Frequently asked questions
Why can I claim back my charges?
English law does not allow a penalty clause. If a bank cannot justify that it costs £25 - £40 to send you an automated letter advising you of an unauthorized overdraft then the fee is considered a penalty.
Excessive fees for overdrafts, returned cheques, unpaid direct debits and standing orders are all potentially unlawful.
How does the claiming back bank charges process work?
I will work on your behalf, including all contact and liaising with your bank until an offer that you are happy with is gained. You can see the full process here
How do I get started?
Just simply get in touch with us via our contact page and I'll call you as soon as I can to talk you through it
How do I know what I've been charged?
The quickest way is for me to go through your bank statements to verify what you will be claiming back in bank charges. In some cases it may be possible to do this on the day I receive them. If you do not have access to them I will apply to your Bank for a list of charges that have been made over the last 6 years. I will do this by making an official request under the Data Protection Act (1998). The Bank then has 40 days, from receipt of the letter, to reply in order to comply with the law. The bank can charge you a maximum of £10 to disclose the relevant information.
Can both bank and credit card charges be claimed back?
Charges made by Banks for referred cheques, direct debits and standing orders. Charges made by Banks and Credit Card Companies for exceeding agreed overdraft and loan limits. In addition the County Courts Act of 1984 allows claimants to charge interest at the rate of 8% per annum from the date the Bank deprived its customer of the money being claimed to the date of the final settlement.
How long will it take to recover the charges
Probably no more than 12 weeks but sometimes it does take longer depending
on the individual circumstances.
It was my own fault, I went overdrawn! Is claiming back my bank charges still possible?
If you have been charged over the odds for a breach of contract no matter how it happened you still have grounds to claim.
My partner and I have joint accounts, can we still make a claim?
Yes you just both need to sign any paperwork that is required.
How much does the service cost?
Claiming back bank charges costs £250 and that's it, AND it's no win no fee. It doesn't matter how large your claim is up to £5000 because my fee is still only £250. Claims over this value will always require specific legal action (contact me to discuss options). Note: this also applies to claims over £750 in Scotland.
Do you charge anything up front?
No! I will bill you when the claim is successful. If you don't have statements
we can ask for a list of charges from your bank. This is a maximum fee
of £10 charged by your bank which we would require up front.
Could I reclaim the bank charges myself?
Yes of course but then would you do your tax return yourself without an accountant or settle a legal matter without a solicitor? To maximize the claim you should really consider using an expert who is knowledgeable in handling this sort of claim on your behalf. Not to mention the extra time it would take you to do it yourself. I never discourage you taking your own action, the decision is yours.
Do I have to make a claim through the small claims courts?
In most cases the banks settle the claim before then. In some cases it is necessary to file a claim through the small claims court which I would do on your behalf. There is a small fee for this but it is awarded back when the claim is won. You can find the fee structure here.
Will this affect my credit rating?
No not at all. The process of claiming back bank charges that are rightfully yours is of course perfectly legal and will not affect your credit rating at all.
Might the Bank close my account?
The Banking Code Standards Board issued Bulletin No 21 on the 27th July 2006 dealing with this issue.
The first thing to remember is that the banks cannot use account closure as a threat to deter legal action. Secondly, notwithstanding a successful claim the Banks are asked to treat anyone in financial difficulty sympathetically and positively. Accordingly if the customer is in financial difficulty and cannot open an account with another Bank the Standards Board expects the Bank to allow the customer to continue using the existing account. Finally, the Standards Board does ask the Banks to consider very carefully the fairness of closing accounts in such circumstances. However, the Banks do have the legal right to close accounts, if they so choose.
Regulated by the Ministry of Justice in respect of regulated claims management activities; its registration is recorded on the website
www.claimsregulation.gov.uk.
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