Bank Charges

[warrenpeace]

I remember here or on KT a thread with advice regarding how to get out of paying bank charges. A colleague has been charged £40 as a result of going £4 overdrawn. Has anyone been in that position and had the charges waived or reduced?

[Slim]

I don't know of any official proceedure but I complained a lot until they let me off! I also then changed my bank account to Alliance & Leicester and have never looked back. My old bank was part of the RBS group and the fuckers made £6 billion pounds last year. I hate them.

[JRG]

I remember here or on KT a thread with advice regarding how to get out of paying bank charges. A colleague has been charged £40 as a result of going £4 overdrawn. Has anyone been in that position and had the charges waived or reduced?

Search the site as there is something on here about reclaiming the charges. I started the thread. I'd do it but I don't know how to post a link.

:handshake:

[PTP]

the only way I know off - as slim suggests - is the old fashioned kick up a fuss way - blag the bastards saying you are going to transfer to another bank, the shit heads will soon change their tune

[warrenpeace]

Thanks all, much appreciated. :handshake:

[mick the click]

Hold on - there's a very 'busy' but great site - about the bank charges rip-off...it seems to work too. I'll just go and find it. Basically you can get 6 years worth of charges back from credit cards and banks. Back in a min...

[mick the click]

Ah...

http://www.consumeractiongroup.co.uk/forum/bank-action-group-against/

there we go! Great information on here - people have got £ 000s back off the thieving scumbags.

The missus threatened her bank with it (about £2 over limit for a day and a fine of £30. She got around £120 back after just a phone call - but if you read on (and there's a lot to read) it really goes into detail.

[Paul.S]

Banks are only legally allowed to charge you for costs incurred on their side which has been verified with the financial institution. They cannot make a profit from these fines.

[mick the click]

Exactly - the gist of the argument from The Consumer Action Group and The Bank Action Group (see above link) says that
if you threaten to take banks etc to court they back down because it will reveal how little it does cost them and how much ££ they make.

[CharlieMansonsSquint]

I remember here or on KT a thread with advice regarding how to get out of paying bank charges. A colleague has been charged £40 as a result of going £4 overdrawn. Has anyone been in that position and had the charges waived or reduced?

Same has happened to me.

£6 pound monthy service charge, put me into the red by a £1.50. The bastards charged me £26 for going into overdraft. By a £1.50!!:rant:

I got them to refund me, after 3 phone calls. If a service charge of theirs puts you into overdraft, then they dock you, and you complain, they should always refund you.

But you've got to watch these bastards 24/7. Any chance they get to rip you off.

[animal magic]

i got charged £681 in total over about 6 months and wrote a letter threatening the bank with legal action and they ended up giving me back £500

[Paul.S]

A bank will figure out that administrative charges for a certain "fault" will cost £xx.

This figure will be checked with the financial institution, and if they agree with the bank, this is all they're legally allowed to charge you for that paticular "fault."

[nobbylad]

Goto www.moneysavingexpert.co.uk. The site is a genuinely run free site that helps you take the theiving shitehawks to the cleaners.

If you sign up for the newsletters, you get to hear about some good offers.

The boards tend to be full of very scrooge-like people, but in the end of the day, it's all about getting your moneys worth.

:handshake:

[Red_Polo]

I remember here or on KT a thread with advice regarding how to get out of paying bank charges. A colleague has been charged £40 as a result of going £4 overdrawn. Has anyone been in that position and had the charges waived or reduced?

At some point in 2007 I will be claiming back in excess of £400 in bank charges that I've paid to Barclays over the years. The charges are illegal and you can demand they are paid back.

Clicky (http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1141050760,24632,)

You just need to make sure you have a suitable account set up at another bank in case your bank demand you close your account with them once you've screwed them over (not common policy but not unheard of either).

[AnfieldForever]

I've just paid off my MBNA account and will be trying to claim back the charges (around £900!!!) Even if it's your fault, and you were taking the piss, you can claim back because they shouldn't be charging you as much as they do!

