I know I am probably the last person to try and do this... but I am about to start the process of reclaiming back the penalty charges from the bank... I have just printed off all the information I need from the BBC website (public service at its best ) So I think I am just about ready Had a collegue whose daughter has just gone thru it and have just gotten 2500 pounds back from Lloyds..... Has anyone else gone thru it? How did the bank treat you during and afterwards??? I am actually quite nervous about it all.......
The bank will probably cancel your account after they refund the charges, so just make sure you set up a parachute account at another bank just in case. Good luck and go for it I say
Blow me down Fabio-I sent my first letter off this morning!! I've taken advice from the moneysavingexpert site and they have loads of success stories in the forums there. Don't expect an easy ride and don't be fobbed off! Good luck with it!!! Minx x x
thinking about doing this myself as I have just been charged 30 quid for them paying out a direct debit I had cancelled :shock: Have got the direct debit money back however, insisting I pay the charge :shock: crazy, i say feckin damn right crazy good look fabio
Quote by poshkate The bank will probably cancel your account after they refund the charges, so just make sure you set up a parachute account at another bank just in case. Good luck and go for it I say
Funny. Never had a bank charge for anything. Mind you, I never go overdrawn either....and have enough funds to cover outgoings. Looks like I may have to start paying my bank to look after my account soon....because other can't get it right the rest have to pay more.... 1+1 = 2 2+2 = 4 etc etc etc etc
Quote by Lost i just got my last 6 years statements from bank so it would be great if someone could point me towards a step by step explanation of what to do next?
Quote by JTS Funny. Never had a bank charge for anything. Mind you, I never go overdrawn either....and have enough funds to cover outgoings. Looks like I may have to start paying my bank to look after my account soon....because other can't get it right the rest have to pay more.... 1+1 = 2 2+2 = 4 etc etc etc etc
Whilst it must be nice to live the perfect financial life you do, unfortunately your free banking is being subsidised by those who do occasionally go overdrawn and then get shafted royally for it. This whole move towards claiming back charges is not about paying nothing for the mistake you make, its about paying a fair amount that reflects the cost to the bank of administrating the account. Not £35 for something that bank insiders have stated cost's no more than £5. So yes 1+1 does = 2...... But a £5 cost to the bank does not equal a £35 charge to the consumer....unless its a penalty charge....which is ever so slightly illegal under the banking code and is in all probability the reason no bank will defend a claim in court.
Go for it!... We did this in February and by April had successfully reclaimed a large amount back. They will drag their heels, they will write and say you have to wait 8 wks etc.. but press on with your claim and remember keep copies of each letter you send out. Good luck pet!
Hiya Fabes I went the other route, having accrued a fair amount of charges over the years, usually due to whoever the ass responsible for paying my wages was at the time deciding it would be ok to pay me a few days late and thereby bouncing d/d’s and s/o’s all over the place. I downloaded the relevant information and armed with this went to visit my local bank manager, after a few long drawn breaths, umm’s and ahhh’s he quickly decided that it would be in everyone’s interest just to refund the illegal charges and be done with it. I guess I’m lucky in the sense that I have an understanding / sensible bank manager who has the unusual trait of being down to earth, straight thinking and straight talking who refuses to be manipulated by head office and has the balls to take decisions upon himself. That said, I have heard some horror stories of banks resorting to all kinds of bully tactics and as Kate said, some will even refuse to do business with you once they have paid you out, so getting a new account at another bank was very good advice. :thumbup: Pete
Quote by JTS Funny. Never had a bank charge for anything. Mind you, I never go overdrawn either....and have enough funds to cover outgoings. Looks like I may have to start paying my bank to look after my account soon....because other can't get it right the rest have to pay more.... 1+1 = 2 2+2 = 4 etc etc etc etc
I'm furious at this!!!!!!!!!!!! How high and mighty! My husband if self employed, if he's poorly he doesn't get paid. We were once charged for going being short of 99p for a direct debit (which the lovely bank returned), and we were also charged because the took us overdrawn.
