[Archived] Bank Charges/credit Cards/store Cards Etc

[Gav]

I'm sure some of you will be aware that a case was won some months back that has thrown the whole bank charge regime in to chaos and thousands of people have successfully claimed these charges back. The reason you can claim them back is because its been classed as unlawful in terms of the amount the bank/Credit card company charges you for going over drawn of writing to you to inform you your cc payments is late etc etc.

Not one person has failed in getting their money back so far but eventually the banks/cc companies will have to fight this so get your arses into gear or you may miss out. You can claim for the last 6yrs and the following website has letter templates and numerous case studies and tips to help you along your way.

http://www.consumeractiongroup.co.uk/forum/

[Modi]

I'm sure some of you will be aware that a case was won some months back that has thrown the whole bank charge regime in to chaos and thousands of people have successfully claimed these charges back. The reason you can claim them back is because its been classed as unlawful in terms of the amount the bank/Credit card company charges you for going over drawn of writing to you to inform you your cc payments is late etc etc.

Not one person has failed in getting their money back so far but eventually the banks/cc companies will have to fight this so get your arses into gear or you may miss out. You can claim for the last 6yrs and the following website has letter templates and numerous case studies and tips to help you along your way.

http://www.consumeractiongroup.co.uk/forum/

I think you'll find that this is a lot of hype, and the idea that "not one person has failed to get their money back" is a load of twaddle. There's been a few genuine cases which have been won on technicalities, but wholescale refunds have not and will not happen.

However, if you want to try, feel free.

[Gav]

I think you'll find that this is a lot of hype, and the idea that "not one person has failed to get their money back" is a load of twaddle. There's been a few genuine cases which have been won on technicalities, but wholescale refunds have not and will not happen.

However, if you want to try, feel free.

May I suggest you take a look at the website I’ve added and you'll find that not 1 person has so far failed to get a full refund Modi. The Halifax alone has paid out over 350k to 303 people who have filled in the survey on the site.

I've got £302 to claim and have been offered £150, I’ve turned that down and have now started court proceedings and I guarantee I’ll be paid out in full in the next 4wks. Debs has claimed back almost 2k and is waiting for their first offer. My mate has been paid out, £1900 on 2 accounts so don't tell me its a load of twaddle.

[Bing]

My sister claimed back £900. She was originally offered £500 but rejected that. She rejected two further offers as per the advice and within 3 weeks got the full amount back.

[Modi]

May I suggest you take a look at the website I’ve added and you'll find that not 1 person has so far failed to get a full refund Modi. The Halifax alone has paid out over 350k to 303 people who have filled in the survey on the site.

I've got £302 to claim and have been offered £150, I’ve turned that down and have now started court proceedings and I guarantee I’ll be paid out in full in the next 4wks. Debs has claimed back almost 2k and is waiting for their first offer. My mate has been paid out, £1900 on 2 accounts so don't tell me its a load of twaddle.

Unfortunately, I will tell you it is a load of twaddle. You might disagree but that's your choice.

The figures are, I am assuming submitted by the poor saps who register for the site? And they are really going to be honest with saying they've managed to get £7.50 refunded out of a few hundred quid? Of course they are not.

Yes, there will be some high profile cases that are totally ludicrous and have lead to some poor souls racking up hundreds of pounds of charges... but to suggest everyone can get everything back is utter nonsense.

Mind you it beggars the question why are people getting so many charges anyway? Is it that they are spending money they don't have, or haven't arranged an overdraft, are simply incompetent when it comes to finances or that the bank is screwing them?

The latter might be the end result, but it only comes from one or more of the first three reasons. No one gets charged if they follow three simple rules - be sensible, spend what you can afford, and if you need some help get in touch early enough to sort things out. Where's theres genuine bank errors or fraud or similar refunds ain't an issue.

However, there is an argument that those who go overdrawn, rack up fees etc are subsidising those of us who never go overdrawn or rack up fees. Hence the growing concern that 'free banking' might come to an end in the not too distant future. Still, if everyone gets a quarterly £25 processing fee levied to their account, charged £1 per cheque, and 50p for each switch transaction, and each withdrawal a 1% handling fee, everyone will no doubt be overjoyed that it's now a fair system.

PS Best of luck with your claims.

[Gav]

The reason for being charged is completely irrelevant, but what is clear is that finally the banks are being held accountable for making ludicrous charges for going 1p over drawn. If I go over drawn by a penny they charge me £39, well not anymore….

I’m personally aware of 12 people who have had their claims paid in full and none were ‘High profile cases’. Six claimed over £1000 and one person claimed £3400. I doubt the other poster on this thread was a 'high profile case' either.

May I suggest you look into things a little more carefully before saying its 'Utter nonsense' and 'complete twaddle'.

[Modi]

The reason for being charged is completely irrelevant, but what is clear is that finally the banks are being held accountable for making ludicrous charges for going 1p over drawn. If I go over drawn by a penny they charge me £39, well not anymore….

I’m personally aware of 12 people who have had their claims paid in full and none were ‘High profile cases’. Six claimed over £1000 and one person claimed £3400. I doubt the other poster on this thread was a 'high profile case' either.

