bank charge reimbursement

[silverdaler]

There has been a lot of publicity about this recently and a friend of mine has been offered �1200 back from his bank after he challenged them. Has anyone else had this kind of success ? Is it only for people who have exceeded their overdraft or bounced a cheque, or are there any other charges which can be reclaimed ???

[Oneeyedvic]

The charges refunded are simply any monies that the Bank has charged in penalty fees.

There are lots of people with stories about how much they have won back - personally I think it is disgusting and that if these people carry on, the rest of us will suffer as a result.

[silverdaler]

I agree - if you exceed your payment terms, and were aware of them , then you should take responsibility. It is a bit of a worry - does this mean that people can just exceed their overdraft limit to any amount ????????

[shafiQue]

I work for a Bank and would like to point out that just because a Bank may decide to reimburse you with the charges, it does not mean they are admitting fault.
The reason why Banks wish to "settle" matters like this is simply to avoid negative publicity and the need to pay fees to the FSA (which becomes due regardless of fault).

The Banking Terms and Conditions clearly state the need to remain within any agreed facilities and list the standard charges . It is sad people do this.

[hotspur1957]

Absolutre tosh.!
These bank have been ripping people off for years in extortionate fees, and perpetuaute the sotiation by authorsiing debit card transactions that take you o/d and then charge a �30 fee for the privilege. Why do they not just decline the treansactions - because it's a money spinner. get back every penny your entitlled to - printing terms and condititons which the lay person cannopt understand anyway does not make the fees legal.

[hotspur1957]

apologies for the spelling!