Sky InsuranceAH Fabrications
Results 1 to 7 of 7
  1. #1
    1st Gear

    Status
    Offline
    Join Date
    Feb 2005
    Location
    Isle Of Lewis, NW Scotland, UK
    Posts
    197

    Reclaiming Bank Charges - has anyone here suceeded?

    Now that everyone is on about watching their money, and making sure you have the best type of account and credit card etc, i thought about this issue of reclaiming your charges and fees from the bank.

    Has anyone on here been sucessfull in doing this, and have any hints and tips, as i am going to start my claim next week.
    My Fleet:
    B7 Audi A4 3.0 TDi 233 S-line Quattro
    B5 Audi A4 1.9 TDi 110 Quattro
    B5 Audi A4 1.9 TDi 110 SE
    B3 Audi 80 2.0 8v Sport

  2. # ADS
    ADS
    Join Date
    Always
    Location
    Global
    Posts
    Many
     
  3. #2
    jdp1962's Avatar
    Grumpy Old Man

    Status
    Offline
    Join Date
    May 2003
    Location
    Cruising on a mountain of torque
    Posts
    5,676
    Quote Originally Posted by Donald_MacIver
    Now that everyone is on about watching their money, and making sure you have the best type of account and credit card etc, i thought about this issue of reclaiming your charges and fees from the bank.

    Has anyone on here been sucessfull in doing this, and have any hints and tips, as i am going to start my claim next week.
    You have PM
    A4 3.0TDi SE Quattro Auto. Factory-fit: RNS-E/bluetooth; F/R parking sensors; full leather/heated front seats; cruise. Retrofit: Remap; Eibach 30mm lowering springs, RS4 RARB; MTEC drilled/grooved discs; 18" RS4 alloys; VW fan washers; Kinetic Digitizor DAB; Blackvue DR380 camera; front armrest; ambient lighting; white LED lights; autodim mirror; Cupra splitter; S-Line door blades; tints; UK pressed plates; MFSW; SDS; TPMS; LED Taillights and DRLs. RS aluminium pedals


  4. #3
    motorbikez's Avatar
    6th Gear

    Status
    Offline
    Join Date
    Nov 2006
    Location
    cumbria
    Posts
    2,033
    Quote Originally Posted by Donald_MacIver
    Now that everyone is on about watching their money, and making sure you have the best type of account and credit card etc, i thought about this issue of reclaiming your charges and fees from the bank.

    Has anyone on here been sucessfull in doing this, and have any hints and tips, as i am going to start my claim next week.
    It all depends on how you incurred the charges and your standing with the bank.In the past I've cocked up twice with hsbc bank and faced bank charges twice because of my own errors.I then spoke in person to the bank manager on both occasions the charges were waived and my bank account re credited.

    So the best thing to do is try to speak to someone in person and see how you go

  5. #4
    jdp1962's Avatar
    Grumpy Old Man

    Status
    Offline
    Join Date
    May 2003
    Location
    Cruising on a mountain of torque
    Posts
    5,676
    The debate is all about "default" bank charges, i.e. those charges that banks levy if you go overdrawn (or exceed your overdraft limit) without permission, or have a cheque, direct debit or standing order unpaid due to insufficient funds. These charges have been part of the banks' published tariffs for many years, and were originally intended as a way of ensuring that costs of administering "delinquent" accounts was borne by the customers whose accounts caused the costs, and not by those who did not. Not unreasonable in itself, but over the years, that idea became lost as the fees got higher and higher, to the point where they became a primary source of income rather than merely a way of apportioning and recovering costs.

    Now, the Office of Fair Trading is following up an investigation it conducted last year into similar charges on credit cards by tuirning its attentions to current accounts. The OFT's view (albeit hotly contested by the banks) is that under Unfair Terms in Consumer Contracts legislation, a charge may not be lawful if it exceeds the actual cost of the administrative work it represents. Banks are steadfastly refusing to reveal what their costs are, but some estimates have suggested that about 6-8 is a reasonable level for the charge. Most banks charge between 30 and 40 per time.

    So, if you have incurred this type of charge in the last 6 years, you can ask for them back from your bank by claiming they are unlawful. The Bank must then choose whether to refund them or defend them, either by arguing that the OFT's interpretation of the legislation is wrong, or by arguing it is right but releasing information about its costs to prove that the level of the charge is fair (which as I said, they won't do).

    Most banks tend to reject the complaint at first go, then make an offer of a partial refund if you persist. If you still insist on a full refund (which you should) the bank will typically refuse and refer you to the Financial Ombudsman Service.

