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Discussion Starter · #1 ·
http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1141050760,24632

After reading the above thread on how its illegal for banks to charge you for going overdrawn i set the ball rolling and requested my last 6 years of statements.

They arrived today in 2 big parcels......

Cost me ?10 (which is the maximum the bank can charge) and i have 2 accounts worth of statements ive been through with a fine tooth comb.

Turns out in the past 6 years ive been charged ?169 on one account and ?125 on my other..... = ?294 in charges.

Now on the site it says you can claim interest on what the bank have charged you which when adding interest on makes it ?362.27p

Also i noticed an error on the banks behalf where they have drawn a bounced ebay cheque twice.... so thats another ?85 (going to bank tomorrow to sort this one)

Now i will be sending a letter to the bank requesting my money back..... so i should get a nice little bonus by march/april time.

I strongly suggest you all have a look at this site and get a letter sent off asap.[:D]

Im not a serial overdraft junky and may go overdrwan once or twice a year (by mistake)..... and im amazed how much money the bank have had off me in unfair charges.

So if you are a serial overdraft junky you could be looking in the ?1000's of pound you can claim back for nothing.

Muz
 

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hi mate. let us know how you get on with this please as i lost my job a wile back and went over drawn a fair bit and they just kept charging me even though i stopped any direct debits and they know i lost my job. i could be in for a wack of money then...

are you going to take proof of what they took off you?

did you just call up and ask for statments in the last xxyears?

cheers

gray
 

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Barclays call it a "Paid referal fee",I probably wouldn't get all that much back as every time I get one,I phone up and make enough fuss for them to give it back to me just to shut me up.I've had my account with them for 22 years now,and the amount of interest they've charged me on loans would pay any one of their wages for a whole year.
Last time it happened,I did ask them to explain and justify to me the ?30 fee,and pointed out that no way on earth does it cost them ?30 to send me this letter,the textbook answers very carefully avoided actually answering my question.
So my answer was simple,I explained to them that if they charge me ?30 again for sending me a letter generated by a computer that doesn't need to be paid a wage that I will ring them up and point out the error of their ways politely to them,and then I will send them a bill for ?30 for making the phonecall that I would expect them to pay without question,the same way they expect me to.They said I couldn't do this,so I said it's in MY terms of letting you look after my money,if you haven't read it yet,I'll send you a copy,but it'll cost you ?30.
More textbook answers,and my final word was that I'd be better off keeping my money in a shoebox under my bed,and then giving ?30 to any random passing stranger once a week,but thanks anyway for refunding the ?30 on this occasion.

Chris.
 

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Yeah Im supposed to be doing this but I havent got a printer to print out any letters [:mad:]

The banks are only supposed to charge you ?12 maximum.

Barclays sent out a letter to everyone saying they are dropping the charges to ?12 back in August I think, which is good but the interest rates are still really high!!

You can do it with debit cards and credit cards from 6 years back. It cost me ?5 for 6 years worth of statements from my current account.

My credit card (also Barclays) were a little tricker saying it will cost me ?3 PER statement [:O] I still dont have to courage to ring them back saying they should charge me ?10 [:$]

My friend did it with HSBC, she wrote them a letter saying she saw it on Trevor McDonald and it is illegal for the banks to charge anything over ?12 when you go over drawn or you miss a payment etc, and got a grand back but then she was saying they are refusing some people now because everyone is doing it. Which in my opinion isnt here nor there because they should have to give the money back by law, right?

I should stop being soft and get back on the phone to my credit card company and tell them to send me my statements for ?10 [:D] lol
 

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I personally don't agree with any of this. It's signalled the end of free banking for all of us, even if we never been charged, plus they have put overdraft rates up and credit card rates up to cover their losses in giving you back the money.
 

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Discussion Starter · #13 ·
But you also have to agree that going overdrawn by ?4 and then being charged a fee of ?25 plus another fee of ?5 every day untill its paid off is a tad excessive.....

