NationStates Jolt Archive

For those that are old enough to have a bank account, have you ever been charged by your bank?

I only learned a few weeks ago from a radio show that this is unlawful and you can claim back the charges from the last six years.

Some months I have been charged nearly £300 so I guess I have quite a lot coming back.

It's probably better not to get in a position where you get charges on your account, but life has some glitches thrown in to test you. The steps are...

Step 1. Set up another bank account.
Step 2. Find out and total all your charges, you can ask the bank to send you them. You can also add interest.
Step 3. Write to them asking for your money back.
Step 4: Threaten to take it to court.
Step 5: Take it to court but they usually settle before this stage.

good luck to the bank manager trying to steal money off me :D

What do you mean 'charge'?

As in take user-fees? Unfortunately, you agree to that when you sign the contract that allows them to open up an account for you.

Do you mean take money for no particular reason outside of contractual rights? Well duh, of course that's illegal.

I mean, you go overdrawn by a few pence or pounds, they send you a letter telling you you're overdrawn. For that letter they charge you £30. This is illegal, even if they warn you.

For instance, if I tell you I'm going to punch you in the face before I actually punch you in the face doesn't make it legal.

www.moneysavingexpert.com (http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1141050760,24632,)

I mean, you go overdrawn by a few pence or pounds, they send you a letter telling you you're overdrawn. For that letter they charge you £30. This is illegal, even if they warn you.

isn't it just a few pence to cover the cost of the letter?

I mean, you go overdrawn by a few pence or pounds, they send you a letter telling you you're overdrawn. For that letter they charge you £30. This is illegal, even if they warn you.

For instance, if I tell you I'm going to punch you in the face before I actually punch you in the face doesn't make it legal.

As Neesika said, it depends on what the contract you signed says. I would be very surprised to find the bank charging you fees that they haven't spelled out in the really, really small print. That's how it is in the US, anyway. If UK law is different, you might have a case, but I'd make sure before proceeding by reading over the agreement.

I mean, you go overdrawn by a few pence or pounds, they send you a letter telling you you're overdrawn. For that letter they charge you £30. This is illegal, even if they warn you.

For instance, if I tell you I'm going to punch you in the face before I actually punch you in the face doesn't make it legal.

Don't be so sure on that last bit...there are indeed some cases where consent was valid in the punching-in-the-face-scenario.

And perhaps it is illegal where you are (the charging by the bank), but that doesn't mean it's illegal everywhere...so try not giving legal advice in such a broad manner, hmmmm? Many people don't read the fine print of their contracts with banks, which often include penalty fees for being overdrawn, or bouncing a cheque etc.

On that note, Canadians...did you know that some provinces have enacted statutes whereby if a credit card comapany, unsolicited, sends you a functional credit card (usually as a promotion, that pre-approved crap), you can rack up charges on it and you aren't legally required to pay them back? Has to be unsolicited though...you can't get a letter saying, 'reply and we'll send you the card'. The only province I'm sure on this is BC. Woohoo! (Though I doubt any company would be dumb enough to do it there)

I am confused......I mean not that it applies to me anyway, but are you talking about overdraft fees?

www.moneysavingexpert.com (http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1141050760,24632,)

Oh god, I see...you've been sucked into one of these stupid sites that claim you never have to pay back any debts...yeah, I had an uncle buy into this crap. He believed that he didn't have to pay taxes, or his credit card bill because of some legal loophole. Well, the courts forced him to sell his house and land...he was sorely mistaken.

Worse incident I've had was last year when I got my visa card. I deposited ~$2500US on it, so I could use it for a few months and not worry about interest charges and repayments.
Then I went to buy myself a computer. The shop I bought it from doesn't take visa (go figure), and I have little money in my cheque acount due to having just put it all in my visa account. No prob, I says, I'll go draw the money out of my account and pay cash.
I draw out $1000US (remember, I'm in credit here, so it's my money) and buy my pc.
Month later I get my visa bill and see it's $1050US drawn, not $1k.
I go to the bank to query it and get told that the bank charges a 5% penalty on all cash withdrawals on visa cards.

