Question regarding charges...

[xuntitledx]

I have a general question and was hoping someone would be able to answer - just out of curiosity really.

Reading these forums and other similar sites, I can see a lot of people are claiming back overdraft charges, failed direct debit charges, late payment fees, non direct debit charges etc and was wondering why?

Is it for the reason that most companies/banks overcharge grossly for these charges and penalties they impose or is there a legal reason behind it?

I'm curious as I *knock wood* have never made a payment late or had a direct debit fail however I would have thought, as per the terms and conditions of the company that you've agreed to, that if this was the case then it would be correct and chargeable.

If this is the case then, would you argue the charge immediately or wait until it adds up over time and try and claim back hundreds or thousands?

Thanks

xuntitledx

[godpikachu]

People claim the charges back because banks over charge for something which has little, if any, cost to them. Also, a lot of the time people werent actually aware that these charges were being levied against them in the first place.

 

In a world where a working family cant afford food or house payments, it is discusting that banks walk off with stupid amounts of money which they have pretty much embezzled from their customers.

 

for example, you go £1 overdrawn on your account, but yet the bank charges you a £25 fee for this...how is this justified?, it cant be, and the banks have aknowledged that they cant justify the charges, so people do right to demand them back with interest.

People give banks their money to keep safe and hopefully invest wisely for them, but all they get in return is banks charging them for anything that they can get away with and leaving them out of pocket with charges, penalties and other random made up crap that helps the shareholders live their discustingly priviledged lives.

[yourbank]

I would read the Unfair Terms in Consumer Contract Regulations 1999(referred to as UTCCR). That is about the fairness of charges. The "penalties in law" doctrine is not really relevant for most banks.

[gyzmo]

It also comes down to basic contract law. More and more, the law protects the consumer from an unfair bargain, but not a bad one. It is a doctrine established from hundreds of years of case law and is well established.

[xuntitledx]

Thanks for the responses.