[mick the click]

Moneysavingexpert has just come up with a quick guide

http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1141050760,24632,

[Craig_H]

the only way I know off - as slim suggests - is the old fashioned kick up a fuss way - blag the bastards saying you are going to transfer to another bank, the shit heads will soon change their tune

I recently had this, and did the above - the furthest NatWest would go, was to halve the charge from £28 to £14. I spoke to two different managers and neither would waive the whole charge. I said i'd close the account and go elsewhere, and they just basically said tough. It's 'not the banks error' was their line.

Suggestions?

[Craig_H]

Banks are only legally allowed to charge you for costs incurred on their side which has been verified with the financial institution. They cannot make a profit from these fines.

I said that to them, but they said the bank's policy and (agreed by me) terms and conditions state that an unauthorised overdraft warrants a charge, so basically tough sh*t.

[carheex]

I remember here or on KT a thread with advice regarding how to get out of paying bank charges. A colleague has been charged £40 as a result of going £4 overdrawn. Has anyone been in that position and had the charges waived or reduced?


simple solution - tell your friend to read the terms and conditions of their account so they won't make the same mistake again.
I've heard that is the bank do waive charges, it can actually appear on your credit check as a failed payment. Make sure it's worth all the hassle first - after all, if you've gone into the red, whose fault is it?

[cadmium]

Natwest once tried to charge me for with drawing cash when I had more than enough funds in my account. i threatened to cancel my accounts and move to another bank, and then they suddenly decide that it was there mistake, much happier with my new bank though

[warrenpeace]

The outcome on my colleague's problem was a full refund of a £40 charge.

I just drafted a letter saying they are obliged to declare the actual cost of the overdraft as agreed with their governing body and must refund the rest, sent it to their (Halifax) complaints address and a refund was credited within a few days.

So result. Thanks folks :handshake:

[mick the click]

simple solution - tell your friend to read the terms and conditions of their account so they won't make the same mistake again.
I've heard that is the bank do waive charges, it can actually appear on your credit check as a failed payment. Make sure it's worth all the hassle first - after all, if you've gone into the red, whose fault is it?

Sanctimonious or what!? :whatever:

Nice one Warrenpeace!

[warrenpeace]

simple solution - tell your friend to read the terms and conditions of their account so they won't make the same mistake again.
I've heard that is the bank do waive charges, it can actually appear on your credit check as a failed payment. Make sure it's worth all the hassle first - after all, if you've gone into the red, whose fault is it?

For what it's worth I agree with you - I've never gone into the red, although your "solution" is actually a preventative measure so a bit late in this instance. But anyway, if you are friends with someone you try to help them out. Don't you?

[JohnOK]

I'm a Bank Manager and i deal with customers wanting charges refunded every day. The bank will always refund a charge if it is your first charge or it is their error (e.g. they haven't cancelled a Direct Debit). They may also use their discretion depending on your relationship with them (such as a Mortgage, £500+ in savings).

There are a few ways round it though if you can't get them back there and then:

1) Make an official complaint either in writing, in person or on the phone. They then have various procedures to follow, but if it goes to the customer relations department they will usually offer at least half of the money back. Just always reject their first offer as they will usually come offering more.

2) Threaten them with legal action. They may make out they will go to court but they never will even if they appear they will. They will offer you all the money back eventually.

One last thing. If they do refund your charges after a complaint, then usually they will make you aware that the next time you are charged they will close your account down and legally they can do that no problem.

If anybody needs any more advice, then PM me and i can tell you what to do in more detail.

[Red_Polo]

Nice one mate :handshake:

[JohnOK]

Nice one mate :handshake:


Good luck getting your charges back from Barclays. :handshake:

[Red_Polo]

Good luck getting your charges back from Barclays. :handshake:

Thanks. Just waiting to reduce my debt so I can have another current account with a different bank ready to change over once I screw Barclays. :)