To sum up:

I was charged 50 bloody dollars for taking my bloody money out of my bloody account!

bastards.

For instance, if I tell you I'm going to punch you in the face before I actually punch you in the face doesn't make it legal.

If I agree to be punched in the face, then it's legal.

Ever heard of boxing?

Worse incident I've had was last year when I got my visa card. I deposited ~$2500US on it, so I could use it for a few months and not worry about interest charges and repayments.
Then I went to buy myself a computer. The shop I bought it from doesn't take visa (go figure), and I have little money in my cheque acount due to having just put it all in my visa account. No prob, I says, I'll go draw the money out of my account and pay cash.
I draw out $1000US (remember, I'm in credit here, so it's my money) and buy my pc.
Month later I get my visa bill and see it's $1050US drawn, not $1k.
I go to the bank to query it and get told that the bank charges a 5% penalty on all cash withdrawals on visa cards.

To sum up:

I was charged 50 bloody dollars for taking my bloody money out of my bloody account!

bastards.

I had a paycheck written from my employers account at Bank of America, I wanted to deposit it into my husbands account at Bank of America.... they wouldn't let me, said he had to sign so that I could deposit the check, so then I ask if I can deposit cash and they said "yeah" so I try to cash the check to deposit it into his account........and they try charge me $5 because I didn't have an account there:mad:

They said that it's a new policy for "homeland security" that they have to investigate the check to make sure it's not "terror money" and that costs them $5

whatever.

a check written from a fortune 500 company, on their bank, being deposited into an account at their bank?! it's suspicious how?:rolleyes:

well, I walked out with my check, called hubby, he closed his account and transferred everything over to my bank, who let me deposit my check into his account no problem "we don't care who puts money in" they said "we just have to be careful about who takes it out"

If I agree to be punched in the face, then it's legal. Not usually, not in most common-law countries. In Canada, for example, you can not be said to consent to bodily harm, so egging a guy on in a fight by saying, "yeah, come on, hit me" doesn't mean that if he does, and he knocks your teeth out, that he is not criminally (and civilly) liable.

There have been exceptionst to that of course, but they are exceptions, not the norm.

Ever heard of boxing?Totally different situation. Most physical contact engaged in during sports is deemed consensual unless it really goes above and beyond what is expected in that sport (oh, like body checking someone so hard into the boards that their spine shatters).

I don't think anyone would argue that banks and credit card companies aren't total douchebags who rip you off at every turn.

My favourite right now is ScotiaBank, who charges you $1.50 to withdraw money from any bank machine that isn't theirs, and that bank machine ALSO charges you $1.50 to use it.

$3.00 to access your money.

Yet living on cash seems to be impossible sometimes.

I don't think anyone would argue that banks and credit card companies are total douchebags who rip you off at every turn.

My favourite right now is ScotiaBank, who charges you $1.50 to withdraw money from any bank machine that isn't theirs, and that bank machine ALSO charges you $1.50 to use it.

$3.00 to access your money.

Yet living on cash seems to be impossible sometimes.

they have that here, but my bank owns like 850 ATMs in my metro area so it's not a problem for me..

I don't understand the people around here who don't bank with my bank......why wouldn't you? there are like 5 branches within 10 miles of my house and like 12 ATMs in that radius......

If anything, my bank pays me. I get .5% interest on my checking account every month. It's amaaaAAAAAaaaazing.

Oh god, I see...you've been sucked into one of these stupid sites that claim you never have to pay back any debts...yeah, I had an uncle buy into this crap. He believed that he didn't have to pay taxes, or his credit card bill because of some legal loophole. Well, the courts forced him to sell his house and land...he was sorely mistaken.
Nonono, that site's not like that (try reading it ;) ) ; Martin Lewis is Jeremy Vine's (BBC Radio 2's afternoon news/current affairs programme) money/personal finance guy.
Basically, he gives you advice on how to 1) not fuck up your finances completely (it's mostly common-sense stuff, but common sense ain't so common, is it?) and 2) make use of useful ways of preventing companies screwing you over and returning the favour when possible - as in this case.

