-
Posts
-
Most charges the banks make on everyones accounts are illegal under an act of 1999 something like that anyway. Well i have just in the last few weeks contested what my bank charged me for my overdraft rate. Basically they wanted to charge me £120 for going over my overdraft which i thought was daylight robbery so i wrote them a snotty letter (like you do) and i recieved a letter today from the bank which stating that ‘its in our best interest not to persue this claim’. What i really wanted them to do is accept liability for trying to rip me off in the first place fat chance tho!
Anyway im so fed up with them doing what they want i think everybody should contest what they get charged. It is against the consumer act for them to charge more than their administration costs for your account and they shouldnt get away with it. £30 for going over! no way they have no right to charge anyone that amount.
My bank made a whopping 2 billion profit in the 1st half of this year because it robs off people who go overdrawn theres a few good sites out there to get advice from aswell so take a look if your in that position, you can backtrack your claim from 6 years ago before it reaches a cut off point.Thanks,
MT1 :twisted: :DMe too magoo mine pi55 me right off!!!!! :evil:
i wrote to all my credit card companies when the recommendation came out and received compensation payments of 300 quid, but knowhere near the charge amounts that i had accumalated over 6 years.
i know barclaycard and others have now reduced their charges to 12 quid….. im wondering when the banks will follow suit. its totally irresponsible of them to charge 39 quid for an unpaid item and they call it an administration charge…. its irresponsible of them to charge it and not pay the damn thing!!
1. Bank charges are extortionate – thats how they make their money- YOU are their customer, profit is made from customers, it’s called business!
2. Most people know their bank charges for many things including an unauthorised overdraft
3. Most people slip into the red (me included) occasionally- it happens!
4. Just agree a bleeding overdraft (£100 should do) n you won’t have to pay
5. Most people do not know how much they spend each week
It ain’t sanctimonious to say everyone should be careful with money- like a lot of other recent threads- it’s individual responsibility.
I know its everyones own responsibilty to keep their finances in order………….but there are circumstances that cannot always be accounted for……………..ie ill health, redundancy, accidents etc………………
I feel then that it is easy to fall behind and the bank then sending you letters at £35 a time does not help.
Before you know it you owe them hundreds of pounds and your behind with the bills and you are fighting to keep eveerything a float causing more stress and worries.
The elderly are alo particularly vulnerable to this………………
So come on banks look at each individual case and decided things on merit not just because you have ther might and can do it.
Well I saw this topic and signed up just to post as I thought I might be able to help.
You are correct to say that the bank charges over and above the cost of your contractual breach is in fact illegal. There are many people currently making claims to banks for charges dating back as far as 6 years by requesting statements for the last 6 years using the £10 Data Protection Act method. full details are on the bank action group site; http://www.consumeractiongroup.co.uk/
My boyfriend is currently in the process of claiming £790 from HSBC, of which they have already offered 95% of this back in settlement but without admiting liability. (if they did that they would have to refund a lot of people without question :wink: ) As this isn’t the 100% he has issued them a Letter Before Action now, and intends to start small claims court proceedings against them for the full amount. Once this claim is in, he is also entitled to something like 8% interest per year, pro rata from the day each charge was applied, this for him is another £120 or so.
The nature of small claims proceedings means that the worst case scenario is that they bother to pay for a soliciter to attend (which is highly unlikely anyway) to which they can’t claim the cost of the soliciter even if they do win, therefore he would only lose the amount it cost to put the court action through (£50 for small claims court iirc, and u can start the action online using moneyclaimonline).
If you head over to the bank action group site u’ll see lots of people whove claimed THOUSANDS from various banks and credit card companies for “illegal” charges. 99.99% of the time the bank will settle out of court for the full amount it seems!
Hope this helps :)
max
Bit of advice……………
Always ask your bank to refund your first charge …..most have discretion to refund at least one charge per year per accountholder………don’t shout and get abusive just ask…..you will be surprised !!!
Secondly, if you have had numerous charges over the last 6 years …….challenge the amount of the charges ……the penalty itself is legal as it is in the terms and conditions of the account when you open it………what is called into question is the amount of the charge itself………write and ask for a propotionate refund…………take it from me a lot of banks are refunding up to 70% of charges within 4 weeks of challenging on an indivdual basis…..
Don’t shout at the bank staff they are just doing their job …..okay ???
:( :(My bank are offering a free cd……
as illegal as it may be my friend works for my bank and has often cancelled any charges on my account
Get involved in this discussion! Log in or register now to have your say!