?Occurring charges on your bank account has been something that many residents in
the United Kingdom have had to deal with for as long as many would care to
remember. Charges tended to be applied to accounts if people exceeded their overdraft
limit, or failing to have sufficient funds to honour cheques or direct debits. Many
thought that these fees were unfair or to expensive, which ultimately led to an
investigation by the Financial Regulators. The result of the investigation means that
those who have been charged by their banks for such events are being encouraged to
claim back their charges.
To claim back any charges that have been placed on your account in the last six years,
you will need to know the total amount. There are two ways of going about this if you
haven't retained all of your bank statements, the first is to order all of your statements
from your bank, which may be expensive. The cheaper alternative is to pay a small
fee (usually in the region of ￡10) and request a list of charges placed on your bank
account. If you make this request, your bank will be required by law to respond to you
within forty days.
When you have the total amount of money which has been taken from your account in
charges in the last six years, the next step is to contact the bank to request the money.
The only way of approaching this is to do so in writing. The letter should state that
due to the recent ruling from the Office Of Fair Trading, you are requesting the sum
of money which you feel you are owed. In some cases your bank account may already
be closed, if this applies to you, don't be put off from claiming. If your bank account
no longer exists, the bank will be able to issue you with a personal cheque.
Once you have sent a letter to your bank, you should wait for around two weeks to
allow adequate time for a response to be processed and in turn received by you. If you
haven't within this time, you should make a telephone call advising that you are going
to proceed with your claim and if needed will go via a court to receive the money that
you feel you are owed. In many cases, banks will look to avoid the inconvenience of
being taken to court. However should you need to do this, the easiest way is to submit
the case online via the county courts money claim service.
This article is written by Jonathan Walker on behalf of Claims Management UK,
Reclaim Bank Charges