Edit:
I don't think anyone would argue that banks and credit card companies aren't total douchebags who rip you off at every turn.

I thought that was a typo when I read it before you edited in the n't :D

If anything, my bank pays me. I get .5% interest on my checking account every month. It's amaaaAAAAAaaaazing.

Yeah, I get that too! Totally awesome!

Then I pay like $11 in user fees, subtract the 23 cents I made from interest...hmmm...wait...:D


Anyway, did they arrest the OP already or something?

Nonono, that site's not like that (try reading it ;) ) ; Martin Lewis is Jeremy Vine's (BBC Radio 2's afternoon news/current affairs programme) money/personal finance guy.
Basically, he gives you advice on how to 1) not fuck up your finances completely (it's mostly common-sense stuff, but common sense ain't so common, is it?) and 2) make use of useful ways of preventing companies screwing you over and returning the favour when possible - as in this case.
I'll take your word for it.

But if anyone tells you that you don't have to pay your taxes...run.

Yeah, I get that too! Totally awesome!

Then I pay like $11 in user fees, subtract the 23 cents I made from interest...hmmm...wait...:D


Anyway, did they arrest the OP already or something?

No user fees for me! It's amaaaaAAAAAAaaaaazing!

No user fees for me! It's amaaaaAAAAAAaaaaazing!

Oh shut up.

What bank?

Oh shut up.

What bank?

It's got the most nonsensical name in the world, but the bank is awesome.

Fifth/Third, based out of Lexington, Kentucky.

Banks charging fees? Totally legal for the bank or CC company to charge you. At least here in the US..

You agree to the following service fees (At least for my bank) when you sign up for an account:

1) Non-Bank owned/operated ATM.
2) Overdraft. If I overdraft my account and my bank has to cover the amount I owe, I pay $25 per overdraft per month until I am positive again.
3) Other misc. fees that I never have to deal with since I don't use checks.

Also, my credit card gets service fees for the following (and more, but I'm not too sure if any of the others concern me):

1) If I withdraw cash out of my CC limit, then I get charged 5% as well. This is because you're withdrawing cash out of a credit account, so you don't own the money.

I'll take your word for it.

But if anyone tells you that you don't have to pay your taxes...run.

Actually, you might be able to arrange a reward for handing them in... </mercenary>

British banks are (I'm led to believe) some of the least-cuntish in the world. Which is pretty tragic, really, considering what the bigger ones are like (but at least they mostly don't charge you for looking after your money - what's up with that, anyway?). But some of them are quite good. Considering.

They said that it's a new policy for "homeland security" that they have to investigate the check to make sure it's not "terror money" and that costs them $5

whatever.

a check written from a fortune 500 company, on their bank, being deposited into an account at their bank?! it's suspicious how?:rolleyes:
Security issues, arghhhhhh!!!

A few weeks ago I received a letter from my NZ bank telling me they'd overcharged me for a international funds transfer and owed me $10NZ (~$7US).
Incidently, this wasn't being generous on their part - they'd be taken to court over it and were being forced to do it.

Anyway, the letter said they were unable to put in my account because the number had changed. The fact that they'd changed it just a couple of weeks beforehand (for some reason) apparently mattered not.
So I tried to call them up and tell them the correct account #. 5 attempts and complete failure. Best I got was someone telling me he couldn't do anything as it was outside NZ banking hours. What that's got to do with updating my account records I've no idea, and it begs the question why have a 24 hour help line if all they can say for 16 of those hours is, "call back during the day."

So I lose that $10 (I had until Nov 30th to sort it out).

Their brilliant phone service doesn't end there.

Last week, I get a letter for the NZ IRS saying my Student Loan payment's overdue. You do not want to piss off the IRS, as I'm sure you're all aware - those bastards are worse than loan-sharks.
So I get online and try to arrange a transfer to my NZ account.
Whoops. Only account I can transfer to is the old numbered one. mmm...obviously I can't do that. I mean THEY can't find my account, so how is another bank in a different country going to?
But wait! What's this? The money's gone out!
Better check my NZ account.
Bugger...can't remember my log-in details, been months since I bothered to.

