Have you ever been charged by your bank????
22-03-2006, 12:38 PM
#1
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Have you ever been charged by your bank????
As above, I found out a couple of months ago that it is illegal for banks to charge you for returning cheques, direct debits etc of which some banks charge upto £39 per transaction. I went through the motions and got a cheque returned to me for £1010 this morning.
You can only claim upto 6 years of charges back!
I'll post up my letters and correspondence asap!
You can just change the details and get them sent!
You can only claim upto 6 years of charges back!
I'll post up my letters and correspondence asap!
You can just change the details and get them sent!
22-03-2006, 12:42 PM
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Bank charges are not legally enforceable. Penalty clauses in contracts in English (and Scottish) law for breach of contract aren’t legal if the penalty exceeds the actual cost of the breach of either party.
We all know that it does not cost a bank £25 to £39 to return a Direct Debit, Standing Order or cheque, and luckily so do judges, and indeed the banks. It’s purely a money making scheme, and a lucrative one at that – with estimates that the charges from the top 4 UK high street banks generated £3 billion alone. One in five bank customers incur these types of charges, and because it's a bank imposing them, most assume that the bank must be legally entitled to do so.
OK so what are the rules?
Under the 1977 Unfair Terms (contracts) Act, the sheer fact that ALL banks make these charges makes this a breach of the act (the example given is exactly that!).
This is also a breach of the 1999 Consumer Credit Act (Unfair Terms in Consumer Contracts - the OFT is already investigating the charges levied by Credit Card Companies) and possibly the Sale of Goods Act, and many others.
I will post the letters asap mate
We all know that it does not cost a bank £25 to £39 to return a Direct Debit, Standing Order or cheque, and luckily so do judges, and indeed the banks. It’s purely a money making scheme, and a lucrative one at that – with estimates that the charges from the top 4 UK high street banks generated £3 billion alone. One in five bank customers incur these types of charges, and because it's a bank imposing them, most assume that the bank must be legally entitled to do so.
OK so what are the rules?
Under the 1977 Unfair Terms (contracts) Act, the sheer fact that ALL banks make these charges makes this a breach of the act (the example given is exactly that!).
This is also a breach of the 1999 Consumer Credit Act (Unfair Terms in Consumer Contracts - the OFT is already investigating the charges levied by Credit Card Companies) and possibly the Sale of Goods Act, and many others.
I will post the letters asap mate
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22-03-2006, 12:58 PM
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Originally Posted by DaveEscos
am I the only one who's never been fined by their bank ? 
You lot should count yourself lucky tho, you get charged for every fooking thing with a Spanish Account. Everytime I take money out, pay money in, have statements sent out, transfer money, and not forgetting the 14 Euros per annum charge for the privilige of letting the Police monitor my Account for Tax evasion
22-03-2006, 01:02 PM
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I had a direct debit taken out on the wrong day, so i went £7.50 over drawn. The back decided to help my lack of funds by charging me £30 for going over drawn, and then charging interest on that too!
cheers!
cheers!
22-03-2006, 01:07 PM
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why dont people have overdrafts set up
I had a buffer set up of a grand and if i ever go overdrawn by mistake / error, this saves me the hassle of charges etc...
I had a buffer set up of a grand and if i ever go overdrawn by mistake / error, this saves me the hassle of charges etc...
22-03-2006, 01:21 PM
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So even if you are in the wrong by failing to make a payment on time etc. you can claim back the charges because it doesn't actually cost them that £25 overlimit fee or the £25 late payment "admin" fees?
This is superb if true. I could probably clear a debt that's been pissing me off a bit if I could reclaim all that stuff.
I'm paying the price of a reckless past
This is superb if true. I could probably clear a debt that's been pissing me off a bit if I could reclaim all that stuff.
I'm paying the price of a reckless past
22-03-2006, 01:24 PM
#21
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im with dave on this one, have a large buffer overdraft set up, mines £3.5k 
only due to the fact i get paid every 4 weeks, but the bills are monthly, so theres offten a few days of huge debt!
dont think ive ever been fined tho
only due to the fact i get paid every 4 weeks, but the bills are monthly, so theres offten a few days of huge debt!dont think ive ever been fined tho
22-03-2006, 01:30 PM
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Originally Posted by DogSmoke
So even if you are in the wrong by failing to make a payment on time etc. you can claim back the charges because it doesn't actually cost them that £25 overlimit fee or the £25 late payment "admin" fees?
This is superb if true. I could probably clear a debt that's been pissing me off a bit if I could reclaim all that stuff.
I'm paying the price of a reckless past
This is superb if true. I could probably clear a debt that's been pissing me off a bit if I could reclaim all that stuff.
I'm paying the price of a reckless past
If you do not keep all your bank statements you will need to send this letter first of which they only have 40 days to respond, failing to do this they will then occur 8% interest charge on your claim.
