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Interested in claiming back bank charges for last 6 years?


paul ashton

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2 days left until the final ruling!

 

http://www.guardian.co.uk/money/2009/nov/23/bank-charges-ruling-refund-claims

 

Oooo I must say I hope the banks lose this one. All my uni days of where they screwed me over with those extortionate charges.

 

I'll be looking at a very nice xmas present from my bank.

 

I can't see how the banks would ever win. Anyone else looking forward to their bonus nest egg :D I am looking to get over £650 in fees! :D

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2 days left until the final ruling!

 

http://www.guardian.co.uk/money/2009/nov/23/bank-charges-ruling-refund-claims

 

Oooo I must say I hope the banks lose this one. All my uni days of where they screwed me over with those extortionate charges.

 

I'll be looking at a very nice xmas present from my bank.

 

I can't see how the banks would ever win. Anyone else looking forward to their bonus nest egg :D I am looking to get over £650 in fees! :D

 

How did you manage to incurr £650 in fees? Is that you constantly going over your agreed overdraft?

 

I used to work in a bank and whilst I agree that the charges were too high, it always amazed me how people never seemed to realise that it was their fault for incurring the fees in the 1st place.

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How did you manage to incurr £650 in fees? Is that you constantly going over your agreed overdraft?

 

I used to work in a bank and whilst I agree that the charges were too high, it always amazed me how people never seemed to realise that it was their fault for incurring the fees in the 1st place.

 

Yeh basically. Thing is banks used to be very bad that if you spent on your card (swiped), the debit wouldn't come out for anytime between 3-14 days later. By which time you have assumed its come out. And spend on that basis... then 2 weeks later "WHAM" you are into your overdraft limit.

 

And if you don't check your balance every day it could be days until you notice, whilst the bank is racking up £25/day.

 

V.unfair - these were the days before internet banking so it wasn't so easy to check your balance. And as a student you might not live near a cash machine - no car to get to one etc. etc.

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Yeh basically. Thing is banks used to be very bad that if you spent on your card (swiped), the debit wouldn't come out for anytime between 3-14 days later. By which time you have assumed its come out. And spend on that basis... then 2 weeks later "WHAM" you are into your overdraft limit.

 

And if you don't check your balance every day it could be days until you notice, whilst the bank is racking up £25/day.

 

V.unfair - these were the days before internet banking so it wasn't so easy to check your balance. And as a student you might not live near a cash machine - no car to get to one etc. etc.

 

I had a hard time keeping on track of my money when I was 19 and had my first place.

 

I've had a payment come out over a month later from a restaraunt once!

 

If the individual is hard pushed one month, this kind of thing is a killer.

 

My card allows me to see my balance at all times, including the pending transactions. I'm pretty sure bank accounts don't do this.

 

I can imagine it's very easy for people to get stung by their banks. For example:

 

- An individual thinks they have x amount of money in their account (this is incorrect as pending transactions mean they have less)

- Y ammount trys to be taken (the pending transaction), which they don't funds to cover.

 

So, they get stung say £30 for the direct debit, then as this has now taken them over drawn, they get another £30. So that's £60

that they didn't have to start with, so it's a downwards spiral for next month.

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I've had a payment come out over a month later from a restaraunt once!

 

That might be because it didn't go through first time and they kept re-trying ?

My card allows me to see my balance at all times, including the pending transactions. I'm pretty sure bank accounts don't do this.

 

Yes they do. If you have £500 in your account and you spend £50 on your debit card, as soon as you go to a cash machine you will see:

Account Balance: £500

Available Balance: £450

 

Like, right away.

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Yes they do. If you have £500 in your account and you spend £50 on your debit card, as soon as you go to a cash machine you will see:

Account Balance: £500

Available Balance: £450

 

Like, right away.

 

2 years ago that was not the case for Lloydstsb and Barclays. It would still show £500 for some transactions for up to 2 weeks, even 4 or more odd weeks in some cases.

 

HSBC and some others were good at doing what you say, others like Barclays and Lloyds were not.

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I had a hard time keeping on track of my money when I was 19 and had my first place.

 

I've had a payment come out over a month later from a restaraunt once!

 

If the individual is hard pushed one month, this kind of thing is a killer.

 

My card allows me to see my balance at all times, including the pending transactions. I'm pretty sure bank accounts don't do this.

 

I can imagine it's very easy for people to get stung by their banks. For example:

 

- An individual thinks they have x amount of money in their account (this is incorrect as pending transactions mean they have less)

- Y ammount trys to be taken (the pending transaction), which they don't funds to cover.

 

So, they get stung say £30 for the direct debit, then as this has now taken them over drawn, they get another £30. So that's £60

that they didn't have to start with, so it's a downwards spiral for next month.

 

 

Yup - and on top of that, the overdraft penalty charges comes out a random date 2-3 months afterwards (granted they do tell you in advance). And if thats £75, wham you are over your limit again. And the cycle keeps happening.

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That might be because it didn't go through first time and they kept re-trying ?.

 

It doesn't matter why, it happened. :search:

 

 

Yes they do. If you have £500 in your account and you spend £50 on your debit card, as soon as you go to a cash machine you will see:

Account Balance: £500

Available Balance: £450

 

Like, right away.

 

Like, no it didn't happen like that, and it still doesn't with Natwest, but it's touch and go. The issues I describe were 6 years ago though.

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I used to work in a bank and whilst I agree that the charges were too high, it always amazed me how people never seemed to realise that it was their fault for incurring the fees in the 1st place.

 

When you are a student and have to pay for things, there is no escaping it.

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I understood it was my fault for going overdrawn and incurring charges, but I was annoyed at being charged £30 by the bank to refuse a cheque/direct debit when it was revealed by one of those whistleblower documentaries that it actually only cost the bank up to £2 to process.

 

I got my £1200 refund before all this court malarkey :)

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