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The book is easy to understand and clearly explains the rights
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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...
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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!!
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!
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:"
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Opinions given herein are made informally by myself as a lay-person in good faith based on personal experience. For legal advice you must always consult a registered and insured lawyer.
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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 DPA 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!!
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.
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...
If you have found this post (or any other post) useful ensure you click on the scales in the top right of that post to give credit where credit is due.
As ever, with (I believe most if not) all advice given on this website, I am not qualified to give any advice and you are duly warned that any decisions are your own decisions made on your own account and no liability will be accepted for any advice followed ! Use your own judgment. Seek advice of a qualified, insured, professional if you have any doubts.
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!!
Think you may have just answered your own question then...
If you have found this post (or any other post) useful ensure you click on the scales in the top right of that post to give credit where credit is due.
As ever, with (I believe most if not) all advice given on this website, I am not qualified to give any advice and you are duly warned that any decisions are your own decisions made on your own account and no liability will be accepted for any advice followed ! Use your own judgment. Seek advice of a qualified, insured, professional if you have any doubts.
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...
Alecto, Magaera et Tisiphone: Nemesis on Earth is come.
All advice and opinions given by Spiceskull are personal, and are not endorsed by Consumer Action Group or Bank Action Group. 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.
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.
Alecto, Magaera et Tisiphone: Nemesis on Earth is come.
All advice and opinions given by Spiceskull are personal, and are not endorsed by Consumer Action Group or Bank Action Group. 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 sent a letter to HSBC asking for a copy of my credit card statements, which were requested as part of my original DPA disclosure reqest but never sent. Although both accounts were closed and sent to a debt collectors, I had an ISA account with nothing in it, but kept it open so I still had access to the Internet Banking Site.
Well, I sent them a secure message asking fo rdetails on how to contac tmy branch regarding two lettters that I have sent them. I got this reply back:
_________________________ __________
Thank you for your e-message received 16 June 2006.
I apologise for the inconvenience caused.
I confirm we have received 2 letters concerning the repayment of charges and Data Protection Act Disclosure request on 12 June 2006. My colleagues are currently investigating your complaint.
Further to your query, I confirm you can call our Customer Service Centre at 08457 404 404 (UK) or +44 1226 261 010 (Overseas) where my colleagues will assist you in contacting your account holding branch.
Please do not hesitate to contact us, should you have any further queries.
_________________________ ____________
Hehe, now I definitely have proof that they have received them.
Quick question, if I sent them a DPA disclosure request and they sent my current account statements, but not my credit card statements, shoudl the credit card statements have been sent to me within 40 days? Can I do them for this as well?
Well guys, here is waht I have sent them in reply to their previous Secure Message:
_________________________ ___
Thanks for your reply.
I would like to point out however, that according to the Royal Mail's Recorded Delivery Service, the repayment of charges letter was received by HSBC 08.06.2006. Therefore any deadlines will be calculated from that date. Due to
this, I should expect to receive a reply to the charges letter by 22.06.2006. If
I have received no reply, or one that is unsatisfactory by that, the next step
will be inititated.
Also, the DPA disclosure request was received by HSBC 07.06.2006.
Please confirm both of these dates asap.
Thanks.
_________________________ ___
What do you think?
I just want them to know I mean business and WILL NOT let them drag their feet. I am right in what I say aren't I? That it's from the date the letter is received full stop, rather than just when received by the "relevant" department?
That it's from the date the letter is received full stop, rather than just when received by the "relevant" department?
It's actually from the date they receive the statutiry £10 fee...if you enclosed this with your request letter, then all well and good. If you sent a cheque, or anything else that they could delay over, then it will be from the day they cash it...
Alecto, Magaera et Tisiphone: Nemesis on Earth is come.
All advice and opinions given by Spiceskull are personal, and are not endorsed by Consumer Action Group or Bank Action Group. 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.
un1boy v HSBC - SETTLED!
Originally Posted by Bookworm
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...
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