Another good website is the consumer action group, We are planning on claiming our charges back too and this website has individual threads for each bank and all the letter templates that are needed. Good luck x
Quote by jaymar Funny. Never had a bank charge for anything. Mind you, I never go overdrawn either....and have enough funds to cover outgoings. Looks like I may have to start paying my bank to look after my account soon....because other can't get it right the rest have to pay more.... 1+1 = 2 2+2 = 4 etc etc etc etc
I'm furious at this!!!!!!!!!!!! How high and mighty! My husband if self employed, if he's poorly he doesn't get paid. We were once charged for going being short of 99p for a direct debit (which the lovely bank returned), and we were also charged because the took us overdrawn. What people should remeber is to be nice to everyone on the way up cause they sure as hell will remember you on the way down ;-)
I got so far £5000 back from Halifax and £1900 from HSBC... it's all gone into paying off my debts, but was part of the cause of the debts in the first place... plus I was a feckless fuckwit as a yoot. try Moneysaving Expert for sure, Martin Lewis is god! also Consumer Action both previously mentioned... but here's the link:
(if posting the link is a no-no then I'm sorry for breaching rules, but the banks have scalped people for years, especially financial numpties like me! if it helps one person to wise up to this legalised theft and help one more person like me get a little more out of the harrowing hell that is debt... then I'll take my slapped wrists like a man) xxxx
Quote by jaymar Funny. Never had a bank charge for anything. Mind you, I never go overdrawn either....and have enough funds to cover outgoings. Looks like I may have to start paying my bank to look after my account soon....because other can't get it right the rest have to pay more.... 1+1 = 2 2+2 = 4 etc etc etc etc
I'm furious at this!!!!!!!!!!!! How high and mighty! My husband if self employed, if he's poorly he doesn't get paid. We were once charged for going being short of 99p for a direct debit (which the lovely bank returned), and we were also charged because the took us overdrawn. I hear ya, that was my slippery slope... and then you end up using your overdraft like it's balance, you take loans to get out of debt (not the obviously sharky ones like on morning telly, but the nicely dressed up ones from the "listening" bank)... the banks are a business, and they only exist to make money... people that "never had a bank charge"... well, full credit to you for managing your money tightly, but don't be fooled into thinking that you're enjoying free banking. you're banking for nothing on the revenues generated by other people that slip up here and there... get sold a "payment protection scheme", get divorced and lose out, get sick and behind on payments or some other misfortune that happens because "shit happens". don't think it's totally because we're useless or a scumbag... it's just life.
sorry for ranting... touchy subject for me though... and passionately want everyone to get their money back that was "stolen" from them... apologies for coming over like a nutter
I too feel I need to reply to this and to the post that JTS wrote. My family are clean, well brought up, working people. We don't smoke, drink (apart from the odd tipple every now and then)or take drugs. Every penny we earn goes on household bills, food, clothes and sometimes a holiday If we're lucky. I had bank accounts from the age of 18 until now and paid for the services dearly from sheer naievety in the early days to circumstances beyond my control in the days when I knew how to run a bank account but was unable to run it in my favour, as has already been said Divorce, business problems (a direct reaction to terrorist problems) have all put me in this position from time to time. I now learn that all this time I have been paying ILLEGAL charges to banks instead of LEGAL ones. In other words I have been ripped off by what are supposed to be upright and dependable institutions. We have been down loan street, credit card close and all the other avenues many times and now seem to have finally seen the light. A couple of times in my life I have been guilty of wanting something that I could'nt afford but knowing that I had money on the way put it on plastic etc etc. I have been charged by the banks both for their mistakes, their errors (as well as my own) and then been told that as I did'nt notice them within a certain amount of time I could'nt claim any refund :shock: Now I have an account with a card for the wall with no overdraft and no credit card and there is no way on this earth that I would ever go back to doing it the old way. If I hav'nt the money I don't do it or buy it. Good for you JTS I'm really glad you don't have to worry about your finances, perhaps if you posted with as much thought as you run your bank account you would be more favourably received by some of us
Quote by JTS Funny. Never had a bank charge for anything. Mind you, I never go overdrawn either....and have enough funds to cover outgoings. Looks like I may have to start paying my bank to look after my account soon....because other can't get it right the rest have to pay more.... 1+1 = 2 2+2 = 4 etc etc etc etc
All power to you the financial god! . Unfortunatly we are not all as lucky/organised financially well off as you. I do not believe you will have to pay your bank to look after your account because of everyone elses incompetence, you may however get asked to pay a fee soon as banks are greedy bas***ds!.