... All banking establishments in the world are corrupt [N]and are actually run by the illuminat[6]i.... a secret society of people who run the world for their own evil gains[li]...and... who are also decendants of ancient reptilian aliens[ap]..... supposedly.

Just watched a program on david ike...... the nutter![:^)]
 

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But you also have to agree that going overdrawn by ?4 and then being charged a fee of ?25 plus another fee of ?5 every day untill its paid off is a tad excessive.....

... All banking establishments in the world are corrupt [N]and are actually run by the illuminat[6]i.... a secret society of people who run the world for their own evil gains[li]...and... who are also decendants of ancient reptilian aliens[ap]..... supposedly.

Just watched a program on david ike...... the nutter![:^)]



I've had this discussion a few times now with various people and don't wish it to turn into an argument as it has done before now.

Basically we all know the charges are there. Yet when we get charged with them we kick up a fuss and start saying its not fair, its wrong etc etc, but are quite happy to use the banks overdraft, are quite happy to use the banks services to pay our bills, accept our wages, accept our cheques, accept our paypal etc, all for free.

Yet when they charge us for breaking the terms and conditions we signed up to and agreed to, this happens.

This to me borders on the line of compensation nations which really riles me. I have been charged in the past, but I got myself a ?1500 overdraft and stayed out of it most of the time, sometimes dipped into it. I also got myself a flexiloan. High interest, but there all the time which I can dip into if I need to. Haven't needed to that much, but set myself up so that it was there to combat these situations.

You shouldn't really have to go into your overdraft and then go over the overdraft allowance. If you are, your living beyond your means. I've been desperte for money in the past, and have been charged, but then I did break my terms and conditions. Is it the banks fault that I used all my overdraft allowance and then used more? No, it's mine and solely mine. We are all responsible for our own finances.

This whole claim compensation with interest back has forced the banks to toy with the idea of charging ALL users for bank accounts. First direct seem to be the ones who went for it. The others seem to have favoured increased interest rates on credit cards and overdrafts.

It's also worth considering that banks often simply inform you that they are closing your bank account, which has happened to many who have claimed back their charges. Those people are then forced to open a basic bank account, which is normally for those with bad credit reports. This offers no overdraft, limited funds going in and out etc etc, lack of telephone banking. So although you might gain a few quid, this is the knock on effects. Your also risking your credit score, more info in a link below.

More info on all this can be found here:

http://www.thisismoney.co.uk/saving-and-banking/article.html?in_article_id=416491&in_page_id=7
http://www.thisismoney.co.uk/news/article.html?in_article_id=411250&in_page_id=2
http://www.thisismoney.co.uk/campaigns/bankcharges/article.html?in_article_id=414268&in_page_id=507
http://www.thisismoney.co.uk/campaigns/bankcharges/article.html?in_article_id=412361&in_page_id=507

I simply wouldnt be willing to risk my credit score, account being closed so that I can only gain a basic bank account etc and increased charges along with being black listed.

You break your terms and conditions, bank will just get rid of you.

I also dont like the fact it going to cost me because others who broke their T&C's have found a loophole out of it.
 

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Discussion Starter · #16 ·
my overdraft is only ?100 ....

I pay in a fair wedge a month.... get bugger all interest, and then get charged ?25 for borrowing ?4 from them once in a blue moon...........even though i have money in other accounts with them they could draw it from.
 

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I personally don't agree with any of this. It's signalled the end of free banking for all of us, even if we never been charged, plus they have put overdraft rates up and credit card rates up to cover their losses in giving you back the money.
your talking rot again Graham, have you started reading the Guardian or some crap..

Free banking will never cease in the UK, historically it has been attempted twice before, and what happens is one bank breaks ranks and steals 20% of the market overnight, Halifax and others have done it and will do it again,

Watch someone like Bank of Scotland steal Royals bank of Scotlands 30% market share, or someone like Bank of Ireland who at the monet are only in the UK on a commercial basis instantly grab 30% of the market.

Where do you whink the banks make the real money? ccharges? fees? overdraft fees?

