IdleRich
IdleRich
(Apologies if this is old news)
Recent developments in the UK seem to suggest that punitive charges (beyond administrative costs incurred by the bank) applied to personal bank accounts in the uk for unauthorised overdraughts, exceeding overdraughts or bouncing cheques are illegal. This also appears to apply retroactively. I've heard that the large banks are unwilling for a test case to come to court as it could set an extremely expensive precedent. I have been advised that rather than allow a case to come to court the banks are likely to pay back any charges if demanded and threatened with the small claims court.
The procedure seems to be, first demand a record of any charges on your account under the Freedom of Information Act, second demand repayment and thirdly (as they will stall) demand payment again threatening legal action.
Although this could take quite a while and require an initial payment of £10 to cover FIA charges I'm going to give it a go because over the years the charges against me must amount to thousands of pounds.
There is more information about this on this website
http://www.consumeractiongroup.co.uk/forum/
And there are also templates for the letters of the various stages of the process if anyone is interested in trying this.
Recent developments in the UK seem to suggest that punitive charges (beyond administrative costs incurred by the bank) applied to personal bank accounts in the uk for unauthorised overdraughts, exceeding overdraughts or bouncing cheques are illegal. This also appears to apply retroactively. I've heard that the large banks are unwilling for a test case to come to court as it could set an extremely expensive precedent. I have been advised that rather than allow a case to come to court the banks are likely to pay back any charges if demanded and threatened with the small claims court.
The procedure seems to be, first demand a record of any charges on your account under the Freedom of Information Act, second demand repayment and thirdly (as they will stall) demand payment again threatening legal action.
Although this could take quite a while and require an initial payment of £10 to cover FIA charges I'm going to give it a go because over the years the charges against me must amount to thousands of pounds.
There is more information about this on this website
http://www.consumeractiongroup.co.uk/forum/
And there are also templates for the letters of the various stages of the process if anyone is interested in trying this.