Unbiased Guidelines to The First Steps To Claiming Unfair Bank Fees
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The Main Steps To Reclaiming Unfair Bank Fees. Background To Reclaiming Bank Charges
Then, tell them that you are asking for a refund of all fees applied to your account in the past 6 years. Remind them that Under the Unfair Terms in Consumer Contracts Regulations 1999 fees must reflect administration costs and cannot be punitive. Then list the fees you have be charged with and the amounts involved in each, stating that you do not believe the amounts to reflect the true cost to the bank.
Next, state the total amount that you have been charged and request that they refund it to you.
Finally, ask them to return the money in full within 14 days, or you will place a claim against them for the full amount, plus interest and costs. If you are at all uncertain, plenty of websites show sample letters and include calculators to determine what you can recalaim.
You have given the bank 2 weeks to reply, so if it doesn’t pass them a reminder and phone them. They might try to put you off by offering a reply at a future date. In this case, write & phone telling them that you are giving them an additional 14 days before starting court proceedings.
Another trick the banks have used is to reply to customers that they are mistaken and cannot reclaim or that the charges are not unlawful. In this case, you are probably still at the position of a second letter and then start court action.
If they reply offering the full claim then you have won. If they offer a partial payment then you have to decide whether it’s enough or whether you want to continue. If the amount of fees involved are tiny or the proportion they are offering to repay is high, then the effort of continuing a claim might make acceptance worth while. But if they are giving a very low offer, there might be good rewards in asking for for the full amount. Only you can decide.
If you haven’t got the result you want through letters, then it’s time to start bluffing your bank with court action. If your claim is for less than
