bank charges

[spat]

i have just been sent this link
http://www.fool.co.uk/news/foolseyeview/2006/f ev060504c.htm
what i want to know is-is this for real?
has anyone done it?
my bank regularly charge me �30 for going overdrawn by a pound or two
thanks in advance

[EverClean]

This is very much for real and lots of people do it(successfully). Give it a go. Or alternatively you could just not go overdrawn.

[PinkFizz]

God,is this genuine???

[PinkFizz]

OMG - and the banks actually have to give you the money back??

[spat]

i try not to go overdrawn-unfortunately i am useless with money
will contact my bank soon

[spat]

wow
i just rang my bank about this
they have refunded four charges as a "goodwill" gesture
a total of �120 back into my account
i advise everyone to get on to your bank now if this applies

[PinkFizz]

Good god - although I don't ever go overdrawn I know my b/f has - I will definitely be showing him the link!

[Mr Tall]

I am about to do this....N.B they may close your bank and ask you to clear your o/d once they have sent the cheque so open another account 1st.

[Postdog]

Motley fool is a bona fide - and very good - financial website. I subscrime to their newsletters, and as a result was able to get the cheapest loan in the country (at the time).

Regarding you going overdrawn though, do you have an agreed overdraft which you are going over, or do you not have a pre agreed limit. It's always worth having one as a buffer zone when incomings and outgoings cross. Either way, try your bank to see if you can get or extend the limit if, as you say, it is only a matter of pounds. If still no joy, try changing bank.

[spat]

i do have an agreed overdraft and more than one account
I am and always have been too carefree with money though
i had a quick look at some old statements and in the last year and a half I have had 8 charges of �30 aplied for various things( all my fault - I accept)
I will be persuing a claim as the website suggests though and will in future pay careful attention to my charges

cheers for all the advice guys

[jennyp]

I hope everyone who now realises they can claim 6years of bank/credit card/cataloge charges pass the message on to as many people as they can, and go get the lot back!!!!!!!!!!!!
If you are skeptical, look on www.consumeractiongroup.co.uk and take a look at the results of the bank survey at the top of the page. over 3 1/2 million has been repaid already!!!!!!!!!!! Good luck everyone, but really luck is not needed, just knowing your rights and sticking out for them, not being intimidated by big businesses.

[laweez]

I work in one of the largest banks in the world, and before you all rush out and start demanding money back, if you have went over the agreed overdraft limits, and your bank has sent you out advice of this, there is a slim to nil chance you will get your money back. When you open an account you are signing for terms and condition's like most things nowadays. The banks are only prepared to refund charges that are unfair and caused by the bank. In the case of my bank, we have a department totally committed to looking through 6 years worth of accounts, and not many people are happy with their outcome.
The chances are that bank charges are going to be lowered but make way for the loss of free banking.
There are alot of goodwill gestures going out to customers, but a bank is not a charity... the price of bread goes up every year like service charges... do you claim a back log of prices from Tesco... no!!!

[jennyp]

That is exactly what the banks want you to think.
For years they have got away with charging excessive amounts for letters etc. Legally, they are not allowed to make money out of these letters- but for years they have been making millions.
Please don't be put off Spat, those charges are illegal. If banks were going to defend their charges, they would have done so now as they have certainly had thousands of opportunities. They tend to say that you have no chance of getting anything back - and it is not until the last minute when they have said they are going to defend a case - they back off, and pay up - by which time, they have to pay more in the form of court costs, and added interest. I am in a position that I have not been clobbered with these exhorbitant charges, but my daughter was at the begining of the year. This is when I started looking and boy was it an eye opener.
Forget the 'good will' gesture by the banks -they have even tried to get people to sign confidentiality agreement. This is when I started looking and boy was it an eye opener.

[jennyp]

Sorry I forgot to add, the banks are legally obliged to send, via a data protection letter, all your bank statements for the past 6 years and the only amount they can charge is �10 - but you must correctly word your letters - not difficult, as there are templates on the sites I mentioned before.