One Man Banned Posted November 17, 2006 Share Posted November 17, 2006 I have just written to my bank to ask them to refund all the charges they have placed on my account in the last six years. With interest this is over £1200!! There's a bit of a campaign going on at the minute regarding this as its fair to say that the charges banks impose can no-way be indicative of the real cost to the banks and are therefore illegal. So far most banks are paying up to avoid going to court to prove themselves in the right I first heard about it all on the moneysavingexpert.com site - Martin Lewis who does the money spot Radio 2's Jeremy Vine show. It has taken a while to do it myself but now I know how much they've made from me I'm quite . Have any of you done this and how did you get along? I've put a link here at the moneysavingexpert website that explains all about it, there's even a nifty calculator that works it all out for you to add on the interest they owe you at the statutory rate of 8%! I'll obviously let you all know how I get along with the lovely HSBC - they've got 14 days to get back to me! A xx Quote Link to comment Share on other sites More sharing options...
Guest Posted November 17, 2006 Share Posted November 17, 2006 Our Financial Advisor told us about this. he said there was a website coming which has all the letters on it to make it really easy. But I can't find it. He said people are getting loads back and there is nothing the banks can do about it. Apparently they have separate funds put aside to cover this massive expense if it takes off. I think they are also trying to get a law through to protect themselves, but it's not there yet so we need to do it now! Quote Link to comment Share on other sites More sharing options...
One Man Banned Posted November 17, 2006 Author Share Posted November 17, 2006 all the letters you need are on the moneysaving expert link as part of the article - thats why I did it as otherwise wouldn't know what to write! A xx Quote Link to comment Share on other sites More sharing options...
Guest Posted November 17, 2006 Share Posted November 17, 2006 Thank you for posting it! Must try to get on with it now as could do with some extra cash! Quote Link to comment Share on other sites More sharing options...
Snowy Posted November 17, 2006 Share Posted November 17, 2006 Wow, will be interested to see how you get on, they've had a small fortune out of me over the years! Quote Link to comment Share on other sites More sharing options...
Charlottechicken Posted November 17, 2006 Share Posted November 17, 2006 I've never paid bank charges so will not be able to claim, but good luck to those of you who do, the charges are extortionate! On a slightly different tack,do you think we are about to see the end of free banking in this country Quote Link to comment Share on other sites More sharing options...
theherd123 Posted November 17, 2006 Share Posted November 17, 2006 Im in the process of doing this right now and used the following website www.penaltycharges.co.uk They are a brilliant help and very supportive, they have a forum where you can ask anything you are concerned about and the service is free too The site also provides you with all all the letters you need to send to the bank as well Quote Link to comment Share on other sites More sharing options...
One Man Banned Posted January 5, 2007 Author Share Posted January 5, 2007 Had a letter from the bank this morning after having two "delaying" letters from them. They have been mindful of their wording, of course, but for commercial reasons only they have made an offer of £900.00 in settlement - they won't pay back the interest I claimed [just there to see if they did if I'm honest] although they seem to think I requested the interest I paid on overdraft funds - err no as that bit of the borrowing is fine it's the interest on ....BORROWING!! duh! ) Think I may accept it as it has been a while and it's only just over £100.00 short of what they have charged me in the last six years. And I had always thought that the money was lost forever, never to be seen again! What a good week this is turning out to be! I think I'm going to enjoy 2007! A xx Quote Link to comment Share on other sites More sharing options...
Lesley Posted January 5, 2007 Share Posted January 5, 2007 Congratulations Andrew!!!! Nice to get one up isn't it? Quote Link to comment Share on other sites More sharing options...
One Man Banned Posted January 5, 2007 Author Share Posted January 5, 2007 or stick two up at them! :lol::lol::lol: A xx Quote Link to comment Share on other sites More sharing options...
