Bank Charges

i've been hit with some massive bank charges and it's all a bit too much... does anyone know much about this? i rang them and they are adamant that they cannot help me out with them. they call them arrangement fees, sounds like bollocks to me.

any advice would be very helpful.

I think there has been some changes in the legality of these charges driven by the consumer website moneysavingexperts... anyway, you might find something of use:

http://www.moneysavingexpert.com/reclaim/oft-bank-charges

thanks

go into the holding branch and speak to the bank manager 50/50 chance he/she isn't a twat and might help you.

i think the changes only apply to situations where you end up with numerous charges resulting from each other.

Charge them back, worked for me, when you get a letter saying you are overdrawn and that this letter has cost you £15, send one back politely thanking them for keeping you up to date with your bank account and point out that your letter also costs £15 and that the charge can be credited to your account.

Worked for me with NatWest when I was a student.

Charge them back, worked for me, when you get a letter saying you are overdrawn and that this letter has cost you £15, send one back politely thanking them for keeping you up to date with your bank account and point out that your letter also costs £15 and that the charge can be credited to your account.

Worked for me with NatWest when I was a student.

nice doesn't work for banks but FWIW, what I always do for service companies that are giving you the runaround is write stating your position, and that any further discussion that they wish you to enter in to on this matter will be charged at your standard rates of £150 per hour (or part hour thereof) plus solicitors fees which will be recharged at cost, and that by writing to you regarding this matter,
they acknowlege and accept full liability for these costs.

If they are stupid enought to write to you again, include an invoice (FAO accounts department) with your next letter. Then call them up and ask for details of their legal department saying you need to pass these on to your solicitor as you're considering taking legal action for harrasment.

works every time :-)

re the bank charges, the link that ads posted is the best course. Keep copies of bank statements. I and lots of people I know have recouped several hundred £ each doing this.

Do as Salmonchild says. Just go into your branch and be polite yet firm with them.

When I got stung for £60 for going overdrawn by a couple of quid, because of an unexpected direct debit when I was in between jobs, NatWest credited it back after just being polite and explaining the situation.

nice doesn't work for banks but FWIW, what I always do for service companies that are giving you the runaround is write stating your position, and that any further discussion that they wish you to enter in to on this matter will be charged at your standard rates of £150 per hour (or part hour thereof) plus solicitors fees which will be recharged at cost, and that by writing to you regarding this matter,
they acknowlege and accept full liability for these costs.

If they are stupid enought to write to you again, include an invoice (FAO accounts department) with your next letter. Then call them up and ask for details of their legal department saying you need to pass these on to your solicitor as you're considering taking legal action for harrasment.

That is excellent !

Cheers, cut and pasted into my folder of 'good stuff'. :)

good shit, thanks folks

Do as Salmonchild says. Just go into your branch and be polite yet firm with them.

When I got stung for £60 for going overdrawn by a couple of quid, because of an unexpected direct debit when I was in between jobs, NatWest credited it back after just being polite and explaining the situation.

First direct did this for me too once.

I'm no expert on this but, from what I understand, banks are entitled to levy charges on you in line with their terms and conditions (updated versions of which they MUST send you). However, those charges must be fair and proportionate - £30 for a standard computer-generated letter is neither.

Over the last couple of years, people have been going through the process of reclaiming unfair charges using template letters available on numerous websites. I believe there have been legal challenges from the banks, though most seem to just pay up and - if the jury is proverbially still out - it appears to be favouring the customer.

One problem I have heard of though, is of banks paying up and then closing accounts. Not an issue if you're in credit and can take your business elsewhere. But if you have a significant overdraft, you could find yourself having to find a way of repaying it fairly quickly. Plus all the hassle of setting up standing orders, direct debits, etc. with another bank. And if your finances are half as chaotic as mine........

I'm no expert on this but, from what I understand, banks are entitled to levy charges on you in line with their terms and conditions (updated versions of which they MUST send you). However, those charges must be fair and proportionate - £30 for a standard computer-generated letter is neither.

spot on

Over the last couple of years, people have been going through the process of reclaiming unfair charges using template letters available on numerous websites. I believe there have been legal challenges from the banks, though most seem to just pay up and - if the jury is proverbially still out - it appears to be favouring the customer.

exactly. Every claim made now gets put on hold, pending final ruling. But make it anyway, it'll get processed faster.

One problem I have heard of though, is of banks paying up and then closing accounts. Not an issue if you're in credit and can take your business elsewhere. But if you have a significant overdraft, you could find yourself having to find a way of repaying it fairly quickly. Plus all the hassle of setting up standing orders, direct debits, etc. with another bank. And if your finances are half as chaotic as mine........

might have been true in the very early stages of this (when banks were paying out without question), but almost certainly not the case now.

so the first thing i should do is...? (many thanks)

I got hit with £125 for over draft a couple of weeks ago (HSBC)! Albeit, it was for excessive over drafts (less than a half-dozen), but wtf. It's never for longer than a day or two. Criminals. Trying to stop me from drinking beer when I have no money in the bank.

yep, Highly Scandalous Bank Charges.

The flipside is that after it all blows over, the banks will be charging everybody for everything instead of just kicking a minority around the room for obscene and unfair amounts of money.

I got hit with £125 for over draft a couple of weeks ago (HSBC)! Albeit, it was for excessive over drafts (less than a half-dozen), but wtf. It's never for longer than a day or two. Criminals. Trying to stop me from drinking beer when I have no money in the bank.

precisely. and it's not as if you don't have the right to some more money, just because your account is at it's limit. somebody needs to tell these fuckers that they aren't just in it for the profits.

Do as Salmonchild says. Just go into your branch and be polite yet firm with them.

When I got stung for £60 for going overdrawn by a couple of quid, because of an unexpected direct debit when I was in between jobs, NatWest credited it back after just being polite and explaining the situation.

Not an option with many banks at the mo, I applied about a week after the whole "test case" thing kicked off and all banks are now just sitting on the complaints until there told they have to pay. As they've appealed the decision it could be a while. Although they MUST act now if your in hardship (see the original linky above)

precisely. and it's not as if you don't have the right to some more money, just because your account is at it's limit. somebody needs to tell these fuckers that they aren't just in it for the profits.

Were you being ironic on top of my irony? 'cause that's just a bit much.

Not an option with many banks at the mo, I applied about a week after the whole "test case" thing kicked off and all banks are now just sitting on the complaints until there told they have to pay. As they've appealed the decision it could be a while. Although they MUST act now if your in hardship (see the original linky above)

Ah right, didn't know that. Was over a year ago, maybe.

It amazes me how banks will get on their high horses when a customer goes a small amount overdrawn, yet they'll chuck students like myself with no collateral whatsoever and no full time employment a £1250 overdraft and a credit card :S

Ah right, didn't know that. Was over a year ago, maybe.

It amazes me how banks will get on their high horses when a customer goes a small amount overdrawn, yet they'll chuck students like myself with no collateral whatsoever and no full time employment a £1250 overdraft and a credit card :S

A very big +1 to that. They should never have given me an account. You're also forgetting to add 'interest free' to that sentence!

check out penaltycharges.co.uk ... good site with instructions and template letters to download etc..., and i think its the first site/campaign that kicked this whole thing off! they helped me claim back just on over a grand in charges last year... including statuary interest fees, legal fees, and ahem what i called admin fees! get in!! Yes, it will be a while before a decision is made, but you can still start your claim!

http://www.penaltycharges.co.uk/