So I call them up again. Explain to them my problem. Give them all my details. Still not enough. I'm told I need to prove I'm who I say I am. I tell them that I transfered some money over just yesterday (at least I hope I did).
Put on hold for 15 minutes (costing me a fortune here) and he comes back and tells me that the only way they can verify who I am is my me telling them the exact day and amount I last used my NZ visa card.
This I do.
And then I get told that he doesn't have access rights to my account so can't verify what I just told him.

Yep, that's right: classic catch-22. To get my log-in details, I have to give them specifically-asked for information that they then can't verify which means they can't give me my log-in details.

Before I forget - He was able to tell me that the money was transferred successfully. So a different bank in a different country can send money into a defunct account # and it automatically gets transferred into the new account #, but the bank who holds said accounts is incapable of doing exactly that.


Thus I now have several hundred dollars in a NZ account I can't access whilst an irate IRS foams at the mouth and is no doubt charging all sorts of horrendous non-payment penalty charges.


I sometimes wish we could still get paid cash like in the old days and I could just keep my money in a biscuit tin under my bed. I'd save so much on bloody bank charges at least.

I got so fed up with the crap from banks that I now do most of my banking through a credit union. No fees, interesting paying accounts, good service.

Fifth/Third, based out of Lexington, Kentucky.That's the bank I keep getting emails from telling me I need to log-in and update my details.

Shame I don't have an account there.

That's the bank I keep getting emails from telling me I need to log-in and update my details.

Shame I don't have an account there.

Yeah, looks like some loser is trying to get you to fall for a credit fraud thing.

Yeah, looks like some loser is trying to get you to fall for a credit fraud thing.
gee, ya think so?

I get them 2 or 3 times a week. I just wonder why 3rd/5th haven't done anything like track the guys down

gee, ya think so?

I get them 2 or 3 times a week. I just wonder why 3rd/5th haven't done anything like track the guys down

They might not know, I'd imagine they'd appreciate it if you were to forward one of the emails to them.

Over the last few months I've been charged around £120. All spiralling from one direct debit that I forgot to put enough money in for. The £30 charge on a refused direct debit, which I wasn't told about for around a month, meant that when I put money in to cover the next direct debit that was due to come out of my account, it didn't, because the charge had to be paid off. So I got another charge. If they'd told me promptly it wouldn't have happened, but can't really do much about it now.

Just got informed of another £30 charge through the post today, two weeks after it was applied, so I may expect another one when my credit card company is told there wasn't enough money in the account to pay the credit card direct debit (which went out yesterday, I think) because of the charge I got told about today. Of course, I'll also get charged by the credit card company for not paying the direct debit.

Fuckers. I'm convinced that they don't tell you they've charged you until late enough to screw over your next direct debit, in order to be able to charge you again.

Over the last few months I've been charged around £120. All spiralling from one direct debit that I forgot to put enough money in for. The £30 charge on a refused direct debit, which I wasn't told about for around a month, meant that when I put money in to cover the next direct debit that was due to come out of my account, it didn't, because the charge had to be paid off. So I got another charge. If they'd told me promptly it wouldn't have happened, but can't really do much about it now.

Just got informed of another £30 charge through the post today, two weeks after it was applied, so I may expect another one when my credit card company is told there wasn't enough money in the account to pay the credit card direct debit (which went out yesterday, I think) because of the charge I got told about today. Of course, I'll also get charged by the credit card company for not paying the direct debit.

Fuckers. I'm convinced that they don't tell you they've charged you until late enough to screw over your next direct debit, in order to be able to charge you again.

:rolleyes:

I have a client who came to me because she had owed a hospital bill in the amount of $5K some odd dollars, it went to collections and she did a "post dated check over the phone" with them for $50 to start a payment plan, they went ahead and took all of the money in her account which caused all of her outstanding items to bounce, totaling (with fees) over $6K

sometimes I hate people.

