un1boy v HSBC - SETTLED!

dinghy · 1st June 2006, 17:14

Quote:

Originally Posted by Bookworm

No, because they won't tell us. If they did, that would be admitting they made a profit from those charges, and as they're not allowed to, that would effectively be an admission of guilt... Can't see that happening any time soon...

.

Not quite true... If they are as they say associated charges covering their losses (Ok we all know that that is a load of

but bear with me a second...) then if they are truely paying out just to avoid the costs of going to court then of course it's going to affect their profits...
Also will affect their profits if they are making a profit on these... Whether it will ever be categorised as such though...

In all honesty... What we have got out of the banks is just a drop in the ocean to them... I doubt that (at the moment) it even registers...

un1boy · 2nd June 2006, 09:49

Yeh, I guess you're right - what I meant was, it would be interesting to see when the annual profit statements are realeased how they compare to the previous, what with the amount of people that are now claiming - if they are less, then clearly they are making profits from the charges!!

overcharged_consumer · 2nd June 2006, 09:59

Quote:

Originally Posted by un1boy

Yeh, I guess you're right - what I meant was, it would be interesting to see when the annual profit statements are realeased how they compare to the previous, what with the amount of people that are now claiming - if they are less, then clearly they are making profits from the charges!!

Yup, and if you're a shareholder, sell now before they release any profit warnings!

un1boy · 2nd June 2006, 11:23

Hi there,

I am just completing calculating my charges from the statements I have been sent. When this has been done, which letter do I send?

I'm thinking of sending this one:
_________________________ ___
your address]

[their address]

[date]

Request for repayment of charges

Dear Sir/Madam,

ACCOUNT NUMBER: xxxxxxxxx

My request
I am writing to ask you to refund to me the charges which you have levied from my account over the last XXXX years.
I now understand that the regime of fees which you have been applying to my account in relation to direct debit refusals, exceeding overdraft limits and so forth are unlawful at Common Law, Statute and recent consumer regulations. If you say that they are not, then will you please demonstrate this by letting me have a full breakdown of the costs to which you have been put by as a result of my breaches, in order to reassure me that your penalties really do reflect your costs.
Additionally, it has now been confirmed that your particularly high level of penalties are considered to be unfair per se by the OFT who reported on the 5th April 2006 and are therefore presumed to be unlawful in the absence of specific proof to the contrary.

Your responsibilities
I would draw your attention to the terms of the contract which you agreed to at the time that I opened my account. It is an implied term of that contract that you would conduct yourselves lawfully and in a manner which complies with UK law.

I am frankly shocked that you have operated my account in this way as I had always reposed confidence in your integrity and expertise as my fiduciary.
I consider that your repeated representations that your charges are fair and reasonable are deceptive and that they have deceived me into agreeing to pay them.
Your concealment of the true nature of your charges has prevented me from asserting my right until now.

What I require
I calculate that you have taken £XXXXX plus £XXX which you have charged me in overdraft interest for the sum which you have taken. Total £XXXXX
Additionally you have entered a default notice against my credit record. This default occurred merely in respect of unlawful charges levied by you or was the result of impecuniosity caused directly by the taking by you of penalty charges which you had applied unlawfully to my account.

In addition to full payment of the sum mentioned above, I require that you remove the default entry from the register. Please note that mere correction or amendment to the entry will not be acceptable.

My targets to resolve this matter
I hope that you will enter into a sincere dialogue with me about this matter and I am writing this letter to you on the assumption that you will prefer to do this than merely respond with standard letters and leaflets.

I will give you 14 days to reply to me accepting, unconditionally, my request in principle and letting me know a date by which I will receive payment.

If you do not respond, or you do not respond positively, within this time period, I shall send you a letter before action giving you a further 14 days in which to reflect. I believe that these targets are more than sufficient for a large company such as yours with dedicated staff and departments.

After that, there will be no further communication from me and I shall issue a claim at the expiry of the second deadline.

