Can i claim back my bank charges from hsbc?
Ive heard all about this topic, claiming back bank charges, and im wondering if its possible to claim back any of my charges too. ive paid hundreds in bank charges. ive got an overdraft facility and i regulary go over my overdraft limit and the bank allows it, most of the time its only been for a few days until i get paid. i regulary have to pay bank charges every month because of this, sometimes it can £100 a month but usually around £50 per month, im wondering if i can claim these back and if so how? thanks!
Answer
At the moment you can only start to claim your bank charges back, but its still worth doing.the oft are taking the banks to the high court to decide once and for all if bank charges are unlawful, the case starts at the end of jan 08 and is expected to run for a year before a legaly binding result.as a result, all bank charge claims are on hold as the banks have been granted a stay by the fsa until the results of the case are announced.if the oft win, then it will be quicker and easier for eone to claim their bank charges back, and the banks will have to lower their charges. if the banks win, then it will be the end of bank charge claims.unfortunately, in the meantime, the banks can still charge what they like, and you cannot claim them back. you`ll get the money back if the oft win, but its effectively giving the banks an interest free loan. this is unfair, but unfortunately thats the way it is at the moment!if you want to claim, you still can start your claim by sending a letter to the banks head office, asking for you charges back, by recorded deli, thats all you have to do. the bank will log your claim and have to acknowledge it within 5 days. your claim will then be put on hold.if you claim now, you can go back 6 years from the current date, than the date the result is announced, meaning you can potentialy claim back more charges.if the oft win, then you claim will be dealt with quicker as its already in the system. if the banks win, nothing further will happen.for more information about the current situation, and updates are they are available, as well as guides to claiming, see my website below.the site is free to use!
