Claiming charges back

[Mystery M]

I have recently left a major bank's complaints department where we were dealing with all of you guys complaints about charges.

 

Just wanted to say that you can go down the DPA route but it takes a lot longer to get anything done.

 

Save yourself a tenner and just tell your bank that you want your last 6 years of charges back. I know the bank i was working for had set up a 'task force' to deal with all the complaints we were getting about the charges.

 

Best of luck trying to get them back, but as a by word the banks need to issue their response to the charges issue at the end of May and it looks strongly like they will be going down. BUT no more free banking....

[Guest Lueeze]

have you told Bankfodder or Dave that you have joined?

 

Bank emplyess have to advise before posting...

 

Unfortunatly we have to go down the DPA route as bank statements are not all we need to know aobut our accounts. Also some bank have ont included all the charges, and some banks will not give the statements, and If we dont do the DPA correctly we cannot complain to the IC or get a court to action this!

[Mystery M]

I would much rather keep things anon as haven't got my reference yet!

[Guest Lueeze]

Im very sorry, for obvious reasons, we wont ask your personal details, but you must email BF or Dave and just advise you are here!

 

 

Sorry if this sounds grumpy its rules to protect our users, hope you enjoy the stay

 

Lou x

 

Sorry i just reread your post and saw that you only just left the bank you worked for, this should be okay, but go ahead and email, maybe you can offer some advice....anyway thanks

 

Lou x

[Mystery M]

Well i guess i wont be coming back again then...

[Guest Lueeze]

Sorry my fault please read above post....

[Mystery M]

All i am saying is having dealt with all these cases it really isn't necessary. 95% of ppl using this site and getting all the information aren't claiming interest back and have no intention of going to court they just wont their original money back.

[Tinkerbelle]

Please don't leave us Mystery M!! We welcome your presence and advice!

[Mystery M]

not at the moment i'm not Luzee is sorting things i think!

[Tinkerbelle]

Phew!! Thanks goodness for that!

[Guest Lueeze]

Yeah dont worry im just double checking...

 

Im nuts you see i have 2 kids that turn my brain to mush!

 

Sorry, friends?

[Mystery M]

Its all good!

[Guest Lueeze]

From the last sentence, do you mean that the banks will no longer charge penalties? Just charge monthly/annually?

[Mystery M]

Nothing is set in stone and each bank will be different but it looks like they will most likely either charge a monthly fee for the account or charge per direct debit and so on...

[Tinkerbelle]

also, what is the atmosphere like in the Big Bad Bank? Are they concerned at the number of requests for refunds? Are they annoyed with us? What do they have up their sleeves? Are a lot of people accepting settlements and not going for the full amount?

 

Lot's of questions I know! LOL - Just DEAD curious!!!

 

So!!! What's the goss???

[Tinkerbelle]

Nothing is set in stone and each bank will be different but it looks like they will most likely either charge a monthly fee for the account or charge per direct debit and so on...

 

Jeez, are banks meant to make a profit from us or not?

[Guest Lueeze]

Hey tink dont hold back eh!

 

We are grateful for the infomation though!

 

I dont suppose you are going to get any charges back from your old bank? Thats if you have any!

[Mystery M]

also, what is the atmosphere like in the Big Bad Bank? Are they concerned at the number of requests for refunds? Are they annoyed with us? What do they have up their sleeves? Are a lot of people accepting settlements and not going for the full amount?

 

What you need to remember is that thee are multi million pound companies and they make money in so many different ways.

 

I think they are concerned that they will have to change the way they charge which will cost millions of pounds to change their systems. That is what I think they are concerned with plus any time constraints placed on them too.

 

But then I wasn't a top honcho so we weren't told everything

[Tinkerbelle]

Lueeze! Hey!! I like being "informed" what can I say! LOL

 

Mystery M - Thanks for that - I'm glad we are causing them some headache!

[Guest Lueeze]

Is this change in their contract, ie charging for DD/monthly LEGAL?

 

Surely if you sign an agreement they cannot just change important things like that?

 

And people on benefits, surely are entitled to free banking if they HAVE to get benefits paid into accounts?

[jonni2bad]

....95% of ppl using this site and getting all the information aren't claiming interest back ....

 

There is a big problem with working out overdraft interest that was made solely on the charges imposed.

 

Whilst some banks do differentiate between the two types, many do not. There is likely to be a much smaller amount invloved anyway, so the advice given can often be not to claim this figure, and if the case did ever go to court, you would have an arguement that you had provided a payment for the breaches.

 

If this is not what your statement referred to, let us know!

[Mystery M]

No Lueeze I've never had a charge! But I do realise that they are a lot of money!

[Tinkerbelle]

And people on benefits, surely are entitled to free banking if they HAVE to get benefits paid into accounts?

 

I was thinking that too....

[Don Quioxte]

BUT no more free banking....

 

Banking isn't free. Never has been. That's like a casino saying you don't have to pay to come in and play.

 

It's a no-brainer. Banks make a huge amount of their profits and annual turnover from services which are supplied on an interest applied basis, or legitimate pre-disclosed charges. The unlawful charges is blatant profiteering and totally unacceptable.

 

to pretend that our financial instituitions, and the finanacial services industry rely on unlawful charges to survive, and provide their legitimate banking services is preposterous. Indeed, it would be tantamount to a bank saying "our legitimate services of stockbroking, investments, mortgages, savings, and financial advice are so poor, and so loss-making, that we rely on unlawful charges to operate."

 

If banks really do rely on charges as a genuine income stream then even then it will not be a justified end to "free-banking", for, as the OFT point out

 

"..the bank must seek to recover from interest charges and other revenues.."

 

the costs associated with the general expense of running a financial services operation.

 

Please stick with us amigo.. always good to have the inside perspective!

[Mystery M]

I think the key thing is Shareholders. they are used to a certain amount of return on their shares hence they need to keep profits at the very least as they are. If banks lose money it has a dramatic effect on their share prices which then loses confidence in the market. blah blah

 

The banks are used to the money and wont want to lose it so they will regain it anyway they can