Hi Guys wondering if somebody could help me out? been flicking through the forums but can't find the answer. I'm trying to work out what the daily rate of interest would be on 8% per annum, percentage wise. i know it's 0.00 something something something ... does anyone know what the "something something something" is?? lol I'm not usually quite this thick but my brain hasn't kicked in today due to a distinct lack of caffeinne (alot to do with the banks "borrowing" another bundle of my money and leaving me short of grocery money) alternatively .... if any of you charitable lot feel inclined to assist me in the donation of a large amount of nescafe gold blend, it would be very much appreciated too lol Onwards and upwards (on pro-plus for now) lil_jo

Hi Pete Thanks for your reply, I decided to claim contractural interest as a way a re-couping some i've the interest i've paid to the banks on their "unarranged erm .... borrowing???" on my account. I was tempted to go for the higher rate but felt that i was getting a little out of my depth and didn't want to risk having my claim knocked back if it reached court. This way, if it reaches the court stage, i will argue that i would have been entitled to use a higher contractural rate and therefore the contractural rate i am charging is fair and reasonable (and i'm chicken lol). If they settle before going to court, i'll get the interest and the charges instead of just the charges. If they settle out of court and i hadn't claimed contractural, i wouldn't have been entitled to any interest at all. Do you mind if i use the wording on your last post for my POC too? was getting worried as to how i would word it lol Thanks again lil_jo

Hi Guys Just wondering whether anyone had had any luck in claiming back their charges with contractural interest? I'm based in Scotland but bank with Natwest, i've decided to claim contractural interest at 8% instead of the standard 8% if it goes to court ... reason being that i'll hopefully get the interest even if they settle before the court date. Would claiming the contractural interest make them more determined to challenge in court? or would they act as they have been acting and pull out at the 11th hour? Charges and interest total £2200, so i'm deciding at the moment whether to pursue throu the small claims (max £750) several times, or through a summary action (max £1500) with an additional small claims action. Thoughts on this would be appreciated!! lil_jo

Hi June, The spreadsheet is added to your prelim letter and sent to the bank. At this stage, the only thing you are reclaiming is the charges themselves, so unless you are going for the contractural compounded interest, leave the 8% interest off untill you reach the court stage. Send the letter to them by recorded delivery, it'll cost about a pound, but you have peice of mind that they've rercieved it --- then sit back, relax and wait for a) an very nice letter from them telling you to keep banking , or b) 14 days to pass before you send your LBA. GOOD LUCK!! lil_jo

OOOppps, sorry martin, posted before i'd read the post about "certain words/phrases" and the banks possible view of defamation in the bear garden ... i'll be sure not to post things that accuse banks of a criminal act for unlawfully using our money again. Thanks for pointing this out lil_jo

Yep, thats correct. you should only add the 8% interest at the last stage when you're going to court. your spreadsheet that goes to the bank with the prelim letter, is just for the refund of the charges themselves Hope this helps, GOOD LUCK!! lil_jo

PRICELESS!!!! wish i'd been a fly on that wall lol. well done you!

It's about time!!! The more pressure they get from customers to refund this the better --- can you imagine how much it's costing them in legal fee's to refuse these actions, then the inevitable refund?? bet it eating into the 34bn the top 5 banks made from us last year lol I think the guy who coined the name "BANKER" was, infact, dyslexic ... or really really bad at spelling

Hi June If you're claiming in Scotland, you can only claim back 5 years due to the limitations act etc. You can claim 6 years in england but you'd have to go through MCOL and have an address in England or Wales for correspondance, the amounts you can claim are also different. The maximum for the Scottish small claims is £750 (£1500 for a summary cause action) whereas it is £5000 through the english system for small claims (i think). When you're sorting out the spreadsheets, list the earliest charges first. ie if your first claimable charges were taken on 12/02/02, you'd list this first, charges, say from this month, would be at the bottom of the spreadsheet. The spreadsheet works out how many days interest the bank owes you automatically. Not too sure about the charges you mention, but if RBOS are anything like my bank, the charges relating to special services (monthly charge for gold customers etc) are usually deducted on the same date each month and are for the same amount, this may make the other charges on the statements easier to fathom. I hope this helps, but if any info here is wrong, feel free to jump in and help!!!! lol Good luck lil_jo

Hi Forteboy We're in the same boat at the same time lol ... i sent my LBA to cr*pwest on 8th November, heard nothing yet (no surprise there then ...) I decided to send all correspondance directly to the branch by recorded delivery, afterall, as soon as it arrives the clock is ticking ... and if they have to be a little bit more organised to get the letters / forms etc to the correct deparrtment then so be it ... the clock still ticks. In my opinion, they harp on about having local branches etc, and i've always dealt with my branch directly ... why change now?? lol. My thread is in the scotland forum under "gimme_my_money Vs Natwest" (long story .. had to re-register with a new name as had real problems logging in / password etc) I'll be following your thread closely, good luck!! lil jo xx

ohhh yeah .... forgot to mention. I recieved a letter from the bank a few days ago telling me that a direct debit had been refused and that they'd applied another extortionate charge to my account. They included a copy of their "charging schedule" and T and C's. ... interesting as it's the first letter regarding charges that i've recieved from them in years and i've been charged EVERY MONTH. I'll be keeping the T and C's as i've read elsewhere on the site that the judge had asked for a copy in court. Thanks Cr*pwest!

CONGRATULATIONS ARLENPHOTO!!! Fantastic news!, hope i'm as lucky!, I've been causing a fair bit of trouble since i was last on here. I sent off the prelim letter to request the charges back, recieved a letter back explaining they they were looking into the charges and would contact me. I recognised this to be "delay tactics" so i proceeeded along the origonal schedule and issued them with the LBA on Weds 8th November. While waiting for the time to send the LBA, i contacted various MP's and recieved a reply from Gordon Brown's office letting me know that they would also be looking into this (see previous post re: benefit theft from banks). I included a copy of the original letter to Gordon Brown and also their reply with the LBA to the bank. I was on a roll ... so i decided to include a seperate sheet of paper to clarify all my details (full name, address, account number etc etc) and explained that i intend to take this further if my refund request was declined, that a cpr part 18 was unneccessary due to the claim being a small claims procedure and would therefore be seen as intimadatory, in addition, i would issue the bank with my own cpr part 18 request asking them to disclose a breakdown of all the charges applied to my account and how they formulate the cost of the charges. I also added a note at the bottom of the pages stating that ALL of my correspondance with them will be made available to the court (trying to pre-empt any more of their intimidation tactics). It may have been OTT .... "but your honor ... i had PMT" STILL WAITING FOR A RESPONSE lol

GGGGRRRRR .... Lost my password and had a nightmare of a time trying to log back in (hence the reason i've been AWOL). No Joy, so i'm here under an alias (ok, ok, i started another account without using the "almost-on-line" email addy) Hope this doesn't confuse anyone .... Just for the record stevokenevo .... i was tempted to use "helga" as my username, but for the sake of security, i decided not to Will update you all ASAP J (aka gimme_my_money, aka Helga, aka lil_jo)