:rolleyes:

I have a client who came to me because she had owed a hospital bill in the amount of $5K some odd dollars, it went to collections and she did a "post dated check over the phone" with them for $50 to start a payment plan, they went ahead and took all of the money in her account which caused all of her outstanding items to bounce, totaling (with fees) over $6K

sometimes I hate people.

Okay, that one sounds actionable, though the fact that she did it over the phone weakens her case. At the very least she should look into having the hospital give back the extra money they took.

Okay, that one sounds actionable, though the fact that she did it over the phone weakens her case. At the very least she should look into having the hospital give back the extra money they took.

there isn't anything I can do about it, she owed that money to the collection agency, she gave them access to the account, they didn't do anything illegal.

she made a stupid mistake, and now she is still paying for it.

there isn't anything I can do about it, she owed that money to the collection agency, she gave them access to the account, they didn't do anything illegal.

she made a stupid mistake, and now she is still paying for it.

Ah. Pity.

Ah. Pity.

that's why I tell my clients to talk to me first.....never ever make payment arrangements over the phone, the collection agency doesn't care about you, they want their money and they will get it any way they can.

:rolleyes:

Were you rolling your eyes at me or the bank? :confused:

I have a client who came to me because she had owed a hospital bill in the amount of $5K some odd dollars, it went to collections and she did a "post dated check over the phone" with them for $50 to start a payment plan, they went ahead and took all of the money in her account which caused all of her outstanding items to bounce, totaling (with fees) over $6K

sometimes I hate people.

I remember a couple of years ago signing up for a new mobile (cellphone to some of us) contract. £20 a month for 12 months. Contract said they would take one payment per month. Fair enough, I thought. Put £25 into the account to cover it and thought it would be OK.

Turns out, despite not telling you anywhere, that they take the first three months at the start. So that was another charge...not quite $6k, but being then about £90 in debt to the bank when I'm 18 and had budgeted to just be able to afford the contract was a problem. Thankfully my parents rescued me on that one.

Were you rolling your eyes at me or the bank? :confused:
the bank of course.



I remember a couple of years ago signing up for a new mobile (cellphone to some of us) contract. £20 a month for 12 months. Contract said they would take one payment per month. Fair enough, I thought. Put £25 into the account to cover it and thought it would be OK.

Turns out, despite not telling you anywhere, that they take the first three months at the start. So that was another charge...not quite $6k, but being then about £90 in debt to the bank when I'm 18 and had budgeted to just be able to afford the contract was a problem. Thankfully my parents rescued me on that one.

yep.

http://www.daveramsey.com/etc/stupid_tax/index.cfm?FuseAction=dspContent&intContentID=3622

the bank of course.

That's what I thought :)

yep.

http://www.daveramsey.com/etc/stupid_tax/index.cfm?FuseAction=dspContent&intContentID=3622

That's absolutely ridiculous.

I don't think anyone would argue that banks and credit card companies aren't total douchebags who rip you off at every turn.
I'd argue against the word 'total'.

Why is it that most of the people posting to this thread think that banks owe THEM a service? Seems to me your bank protects your money from petty thieves and burglars pretty well. They provide bits of paper and plastic that allow you to access your money in a vast array of convenient locations. They maintain a number of brick-and-mortar storefronts that you can walk up to and get your questions answered. They maintain a number of fancy machines where you can insert a bit of plastic and recieve in return some folding cash money.

They staff 24-hour telephone banks for your questions and problems. They maintain web sites where you can monitor your money. They have enormous operations departments that work with competitor banks to make sure your money gets accurately transferred to the people you want to have it, and they send you a summary of your activity every month.

They should do this stuff for free? Out of the goodness of their hearts? Or is it enough that they earn vast amounts of interest out of re-loaning your $71.38 in passbook savings out to commercial developers and venture capitalists?

Bitch about bad service, sure. Bitch about paying for services that you use and expect to be 100% accurate, and you've lost my interest. Whiners.

It's quite clear that some people do not read!!!!! Especially our American cousins.

Yes, banks can charge you for sending an automated letter when you go overdrawn but they cannot rip you off for it. It does not cost that much to send these letters.