May I suggest you look into things a little more carefully before saying its 'Utter nonsense' and 'complete twaddle'.

The 'utter nonsense' comment was directed at the assertion that you seem to be saying everyone can get everything back. Maybe those who frequent that noble website you have found are getting a lot back, but do you really believe that everyone who has ever had a bank charge is going to get everything back?

And to be honest, it's not irrelevant as to why charges are levied. If I went into Sainsburys, loaded up with a 12 pack of beer and only had enough cash for a bottle of milk, somehow I don't think I'd be able to walk out of the store. Why if you have £100 in your account and you spend £200 should you feel that you should get away with it?

Yes, there are some stupid situations witha few pence here and there, but the fact is the vast majority of fees are incurred for one of the three reasons I mentioned earlier.

Oh, and any thoughts on the free banking issue?

[Gav]

I don't wish to enter into a debate on the banking system thank you.

I've posted this as information to assist others who like me feel that bank charges levied on our accounts are not reflective of the actual cost incurred by the banks and because other maybe broke also!

[ABBEY]

what you claiming for late payment fees?

[Paul]

On the odd occassion we get charged a fee, which is usually £20 per item for exceeding the overdraft limit, I find a swift phone call to the bank results in the fees being refunded. It's the people who don't speak to the bank who get hit hard.

Equally I'd agree the charges are ridiculously high, it's just a computer system, doing what's it's programmed to do. Long gone are the days when my bank manager wrote to me and called me in for an interview to discuss my student overdraft. He gave me £100 loan and then offered me a job to work on his garden to pay off the loan!!! Great guy Mr.Thompson

[Gav]

what you claiming for late payment fees?

You can claim for anything the bank or credit card company has charged you for because the charges have been deemed unlawful in court earlier in the year. So if you paid your credit card late and got charged say £20, you can claim that back because its not a true reflection of what it actually cost the credit card company. If you went over your overdraft and were charged, claim it back. Basically any charges that you have incurred claim them back because they've been deemed unlawful.

YOU MUST REGISTER WITH THE SITE FIRST, then follow these steps and you'll have all your fees back in no time:

http://www.consumeractiongroup.co.uk/forum...structions.html

[stuwilky]

What Gav is saying is almost, but not quite, true.

You cannot necessarily claim ALL bank charges back, but where the charge is excessive they may refund it all, or they may refund part of it between the "old" exceissve charge and the "new" reasonable charge.

Most banks I deal with seem to have reduced charges to £12 from £25 for things like missed payments, going over credit agreements etc.

There is no need to register with any site though. Just a swift letter citing the case and mentioning unreasonable charges should resolve it.

Unfortunately Im not entitled to anything, as I do what Paul does, anytime I get charged a quick phone call always resolves it.

[Glenn]

OK, Long rant coming that is going to upset a lot of people.

WHY THE HELL SHOULD PEOPLE WHO CAN READ, UNDERSTAND AND FOLLOW THE RULES THE AGREE TO END UP SUBSIDISING THOSE WHO CAN'T ?

I don't sign a contract and I don't understand and when I break the terms of that contract I expect to get the penalties it lays out. If I think they are unacceptable or "unfair" I won't sign, simple as.

So why the hell should people who either haven't understood what they have signed, or simply don't care, get refunded fees because they are unhappy with them ? And when they do, who makes up the shortfall in the bank's bottom line ? Is it shareholders (which for includes the staff at most banks) or is it the poor saps who actually choose to manage their account in the way they have agreed ?

That's not to say I don't incur charges, I do and when I do I pay them. Also I'm not saying bank shouldn't quickly jump to it and refund any charges (and further charges resulting from those charges) when THEY are the source of the problem, which happens worryingly often it seems.

Is everyone happy to pay more on the highstreet to subsidise shoplifters ? Is that still the shops fault or the shoplifters ?

I also don't see why I have to subsidise those people who use counter services, but that's another rant for another day.

[thenodrog]

The reason for being charged is completely irrelevant, but what is clear is that finally the banks are being held accountable for making ludicrous charges for going 1p over drawn. If I go over drawn by a penny they charge me £39, well not anymore….

Afraid I'm with Glenn here. Our Nanny state to the rescue again as soon as a mouth slips off the nipple and the baby starts to yell. In the old days you would simply have changed Banks wouldn't you?

Anyway stuff plastic and the like we would all be far better off dealing in cash.

Edited August 7, 2006 by thenodrog

[stuwilky]

OK, Long rant coming that is going to upset a lot of people.

WHY THE HELL SHOULD PEOPLE WHO CAN READ, UNDERSTAND AND FOLLOW THE RULES THE AGREE TO END UP SUBSIDISING THOSE WHO CAN'T ?

I don't sign a contract and I don't understand and when I break the terms of that contract I expect to get the penalties it lays out. If I think they are unacceptable or "unfair" I won't sign, simple as.

So why the hell should people who either haven't understood what they have signed, or simply don't care, get refunded fees because they are unhappy with them ? And when they do, who makes up the shortfall in the bank's bottom line ? Is it shareholders (which for includes the staff at most banks) or is it the poor saps who actually choose to manage their account in the way they have agreed ?

