Get YOUR money back from your UK bank..

#1
Having a dull day at work and was surfing the net to pass the time. Anyway I came across the Consumer Action Group website. Essentially it is a bunch of like minded people getting their own money back off the big financial institutions that have stolen it.

Most bank charges for bounced cheques, returned direct debits and un-authorised overdrafts are illegal. No ifs no buts but illegal on two counts. This website details how to go about claiming this money back from your UK bank for the previous 6 years. This particular thread is a very good one as although long does give a clear understanding of all the stages you need to go through and all the crap the banks use to try it on. Seems they will take it to the wire but cave every time and give you your money back.

Anyway I suggest some of you out there have got some serious money due - Ive noticed one person on there get up to 8 grand back and the average seems to be about 1500 quid. Unfortunately I haven't banked in UK for 7 years and you can only go back 6 so no money for me.

Anyway good luck to whoever trys it but it really seems to be worth it from what I've been reading, if not for the money then just to kick sand in the big banks eyes.

Loads of other interesting financial advice for taking on power companies etc main page
 
#2
If any one 'wants to go for it' and claim, try this website, absolutely the best when it comes to help, procedures, letters etc. For those who are thinking I cant be arsed, well my claim is over £3000 for just on 6 years of banking.....and it does work you will get your money back in the end...

http://www.penaltychargesforum.co.uk/index.php
 
#3
There's only one way to get money out of my shower of b*stards - stocking mask, shooter and shouting "DOWN ON THE FLOOR AND NOBODY GETS HURT".
 
#4
I'll have to try that.

The stocking on the head that is... :oops:

These banks make an obscene amount of money every second, so I doubt they mind losing a few grand to a savvy individual. At least if they just pay up they don't get raped by the media outside the courts. Shame really i'd pay to see that :D
 
#5
However, there will be a tipping point when their profits are hit too hard in one year by people claiming back up to 6 years charges in one go. That's when they'll most likely decide to fight it out/delay paying out through the courts.

Given the sheer numbers who're twiggin to this, I suspect the tipping point will come quite soon.
 
#7
The BBC also did a good guide with template letters here: CLICKY
 
#8
I've done this with my mortgage completion fee. They charged me £175.00 completion fee, so I claimed it was an unfair charge and they reduced it to £20.00, which was the fee they stated they would charge when I took the mortgage out in 1989.
 
#9
smartascarrots said:
However, there will be a tipping point when their profits are hit too hard in one year by people claiming back up to 6 years charges in one go. That's when they'll most likely decide to fight it out/delay paying out through the courts.

Given the sheer numbers who're twiggin to this, I suspect the tipping point will come quite soon.
You're right they will reach a point where they decide they are losing too much money with this but they will still not win in a court of law - their charges are illegal, period.

Of course they'll find another way to rake the money back but it will have to be within the law - fcuk em I'd claim if I could they are making billions in profits after all.
 
#10
It's a shame it can only be backdated to the last 6 years-It's the first 4 years I was in that I lived the life of an International Rock Star on an AB's wages and abused my overdraft :D

It is worth noting as well that some banks have started to terminate people's bank accounts after they've successfully claimed back the charges claiming irrecoverable differences. That's one to look out for...
 
#11
True but you hardly want to use a bank that steals your money after all, theres plenty of competition out there. It's just the banks spitting their dummy because they got caught out.
 
#12
BUT, if they're all getting caught out, who's to say the competition will allow you to open a bank account with them? If you've shown that you can successfully stand up to another bank's attempts to sh*g you into a coma, others may not want you as a customer. They're not under any obligation to take any one person's business.

Of course, that would be ridiculous. It's not as if UK banks operate any kind of effective cartel for the sole purpose maximising profit at the expense of customers, or anything...
 
#13
smartascarrots said:
BUT, if they're all getting caught out, who's to say the competition will allow you to open a bank account with them? If you've shown that you can successfully stand up to another bank's attempts to sh*g you into a coma, others may not want you as a customer. They're not under any obligation to take any one person's business.

Of course, that would be ridiculous. It's not as if UK banks operate any kind of effective cartel for the sole purpose maximising profit at the expense of customers, or anything...
I suspect if they went into widespread banning customers mode the watchdog might have something to say, but you are right of course they are a bunch of thieving gits.
 
#14
Beware Lloyds Tsb!!! i'm currently claiming my charges back from them and they make you go all the way through to the small claims court.

http://www.moneysavingexpert.com/ is a good site about this too, it has a load of success and help threads

i'm only claiming £675 quid, but it's mine and i want it back :D
 
#15
I decided to do this last month. I contacted Sharkleys Bank and requested back dated statements. "No problem Sir! they will be with you in 5 days" says they. It took 4 weeks and a massive complaint to there complaints dept before I got the statements.

I have sent off the letter and they have until next the 2/05 to reply be fore I move into phase two of getting my money back.

Check out www.moneysavingexpert.co.uk
 
#16
smartascarrots said:
BUT, if they're all getting caught out, who's to say the competition will allow you to open a bank account with them? If you've shown that you can successfully stand up to another bank's attempts to sh*g you into a coma, others may not want you as a customer. They're not under any obligation to take any one person's business.

Of course, that would be ridiculous. It's not as if UK banks operate any kind of effective cartel for the sole purpose maximising profit at the expense of customers, or anything...
Open a 'parachute' account with another bank eg Natwest, did mine on line, no bother. that is just in case your bank wants you to close the account once they pay you out.
Bottom line the banks will pay out eventually but it is slowly spelling the end of so called free banking and we will probably see annual/monthly fees introduced. But hey I would rather pay £5 or £10 per month fee than get slyly ripped off like I do now.
 
#18
In theory the same rules that has lead to the fee refund fightback also prevents a bank from closing your account because of a charge refund. Banks depend on us being lazy and not knowing the system so they can abuse us with charges and threats of account closure.
The expectation is that bank charges will be fixed at about £10 to £12 pounds by the OFT.
The rules people are using to get refunds from banks also covers HP and loans! Anything which is deemed as punitive is not ALLOWED!
Though you must be prepared for a fight with everyone of these companies.

P.S Nationwide have been excellent with refunds and have never once threatened me with account closure! :D
 
#19
Read, in the Torygraph I think, at the weekend that Lloyds lost a case in court recently and got biffed by the Judge for wasting the courts time when it knew it was in the wrong. Can't find a link yet, sorry.
 

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