GJ1966 v. Co-op Bank (2007).

[Gary JAY]

Have written my first letter to Co-op and part of their reply read :-

I appreciate you are unhappy with the charges applied to your account. As you are aware the charges are valid and in line with the Terms and Conditions of your account [well, we all know they're not!!]
I regret that I am unable to refund all the items you refer to in your letter. Firstly, UK law states that charges levied more than 6 years ago are irrecoverable under Statute of Limitations, therefore only charges incurred since 1st January 2001 can be considered.
[well in my case I'm going to try and use Sec 32(1)(b) Limitation Act, 1980 and go back to 1999]
Furthermore, you have requested items such as Privilege subscriptions and cash withdrawal fees. These are not subject of refund as they are not charges for an infraction. Debit interest was not mentioned in recent statements by the Office of Fair Trading and is also not subject to refund.
[however, because I held an ordinary current account and could not get an overdraft facility, the Co-Op Privilege Account was advised to me because it meant I got £100 automatic overdraft - and other savings on say holiday insurance etc. I couldn't afford holidays and believe this advice was bad and unsound financial advice. I also was charged a monthly 'subscription' to have this type of account!!]

I'm aware that Cash Withdrawals are not included, however when I got the list of 'default charges' from the Co-op (in response to my first letter), they were listed under 4 columns (commission, commission refund, debit interest and fees). I understand Debit Interest cannot be claimed back, but am I right in saying that it depends on how these are built up as to whether someone can claim these as well??
Would really welcome advice as to where to go from here before sending the 'LBA' letter.
The Co-op have sent me a 'GOW' amount for £1,610.00 !! (but I'm claiming more than twice this amount ( ) together with the interest on top. Talking of which, I gather that we add 8% - however, the banks charge more - what is the position?
Don't know where to go from here and would really welcome advice etc before I go to the next stage.
Many thanks for at least reading the above!!

[dx100uk]

right well firstly you need to read some of the other threads,
that will explain 90% of what you ask.

and TBH there is nothing there that is incorrect from the co-op reply side [at a quick 1st read].
some will argue claim cont int, but they have never paid it & few banks do.
as for the subscription fee, again answered elsewhere.

if your true charges [minus what you thought you could claim] are not too far away from the co-op GOGW then my advise is accept it, end of story.

however, [again if you read recent threads] the sending of a list is a new tack, you might wish to get the statements & check it for yourself.

as for the 8%, read the FAQ's this is only used when you file MCOL.

hope this helps

dx100uk