over £1600 so far

Answer 4

follow the steps on this website - i am doing it at the moment and i hope to be succsessful - dont know yet though. they seem to have a good success rate though.

http://www.thisismoney.co.uk/bankcharges

good luck

Answer 5

www.moneysavingexpert.com
gives the 7 steps to successfully recruit your charges

Answer 6

Try this link it worked for us and it is so simple, all the templates are here so all you do is download them fill in your details and print them off.
Good luck

Answer 7

I ring them up - and unleash hell!