Have you had ANY bank charges in the last 6 Years ?

As you may have noticed from the news and other sources there is a growing movement to reclaim punative charges from the banks.
These charges include unauthorised overdraft, declined Direct Debts and bounced cheques, not to mention the interest that these activities incur.

Which ? magazine has recently done some research into these exorbtant charges and the banks' charges are currently under investigation by the Office of Fair Trading.

Here's a few articles concerning this movement:
Watchdogs Back Fight Against Bank Charges (from The Argus)

Mirror Money - HAS YOUR BANK RIPPED YOU OFF?


One of the BEST resuorces I have found for this and other money related matters is MoneySavingExpert: Consumer Revenge, his no nonsense approach to these matters has got him alot of media attention.
His directions on reclaiming these charges is excellent and a MUST read: Bank charges: Reclaim them, they're unlawful, so you can get six years money back,

But and it's a big BUT, the banks are starting to fight bank and threaten customers with account closure or canceled overdrafts.

Don't bank on reversing the charges | News_ | Guardian Unlimited Money

Banks threaten customers who reclaim account fees - Money - Times Online


Well thet way I see it is that the banks have been making money from our mistakes and are not willing to help, so it's time to fight back.

MSE has a whole board devoted to members stories that have tried just that:
Reclaimed Bank Charges SUCCESS stories - MoneySavingExpert.com Forums

So my letter went off at the weekend, 27th Jan, just time to start with the old waiting games I suppose.

I'll keep you all posted how I get on.

valinors_sorrow

Do Brit wannabees count? LOL

Actually I have challenged a few charges at American banks recently and they removed them post haste. Like when my company was charged for a customer's bounced check when it was arbitrarily put through a second time without us even seeing it and having a chance to get the customer to rectify it. And it was a hefty fee too. The poor bounced check author got nailed twice for their fee. And other assorted nickel and dime stuff I have challenged too. Seems that is the new tactic... chip away at the consumer's pocket whilst they aren't looking to boost corporate bottom lines. Cell phone bills are doing it too. And the new rebate tactic is to conveniently forget about it or send you a letter that if you don't read the fine print and respond, you don't get the rebate. Ugh.

curlybenswife

It's worth looking into Val the banks are really just taking the pee and have been for many years its time as consumers we all faught back.

NeedKarma

That has been a thorn in my side for a number of years. A Canadian backlash is under way: globeandmail.com: Banks 'gouging' customers on ATM fees, Layton says

valinors_sorrow

I did the same thing with all the crap charges in the refinancing of a mortgage, letting my new bank know that if they cannot explain precisely what we are paying for in each and every one of those closing cost "this and that" fees, then we would not be signing the papers that day and any cost incurred with drafting up new papers with a new date would be on them. I think we pared down quite a few of the charges that way. Its amazing what is negotiable and how corporate America is sticking it to their customers who take it either out of ignorance or apathy. And before any of you say to yourself, wow what a penny pincher Val is LOL I do this out of a sense of conscience, not cash! LOL

I am an Ayn Rand fan politically and the first mandate any "Ayn Randian" has is to "vote" with our money!!

Curlyben

NK, England had that backlash a few years ago now, especially as all the cash machines, ATM's, are linked.
There's only a few privately operated ones that still charge but these are run by businesses and not the banks.

Curlyben

So are there any other Brits that will join the bandwagon ?

Curlyben

Update from me and my claim.
Feb 7th received the stock we are sorry to hear about your complaint letter.
They said they'll respond with in 2 weeks.
We'll just have to see what happens.

So any more Brits going to fight the good fight and reclaim what is rightfully ours ?

Jesushelper76

Agree with needkarma, the canadian banks are bad for this too. We are late in fighting it but it is starting to happen.

Ben, as far you receiving a letter saying sorry to hear about your complaint letter and will respond in 2 weeks, I would not count on that. If it was me though I would keep them on their toes and keep at them.

Joe

I am not a Brit, Wish I were I would be right in there fighting a good fight.

Curlyben

*Update*
Saturday I received a letter from the Customer Relations dept concerning this issue.
They still haven't supplied my six years worth of statements, but promised they will arrive in the next three weeks.

My guess is they are holding off as long as possible so the OFT (Office of Fair Trading) can publish their report into bank charges.
This is due sometime in April, so I'm cutting things fine here.

Oh well, I'm going to get my charges back one way or another
It's about time the "Little people" stood up to BIG business, especially when the UK banks have posted MASSIVE profits for last year, in the region of £40 BILLION !!!!!