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Jamstar

Barclays overdraft interest for unpaid cheques

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Hi

 

Just seeking a bit of advice.

 

My brother wrote out 2 cheques but they were cashed before he had a chance to move money into the account.

 

Anyway, so initially the money "left" the account and his account went overdrawn. The next day he was charged £30 for paid referal, then immediately credited it again (dunno why). The next day they charged £35 for UNPAIDS OUT and both the cheques were returned unpaid (as to be expected since they were for a few thousand each).

 

So he then rewrote the cheques and stopped using the account for several months. He had a few pounds left in the account (even having paid the above fee) and so never looked at the account for ages and the moved.

 

Well about a month after the above, they charged "overdraft interest", it was about £9.50 or so but this was enough to put him overdrawn by a couple of quid. Since he didn't use the account it was like this for several months and the Reserve Fees amounted to £440 and he had his account closed and passed to a DCA.

 

I'm chasing this on his behalf (mainly cos I have no job atm!) but is it correct of them to charge interest on money which they never paid out?

 

You know what these DCA's are like, they'll say that it was!

 

cheers

Kam

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Hi Jam,

 

I don't know that you'll be successful in arguing about the overdraft interest.

 

But you should write to Barclays seeking repayment of the default charges made to the a/c and interest charged thereon. When they refuse to refund, take the matter up with the FOS.

 

Read this thread - http://www.consumeractiongroup.co.uk/forum/barclays-bank/181529-right-war-bookie-barclays.html


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Hey Slick

 

Thanks for the response.

 

I'm not sure why they charged interest even though the cheque never cleared. I mean, the cheque never cleared so the money never left the account right! Crazy!!!

 

I been following the other thread. I will follow the same course of action if they don't accept the interest argument.

 

The £35 they charged for returning the cheque unpaid, presumably that is reclaimable? Just reclaiming that puts the account back into credit as well.

 

I'll try reclaming the interest first, and then the other charges. These are the only charges that have ever been applied to the account!

 

cheers

Jam

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The £35 they charged for returning the cheque unpaid, presumably that is reclaimable?

Yes it is, subject to the outcome of the OFT test case and appeals.


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Sweet, thats good to hear. Least if they don't repay the interest, I can hit them with this... having said that, I will anyway :razz:

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Hey all

 

I was wondering if anyone knows whether Barclays are allowed to charge interest on "overdraft" for cheques that were returned unpaid?

 

Since I can no longer pursue the £35 charges, I ahve to go after the interest. Basically 2 cheques were written out, but returned unpaid since they were for several thousand pounds (was expecting money, got delayed, got re-written few days later).

 

The money appears to have left my account, then the next day "put back in" and returned unpaid. But then they have charged me interest for the 1 day that it "left my account". Are they allowed to charge me this (as well as the £35 unpaid fee)?

 

thanks

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Hi JS,

 

I could see you writing several letters arguing this point, but getting you nowhere with Barclays.

 

Try complaining if you want but I expect they'll say the interest has been levied correctly for the time the monies left the a/c. :mad:

 

:)


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That's b****x, how can they charge interest for a payment they didn't make... AS WELL AS charging £35 for returning the cheques unpaid.

 

It left the account for a day, but then they returned it. If they were going to return it unpaid then they should not have taken the money out the account. Surely they don't need to take money out the account in order to decide that they aren't going to pay it?

 

I'll write to them and await their reply.

 

cheers

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Hi JS,

 

That's b****x, how can they charge interest for a payment they didn't make... AS WELL AS charging £35 for returning the cheques unpaid.

I'll assume you didn't mean your reply to look quite so rude.

 

You may think it's b****x, but it's my opinion which I thought you were seeking.

 

I was not saying it is right, nor was I saying it's fair.

 

I think you'll get nowhere complaining about this, but I hope you can prove me wrong.

 

Please update us. :)


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That wasn't meant at you, i appreciate any replies. It was more a general "all banks are a bunch of b*stards" b****x... :-x

 

I'll let you know what they say... although as you say, i already know what the answer will be. I'll keep complaining though and push this up to the ombudsman cos i do think this is rubbush! Nothing to lose...

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Ahaa, thanks for clarifying.

 

As you say, nowt to lose.................;)


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What an interesting point. Effectively they have charged almost £500 for returning 2 cheques on what then became a dormant account. Seems therefore you have a hardship argument as the effective charge is excessive and your complaint has a good chance of being upheld.

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Hi Jammy,

 

Can you confirm if your post #6 relates to the original opening post on this thread.

 

Or have you posted a new query about a different matter.

 

:confused:


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