Reclaim Your Bank And Card Charges

Discussion in 'Off-Topic Chat' started by TheMusicMan, Jun 24, 2006.

  1. TheMusicMan

    TheMusicMan tMP Founder Staff Member

    Recently the Bank Watchdog suggested that banks should charge no more than £12 each time you go overdrawn or make a late payment etc. Banks have been charging in excess of £30 for these and now you can claim these fees back.

    Have a read of this...
     
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  3. brassneck

    brassneck Active Member

    That has only been agreed for credit card late payment fees and bank account charges are being discussed at this moment. It must be warned that at least one bank has taken the decision that if it agrees to refund charges for a customer, they will close that account within a month. If the customer has an overdraft facility, that will have to get paid back immediately. This does affect credit rating/scoring and reduces that individual's ability to open another bank account. I thought I would tell you this.

    here's the proof ... http://www.cloudworks.co.uk/alliance_leicester_bank_charges
     
    Last edited: Jun 24, 2006
  4. SuperMosh

    SuperMosh New Member

    Motley Fool

    They have similar advice and they suggest it is indeed possible to reclaim all charges back...

    http://www.fool.co.uk/search/search.htm?go=1&selectpage=full&mbbid=BoardID&mbmid=MessageID&query=reclaiming+charges

    Bit depressing that they may shut your account though...mind you, maybe a blessing in disguise! You'll never get another loan off them anyway!!!

    Apologies if this is off the rules but it is well worth signing up to Motley Fool - it's free and they email you all sorts of good stuff...the reclaiming bank charges was in my work's inbox 3 months ago :)

    For those wanting to do this - you can only claim for previous 6 years (damn, 3 years ago and I could have got refunded for Uni! lol) and you DO NOT need all your statements...under Data Protection, you have the right to have a copy of all charges levied to your account...seems too good to be true

    Super 'Gordon Brown' Mosh
     
  5. brassneck

    brassneck Active Member

    The thing I'm concerned about is the alternative to customers when payments cannot be met and charges cannot be given as they currently are. What do organisations do to recoup money which doesn't cost them to do so (such as debt collection agencies)??
     
  6. SuperMosh

    SuperMosh New Member

    I had an afternoon off work the other week and seeing as my lad was at school and my wife was out, watched afternoon telly. I was amazed and a little unsettled at how many ads were targetting those who were in financial difficulties...would this not mean a surge in the growth of these agencies? We advise people at work about debt and our answer is always the same - never pay for help - go to the Citizens Advice Bureau

    Right, I'm off to consolodate all my debts into one affordable monthly payment. Hopefully I will have enough left over for a car / only pay back 5x what I originally borrowed....
     

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