Reclaim Your Bank And Card Charges

[Xaccers]

Originally Posted by Shaun

I think that even though the charges are still too hight for my liking (I'd like to see it around the 5 to 8 pound mark) the charging policy set out by HSBC is one of the fairer ones. No fee for your first bounce in 6 months, no fee if you pay in cash to cover it before close of play. No fees if you go less than £10 overdrawn!

*** Interesting point Xassers

Very interesting points, especially as she's been charged £150 in a day and certainly not gone £150 over her overdraft limit!
The other thing is their literature that says they'll increase the overdraft automatically as required for £25 each time, so your new overdraft should be higher, meaning if you bring yourself back into credit, you should have the new overdraft for emergencies. That wasn't how it worked, if you went back into credit (or into your old overdraft level), the new overdraft was reset to the old one, so you'd get stung again if you went over.
So say you were at your £100 overdraft limit, and your fridge packed up and you needed to spend £50 to get it fixed, you'd be at £175 (the extra £50, and extra charge to extend your overdraft).
You find a scratch card and win £75, being good you put in in your bank account, taking you back to £100 overdrawn. Then your central heating springs a leak and you have to spend £25 on getting it repaired, so you're at £-125, HSBC would charge again so you're actually at £-150.
The thing is, they don't charge you on the day, there's a delay so just before the charges are due out, you could get yourself back to £-100, then they charge you the £50 for going over the £100 limit twice, which now takes you to £-150, and they charge you another £25!

We've got nothing against charges covering the costs involved in increasing an overdraft or returning a failed direct debit/standing order (although standing order should just not be actioned) but £25 for each is way more than it actually costs.

[Shaun]

I agree the charge is extortionate.

I didn't read their T&C as behaving in the manner you said, though if they are actioning charges on charges for more than you go OD it doesn't make them as fair as they sound does it!

[newguy]

Hi Folks,

Recieved a letter from HBOS's data subject access request team the other day - dated the 18th June - saying due to a high number of similar request that it may take a little time to process my request - but that I will have the required info within 40 days of them recieving my request etc etc. So far so good.

Originally Posted by newguy

Hello folks,

Well what can I say except better late than never in ref to me sending off the Data Protection Act letter!!! I just done so last Thursday registered so they will have had it by last Friday. I sent it to....
The Data Controller/Compliance Officer
HALIFAX PLC (Bank of Scotland)
TRINITY ROAD
HALIFAX
WEST YORKSHIRE
HX1 2RG

I made the cheque for the £10 out to Halifax Bank of Scotland plc. I'm hoping I sent it to the right office and made the cheque out to the correct dept so I'll update you on my progress from here. Fingers crossed and thanks for all those who gave advice and direction up till now.

[Xaccers]

Recieved a large pile of statements from HSBC today, will take me a while to go through them *joy*

That's for my account.

Got to confirm the charges on Faulty's account as the bank is claiming they can only find half of them!

[newguy]

Hi folks,

Just thought I'd update the tread as my claim progressed. On Sat just gone I recieved a letter from the bank (BOS) and it was in ref to the letter I sent asking for all charges etc. Here is an extract from that same letter I sent them below in bold.

Please supply me with a complete list of transactions and charges relating to my banking history with your organisation. Alternatively, a complete set of statements for that period will be acceptable.
Additionally, where there has been any event in my account history over this period which has required manual intervention by any member of your staff, or any other person, I require disclosure of any indication or notes which have either caused or resulted in that manual intervention, or other evidence of that manual intervention in relation to my banking business with you.
If you are unable to supply this data because there has been no such manual intervention, then please be so kind as to confirm this in your response.

In the letter I recieved there was what appears to be a 'SCHEDULE OF CHARGES' attached, as there are various dates with amounts oposite - including ones from a closed account with them. I was expecting the 'interest debited charges' to have been included with these charges. What I mean is on my bank statment this month it had £1.93 charged to my account as 'interest debitited' and at the bottom of my statment is states that next month there will be £3.37 to be debited as interest debitited. I take it this 'interest debitited' is for me using my over draft every month?

On a more serious note, should all these 'interest debitited' amounts have been included with my list of charges, as I originally asked for 'a complete list of all charges' with my originally letter?

If anyone knows the answer to the above I'd be very grateful.

I don't mind going with just the charges that I have to go with - purley for a quick resoulution - but I'm just checking to see if this is the bank been sneeky and not giving a complete list.

Also I asked (again in the 1st bold bit above) about the manual intervention to which I got this reply;

'As BOS is not required to record this info I am afraid I am unable to assist etc etc.' Is this manual intervention a bid deal does anyone know?

One final question folks and it's in ref to the next letter template I have ready to send off as in 'request for repayment of charges' letter. Once I have recieved the rel feedback from you that is.

It states on this letter the following (in Green) but I find it a bit confusing. It says 'taken' with x amonts and then 'plus' with x amounts. Is it the total of charges and then the plus bit is the 8% interest I add to the total?

