Reclaiming all charges or deduct £12 each

[neilk]

hi, just put my brain in gear, and found that the online banking system on HSBC allows me to go back 6 years (doh).

 

anyway, do i reclaim all the charges or only the proportion over £12.

 

before, anyone says read around, i have, but there is so much information that it is impossible to read it all. although i have read alot and the faqs and cannot find anything bout this in there.

 

sorry if this has already been asked.

 

another question before i start the process, 6 years ago i removed myself from hsbc as my main bank, and incurred more charges dating back 6 1/2 years ago. is it worth waiting the extra period to see if the bank will supply me information stretching back further than 6 years.

 

thanks for your help and loving the determination and fighting spirit of the group.

[Bookworm]

All the charges, not just the proportion over £12.

 

The going back more than 6 yrs hasn't been tested yet, so stick with 6 yrs for now, this way you can get started straight away.

[maverik1979]

where has the £12 come from?

[gordonhall]

I'm assuming they are thinking of the OFT ruling from April this year, that stated charges over £12 would be contested.

[Don Quioxte]

where has the £12 come from?

 

£12 is the threshold that the OFT say above which they will be likely to contest charges as being unfair under the UTCCRs. They do emphasise however that an institution cannot assume that just because it sets it's charges below this threshold that they are any fairer! Basically people ignore the £12 it is just a random figure and means very very little. The regime of fees and charges will have to be massively overhauled as it is still not a reasonable pre-estimate of the limited additional administrative costs of a bank to suggest that it costs £12 to service the fact that you may have breached your contract by exceeding your limit or making a late payment.

 

I'm waffling - but basically the costs are too remote for them to reasonably argue that £12 or a figure even close to that reasonably represents the additional cost incurred by the bank. The costs are just too remote (not attributable to you as an indivdual), and really represent the general overheads of operating a financial services business. There are so many explanations as to why even charges below the £12 threshold will still be deemed unlawful and unfair that it is not even worth getting your knickers in a twist about.

 

Just ignore and proceed on the basis that any charge applied to your account is effectively unfair and unlawful and thus can be recovered.

[neilk]

thanks for your help people,

 

time to send the prelimnary letter.