    They are hoping you will be put off and eventually give up. Don't!

    Take it all the way to the ombudsman, and there is a good chance you will get all your charges back.




    This website is a good starting place, particularly for the template complaint letter. Good luck.


    http://www.which.co.uk/reports_and_c..._559_74997.jsp
    A4 3.0TDi SE Quattro Auto. Factory-fit: RNS-E/bluetooth; F/R parking sensors; full leather/heated front seats; cruise. Retrofit: Remap; Eibach 30mm lowering springs, RS4 RARB; MTEC drilled/grooved discs; 18" RS4 alloys; VW fan washers; Kinetic Digitizor DAB; Blackvue DR380 camera; front armrest; ambient lighting; white LED lights; autodim mirror; Cupra splitter; S-Line door blades; tints; UK pressed plates; MFSW; SDS; TPMS; LED Taillights and DRLs. RS aluminium pedals


  6. #5
    Sinny71's Avatar
    S55 LKS

    Status
    Offline
    Join Date
    Jan 2007
    Location
    North East
    Posts
    777
    I've seen a few things dotted around on the net and TV about this.The last thing the bank wants to do is go to court over such charges. If they go to court and lose, it opens the flood gates.

    They do make it difficut and hope to put people off, but as jdp says, dont give up or back down.
    2004 1.9TDi A4 Avant Sport, GmbH bodykit, DPM Remap, Fishscale Alu trim, RNS-E


  7. #6
    bena3turbo's Avatar
    Genuine Dude

    Status
    Offline
    Join Date
    Oct 2006
    Location
    Wirral
    Posts
    90
    www.moneysavingexpert.com

    loads about this on here.


    Go banana!

  8. #7
    1st Gear

    Status
    Offline
    Join Date
    Feb 2005
    Location
    Isle Of Lewis, NW Scotland, UK
    Posts
    197
    Quote Originally Posted by jdp1962
    The debate is all about "default" bank charges, i.e. those charges that banks levy if you go overdrawn (or exceed your overdraft limit) without permission, or have a cheque, direct debit or standing order unpaid due to insufficient funds. These charges have been part of the banks' published tariffs for many years, and were originally intended as a way of ensuring that costs of administering "delinquent" accounts was borne by the customers whose accounts caused the costs, and not by those who did not. Not unreasonable in itself, but over the years, that idea became lost as the fees got higher and higher, to the point where they became a primary source of income rather than merely a way of apportioning and recovering costs.

    Now, the Office of Fair Trading is following up an investigation it conducted last year into similar charges on credit cards by tuirning its attentions to current accounts. The OFT's view (albeit hotly contested by the banks) is that under Unfair Terms in Consumer Contracts legislation, a charge may not be lawful if it exceeds the actual cost of the administrative work it represents. Banks are steadfastly refusing to reveal what their costs are, but some estimates have suggested that about 6-8 is a reasonable level for the charge. Most banks charge between 30 and 40 per time.

    So, if you have incurred this type of charge in the last 6 years, you can ask for them back from your bank by claiming they are unlawful. The Bank must then choose whether to refund them or defend them, either by arguing that the OFT's interpretation of the legislation is wrong, or by arguing it is right but releasing information about its costs to prove that the level of the charge is fair (which as I said, they won't do).

    Most banks tend to reject the complaint at first go, then make an offer of a partial refund if you persist. If you still insist on a full refund (which you should) the bank will typically refuse and refer you to the Financial Ombudsman Service.

    They are hoping you will be put off and eventually give up. Don't!

    Take it all the way to the ombudsman, and there is a good chance you will get all your charges back.




    This website is a good starting place, particularly for the template complaint letter. Good luck.


    http://www.which.co.uk/reports_and_c..._559_74997.jsp
    Many thanks for the info, and i definately think its worth a shot. I have tried asking for charges to be waived previously on 2 seperate occasions, but the bank was having none of it!

    I will see how i get on, and update this thread if i have any success
    My Fleet:
    B7 Audi A4 3.0 TDi 233 S-line Quattro
    B5 Audi A4 1.9 TDi 110 Quattro
    B5 Audi A4 1.9 TDi 110 SE
    B3 Audi 80 2.0 8v Sport

 

 

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Single Sign On provided by vBSSO

Garage Plus, Vendor Tools vBulletin Plugins by Drive Thru Online, Inc.

Content Relevant URLs by vBSEO