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Confused-clarification please


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I've just received all my statements and calculated the charges, in preparation for sending the prelim. request for refund. However, reading the template letter I noted the following:

 

"What I require

I calculate that you have taken £XXXXX plus £XXX which you have charged me in overdraft interest for the sum which you have taken. Total £XXXXX "

 

I was under the impression, from reading around the forum, that we couldn't claim for any interest unless it was the 8% when/if it went to small claims court.

 

Could someone please clarify the position on this, and if I do claim the overdraft interest, how do I differentiate between interest on the charges, and normal overdraft interest.

 

Thanks in advance

 

Pam

Advice & opinions given by pjdudley69 are personal, are not endorsed by Consumer Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional. Also visit legal seagulls for more friendly help and advice.

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Hi Pam,

 

You can claim for everything on your statements that is not a justifiable service fee:

 

Claim:

  • Penalty Charges applied to your account. This is for exceeding overdrafts, referral/representation of DD’s and SO’s, cancellation of DD’s and SO’s, card misuse charges…the list is long!
  • Interest charged to your account for any of the above
  • When the interest is applied to the penalty charges, then this interest should be included
  • If your transaction history identifies what interest is applied for what reason, then be honest about the amount you request
  • If the interest is not itemised, then claim for ‘Interest Charges,’ and the onus will be on the bank to demonstrate the proportion they are entitled to

 

Don't Claim:

  • Agreed fees, such as £5 monthly overdraft arrangement fee
  • Any concept of costs or time at this time
  • Interest other than that which appears on your statements
  • Interest at 8% APR (that comes when you raise your claim at court)

Alecto, Magaera et Tisiphone: Nemesis on Earth is come.

 

All advice and opinions given by Spiceskull are personal, and are not endorsed by Consumer Action Group or Bank Action Group. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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Thanks for that, it was really helpful. I'm all ready to send off my letter now.

 

Because I couldn't differentiate between normal OD interest, and interest on charges, I've just had to go through the statements and add up the interest in the summaries where it shows what charges are to be taken off. It's only £19.91, so it can't be too much over the top - I'm sure that YB will tell me what is legitimate interest and what isn't.

Advice & opinions given by pjdudley69 are personal, are not endorsed by Consumer Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional. Also visit legal seagulls for more friendly help and advice.

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  • 12 years later...

This topic was closed on 08 March 2019.

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If you would like to post up some information which is relevant to this particular topic then please flag the issue up to the site team and the thread will be reopened.

- Consumer Action Group

Advice & opinions given by pjdudley69 are personal, are not endorsed by Consumer Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional. Also visit legal seagulls for more friendly help and advice.

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Please note that this topic has not had any new posts for the last 5338 days.

If you are trying to post a different story then you should start your own new thread. Posting on this thread is likely to mean that you won't get the help and advice that you need.

If you are trying to post information which is relevant to the story in this thread then please flag it up to the site team and they will allow you to post.

Thank you

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