Gladly I live in a country that has a decent level of civil rights and the courts have ruled the banks actions unlawful, therefore you can claim your money back.

My bank here has a very irritating andsneaky little habit, of which I'm sure is delibrate.

Like all banks, if you have a credit card you need to pay so much a month, which is done automatically.
In NZ (and I'm sure elsewhere), if you pay some into your visa the bank takes this into consideration and works out the difference (if there is one).

Here they don't.

So if the automatic payment is $100 and the day before you transfer $100 over, HSBC will still go through with the automatic payment.
Even if you have paid off your visa card debt completely (as I did one month).
They still took money out of my cheque account and deposited it into my visa account, leaving me basically nothing in my cheque and credit on my visa. I was lucky that I had enough in my cheque - otherwise I would have been charged for insufficient funds.
To wit: not enough money to pay off a non-existant debt!
Since I didn't have enough left in my chequing to live off for the month, I was forced to draw money out of my visa, thereby incurring their 5% penalty fee.

As I said, sneaky and no doubt delibrate.

For those that are old enough to have a bank account, have you ever been charged by your bank?

I only learned a few weeks ago from a radio show that this is unlawful and you can claim back the charges from the last six years.

Some months I have been charged nearly £300 so I guess I have quite a lot coming back.

It's probably better not to get in a position where you get charges on your account, but life has some glitches thrown in to test you. The steps are...

Step 1. Set up another bank account.
Step 2. Find out and total all your charges, you can ask the bank to send you them. You can also add interest.
Step 3. Write to them asking for your money back.
Step 4: Threaten to take it to court.
Step 5: Take it to court but they usually settle before this stage.

£300 = a lot of unauthorised overdraft type stuff. My bank DO charge for that sort of thing, but if you keep money in the bank you are fine. Mine manage all my direct debits etc and pay a token bit of interest. Last year I paid £0 charges, had hassle free banking and earned a bit back - no complaints

it happens all the time here with the big banks

It's quite clear that some people do not read!!!!! Especially our American cousins.

Yes, banks can charge you for sending an automated letter when you go overdrawn but they cannot rip you off for it. It does not cost that much to send these letters.

Gladly I live in a country that has a decent level of civil rights and the courts have ruled the banks actions unlawful, therefore you can claim your money back.

Umm..

MY bank here in the states doesn't charge me to send me a letter (I get an e-mail and physical letter about it). They charge me for the overdraft itself.

http://news.bbc.co.uk/1/hi/business/6169539.stm

The Campaigner

Stephen Hone is a young father of three and a law student based in Plymouth. When Stephen's bank, Abbey, removed £64 from his account for two £32 penalty charges he called his branch and asked them to pay it back.

"I was livid, I was really annoyed that they refused to give me the money back, the banks are always trying to say they're sympathetic," says Mr Hone. His bank pointed out that these charges were fair and within the terms and conditions of his contract. Mr Hone, however, believed those terms and conditions were unfair and therefore illegal.

Abbey offered to refund one of his charges.

The Legal Position

Stephen argued that under the Unfair Terms in Consumer Contracts Regulations (1999) all penalty charges have to truly reflect the cost of administering them.

They are not permitted to be a profit-making enterprise for any business. He believes if a penalty charge is higher than its administrative cost, it is illegal.

It's very, very difficult to assign costs to specific aspects of the customer relationship

Joe Garner, HSBC

Stephen called Abbey again and threatened it with court action if it didn't refund both of his charges. Furthermore he told the bank he would reclaim all the charges he had incurred over the previous six years if it did not reconsider.

The bank declined the offer and said it would defend its policy in court.

So Stephen went through his bank statements from the past six years (the legal maximum period of time that money can be reclaimed in the UK) and filed a claim at the small claims court.

Shortly after filing his claim, Abbey paid Stephen back £840. Stephen used some of this money to set up a website that advises others how to reclaim their bank charges.

i've been charged over £100 in total for going over my overdraft limit. i'd love to get that back. was that illegal too?