Acquiring Unfair Bank Charges
Posted at by ifydcat on category UncategorizedIn the past few years, bank charges on the account were a regular event for may people in the United Kingdom. Although people believed that these were unfair bank charges in the majority of cases, there is a little that many people can do about them. However, that’s changing, due to a recent ruling by the United Kingdom’s Financial Regulators. Bank charges placed on clients for exceeding over draft limits, or returning cheques for example weren’t deemed reflective of the real charges sustained by the banks. For this reason, customers are now being encouraged to attempt and reclaim any kind of bank charges that they have been paid over the last six years.
If you need to claim back the money for the bank charges put on your account, you’ll of course have to know how much money which you feel you are owed. If you do not often keep your bank statements, then all hopes is not lost. You could request your bank to send you a list of bank charges added to your account within the last six years. If you do this, by law, they’ve got forty days to respond and they are not allowed to charge a fee more than 10 pounds for this service.
In case you have a letter to you from your bank with the total amount and sum of the bank charges on your account, you now want to compile a letter to the bank or banks in question. Your letter does not need to be made by a solicitor, not does it have to be particularly lengthy but does need to state that due to the ruling by the office of fair trading, you are requesting the money that you have paid in charges, either paid back into your bank account, or if the account is closed, by cheque.
After you have sent the letter to your bank, a good idea is that you allow two weeks for the bank to reply. If they don’t do so, then you will either need to write a follow up letter or make a telephone call. You should politely advise the bank that you feel you are owed money and you’re considering court actions to secure a satisfactory result. Usually, the banks will respond to this to avoid having to appear in the court, but if not, the most convenient way to start proceedings is to register the case online via the courts money claims services.
If you feel you’ve been unfairly charged by your bank, you could start getting your money back and begin the process right now. You can often seek the help of a professional solicitor to make sure that you are doing the write way and dealing with the right matter with regards to your unfair bank charges.