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Old 06-06-06, 07:18 AM   #1
sharriso74
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Default Bank Charges

One of my colleagues pointed this out to me, apparently you write to your bank asking for a its of all bank charges for the past 6 years. Then when they reply you write back asking to be refunded, they then refuse then you go through the small claims court which they won't contest as they are likely to lose due to the OFT ruling and don't want to risk setting a precedent.

http://www.consumeractiongroup.co.uk/bag.php

Any legal eagles here can say whether this is would work?
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Old 06-06-06, 07:25 AM   #2
Mr Toad
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It's a lot less hassle to have a bank that doesn't levy charges in the first place

I've been with the Abbey National for many years - have an overdraft arranged with them that I can use any time (and often do ) and only pay interest on it, which invariably is only a couple of pence each time. Never had 'bank charges'
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Old 06-06-06, 07:33 AM   #3
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Quote:
Originally Posted by Mr Toad
I've been with the Abbey National for many years
Likewise - and their "agreed overdraft" rate is low, too.
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Old 06-06-06, 07:36 AM   #4
timwilky
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the banks will mess you about with stalling practices. and could ask you to leave. So if that is a possibility it might be an idea to get an account elsewhere first, get your money refunded and leave anyway as would you want to bank with somebody who had treated you badly in the first place.


My wifes joke of a bank(Abbey) did her big style, she had a direct debit she had forgot about that took her £2 overdrawn, for this they bounced the dd and charged her £30 for that and then wrote her a letter to tell her she was overdrawn and charged her a further £30.

So a week later they then issue another letter to tell her she is now £62 over drawn, charge her a further £30. When she demanded the money back, No you have a contract you know you will be charged. Whether the contract is fair is a different matter. So she has now got a current account with the same bank I use. A free £1000 overdraft and warnings from me that she will not be making use of that facility.

It is my opinion (And I have lots of them) that banks will rip off the customers that they lease value. My missus only works part time and as such earns beer money, the fools never looked at the bigger picture as to our joint income.

Best advice it to stay in the black.
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Old 06-06-06, 07:39 AM   #5
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I wouldn't get too excited if I were you. You might be able to convince the judge that the charges were unfair and a penalty, but banks will fight tooth and nail to defend these claims. I used to draft mortgage small print for a living (well someone has to). It used to be popular to challenge mortgage early redemption fees but I fought every single claim - successfully I might add.

Remember that the onus of proof is on the claimant, not on the bank. The OFT's £12 is helpful but not conclusive, I would think. Some plainly are fruity - I've heard of up to £35, and that must be easy to attack and hard to justify.

Best solution is not to incur the charges in the first place...
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Old 06-06-06, 09:45 AM   #6
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I have successfully claimed back 'some' charges from HSBC using this method, and am currently going through a claim with Barclays.

After just one letter and a few of phone calls I received just over half of the amount that I claimed for from HSBC - you can get template letters from the website link (after signing up to the forum), and also contact details to send through to.

The letter I received from HSBC was two pages long stating that they did not agree with the logic of my claim, and then the last paragraph saying that as a 'good will gesture' they would refund half the amount. This is obviously their approach to try and appease their disgruntled customer without admitting any fault or liability.

I am planning to stay with HSBC, so settled for half the amount without any further follow up - however, I will fight for every penny from Barclays who I no longer have an active account with.

Ed Wrote:
Quote:
I wouldn't get too excited if I were you
Why not? Banks are multi-billion pound corporations who have been acting unlawfully and ripping off customers for years - they are making payouts because they know this, and would prefer to pay out to the few who make claims rather than have a precedent set that limits the amount of which they can charge.
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Old 06-06-06, 10:10 AM   #7
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Quote:
Originally Posted by Chief
Ed Wrote:
Quote:
I wouldn't get too excited if I were you
Why not? Banks are multi-billion pound corporations who have been acting unlawfully and ripping off customers for years - they are making payouts because they know this, and would prefer to pay out to the few who make claims rather than have a precedent set that limits the amount of which they can charge.
Sorry but I cant follow the logic of this (yes I did see the tv prog about it last night.) Yes the bank charges are expensive, its is a fine, its meant to put you off doing it again!, to become overdrawn without authorisation is spending someone else's money, Its like going into someones desk at work taking their wallet and helping yourself to THEIR money to pay for your lunch without so much as a by your leave. How happy would you be if I came and lifted money from your purse or wallet without asking??
anytine I've needed to spend money I dont have I either dont spend it, put it on the credit card (where yoy get charged for the privelage) or a quick call to the bank and they have always increased my overdraught when requested to get me out a tight spot. Its common decency. Whether its a person or a comercial organisation you are spending someone elses money without their ok. imo

And the reason they dont go to court is that the costs would out weigh the sums involved.

Sorry I'll get off my soap box now
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Old 06-06-06, 10:34 AM   #8
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Kilted Ginger wrote:
Quote:
Sorry but I cant follow the logic of this (yes I did see the tv prog about it last night.) Yes the bank charges are expensive, its is a fine, its meant to put you off doing it again!
I didn't see the program last night, so cannot comment on this. You really believe that banks use these charges to put you off from doing it again? You don't think that they would prefer to keep making charges in order to maintain their profits each year?

Also, in the banking code of conduct, it clearly states that charges CANNOT be 'punitive' (which rather makes your statement look silly) - charges MUST represent the manual effort made on behalf of the bank to resolve the situation - i'm no expert but I wouldn't imagine an automated letter costs £35 - maybe you know better than me on this

Quote:
to become overdrawn without authorisation is spending someone else's money, Its like going into someones desk at work taking their wallet and helping yourself to THEIR money to pay for your lunch without so much as a by your leave. How happy would you be if I came and lifted money from your purse or wallet without asking??
Now thats just silly - please let me know if you really need me to explain the difference between bank charges and your example above and I shall do - maybe have a little think first??

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Old 06-06-06, 10:49 AM   #9
diamond
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I've gotta agree with kilted ginger on this one, i don't see a problem with bank charges.

Why don't people have a £50-£100 approved overdraft and then if they ever accidently go overdrawn by a few quid then there's no problem.
If you are constantly going overdrawn and being charged then you are clearly living beyond your means and should take a look at how you run your finances. Banks aren't there to let you dip your hand into there money box everytime you get to the end of the month and decide you need to buy a few more bits and pieces, they are a business there to make money like any other business.

Like some one else mentioned it only takes one phone call to arrange an overdraft it's not a big hassle.
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Old 06-06-06, 11:05 AM   #10
arc123
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I don't disagree with the fact that its easy to arrange a new overdraft, and this is the best way to operate your finances when required. However,

e.d wrote:
Quote:
I've gotta agree with kilted ginger on this one, i don't see a problem with bank charges.
as stated previously - banks are operating unlawfully - IN PLAIN ENGLISH - THEY ARE NOT ALLOWED TO PUNITIVELY CHARGE PEOPLE - A FINE CANNOT BE A PUNISHMENT.

Kilted Ginger has already stated that they do it to "put you off doing it again!" - unlawful, illegal - put it how you like.

I'm just stating facts here. As an estimate, I would say that 90% of people on the 'Consumer Action Group" forum have had unlawful charges refunded - the 10% that have been unsuccessful have probably not taken the correct approach. Banks are re-paying fines because they should not have taken them in the first place. Fact.
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