Yours faithfully,

[name]

Red - only include if necessary

_________________________ ___

Is this the right one? If so, what so I enter when it talks about the "overdraft interest is:"

Please help!!

Thanks

barracad · 2nd June 2006, 11:25

Please read the FAQs. There is a step-by-step guide.

4th June 2006, 15:31

Please stay on this thread, I have merged your 3 others.

Louise

un1boy · 7th June 2006, 16:50

Hey Guys,

Just to let you, I've just sent my Premlin letter off to HSBC asking for £442.50, sent recorded delivery. We'll see what they have to say.

I'll keep you posted, of course.

Thanks for all your help and advise guys!

Un1boy

MOD NOTE: THREADS MERGED - You have been advised about this before - If you start a new thread again it will be closed.

un1boy · 9th June 2006, 16:21

Well, called the Roayl Mail's recorded delivery service and it seems HSBC received my prelim letter yesterday - I assume the 14 days includes weekends?

Also, I originally asked for them to send me a copy of all my credit card statements in my originial Data Protection Act request. They ignored that and only sent my my current account details - I have far more charges on my credit card!! hehe. I included in the letter that it was a second request of my first request!!

I'll let you know what happens!!

overcharged_consumer · 9th June 2006, 16:45

Yes, 14 days includes weekends. As someone pointed out - they're quite happy to charge you at weekends so why should they be discounted from your timetable.

OC

un1boy · 16th June 2006, 08:50

15 days into it and still not heard anything about my claim!!

Not received my credit card statements yet either, nor a reply to the request. Will call them later and find out what's happening with it!

Also, does anyone know if the OFT ruling means we can now only claim anythign above £12 per charge?!

Thanks guys!

dinghy · 16th June 2006, 10:07

Well are YOU satisfied that £12 is justified ? Or do you think that it is still in place as a penalty ?

The OFT has not said that £12 is necessarily fair. It has said that that is for the courts to decide... Although it will not itself investigate if under £12...

un1boy · 16th June 2006, 10:56

No, not all - I made a made a "Bank Account" program as part of my degree. took about 30 minutes then everything else was automated. All the user had to do was type in the amounts and whether it was deposit or withdrawal.

I set the charge amounts for going over the overdraft and then set it to withdraw that amount each time it "triggers" and goes over any agreed overdraft limit.

They are (edit) us, all it takes is 2 seconds for their programmers to change the values and then they just leave it and see the money come rolling in!!

dinghy · 16th June 2006, 11:00

Think you may have just answered your own question then...

Spiceskull · 16th June 2006, 13:09

Quote:

Originally Posted by un1boy

No, not all - I made a made a "Bank Account" program as part of my degree. took about 30 minutes then everything else was automated. All the user had to do was type in the amounts and whether it was deposit or withdrawal.

I set the charge amounts for going over the overdraft and then set it to withdraw that amount each time it "triggers" and goes over any agreed overdraft limit.

They are (edit) us, all it takes is 2 seconds for their programmers to change the values and then they just leave it and see the money come rolling in!!

This is an interesting post. Clearly this was a project you worked on yourself, but I expect you were given some examples and guidelines by way of explaining the concepts...

Any idea where we can find some reference sources...it could be helpful to the cause...

See the steps I took to get my bank charges back.
Spiceskull v HSBC.
Thank you Consumer Action Group.
Read my blog.

un1boy · 16th June 2006, 16:57

Tell me about it, it weas such an enlightening project!

Yes, tutors gave us an example etc - I'll have a look through my wardrobe and computer files and see what I can find - think I might have shucked it out though.

Will let you know what I find!

Spiceskull · 16th June 2006, 19:05

Quote:

Originally Posted by un1boy

Will let you know what I find!

Brilliant - thanks.

See the steps I took to get my bank charges back.
Spiceskull v HSBC.
Thank you Consumer Action Group.
Read my blog.

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