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Barclays Overdraft Protection Reclaim


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Hi All,My wife has noticed that she is being charged £24 a month each month by Barclays for Overdraft Protection charged at a rate of 0.8% per £1,000 on a £3,000 overdraft limit. Apart from being a scandalously high rate for an almost worthless product, my wife not being the most financially literate in fact had no idea that she was even being charged for this and assumes that this was tacked on to her account when she initially activated the overdraft facility many years ago.I looked on the Barclays website for information and it appears that they've now discontinued the product to new customers - most likely as a result as the PPI scandal - but have very kindly kept it running for existing customers and continuing to fleece them monthly.Having looked online I've seen various templates to use in order to reclaim PPI sold with loans but was wondering if there was a particular process to go through with this Overdraft Protection Policy. I'm not quite sure when she opened the account but believe it was over 10 years ago so it's possible that she's been paying premiums for all this time. Do we have to contact Barclays to find out exactly how much she has paid over that period in order to produce a figure to reclaim? Also, what is the procedure for claiming on this type of insurance?Any help in pursuing this to a successful conclusion would be much appreciated.Thanks in advance,Kether

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Def go after it as i did & succeeded.

 

 

Hi All,My wife has noticed that she is being charged £24 a month each month by Barclays for Overdraft Protection charged at a rate of 0.8% per £1,000 on a £3,000 overdraft limit. Apart from being a scandalously high rate for an almost worthless product, my wife not being the most financially literate in fact had no idea that she was even being charged for this and assumes that this was tacked on to her account when she initially activated the overdraft facility many years ago.I looked on the Barclays website for information and it appears that they've now discontinued the product to new customers - most likely as a result as the PPI scandal - but have very kindly kept it running for existing customers and continuing to fleece them monthly.Having looked online I've seen various templates to use in order to reclaim PPI sold with loans but was wondering if there was a particular process to go through with this Overdraft Protection Policy. I'm not quite sure when she opened the account but believe it was over 10 years ago so it's possible that she's been paying premiums for all this time. Do we have to contact Barclays to find out exactly how much she has paid over that period in order to produce a figure to reclaim? Also, what is the procedure for claiming on this type of insurance?Any help in pursuing this to a successful conclusion would be much appreciated.Thanks in advance,Kether
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Hi

 

You need to go along to the fos website and download a copy of their consumer questionnaire ready for completion.

 

If this product was mis-sold you will want the premiums back plus the interest they charged you so you can use the attached spreadsheet to help you with that.

 

To complete the spreadsheet you will need your statements showing the payments of PPI made. If you haven't got them then you will need to SAR the bank to get them. Barclays will baulk at letting you have stuff more than six years old but a member ha recently got statements going back to 2001.

 

When you have done your spreadsheet and the fos questionnaire you send the to the lender requesting a refund. They will have 8 weeks to respond and give you a final decision before you can refer it to fos.

 

You can sue of you prefer but that will involve you in a lot of work and you must be prepared to actually get into the court room and argue your case with the judge

 

ims

If I have helped you please leave me a message by clicking my star

 

1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI

Read Here

3. Reclaim Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial

Read Here

5. Feel Bullied by Creditors or Debt Collectors?

Read Here

6. Staying Calm About Debt

Read Here

7. Thinking of a Full & Final Settlement?

Read Here

 

How To Upload Documents To Cag

Instructions

 

I DON'T GIVE ADVICE BY PM BUT IF YOU SEND ME A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER HELP THERE

 

 

 

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Hi

 

You need to go along to the fos website and download a copy of their consumer questionnaire ready for completion.

 

If this product was mis-sold you will want the premiums back plus the interest they charged you so you can use the attached spreadsheet to help you with that.

 

To complete the spreadsheet you will need your statements showing the payments of PPI made. If you haven't got them then you will need to SAR the bank to get them. Barclays will baulk at letting you have stuff more than six years old but a member ha recently got statements going back to 2001.

 

When you have done your spreadsheet and the fos questionnaire you send the to the lender requesting a refund. They will have 8 weeks to respond and give you a final decision before you can refer it to fos.

 

You can sue of you prefer but that will involve you in a lot of work and you must be prepared to actually get into the court room and argue your case with the judge

 

ims

 

ims, many thanks for your reply.What does SAR the bank mean?

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Hi

 

SAR = Subject Access Request....a request for data from the bank made under the Data Protection Act. Cost is £10 and there is a template in the CAG library, the link to which is at the top of every CAG page in green.

 

Also I see I forgot to link to the spreadsheet....here it is

 

 

CISheet v101.xls

If I have helped you please leave me a message by clicking my star

 

1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI

Read Here

3. Reclaim Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial

Read Here

5. Feel Bullied by Creditors or Debt Collectors?

Read Here

6. Staying Calm About Debt

Read Here

7. Thinking of a Full & Final Settlement?

Read Here

 

How To Upload Documents To Cag

Instructions

 

I DON'T GIVE ADVICE BY PM BUT IF YOU SEND ME A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER HELP THERE

 

 

 

Private message facilities are offered for users to communicate issues that are perhaps inappropriate for posting on the main forum. Site rules explain this in more detail.

 

If you receive a private message which you consider abusive, derogatory or otherwise inappropriate, whether it be about yourself or other members, please report it using the "report" icon

 

If you are approached (or have been approached) by private message with an offer of help "Off Forum" or with a view to asking you to visit another website, please inform the site team via the report icon, especially if this results in a request for a fee. Remember, this is for your own protection

my views are my own and are given in good faith to try and help people. Please seek professional advice on your case if necessary

 

PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

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Hi

 

SAR = Subject Access Request....a request for data from the bank made under the Data Protection Act. Cost is £10 and there is a template in the CAG library, the link to which is at the top of every CAG page in green.

 

Also I see I forgot to link to the spreadsheet....here it is

 

 

[ATTACH]32611[/ATTACH]

 

Thank you, you superstar. Much appreciated.

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