Quote by JTS Funny. Never had a bank charge for anything. Mind you, I never go overdrawn either....and have enough funds to cover outgoings. Looks like I may have to start paying my bank to look after my account soon....because other can't get it right the rest have to pay more.... 1+1 = 2 2+2 = 4 etc etc etc etc
Yeah yeah yeah.... Great advice from a man on a swinging site who smokes when he is out drinking but doesn't drink.. Seems like you not everyone pays great attention to the finer details in life.. to sit all high and mighty usually means a greater fall when you do ... and you will! I bet the ladies are queueing up to bed you lol.. Mike...
Well folks, we've been meaning to do this for so long and this thread reminded me to get my ass in gear. I phoned up the financial ombudsman and they were fantastic! They took my details ie account no and name and are actually writing to the banks on my behalf! How easy is that?! I just have to sit on my backside and wait! I'll keep you posted on how it goes, but they were very keen to help and very helpful with all my blonde questions! I'd definately recommend giving them a buzz. I also feel I have to comment on JTS post, you are very lucky to always have funds in your bank, I would have to say that the majority of people would have been illegally charged at some point even from going 20p overdrawn at the end of the month. You are lucky to have enough savings to account for unexpected circumstances outwith your control which often people don't. In my case, I was ill as a student and had to defer a year whilst at uni. I had a student current account with overdraft facility which i desperately needed as working part time with a student loan is not enough to cover basics! Unfortunately when i was ill, my student loan stopped and so they decided to cancel my overdraft (which they were within their rights to do). However, where was I supposed to suddenly get the money to pay for this overdraft in full from? (bearing in mind I was ill so not working, but still classed as a student so not on benefits) The charges spiralled and i had to open another overdraft account to pay and borrow money of my parents. If you don't have the money for a charge once, it's often unlikely you have the money for a charge the next time, especially when the charges amounted to more than i earnt at the time!It very quickly spirals and builds and it is usually the poorest people that are hardest hit. I would in no way say I was particularly poor either, just general joeblogg student at that time! grrrrrrrrrrrrrrrrrrrrrrr
don't do financial, I let the bank do it. My current account is tied to my savings account. if there isn't enough in the current account the money is moved from the savings account. And there is the authorised overdraft if shit happens. As for free banking....well, it never really was free, the charges are hidden that's all. They'll get their money back from you, one way or another. Everyone needs banks, in fact....since they charge your employer for paying the money into your accounts, and the retailers for letting you pay by card, they are already getting the money back right now. Banks may well be robbings b'stards, but they are just like every other business. Out to make money. As for "the guy on a swinging site" bit....I'm the guy on the dogging site part of a swinging site. I don't "do" swinging, I "do" dogging. The women aren't forming a line to bed me, not even a short line, but that isn't what I want anyway......In fact...I'd turn them down ! (and guys as well !)