(your address)
[their address]
(date)
Data Protection Act disclosure request
Dear Sir/Madam
ACCOUNT NUMBER: xxxxxxxxx
Please supply me with a complete list of transactions and charges relating to my bank account since (WHEN EVER YOU WANT AS LONG AS LESS THAN 6 YEARS). Alternatively a complete set of bank statements for that period will be acceptable.
Additionally where there has been any event in my account history over this period which has required manual intervention by any member of your staff or any other person, I require disclosure of any indication or notes which have either caused or resulted in that manual intervention or other evidence of that manual intervention in relation to my banking business with you.
If you are unable to supply data relating to manual intervention because there has been no such manual intervention then please be kind as to confirm this in your response to this request.
I enclose the statutory maximum fee of £10. You have 40 days in which to comply. Furthermore, if I discover that you have levied disproportionate penalties against me then I shall be reclaiming them.
Yours faithfully,
(Name)
Once you have totalled the charges up, you will need to send this letter.
[your address]
[their address]
Request for repayment of charges
Dear Sir/Madam,
ACCOUNT NUMBER: xxxxxxxxx
My request
I am writing to ask you to refund to me the charges which you have levied from my account over the last XXXX years
I now understand that the regime of fees which you have been applying to my account in relation to direct debit refusals, exceeding overdraft limits and so forth are unlawful at Common Law, Statute and recent Consumer regulations.
Your responsibilites
I would draw your attention to the terms of the contract which you agreed to at the time that I opened my account. It is an implied term of that contract that you would conduct yourselves lawfully and in a manner which complies with UK law.
I am frankly shocked that you have operated my account in this way as I had always reposed confidence in your integrity and expertise as my fiduciary.
What I require
I calculate that you have taken £XXXXX plus £XXX which you have charged me in overdraft interest for the sum which you have taken. Total £XXXXX
Additionally you have entered a default notice against my credit record. This default occurred merely in respect of unlawful charges levied by you or was the result of impecuniosity caused directly by he taking by you of penalty charges which you had applied unlawfully to my account.
In addition to full payment of the sum mentioned above I require that you remove the default entry from the register. Please note that mere correction or amendment to the entry will not be acceptable.
My targets to resolve this matter
I hope that you will enter into a sincere dialogue with me about this matter and I am writing this letter to you on the assumption that you will prefer to do this than merely respond with standard letters and leaflets.
I will give you 14 days to reply to me accepting unconditionally my request in principle and letting me know a date by which I will receive payment.
If you do not respond or you do not respond positively within this time period, I shall send you a letter before action giving you a further 14 days in which to reflect. I believe that these targets are more than sufficient for a large company such as yours with dedicated staff and departments.
After that will be no further communication from me and I shall issue a claim at the expiry of the second deadline.
Yours faithfully,
[name]
They will not want this matter to goto court and will get back to you. The maximum amount of time the whole process will take prior to you getting your payout will be 80 days. You can offer an agreement stating you will accept a percentage within 7 days i.e if charges over the past 6 years are £1200, give them 7 days to pay £1000 and they will take this offer.
The banks do not want to goto court and have never taken it to court yet. You are best to keep your claim to under £5k to keep within the small claims bracket so that in the very unlikely case it did goto court then you would not be liable for any court charges.
22-03-2006, 02:00 PM
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Through a Financial Advisor that sorted my mortgage, Had to show him my statements, saw what had been going on and said, do you know this is illegal?
22-03-2006, 03:29 PM
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No problem fella's, since this i've looked into alot of things regarding all aspects of finance and got myself really clued up! If you wanna know anything alse, free credit reports, clearing your name, best loan's, best current accounts, credit cards etc, just send me a PM!
22-03-2006, 03:44 PM
#30
Originally Posted by Rick
Hang on - im confused. Surely the bank can charge u if there is no money in the account and a third party claims a DD u have setup?
dunlop
which bank was it mate?
anyone want to try it with Halifax and tell me how they did?
22-03-2006, 03:49 PM
#33
http://www.bankchargeshell.co.uk/
http://forums.moneysavingexpert.com/....html?t=115112
http://www.bankactiongroup.co.uk/
just a couple of sites i found .
http://forums.moneysavingexpert.com/....html?t=115112
http://www.bankactiongroup.co.uk/
just a couple of sites i found .
22-03-2006, 03:59 PM
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Originally Posted by Lambchop
Originally Posted by Rick
Hang on - im confused. Surely the bank can charge u if there is no money in the account and a third party claims a DD u have setup?
dunlop
which bank was it mate?
anyone want to try it with Halifax and tell me how they did?
This will work with any bank!
22-03-2006, 04:09 PM
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Originally Posted by Lambchop
so basically you claimed back ANY charge occurred on your account in the last 6 years? I think my GF could make a killing
22-03-2006, 04:40 PM
#40
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iv been charged about 2 grand inthe past 4 years i'm DEFFO going to try this!
any idea what address to write the letter to? (BARCLAYS)
i'm DEFFO going to try this!any idea what address to write the letter to? (BARCLAYS)