Rojo From Spain, joined Sep 2000, 2417 posts, RR: 10 Reply 5, posted (6 years 6 months 4 weeks 1 day 13 hours ago) and read 1428 times:
Quoting Cumulus (Thread starter): I've been reading how some people have managed to get a refund of their bank charges, I've probably done £400.00 in bank charges over the last four years so how do I set about getting a refund?
Wow, that is a lot of money. How did you end up paying so much. Were they interests from a personal loan / credit card or were they fees?
I have always thought that England has one of the chaepest banking system with very low product fees. I still hold my Natwest account and they have never charged me for anything (well, I know how to avoid fees). They make their money mainly from interest margin and cheque compensation.
LTBEWR From United States of America, joined Jan 2004, 12675 posts, RR: 13 Reply 6, posted (6 years 6 months 4 weeks 1 day 10 hours ago) and read 1400 times:
While I am not familar with the banking ways in the UK, perhaps you should speak to customer service representives at or check the websites for your current bank and others to see if offer an account more appropiate to your needs and deposits. Some banks will offer good deals on fees if one has their payroll directly deposited into a bank account or offer special deals including low or no fees if you have a certain total deposits in checking and savings accounts at their bank. Perhaps you keep using the wrong ATM, not the ones with your bank so get ripped for fees from both banks. Some may offer deals if you transfer accounts to their bank as an intro deal. Perhaps your "Building Society" banks could offer you a good deal too vs. standard banks.
Banco From United Kingdom, joined Oct 2001, 14752 posts, RR: 54 Reply 7, posted (6 years 6 months 4 weeks 1 day 4 hours ago) and read 1379 times:
Quoting Rojo (Reply 5): I have always thought that England has one of the chaepest banking system with very low product fees. I still hold my Natwest account and they have never charged me for anything (well, I know how to avoid fees). They make their money mainly from interest margin and cheque compensation.
Yes, it is. Banking is free unless you go overdrawn. This whole issue has been about the penalties banks have issued for unauthorised overdrafts, and the legality of the charges. It is reckoned that it might cots the bank about £5, but the charges can range from £25 upwards. So there have been legal challenges and rather than fight them, the banks are caving in and paying compensation, because they don't want a test case which could result in them being forced to go through every single customer in the country and pay them back. Banking might be cheap (if you're in credit) but the banks are making a huge amount of money.
The tactic has often been for the bank to drag their feet and then not turn up for the court case, which has led the judges to start to lose their collective tempers with them, and start threatening the award of costs against them. an example here:
But if you want to go through the process of trying to claim back the charges, there are numerous templates out there for sending letters to the bank. Essentially, you first ask them for a list of how much they have charged you over the last few years, and then ask them to either pay you back or justify the charges.
Here is a template of how you do it, though there are plenty of others out there:
Banco From United Kingdom, joined Oct 2001, 14752 posts, RR: 54 Reply 9, posted (6 years 6 months 4 weeks 1 day 2 hours ago) and read 1360 times:
Quoting BananaBoY (Reply 8): I would take action fairly quickly if I were you, particularly after the recent court case.
That won't affect anything, it's only a district court judgement and doesn't set a precedent of any kind. The banks still won't want a High Court verdict, because they risk losing hundreds of millions of pounds. At some point though, these cases are going to be heard.
She's as nervous as a very small nun at a penguin shoot.
BananaBoY From United Kingdom, joined Oct 2004, 1565 posts, RR: 24 Reply 10, posted (6 years 6 months 4 weeks 1 day 2 hours ago) and read 1355 times:
Quoting Banco (Reply 9): That won't affect anything, it's only a district court judgement and doesn't set a precedent of any kind. The banks still won't want a High Court verdict, because they risk losing hundreds of millions of pounds. At some point though, these cases are going to be heard.
Cool. I didn't bother to look into it, so wasn't sure exactly which case was being talked of.
All my life, I've been kissing, your top lip 'cause your bottom one's missing
FlyingColours From United Kingdom, joined Dec 2003, 2315 posts, RR: 11 Reply 11, posted (6 years 6 months 4 weeks 19 hours ago) and read 1332 times:
Hehehe I remember a few years ago a Manchester guy sucessfully got a court order to cease property of his bank, so he marched into his local branch with some bailiffs and took his £4K of assets.
Banks are sneaky, unfortunatly they are the only way of having easy access to money. Building societies are so much better but you dont get cash cards etc...
My bank, the ever efficient bank of scotland, charged me £34 for going overdrawn, because they charged me £7, of course they then charged another £34 on top of that. I did get it all back within a week, after I marched into the branch politly and put my point across that they shouldn't have taken £7 to start with.
They have also charged me when a transaction hasn't gone through for about two days and I think I have more than I though, thats how they got me in Amsterdam. Bastards.
Of course, if you want your money back, just hold the place up
Lifes a train racing towards you, now you can either run away or grab a chair & a beer and watch it come - Phil