some advice please - Bank charges

[rob munro]

Hello all

 

Like a lot of people on here I wrote to my bank (1st direct) asking for a full refund of from overdraft charges. Most of my crazy period happened while at art school some years back, when I went way over my limit.

I calculated they owed me £1152.50 I got a reply yesterday; they worked it out at £1184 which is fair enough.

 

Now they went on to say the following –

 

In circumstances where you have authorised a payment that would, if met by us, lead to your account going overdrawn or to exceed an agreed overdraft limit, we have to consider whether to make this payment. A fee payable for this service provided by the bank, details of which are clearly set out in our account terms and conditions, a copy of which was provided to you when you opened your account. We are confident of our position and believe that if your claim for a refund proceeded to court, we would successfully resist any legal challenge in relation to these fees.

 

 

Sorry if that was long-winded, the next paragraph was about being mindful of management time and legal costs and are offering me £917 back that's £162 short of the full amount. The thing is this, would they actually win in court, I mean if their charges are illegal then surely they wouldn’t stand a chance. And if they’re prepared to give me back £917 why can’t they give me back the whole amount owed?

Are they just covering they’re rear-ends and sabre rattling at me and what would happen if I wrote back asking for the full amount, could they turn round and say deals off and I end up with nothing?

 

Who else here has received this kind of letter and what should my next step be?

 

Also I have to reply within 10 working days, now does it mean if I reply asking for the full amount and it goes over those 10 days they can turn round and say “sorry your times run out”

 

 

Thank you for your time

 

rob

[Calculator]

Don't worry. They do not have a leg to stand on. They are just bluffing and hoping you will give in. You did right to ask for the full amount. None of the banks are winning in Court. very few get to Court, the banks settle beforehand.

If it went to Court, you would also be entitled to 8% statutory interest on each charge under the County Courts Act Section 69. Some people would also say that you could add contractual interest to your claim (there are various threads on this forum about that, but if you want to claim contractual interest you should make it part of your claim in your letters to the bank now before it gets as far as submitting the Court claim form.

Incidentally I believe the correct term for the charges is 'unlawful', not 'illegal'.

[rob munro]

Thank you Calculator, I'm worried about only having 10 working days to apply for my £917, if i want the full amount can't they just wait till the 10 day offer period is up and say something like "your time is up all deals are off"

It's taken them just over a week to reply to my orignal claim.

[lickthewallfatboy]

you need to remember one thing-YOU are the one who calls the shots,not the bank.If you had a loan with the bank for £1200,do you think they would accept £900 as a full repayment?

 

No-me neither!!Their offer and "time limit" need to filed where they belong-the bin.

 

Go get em......

[Calculator]

Rob,

 

The bank is doing everything it can to get you to give in. Don't worry about their stated time limit. They have everything to lose because if they can't get you to settle now then you can start court proceedings and claim interest on top so it will cost them more in the long run.

The banks have been playing a game with everybody since the whole question of bank chrges started. They have teams of staff trying to discourage customers from reclaiming. The banks use whatever means are necessary - usually unfair means. They are working on the basis that the majority of claimants will not have the will or the nous to start legal proceedings.

I have been assisting relatives and this week we got full settlement of our third claim after starting Court proceedings on all three. The banks involved have taken us 'round the houses' for the last 9 months with every trick in the book. We have written many times with reasoned arguments, expecting a fair and reasonable answer, but we never got it. I have come out of it a much wiser person. I would have done it differently from the start if I had known what the banks were up to. My advice now is don't stand any nonense from the bank, give them one chance and if they don't co-operate, then proceed straight to the Courts.

[rob munro]

you need to remember one thing-YOU are the one who calls the shots,not the bank.If you had a loan with the bank for £1200,do you think they would accept £900 as a full repayment?

 

No-me neither!!Their offer and "time limit" need to filed where they belong-the bin.

 

Go get em......

 

 

Thank you, I'm going o ask for the full amount £162 is a lot of money to me.

 

 

P.S. i love your username

[rob munro]

Hey Calculator

 

I hope it doesn't end up going to court, I'm asking for the full amount, as i said to lickthewallfatboy.

 

Thanks for your help.

[rob munro]

Hey Calculator

 

I've fashioned this response letter asking for the full amount, what do you any good.

Response to settlement offer

Dear 1st Direct

Thank you for your reply in regards to the unlawful bank charges, I can’t accept this offer as a Full and Final offer, as part settlement yes but not full and final. You’ve offered me £917 that’s £162 short from the full amount you owe me which is £1079 so please repay me the proper amount; you wont go bust doing so, the payment of the full amount owed is the only fair and reasonable offer there is.

I look forward to a very speedy reply, with seven days, of receiving this letter. Plus this ten working days time limit, no offence but this is on my timetable, not yours! I except that to be cancelled, thank you.

As I say I will accept the sum of £917 offered, (you can credit it straight into my account?) but only as part settlement and on the clear understanding that I will pursue recovery of the remainder, with a County Court claim if necessary, Which will include the 8% interest added, I don’t think either of us really want to go that far.

[lickthewallfatboy]

best to keep it simple and to the point-

Thank you for your reply in regards to the unlawful bank charges . You’ve offered me £917 in "full and final settlement" of the full amount claimed IE £1079..

 

I regret to inform you that I am not in a position to accept your offer,and

that I will now pursue the full amount claimed via the County court.

 

Yours etc