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Help with apply interest


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I have been busy trying to work out my interest and have followed the guidelines in the wonderful spreadsheets provided on this websites and after trawling through my previous bank statements have entered in all the data. So far so good.


But I am still slightly unclear about which ones to add up when requesting a refund from my bank.


If I apply for contractual interest, on sheet three of Vamps spreadsheets, there are final figures which have calculated the interest charged. Ok I am with that bit too.


Now for the bit I am not sure about. As understand it (correctly?), if i am going to charge contractual interest at say 16% (changing the 8% shown on the Excel sheet), in my premliminary letter, should I add up all the totals on this last spreadsheet so that I ask for

1) the total cost of the charges

2) the interest I would have accrued on this amount had these charges not been applied and the money sat in my account

3) the interest that was taken as a result of these charges being applied

4) interest on that interest that I would have received had the charges not been made and the initial interest not been applied


If I decided to go for contractual, would I just ask for 1) and 3) ?


Has anyone else gone for contractual interest, what percentage did you use?


Oh and here's another quickie.

I have found two charges in 6 years of £37.50 for recalled S/O although I can't see from my statements what this relates to. Should these be included in the request for refund or are they legitimate charges? (bit expensive tho)


Many thanks...nearly there!!!



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