I dont think it upsets anyone Glenn. However, banks make such huge profits because they levy charges which are not reflective of the charges they themselves incur. It is their fault that they chose to ignore the Unfair Contracts Act when drafting their conditions, and as with any contract you cannot simply opt out of a legal right (apart from the WTD - but thats a different story!)

Of course, when banks write to you expecting a reply the funniest thing is charging them the same fee they charge to write me a letter. They dont like that, but end up paying!!

[Paul]

Agree with much of what Glenn says, although the charges are too high considering it is all system generated. The first thing that passes through my mind when I read of people reclaiming £000s is just how on earth did they get charged that much? Charges are what £20 on average? So a £1000 bill means the bank was ignored on 50 odd occassions. If this results in the end of free banking for those who play by the rules, I hope those who continue to break the rules pay even higher charges,

In our house we work on a budget; total income less out monthly goings, divide result by 4 to give the weekly spendies. It's simplistic and works, I'd guess we get a bank charge about once a year and a CC charge much the same, usually for late payment, which is an oversight on my part

[thenodrog]

Of course, when banks write to you expecting a reply the funniest thing is charging them the same fee they charge to write me a letter. They dont like that, but end up paying!!

Quite right. Thats more like it stu. Rather than whingeing it's always better not to get mad but to get even. I know a chap with a business who was asked by the bank to allow a new manger to spend a morning learning about the industry that he was in. He allowed the trainee to come but sent a bill charging them at the same rate that he was charged for his annual overdraft revue. They paid up too.

[Glenn]

My argument with bank charges vs bank profits is that if traditional high street banks make so much money then surely there must be enough profit margin for someone to operate an online only* bank that can offer me a better rate of intrest becuase they don't have to pay for high street permises, counter services etc. It would seem not.

* HSBC, Smile, Egg etc don't count because they are all simply fronts for bricks and mortar establishments and don't seem to offer me anything the high streets don't.

[Ricky]

Add me to the list of people who have been succesful in claiming back charges Gav.

I'm in the middle of another claim for my partner at the moment. I'm then going to go after MBNA. Most of my credit card charges have come from late payments, I have never missed a payment but for some reason I tend to have a few latee ones.

Go for it Gav, if you need any help email me, I'm not too bad on the whole process now. Make sure you stick to your deadlines and dont settle for anything less than the full amount.

[thenodrog]

I'd like to see the existing ones leave the High St and open a branch on a retail park with about an acre of car parking all around. Last years 60% hike in car parking charges in Blackburn to pay for the inumerable wardens adds even more to the cost of banking.

[jim mk2]

Twice over the past 20 years I have inadvertently slipped into the red and incurred charges. One polite telephone call (to First Direct) pointing out my previous exemplary record has done the trick and they have refunded the charge. Would thoroughly recommend First Direct by the way.

Two developments in the banking world: current accounts without fees even for those always in the black may soon be a thing of the past and using cheques as a means of paying for goods in the shops are on the way out as everyone is forced to use plastic. Cheques are now banned in many stores in the US and Asda and Sainsbury to name two have started to experiment with a ban here.

[Glenn]

Two developments in the banking world: current accounts without fees even for those always in the black may soon be a thing of the past and using cheques as a means of paying for goods in the shops are on the way out as everyone is forced to use plastic. Cheques are now banned in many stores in the US and Asda and Sainsbury to name two have started to experiment with a ban here.

Cheques are another bugbear. They invlove massive amounts of manual processing (compared to a debit card), so why should I, as somebody who hasn't used a personal cheque in years, be forced to subsidse those people who are unwilling to use a debit and/or ATM card ?

Would thoroughly recommend First Direct by the way.

I've yet for find a First Direct customer who ISN'T a big fan. It seems odd the First Direct have such a good rep and HSBC have such a bad one :S

[speeeeeeedie]

Anyway stuff plastic and the like we would all be far better off dealing in cash.

Two developments in the banking world: current accounts without fees even for those always in the black may soon be a thing of the past and using cheques as a means of paying for goods in the shops are on the way out as everyone is forced to use plastic. Cheques are now banned in many stores in the US and Asda and Sainsbury to name two have started to experiment with a ban here.

Cue another discussion between two old friends. Plastic v. cash.

[stuwilky]

I've yet for find a First Direct customer who ISN'T a big fan. It seems odd the First Direct have such a good rep and HSBC have such a bad one :S

Aye, add me to that list. Superb bank.

[American]

My argument with bank charges vs bank profits is that if traditional high street banks make so much money then surely there must be enough profit margin for someone to operate an online only* bank that can offer me a better rate of intrest becuase they don't have to pay for high street permises, counter services etc. It would seem not.

* HSBC, Smile, Egg etc don't count because they are all simply fronts for bricks and mortar establishments and don't seem to offer me anything the high streets don't.

We've got one over here called ING that offers a much higher rate for a savings account than most banks.

As for your rant, I'm with you on that. If you don't like the fees, don't overdraw or pay late. I'd be ashamed to admit that my significant other had over 2,000 in fees, myself. I'm embarrassed to have overdrawn 3 times in my life.