Paid Referral Fees Anyone?!?

[Don Quioxte]

On my student additions account Barclay have a system whereby they apply automatically a "paid referral fee" of £10 when you quote "..exceed your overdraft limit by £25 or more"...

 

I want to calculate these charges along with the more expensive returned direct debit/cheque fees (typically £25). My only concern is that because the paid referral fee is under the OFTs published £12 threshold that this might weaken my case..

 

should I proceed to demand refund for the paid referral fees too (heck, I know it doesn't cost them £10 to send the automatic letter anyway!!)?

[heppy23]

Just claim for it. The OFT thing is just a recommendation. It's not set in stone.

And it doesn't say anywhere it is retrospective. The banks will try and use it to fob you off though.

[slick132]

Hi DQ,

 

If you simply write asking for a refund of Reserve Usage fee or the default charges, Barclays will turn you down flat.

 

The OFT's £12 ceiling that you refer to was set with regard to credit card, loan and catalogue a/c's.

 

If you are suffering Financial Hardship (quite likely if you're a student) you could try reclaiming the default charges by referring to The Lending Code - http://www.consumeractiongroup.co.uk/forum/content.php?557-Letter-for-an-application-for-consideration-for-hardship

 

If you have a credit card where penalty charges have been added, you can reclaim these in full, regardless of whether they're at or below the £12 OFT ceiling.

 

[Don Quioxte]

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