Claiming back excessive bank charges

[daftpixie]

According to the law banks can only charge customers penalty payments proportionate to the amount it costs the bank to administrate unpaid direct debits, unathorised overdrafts, rubber cheques etc. A bank is not allowed by law to make a profit from charging its customers, and the customer could technically take the Bank to Court if it could not be shown that it cost, for example, �30 a day for the customer to be overdrawn.

Recently I have been unemployed and was overdrawn all through July, and was charged in total �150.00 (my statement period changes mid month so got two sets off charges) in penalty charges. When I got a job, my wages went in and I couldnt get to them because I was paying off the overdraft that had got so huge as a result of these charges!

Has anyone ever been successful in claiming such charges back? Has anyone ever threatened legal action in such a case? If so what was the response? I would love to hear from anyone who has any kind of feedback on this. I registered a complaint and the bank will get back to me next week, and would like to know how to approach them when they do.

[Ethel]

All the info and advice here:

http://www.moneysavingexpert.com/cgi-bin/viewn ews.cgi?newsid1141050760,24632,

Be aware that you will probably need to change your bank as they will certainly close your account if you pursue this.

Get another current account up and running now.

Good luck.

[daftpixie]

Thanks Ethel, that is where I got my intial info from, I just wondered if any other abers had done it too. Have already opened a new account with another bank because I need my wages for food and bills, and cant afford for them to take it straight off me. Plus, I have rather a large student overdraft, so of they close the account, they would be doing me a favour! Mind you, that would probably end up in some kind of debt recovery agency chasing me for the balance wouldnt it? Thanks again

[Ethel]

I wish you luck, daftpixie.

Have you tried the forums on the moneyexpert site? On the whole they are excellent and claiming back charges is a hot topic, so you will get lots of hints and tips from people who have done it.

[daftpixie]

Excellent with have a look, I missed them. Thanks again Ethel x