moneypit23
Coach
Are people just claiming back the charges, or can you claim the overdraft interest as well?
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General Easterly
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Slipperduke
The Camden Cad
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SARF
Director
Banks dont make any money out of well run current accounts.. to them its a load of standing orders and cash point withdrawals.. Ok they pay eff all intrest but a well run current account would only ever have jusr enough money on it with any surplus being whisked off to better paying accounts..
Eventually we will see the end of the free current account .. and the end of free cash withdrawls from 'other' banks cashpoint machines.. No bank will be willing to pay millions to keep its cash machine network so people with say internet accounts can get their cash out for free..theonly reason they havn't done this yet is due to political pressure..
Eventually we will see the end of the free current account .. and the end of free cash withdrawls from 'other' banks cashpoint machines.. No bank will be willing to pay millions to keep its cash machine network so people with say internet accounts can get their cash out for free..theonly reason they havn't done this yet is due to political pressure..
callan
Striker
I'm with the woolwich (being taken over by Barclays), and phoned up their customer service number to ask for them to send me all Bank charges going back 6 years.
To be honest I wasnt expecting a huge amount as the account has always been in good order and never overdrawn, but my Wife who Banks with Nat West is all over the place financially and I thought it would be useful to see how both Banks would react.
The lady on the Woolwich Customer helpline asked me if I was intending to claim back the charges, to which I answered possibly depending on the amount.
I was told I had to make a complaint which I did and she gave me a customer reference number, which was backed up in the post two days later by letter confirming same.
About a week later I received a letter and copy of the charges from Barclays saying they didnt agree with my claim (Bizzare because I hadnt actually claimed for anything yet), but as a goodwill gesture would credit my account with 800 pounds!
I checked the charges which totalled circa 1000 pounds and 90 per cent of them were for using ATM's abroad (at 5 pounds a time its expensive but I can claim back from my company as most withdrawals are made on business trips).
I never actually thought you could claim these back as you actually agree to the charge when you draw, but needless to say I have accepted the offer.
So even if you think you have a well run account, it is worth checking with your Bank on the Charges, for me this is next years season ticket money
To be honest I wasnt expecting a huge amount as the account has always been in good order and never overdrawn, but my Wife who Banks with Nat West is all over the place financially and I thought it would be useful to see how both Banks would react.
The lady on the Woolwich Customer helpline asked me if I was intending to claim back the charges, to which I answered possibly depending on the amount.
I was told I had to make a complaint which I did and she gave me a customer reference number, which was backed up in the post two days later by letter confirming same.
About a week later I received a letter and copy of the charges from Barclays saying they didnt agree with my claim (Bizzare because I hadnt actually claimed for anything yet), but as a goodwill gesture would credit my account with 800 pounds!
I checked the charges which totalled circa 1000 pounds and 90 per cent of them were for using ATM's abroad (at 5 pounds a time its expensive but I can claim back from my company as most withdrawals are made on business trips).
I never actually thought you could claim these back as you actually agree to the charge when you draw, but needless to say I have accepted the offer.
So even if you think you have a well run account, it is worth checking with your Bank on the Charges, for me this is next years season ticket money
callan
Striker
As I understand this, the Banks have to Justify their actual costs...which they are unwilling to do.
So whilst undoubtedly there has been a cost, if they cant quantify what it is you may as well claim.
Southend_Lady
Ginger Sam
I claimed back my charges at the beginning of the year.
I called HSBC asking for my last 6 years of statements at a cost of £10, after tralling through them I saw that I had around £300 worth, def worth a claim I thought.
So I sent my letter from this website http://www.govanlc.com/bankcharges.html and got a reply a month later saying they were investigating it. I then got another reply 2 weeks later telling me in a roundabout way that they did not agree with my claim but were however prepared to pay me a 'goodwill gesture' of £340 which I was chuffed with! It is actually so easy if you use the template from this website. Its got all the legal jargon in it which makes it sound like you know what you are talking about haha.
The charges you are allowed to claim are if you exceed your overdraft and are charged over £12 for it, the same goes for credit card charges for missing a payment anything over £12 was deemed unfair by the office of fair trading and you can therefore legally claim them back. The banks argued that they charged these extreme costs to make up for all the debt collectors etc to help make up their money and the OFT said that it isnt fair to the individual customer which should only have to pay for the cost incurred by exceeding their overdraft which is usually only a general admin cost of a couple of quid!
I called HSBC asking for my last 6 years of statements at a cost of £10, after tralling through them I saw that I had around £300 worth, def worth a claim I thought.
So I sent my letter from this website http://www.govanlc.com/bankcharges.html and got a reply a month later saying they were investigating it. I then got another reply 2 weeks later telling me in a roundabout way that they did not agree with my claim but were however prepared to pay me a 'goodwill gesture' of £340 which I was chuffed with! It is actually so easy if you use the template from this website. Its got all the legal jargon in it which makes it sound like you know what you are talking about haha.
The charges you are allowed to claim are if you exceed your overdraft and are charged over £12 for it, the same goes for credit card charges for missing a payment anything over £12 was deemed unfair by the office of fair trading and you can therefore legally claim them back. The banks argued that they charged these extreme costs to make up for all the debt collectors etc to help make up their money and the OFT said that it isnt fair to the individual customer which should only have to pay for the cost incurred by exceeding their overdraft which is usually only a general admin cost of a couple of quid!
Jam_Man
Life President
Anyone know whether I would be entitlted ?
Reason I ask is my wife works for Natwest, well RBS now and has a Natwest staff account, and together we have a joint account for the mortgage and bills etc.
As she is staff would this work ? As far as I know we still pay charges ?
Obviously she needs to keep her staff account so we cant do anything that would mean her getting into trouble.
Are the fees only for exceeding your overdraft ?
Reason I ask is my wife works for Natwest, well RBS now and has a Natwest staff account, and together we have a joint account for the mortgage and bills etc.
As she is staff would this work ? As far as I know we still pay charges ?
Obviously she needs to keep her staff account so we cant do anything that would mean her getting into trouble.
Are the fees only for exceeding your overdraft ?
callan
Striker
As mentioned earlier I actually got my ATM charges back, albeit I was under the impression you couldn't claim for these.
I think the point is any charges deemed to be 'unfair', you have a chance to claim back.
As for the wisdom of your spouse claiming from her employer, why not she is a customer as well, and the contention is that Banks are behaving illegally whilst penalising people with ther charges.
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