Lesley Posted January 5, 2007 Share Posted January 5, 2007 I was just going to go back and re-phrase my last posting I won't bother now Quote Link to comment Share on other sites More sharing options...
Mrs Frugal Posted January 5, 2007 Share Posted January 5, 2007 Well done Andrew! A victory! Quote Link to comment Share on other sites More sharing options...
chelsea Posted January 5, 2007 Share Posted January 5, 2007 this is a very interesting and informative thread. After your sucess I think we are gonna give it a go. Did you change your bank Andrew? Did they tell you to "get lost" after offering to pay out? Quote Link to comment Share on other sites More sharing options...
AnnieP Posted January 5, 2007 Share Posted January 5, 2007 CONGRATULATIONS Andrew! What a lovely windfall to have at this miserable time of the year. Make sure you spend it on something nice! Quote Link to comment Share on other sites More sharing options...
Mrs Frugal Posted January 5, 2007 Share Posted January 5, 2007 Like an Eglu or two ! Quote Link to comment Share on other sites More sharing options...
One Man Banned Posted January 5, 2007 Author Share Posted January 5, 2007 Did you change your bank Andrew? Did they tell you to "get lost" after offering to pay out? Nope they offered a settlement and that was it. To be honest, despite all the advice telling me to open another account, just in case, I didn't bother. I would have happily then gone to the Financial Services Authority as they would not have been treating me fairly had they threatened to do so. Although this was ok for me, if anyone else were to do this, follow advice from many people and make an informed choice! Make sure you spend it on something nice! Very Happy Well there is a little something in the pipeline but I will reveal all about it when it as all been finalised and agreed etc. Til then I'm staying quiet! A xx Quote Link to comment Share on other sites More sharing options...
harveypup Posted January 5, 2007 Share Posted January 5, 2007 Ahemmm - I work for a v large bank we are not all evil!!!!!! Quote Link to comment Share on other sites More sharing options...
chelsea Posted January 5, 2007 Share Posted January 5, 2007 Ahemmm - I work for a v large bank we are not all evil!!!!!! the people i speak to when i need to ring the bank have always been extremely pleasant - probably the nicest people i have dealt with over the phone and I work in customer service - so I know good service when I get it! the bank has still ripped me off way back in the past though Quote Link to comment Share on other sites More sharing options...
Paola Posted January 5, 2007 Share Posted January 5, 2007 How interesting. I might give it a go once back from my hols. Well-done Andrew Do keep us informed with what is in the pipeline Quote Link to comment Share on other sites More sharing options...
Cate in NZ Posted January 6, 2007 Share Posted January 6, 2007 Congratulations Andrew, what a lovely little windfall, and a great start to the year . Now, what was this about something in the pipeline?........ do tell Quote Link to comment Share on other sites More sharing options...
One Man Banned Posted January 6, 2007 Author Share Posted January 6, 2007 Now, what was this about something in the pipeline?........ do tell Nope! - I'm not talking yet! :wink: A xx Quote Link to comment Share on other sites More sharing options...
Lesley Posted January 6, 2007 Share Posted January 6, 2007 Is it purple? Quote Link to comment Share on other sites More sharing options...
One Man Banned Posted January 7, 2007 Author Share Posted January 7, 2007 No it's not purple Lesley but it is very useful and very practical. OH NO! I have said too much! A xx Quote Link to comment Share on other sites More sharing options...
Cate in NZ Posted January 7, 2007 Share Posted January 7, 2007 No it's not purple Lesley but it is very useful and very practical. Please don't tell me that you've gone and bought a vacuum cleaner I was hoping to hear about something entirely non useful and frivolous........ like a giraffe for example Quote Link to comment Share on other sites More sharing options...
theherd123 Posted January 7, 2007 Share Posted January 7, 2007 I was hoping to hear about something entirely non useful and frivolous........ like a giraffe for example Giraffes are useful - they can get things down off the high shelves for you!!! Quote Link to comment Share on other sites More sharing options...