More possible good news for some! :bounce: I was reading up on the Data Protection Act (DPA) when I came across this information about unfair credit card charges. It's very interesting and could mean some money back for some people. Unfair penalty charges. On 5 April 2006, the Office of Fair Trading announced that any penalty charge over £12 in a standard credit card contract was likely to be unfair. This led to large numbers of people being advised to ask their credit card providers for information, held as part of their old credit card statements, to find out how many times they have been charged more than £12 so that they can reclaim the difference. (You can access more information by visiting the Office of Fair Trading's website.) It is important to note that this ruling applies only to credit card charges and not to any other financial services. The unprecedented demand for access to information held as part of credit card statements is ongoing and many financial institutions are struggling to keep up and supply the information within the 40 days allowed by the Data Protection Act. We are monitoring this closely and are in regular contact with the financial institutions to make sure they are taking action to improve the situation. When and how to complain. Contrary to popular belief it is not necessary to request the information held on old credit card statements in order to reclaim any unfair penalty charges. The latest advice from the Financial Ombudsman Service (FOS) is that consumers wishing to dispute their penalty charges need only provide the financial institution with details of the credit card account and the dates bewteen which the charges were incurred. The FOS is an independent, free service set up by Parliament to settle disputes between businesses providing financial services and their customers. The FOS is therefore the most appropriate organisation to assist you when seeking to settle disputes about unfair penalty charges with a financial institution. The FOS can be contacted on Monday to Friday from 9am-5pm. We do however recognise that in pursuing the unfair penalty charges a valid subject access request may already have been made to a financial institution, and although the information requested may not be needed to reclaim any unfair penalty charges, financial institutions are still required to respond to your request. If you have: • asked your credit card provider for copies of your statements in writing. Please remember to sign your request, • paid the fee (if required), • waited for more than 40 days and you have not received any response from them, we recommend that you contact them again to find out why. If their response to your further enquiry is unsatisfactory then you can make a data protection complaint using the data protection complaint form. When you send us your form you must also send us: • a copy of request for statements, • copies of any other related letters you have sent to your credit card provider and, • confirmation of when your cheque or postal order was cashed. We will not be able to deal with your complaint without this information, and we must stress that we would only be able to consider a complaint about a failed subject access request, it is the FOS that would deal with any dispute over unfair penalty charges. What will the ICO do? We do not hold your statements and so we cannot send the information to you. But if it looks like your credit card provider is likely to have breached the requirements of the Data Protection Act by not responding to your request in time, we will write to let them know. We will also instruct them to provide you with the information you are entitled to. Due to the number of complaints we are receiving about failed subject access requests we are writing to the affected financial institutions on a weekly an organisation is persistently failing to comply with the Act, the matter will be considered for regulatory action in line with the Commissioner’s’ 'Strategy for data protection regulatory action'. In such cases, the Commissioner will attempt to resolve the matter by informal regulatory methods but he may use his formal enforcement powers in cases where such informal methods prove unsuccessful. For more information please visit
Anyone going to claim charges from their banks I have just heard this... The financial Ombudsman are making most of the major banks go through a court case. Depending on the outcome, your claim will either have to be paid or not. Claims will be stalled until the court case has come to a conclusion whether you have submitted them thru the bank or the Ombudsman itself. Love FIRE xx
Can I please point out without getting slated....the charges are not illegal, they are unlawful and there is a difference. Good luck to all those claiming these unlawful charges back.
We just made it! On Friday it was announced that all claims were being halted while the test case went through court, to find out if the charges actually are unlawful or not. It's the OFT vs the major banks. Somehow, we are the jammiest buggers, and both heard back from our banks on the Friday! We;ve both managed to get about £1600 between us- a pretty good bonus for just sitting on our bums for 2 weeks, but unfortunately the courts may now come to the decision that the banks are ok to charge so much in the first place, so anyone thinking about claiming- you jmay be too late :-(
I agree that the unlawful penalty charges are being used to finance the banks - but there is an important point to remember. When you put your money in a bank you are lending it to them. They don't store it in boxes or anything. They put it is a big pot (ok it's all electronic now but it still works the same way) and that pot is invested in all sorts of things from orange juice, to raw materials to other banks (as far as I know). They get interest/dividends on these investments. So while you think you are getting free banking, you're not, you are actually paying for it through the investments they are making with your money. Banks whose investments fail cannot return the money to the lender (you) and you lose it. This is exactly what happened in the crash in the 20's in America. People wanted their money back, but it had all gone. Sorry long post - summary - they make money from your money so when they insist you change to a pay-monthly bank account tell them where they can stick it and move to a bank (or probably Building Society) that doesn't charge for using YOUR money to make THEIR profit.
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) So I think I am just about ready 
and thereby bouncing d/d’s and s/o’s all over the place.
