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Can anyone help clarify the 'monthly overdraft charge' (mod) that A&L charge. I have just received the last 6 years worth of statements and have so far totalled £389. What is confusing me however is this monthly overdraft charge. This varies from month to month, from £0 through to £25 and appears to be applied irrespective of me going over my limit or not. I am of the understanding that the overdraft was 'free' albeit it did incur interest each month should you use it. All i want to know is, can i claim these charges back? I can see no reason why the charge fluctuates so much from month to month, the only conclusion i can draw is that in previous months towards the start of my account opening there were daily charges for going over the limit. This seems to have been dropped by A&L as i go through the statements.
I would be really grateful for any advice. If anymore info is required please let me know.
hi tony, i think but dont quote me on this that this may be the £5 charge that you have to pay I.E. day 2 and day 5 if you are over your overdraft limit.hope this helps,rob.
Authorised £5
_________________________ ______
Unauthorised
Day 1 No Charge
Day 2 £25 Charge
Day 3 No Charge
Day 4 No Charge
Day 5 £25 Charge
It would seem the above replaced the daily charge of £3.50, going by this i assume i can claim the £25 back in the same manner as i am for the previous daily charges.
When the Liberals and Conservatives were in opposition they both agreed that banks should pay back high bank charges to customers. Nothing seems to of happened since they came into power as a coalition. PPI insurance has been sorted now they should turn their attention to bank charges and help customers get exorbitant charges refunded.
Should you be offered help that requires payment please report it to site team.
Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007
Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06
Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007
Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.
I'm preparing the letter asking for the cash back. In total over the space of 5 years this adds up to £661 :o , the interest on the spreadsheet comes to £159.19. Would this be correct?
My other query is this, the preliminary approach for payment letter template states the total they have taken and also interest.
Originally Posted by Prelimary Payment Letter
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 .
Do i include this in the preliminary request? i.e do i just ask for the £661 or do i ask for the full amount including the interest, reading through various posts and the FAQ i am under the impression you can only ask for interest when it goes to court.
1. The overdraft interest paid on the unlawful bank charges, which you can claim in the preliminary letter (To calculate this see Vampiress' spreadsheet in the templates library.
2. When or if you do a moneyclaim, you can claim 8% on top of the overdraft interest and charges. (This is the other spreadsheet in the library).
Take a look at the spreadsheets, but let us know if you have any problems.
When the Liberals and Conservatives were in opposition they both agreed that banks should pay back high bank charges to customers. Nothing seems to of happened since they came into power as a coalition. PPI insurance has been sorted now they should turn their attention to bank charges and help customers get exorbitant charges refunded.
Should you be offered help that requires payment please report it to site team.
Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007
Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06
Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007
Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.
A & L Monthly Overdraft Charge - Advice Required
charge' (mod) that A&L charge. I have just received the last 6 years
Reply With Quote
Re: A & L Monthly Overdraft Charge
Originally Posted by Prelimary Payment Letter