Again any help is much appricated as I just want to make sure I get it right.

What I require
I calculate that you have taken £XXXXX plus £XXX which you have charged me in overdraft interest for the sum which you have taken. Total £XXXXX .
I enclose a schedule of the charges which I am claiming with this letter.

p.s. Sorry for such a long tread folks and on a positive note the bank stated in the letter, that they would not be cashing my £10 cheque I send with the dpa letter. They said BOS has decided not to charge a fee for requests such as these. Perhaps it's because I would eventually be asking for that also to have been refunded.

Originally Posted by newguy

Hi Folks,

Recieved a letter from HBOS's data subject access request team the other day - dated the 18th June - saying due to a high number of similar request that it may take a little time to process my request - but that I will have the required info within 40 days of them recieving my request etc etc. So far so good.

[Xaccers]

Interest charged on an overdraft isn't claimable, however, interest on the charges they've applied is.
Basically, being overdrawn means you've got a loan from the bank, so them charging you interest is fair.
Their charging you £25 etc to set up the loan (overdraft) or increase it isn't fair, so you can claim for it.

Anyone know how the OFT high court case is affecting claims?
Are they all on hold?
HSBC has stalled until the day the case was announced on the news, still claiming there's only £300 worth of charges, then offered £220!
Each month they're adding £25 as the interest charges are taking the account further over the overdraft limit.
They owe her approx £600, she even offered to accept the overdraft amount (approx £500) but they weren't interested.
So do we proceed with small claims court, or do we have to wait for the high court decision?

[TheDaddy]

They are on hold until after the verdict

Market watchdog the Financial Services Authority (FSA) will allow banks to suspend dealing with any claims for repayment of overdraft charges filed against them until the test case has been decided.

http://news.bbc.co.uk/1/hi/business/6918140.stm

[Stephen]

So with this court case is their any point in me writing to my bank to attempt to reclaim my charges?

[TheDaddy]

Originally Posted by DarthYoda

So with this court case is their any point in me writing to my bank to attempt to reclaim my charges?

I'd wait until a verdict is given, might even be easier to claim once it's resolved

[SMHarman]

http://www.fool.co.uk/news/your-mone...oowftxt0010011
Is another good article on the subject

[newguy]

Hi TheDaddy & co,

I was just about to send off the letter to reclaim the charges from HBOS and came accross your tread. Surely there is no harm in still trying?

Originally Posted by TheDaddy

They are on hold until after the verdict

Market watchdog the Financial Services Authority (FSA) will allow banks to suspend dealing with any claims for repayment of overdraft charges filed against them until the test case has been decided.

http://news.bbc.co.uk/1/hi/business/6918140.stm

[Xaccers]

Might be worth making the banks aware of how much they owe you, even if you can't take it to court.
That way, if the case ends in our favour, the banks will be aware, and you'll have a record of them knowing.

[harmonyinfo]

Originally Posted by Xaccers

Might be worth making the banks aware of how much they owe you, even if you can't take it to court.
That way, if the case ends in our favour, the banks will be aware, and you'll have a record of them knowing.

In a fool.co.uk article I just got emailed it says it is vital to keep claiming charges with your bank. If the bank does not respond (which legally they still must do) and pay up (which perhaps they can now delay), then to file a claim in the courts. Something to do with you only being able to claim back charges for the last 6 years from the time that you file the claim in a court (not contact the bank). The chap in the fool article reckoned the FSA estimate of 1 year for the matter to be settled in the court is widely optimistic and it is likely to be up to 3 years or more before the courts rule. Eg if you wait until the FSA court case is settled in say 2010, then you can only claim back charges incurred from 2004 onwards unless you put in a claim to the courts now.

[Chrysalis]

This to me stinks, a behind closed door deal been made which shockingly allows banks to suspend claims but yet carry on charging. Seems the corrupt wealthy have won again and can break the law as they please because realisticaly the banks are not going to be told to pay back 10billion at the end of this and as martin says this will be a farce, it wouldnt surprise me if they even won and this is a cover up to make us believe the OFT are fixing it.

You still allowed to claim tho if can prove in financial hardship.

[newguy]

I must agree with you on this as the banks are so rich and powerfull (especially together) and who knows what kind off behind the door deal is ongoing - or brown envelopes been passed around. Fingers crossed thou they (banks) gets their fingers burnt.

Then again if they don't have to pay out at the mo, that same money is making big interest for those banks.

Originally Posted by Chrysalis

This to me stinks, a behind closed door deal been made which shockingly allows banks to suspend claims but yet carry on charging. Seems the corrupt wealthy have won again and can break the law as they please because realisticaly the banks are not going to be told to pay back 10billion at the end of this and as martin says this will be a farce, it wouldnt surprise me if they even won and this is a cover up to make us believe the OFT are fixing it.

You still allowed to claim tho if can prove in financial hardship.