Another thought has struck me. If Tom Brennan is successful in his action against NatWest then I might be able to hit them for damages as well. AQ

Hi All. This is fascinating stuff. Some years ago (at least ten) there was a flurry of activity over the miscalculation of the daily rates of interest charged to overdraughts on business and personal bank accounts. This was spearheaded by a bloke called Mark Radin and his company Anglia Business Associates. He found that these interest calculations were almost routinely wrong and that with compound interest added there were often large errors being made on overdraught interest. I engaged the services of a similar company called Audit (UK) Ltd to do an audit for my business account and we found errors to the tune of about £1400.00, which NatWest admitted to and were prepared to refund. Audit UK then hit them with the ‘whammy’ that due to this over charge they had subsequently bounced cheques and debits and were therefore liable to also refund any and all charges plus compounded interest that had been raised as a result. As you can imagine NatWest back-peddled quicker that Freddie Flintoff on a pedalo, they stuck to their original offer but it was in ‘full and final settlement’ etc. As I felt there was ‘more to come’ I rejected the offer and its limitations. If only this information about the penalty charges also being unlawful was available at the time we could have taken them to the proverbial cleaners, as they were charging me £27.50 a pop back in those days. The good news is I still have all the paperwork and the correspondence so I am going to have a second go at dear old NatWest and shall hit them with the ‘double-whammy’ of interest charges and penalty charges combined plus compounded interest. I am pretty sure I have statements that go back as far as 1985. But first I need to reclaim some smaller personal bank account and credit card charges to build a fighting fund so I can go after them properly. Wish me luck! AQ