How to Claim Bank Charges
So, how do you go about getting the bank charges back? Well, there’s a process you can follow that has proved successful for many consumers. You can even reclaim unfair bank charges over the past six years as long as you have the evidence to back up your claim.
Before you start, open a new current account with a different bank. Banks have been known to shut down accounts in the middle of a dispute, so a new current account is a good insurance policy. You should also collect as many bank statements as possible so you will have a record of what the bank has charged you under what circumstances. If you have shredded everything for security, you can get copies from your bank under the Data Protection Act if you pay £10.
Here’s the process you need to follow. First of all, write to your bank to let them know which charges you are disputing and why. If you can find the point of law that applies to the charges, so much the better. There are many websites that can help with this information, including providing letter templates for your claim. Include a deadline for a response in your letter.
Sometimes the banks offer a full or partial refund to avoid going to court. If this happens immediately and you are happy with the amount offered, then you have won. However, at other times they ignore the letter. If this happens, or if you want a larger refund, write to your bank again. Give them a time limit within which they must respond and let them know that you plan to take legal action. (You can also refer them to the Financial Ombudsman Service).
If you still don’t get a satisfactory response, you can take it to court. The amount you can claim and the procedure varies slightly depending on whether you are in England and Wales, Scotland or Northern Ireland. In each case you get an online form from the relevant authority and pay a fee of up to £120 to make your claim. You can also use a no win no fee firm to handle your claim, but expect to give away one quarter of your winnings.
This process has worked for millions of Brits who have reclaimed hundreds of thousands in unfair bank charges.