NOPE most of the money is made by the time it takes them to clear funds and cheques.... ever wondered where the money is when your waiting for a cheque to be cleard (4 days) well the banks playing the markets with it... why in this day and age when an email round the world takes 0.5 seconds does it take 4 days to clear a cheque or 2 days to commit a transfer, and why is ther a daily cut off time not a rolling time (despite the commercial system now working 24 hours) ... because the banks play with YOUR money...

At the end of the day this is a good thing as the UK banking industry is a cartel,(mostly owned by RBS and HSBC) that needs a kicking from the public, at the end of the day charges are allowed, BUT they have to be PROPORTIONATE and banks should be fined and forced to follow government guidlines, hell the rest of us are so why are they different!!!!

DO you guys know how few independent banks we have?
 

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my overdraft is only ?100 ....

I pay in a fair wedge a month.... get bugger all interest, and then get charged ?25 for borrowing ?4 from them once in a blue moon...........even though i have money in other accounts with them they could draw it from.
Would be well worth asking them to raise the overdraft. I wasn't getting that much money in wages when they gave me ?1500. This was 6 years ago roughly, know I had ust come back from living in leeds, so gotta be around that long ago.
 

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I personally don't agree with any of this. It's signalled the end of free banking for all of us, even if we never been charged, plus they have put overdraft rates up and credit card rates up to cover their losses in giving you back the money.
your talking rot again Graham, have you started reading the Guardian or some crap..

Free banking will never cease in the UK, historically it has been attempted twice before, and what happens is one bank breaks ranks and steals 20% of the market overnight, Halifax and others have done it and will do it again,

Watch someone like Bank of Scotland steal Royals bank of Scotlands 30% market share, or someone like Bank of Ireland who at the monet are only in the UK on a commercial basis instantly grab 30% of the market.

Where do you whink the banks make the real money? ccharges? fees? overdraft fees?

NOPE most of the money is made by the time it takes them to clear funds and cheques.... ever wondered where the money is when your waiting for a cheque to be cleard (4 days) well the banks playing the markets with it... why in this day and age when an email round the world takes 0.5 seconds does it take 4 days to clear a cheque or 2 days to commit a transfer, and why is ther a daily cut off time not a rolling time (despite the commercial system now working 24 hours) ... because the banks play with YOUR money...

At the end of the day this is a good thing as the UK banking industry is a cartel,(mostly owned by RBS and HSBC) that needs a kicking from the public, at the end of the day charges are allowed, BUT they have to be PROPORTIONATE and banks should be fined and forced to follow government guidlines, hell the rest of us are so why are they different!!!!

DO you guys know how few independent banks we have?
I'm not talking rot and dont read the guardian. Banks have commented on it themselves and its all in the links provided above.
 

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But you also have to agree that going overdrawn by ?4 and then being charged a fee of ?25 plus another fee of ?5 every day untill its paid off is a tad excessive.....

... All banking establishments in the world are corrupt [N]and are actually run by the illuminat[6]i.... a secret society of people who run the world for their own evil gains[li]...and... who are also decendants of ancient reptilian aliens[ap]..... supposedly.

Just watched a program on david ike...... the nutter![:^)]



but are quite happy to use the banks overdraft, are quite happy to use the banks services to pay our bills, accept our wages, accept our cheques, accept our paypal etc, all for free.



Errm have you tried living without a bank account? its no longer possible, we dont have a choice anymore 99% of employers wont pay cash anymore, and wont give you a job without a bank account...

Oh and before you start whinging, your self-employed arent you? well no doubt using a personal account for your banking.... go and look at how much your annual costs would be if you followed the letter of the law and had a business account.... 60p to pay a hundred pounds in over the counter? ?1 to bank some cheques,

At the end of the day no one has said ZERO charges just that charges should be proportionate to the crime, IE is ?4 oversight really worth ?25 when someone could go ?10k over and still get a ?25 charge

errm paypal aint free they charge 4%
 
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