The Ultimate Guide To Reclaiming Bank And Card Charges

Banking and Borrowing

Updated on 16 December 2008 | 0 Comments

We've written a lot on how to reclaim charges you've paid for things like late payments and exceeding overdraft limits. From here you can access all our articles.

This guide has now been updated. You can read the new version by clicking here.

Bank and card companies charge us £12 to £40 for exceeding overdraft limits, making late payments, defaulting on debts, returning a bounced cheque, or for failed direct debits and standing orders. However, it is unlawful for them to penalise us financially for any of these breaches of contract, or any other breach in fact! And we've just let them get on with it. How British!

But not all of us have just sat there and taken it. Thousands of people have recovered their charges, with an average recovery of £956. With the help of the following guide, you could do this too!

The Guide

Reclaim Your Bank And Card Charges, 4 May 2006
Not only does this article give you the legal background, it has a four-stage plan to reclaiming charges, including a template initial letter to the company. (It was five stages, but now I've streamlined it.)

Reclaim Even More Bank And Card Charges, 22 May 2006
Many people couldn't believe what they were reading in the original article, so I wrote this follow-up to say: Yes! It's true! I included more details on precisely what you can claim for, clarification on the Office of Fair Trading's position on these charges, and how to get charges information from your bank or card company using the Data Protection Act.

Reclaim Interest On Bank And Card Charges, 24 May 2006
Many people don't bother claiming the interest they've paid on top of the charges, but for some people it has added up! This article shows you a couple of ways to calculate it.

Reclaim Charges: Stick To Your Guns! 2 June 2006
This is on the misleading ruling by the Office of Fair Trading that late payment fees should be reduced to £12. I include statistical evidence to show that people who stick to their guns recover all their charges in full.

Tactics For Reclaiming Bank Charges, 12 June 2006
Companies have been trying all sorts of nasty tricks to stop claims for unfair charges from being successful. This article reveals some of the worst tricks and how to counter them.

My Claim For Unlawful Bank Charges, 29 June 2006
An update on my claim so far, including how I tinkered with stage four of my claim (as shown in Reclaim Your Bank And Card Charges). This includes a second template letter.

Welcome The High Court, 17 July 2006
Rumours of the heavyweight High Court getting involved in the messy, unfair charges business have been met with mixed feelings, but here I tell you why you should keep pursuing your claim.

My Bank Charges Claim Is Going To Court, 8 August 2006
True to form, my old bank is still denying that its unlawful charges are unlawful. Here I explain how I initiated court proceedings against them. With ease!

Successful Claims For Unlawful Charges! 24 August 2006
The campaign for unlawful charges has seen many successes. Here, many happy Fools tell of their victories in their own words. Some of the payouts are huge!

Unlawful Charges And Court Proceedings, 12 September 2006
My claim is just about over - hopefully! Here you can read about the next steps in the court process: applying for a default judgment and the Allocation Questionnaire.

My Ongoing Bank Charges Saga, 28 September 2006
My bank fights back, but not particularly well. I'm still confident that I'll get my money although it may take a little longer than I thought.

My Unlawful Bank Charges Victory! 8 November 2006
At long last my bank gives in and pays my claim in full.

Podcasts

The Ultimate Guide To Illegal Bank Charges Podcast, 5 February 2007
David Kuo and I talk to one Fool about how she could reclaim illegal charges from her bank.

Landmark Illegal Bank Charge Court Case, 19 April 2007
David Kuo and I talk to barrister Tom Brennan, who is in court fighting his claim against NatWest.

Get help

Discussion Board
Chat with your fellow Fools about your experiences reclaiming bank charges.

Good luck!

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