Deena V Nationwide

[deena]

Hi

 

I'm doing this for my son and I'm not sure if I've worked out the charges correctly. I have copies of most of his statements for the last five years and have added up all the unpaid dd, unauthorised overdraft charges etc. I made it £632.50 then I added up all the interest itemised on the statements added it to the charges and came up with a total of £1045.12. I sent a preliminary letter requesting a refund for that amount. What if I've claimed the wrong amount - I didn't use the spreadsheet? I think I may have asked for too much back.

Thanks for any advice you can offer.

[jonni2bad]

Hi deena - Welcome aboard

 

Sorry we missed your post until now.

 

If you take a really good luck in our FAQ section you should hopefully see most, if not everything, covered in there. It is worth reading several times (square eyes at the ready...)

 

Interest should only be added if it was solely due to charges imposed - i.e. not standard overdraft interest. If the statements do not break this down it can be very difficult to work out and so many people do not bother.

 

If the statements clearly separate the interest, then that would be fine.

 

The spreadsheets we supply work out 8% interest on each charge, from the date incurred. This type of interest should only be claimed if the case reaches the court action stage.

 

You say you have most statements - what periods are missing? Would you not contemplate asking for all the information, so that you have a definitive figure?

 

John

[bram stoker]

Hi,

 

Don't worry about it. You've probably asked for too much. If the amounts were larger I would say it will probably end up almost correct, but it's not.

 

If the bank doesn't pay before you raise your claim in court, you can re-calculate at that point, then add the 8% also.

 

Let me know if you need any help with the spreadsheet.

Vamp.

[deena]

Thanks for your reply.

That's reassured me, I was worrying that if I've gone over the top in initial request I've messed up future action, and spoilt chances of getting the money back. I've had the standard "Thank you for your letter of 4th June, about charges incurred on your Flexaccount. Feedback from our members is absolutely invaluable, so we appreciate the time you've taken to get in touch with us about this issue, and we're grateful for the opportunity to explain the rationale behind our charging policy. Etc, etc". So I'm nearly ready to send the letter before action do I need to send them a copy of the spreadsheet calculations, or can I simply put the amount I'm claiming again, or should I recalulate at this stage?

 

Thanks again

Deena

[Janet-M]

In yout LBA ask for the correct amount, so yes you need to recalculate, send a copy of the spreadsheet to as this will serve 2 purposes ..1 at some point you need to show them how you came to the figure you are claiming so now we say to put it in with all your letters then the bank can't argue that they have never recieved it .2 It will show how your now asking for a different amount to your first request without the need for you to go in to explanations in your letter.

 

If you need help with your spreadsheet just let Vamp know , as she said .

 

EDIT

 

of course people have different experiences and may give you different advice so you must use your own judgement on who's advice you take

[callumsgran]

sorry mjanets post crossed with mine, follow mjanets advice, she is more expert than me!

[Janet-M]

I am not an expert , my answers are my own opinion based on my own experiences and following the claims of other users .Please read my signature.

[deena]

Thanks everyone.

I've recalculated and will post LBA tomorrow asking for £403.50 without the 8% interest. Am a bit fearful of issuing court action but will do so if no response. Here we go forward into battle!

Deena

[deena]

Hi

When completing the online moneyclaim form a window regarding interest pops up. Right at the end it say to enter the daily rate of interest. Can someone please tell me what is the daily rate of interest? I don't know what to enter for this last figure.

Many thanks

[Michael Browne]

You calculate this by multiplying the total of the charges you are claiming by 0.00022.

 

eg £595 x 0.00022 = £0.13p. It means that a claim of £595 would earn an additional 13p every day between filing at moneyclaim and settlement by the bank.

[deena]

Thank you for your reply. Another question is it worked out on the first total of charges or the charges plus 8% accumulated interest?

[Michael Browne]

First total of charges, otherwise you're charging 8% on 8%

[deena]

Thank you.

Since posting my question I've received another statement with more unauthorised overdraft charges. Should I add this to my total as well or simpl ignore it?

[Efalumps]

Where on this forum is the money claim form?

I cant find it anywhere.

I am overdrawn by £200 by nationwide And I dont have any overdraft.

this is all due to their charges.

[MARTIN3030]

The moneyclaim form is only for use when you have exhausted all the lines of provedure........ie wtitten to your bank and ask for it back.

I presume you have read the forums and the faqs ?

 

https://www.moneyclaim.gov.uk/csmco/login.jsp

 

 

Here is the link for moneyclaim.

What steps have you taken already ?

[deena]

I've finally managed to submit my moneyclaim online application tonight. So here's hoping! I just hope they don't defend and make me go to court. They are such b*****ds I've got my new account set up ready and hope that they do close my account with them. In fact before I discovered this site I had borrowed money from my dad to pay off my overdraft and at that time I requested that they close the account. Guess what my payment paying off entire overdraft was a couple of days late so from a 0.00 balance I'm in the red again becuase of their stinking charges.

 

I want to thank everyone involved in this site and if I get my charges refunded I will definately be donating 5%. Fingers crossed please everyone.

[caro]

I have merged your threads so it is easier for us all to keep track of your progress to date.