Reclaiming bank charges

Soulstarr · (#1 (**permalink**))

I've just watched Tonight with Trevor Mcdonald and they were talking about people who have campaigned to recover the ridiculous amount in funds that they have been charged for going overdrawn. Apparently, as the banks are profiting from this, the charges are in actual fact unlawful.

If this is the case, I'm owed a shit load of money! I've jotted down some notes from the programme about how to start the proceedings and just wondered if anyboyd else has gone through this are is considering reclaiming?

Let me know what your experiences were.

facetygal · (#2 (**permalink**))

How can it be unlawful, if u are overdrawn it's not ur money ur using but the banks, so they have a right to take it back with interest. Just the same as if u took out a loan isn't it?

Vezz. · (#3 (**permalink**))

Facetygal,

Normally I'd agree, but that's not the case.

How is it justified charging £50 for being £5 overdrawn? Or, as in my case with Barclaycard, by going £1.75 over limit, I'm charged £20.00?

Their charges are too rigid. Plus they make a packet out of our accounts, simply by not paying interest on cheques until they clear - in some case 7 days after the cheque has been deposited!

It's legalised robbery if you ask me.

facetygal · (#4 (**permalink**))

When I had a prearranged overdraft limit with barclays I wasn't charged interest so seems like things have changed drastically. Barclaycards apr is something like 17.5% so no I'm not surprised you were charged £20. Moral of the story: read the small prints, I've learnt the hard way when £150 was taken from my account without warning.

Blackthought · (#5 (**permalink**))

Best option is to NOT use overdraft, then you won't have to worry about how much interest they are charging.

Soulstarr · (#6 (**permalink**))

The reason they are unlawful is that apparently, banks are not allowed to profit form penalty charges yet they clearly to. They charge you £20 in "admin fee's" when really and truely, its the cost of an automated letter which, including postage, surely can't come to more than 50p. The profit they gain is what makes it unlawfull.

Vintage · (#7 (**permalink**))

I have an account with a certain online bank which I use for food shopping - I went overdrawn by a little amount without realising and got charged an exorbitant amount because of their DAILY EXCESS CHARGES - Mind you they don't send out statements and I didnt realise for a while as I had internet problems, all the while the amount was racking up. I called to complain but they basically just told me I needed to keep an eye on my account!! Needless to say I'm getting rid of them as soon as... Banks take the p*$$!!

Melissa · (#8 (**permalink**))

Got the same problem with HSBC

I went on holiday earlier in the year and had set up a one-off standing order to pay my the bills whilst i was away - it didn't go through!

So when my bills came out of my account there was no money to pay them and they all got 'recalled' the bank charged me £30 each bill - there were 8 of them £240!!

These charges put me over my overdraft, so they charged me for that too - another £50 plus interest!

Phone calls and emails have not been answered, no one is claming responsibility, they're taking the blatatnt p!ss!

lilsoulful1 · (#9 (**permalink**))

Melissa wrote:

Quote:

Got the same problem with HSBC

I went on holiday earlier in the year and had set up a one-off standing order to pay my the bills whilst i was away - it didn't go through!

So when my bills came out of my account there was no money to pay them and they all got 'recalled' the bank charged me £30 each bill - there were 8 of them £240!!

These charges put me over my overdraft, so they charged me for that too - another £50 plus interest!

Phone calls and emails have not been answered, no one is claming responsibility, they're taking the blatatnt p!ss!

Quote:

I know how you feel with that £240, you dont wanna pay it cause it infair and you don't wanna give them the gratification of that money. British banks are big time pi*s takers

Quote:

Do you know the banks made £4.5 billion alone last year from bank charges ! It's disgusting, and Im all up for it, to advocate against this because these charges they put on are terrible. I went over my limit on my halifax credit card and now I'm paying a £50 charge... WTF ! These people are disgraceful cause they will rob u blind, and not then mash up your credit and have people killing themselves over debt. The law needs to review this situation cause it's not healthy for the public. The fact of the matter is, It's not like the bank CAN'T STOP you from going overdrawn, it ridiculous, I mean, the whole system is completely operated by a system and your telling me these banks can't just reject any transactions if there is no money in the account. I don't do overdrafts AT ALL, cause they are daylight robbery. Banks want to rip you off hard, they wanna find a way sumhow to make you go overdrawn so they get the money, it's wrong and there need to be strict rules enforced with this rubbish.

Black Lion · (#10 (**permalink**))

Barclays got me bit this year.

Started out as 17 quid and now they're phoning me for 70. I'm not picking up the phone can't stand debt collectors. Put in a tenner last week but I don't wanna pay them for intrest. Thing is I don't/didn't use the account and forgot about it now some prat is calling me up trying to bully me into paying, puttin bass in his voice

>8( can't stand that >8(

Its a bump from the start all you get is a bunch of digits on a screen. Why can I only take out 250 a day while the rest is forked out in mortgages and loans ? Its my money... don't wanna give it to someone so they can give it back in monthly fees while the bank keeps a central reserve that means I can only take out 250 a day... don't care if me taking out the worth of my house in cash will off set some, 'balance' in an economy built on loan repayments, bunch of f00k'in vampires in my opinion.

Wonder how much its cost them in phone calls, letters and employees time to get back 70.46?

P.s; "Its all mathmatics" - Mos Def.

lilsoulful1 · (#11 (**permalink**))

Rebel-Lion wrote:

Quote:

Barclays got me bit this year.
Started out as 17 quid and now they're phoning me for 70. I'm not picking up the phone can't stand debt collectors. Put in a tenner last week but I don't wanna pay them for intrest. Thing is I don't/didn't use the account and forgot about it now some prat is calling me up trying to bully me into paying all puttin bass in his voice. >8(

Its a bump from the start all you get is a bunch of digits on a screen. Why can I only take out 250 a day while the rest is forked out in mortgages and loans ? Its my money... I don't wanna give it to someone so they can give it back in monthky fees while the bank keeps a central reserve that means I can only take out 250 a day... don't care if me taking out the worth of my house in cash will off set some, 'balance' in an economy built on loan repayments, bunch of vampires in my opinion.

Wonder how much its cost them in phone calls, letters and employees time to get back 70.46?

"Its all mathmatics" - Mos Def.

Quote:

The whole system is Shi* ... It's literally built up on debt, and I swear I ain't gettin caught up in it. It's either, student loans, credit cards, mortgage, and so on. I hate credit cards cause they are the worst. Honestly, I would never like another credit card in my life. They have rinsed so much money out of me it's unbelievable !

Backatya · (#12 (**permalink**))

I heard something on the news today about one bank (can't remember which) closed the accounts of customers who had successfully reclaimed charges (amounting to around £50) from it. The bank sent each customer concerned a letter saying theiraccount would be closed in 30days. Don't be surprised if other banks do this in response to 'people power' claiming back thatwhich they are entitled to.

Gee, and these people have the gaul to talk about'corruption' in other countries?

Respect

Soulstarr · (#13 (**permalink**))

Backatya wrote:

Quote:

I heard something on the news today about one bank (can't remember which) closed the accounts of customers who had successfully reclaimed charges (amounting to around £50) from it. The bank sent each customer concerned a letter saying theiraccount would be closed in 30days. Don't be surprised if other banks do this in response to 'people power' claiming back thatwhich they are entitled to.

Gee, and these people have the gaul to talk about'corruption' in other countries?

Respect

I heard this also but the stubborn part of me thinks it would be worth it.