FAQ's

I signed a document agreeing to their bank charges when I opened my account. Do I still have a case?

If a contract breaches any statutory law, it cannot be classed as valid and upheld. Unfair penalty charges are classed as illegal according to The Unfair Terms in Consumer Contracts Regulations (1999). So if you signed a document when opening your account that said you will be charged a certain amount for a bounced cheque, they cannot enforce this unless they can prove it was an administration cost, therefore you have a case against them

How successful will you be getting my bank charges back?

We cannot guarantee we will win, but besides administration cost it does not cost you anything to try .

The Data Protection Act 1998, clearly states every individual has a right to a copy of ANY personal data held about them. Your bank statement would be a document holding personal data about you; therefore you have a legal right to a copy. The charge you may get for requesting it will not be for the individual statement but may be a one off administration fee (which can only be a maximum of $10)

The bank can only charge you a true reflection of their administration costs incurred. For example if a cheque is bounced, the bank has to return the cheque to you, update you account and let the recipient know also. This is a little bit of work generated by your action. A recent segment on The Money Programme calculated the highest cost that is incurred by a bank for fixing a problem is $4.50. If this is true then any charge they present to you over this figure is classed as illegal.

Asking them is the first stage. The legal challenges that have incurred with the banks are a result of you not believing them or if they refuse to tell you. The majority of work in this day and age is done electronically. This does not take up much man power, or incurs much cost. When a cheque bounces, someone has to decide which button to press at a computer. Then a letter is generated electronically and posted out to you. Therefore the cost can be calculated as a few minutes of someone's time and the postage of a letter to you.

If you feel that this is not the same cost as the $30 they have charged you, legal action against the banks can be taken. In a court of law the banks would be forced to explain to a judge exactly how their charges were calculated.

Yes, you can make claim yourself but it can be quite a lengthy time–consuming process, and if not handled correctly can be a waste of your time.

Any charge applied to your account, (whatever name it has been given) that is more than the cost it incurred them to right the wrong is unfair, and can be claimed back.

The charges for setting up a direct debit or any other normal account service, if it is an admin cost cannot be claimed back. If you do get charged and are not exactly sure what it was for, contact your bank and ask them to explain it.

If your bank insists the charge is not a penalty charge, but you are unsure, it is better to include them in your request, and let the authorities decide.

When I asked the bank for my charges to be refunded, they refused. What can I do now? Keep asking for them. This is normal in the process to reclaiming back the charges. They will never just want to give you money back, so at every stage they will try and make you give up. Ask them for all your files, under the Data Protection law, they must provide you with this. Work out exactly how much they owe you, and write a letter asking for that amount.

We only operate on a onetime administration fee So you can get your reclaim paperwork in your hand and you can get into this process.

To calculate the exact amount of charges we can recover for you and the added interest you may have incurred, we need to know the date and amount of each and every single charge. This information is then used in our correspondence to the bank and if it goes to court.

All information is securely kept and in full compliance with the Data Protection Act. Please refer to our Privacy Policy for full details.

It is in our and your best interest that we complete your claim as soon as possible. Claims depend on the amount claimed and the bank being dealt with. Claims will generally take longer if court action is required. But we will endeavour to keep you informed at all stages.

Banks will not want to lose your custom, and therefore they will not want to close your account if you make a claim. However it is still well within the rights of the bank to close your account as you will be essentially disagreeing with the terms and conditions of the account.