Reclaiming Bank Charges

J

joesoap

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Just been reading an interesting article on the motley fool about reclaiming bank charges. They claim the following

Banks and card providers charge penalties if you breach your contract by defaulting, making a late payment, going overdrawn, returning a bounced cheque, or if a direct debit or standing order fails. The thing is, they're not allowed to do this

Does anyone know if this relates to Ireland as well. They say that you can claim back all your charges plus interest from the last six years. Here is the link explaining how to do it.

Joesoap

[broken link removed]
 
From reading that article, it appears that the OFT in the UK have decreed certain bank charges as excessive.

I don't think any official body has ever made such a pronouncement here in Ireland.

This doesn't mean that you can't complain about the level of charges to the bank in question. Whether they listen or care is another matter. You can of course take your business elsewhere.

It may be interesting to make a complaint to the Ombudsman. INBS were taken to task for their charging of penalty interest, even though I think it was set out in their loan agreements.

And if all else fails, you can call Joe Duffy.
 
UK bank charges for 'bad behaviour' are far higher than in Ireland.

i.e. £38 for a bounced cheque vs €12.70 here.

as far as I know the published tariffs of each bank have to be approved by the Director of Consumer Affairs.
 
nlgbbbblth said:
UK bank charges for 'bad behaviour' are far higher than in Ireland.

i.e. £38 for a bounced cheque vs €12.70 here.

as far as I know the published tariffs of each bank have to be approved by the Director of Consumer Affairs.
Click to expand...
Wow! Rip off UK! Or good value Ireland? :D
 
Just returned from a visit to my ptsb branch in relation to a referral fee. As a switch current account holder my account went into an unauthorised
overdraft of €13 for which they charged me €4.44 for the privilege.

I checked just before I left the office at 5pm that I was still in credit but when I checked at 8 the next day I noticed that I had gone €17 into the red sometime between 5pm and 11.59pm the previous day but also money I had transferred to cover myself, had also kicked in the next day so I was safely back in credit.

I read on fool.co.uk about reclaiming bank charges and went with the attitude, as recommended on the website 'unlawful and no permission',
hoping this would work.I realised it was UK site and more than likely wouldn't hold over here. But when I got there I had a quick check about their charges relating to overdrafts and picked up on applying charges ‘that day or the next working day’. Queried the charge and quoted their
handbook and the customer service guy said he would refund the fee straight away.True to his word money is back in the acc.

So now I’m thinking was he just being nice to keep me from escalating the matter or did I have a genuine argument.Not really bothered but hey the money is back in the account so happy days!It was a minimal amount anyway!
I’d nothing to lose anyway but I’ll make sure it doesn’t happen again!
 
PTSB have often refunded small charges at their own discretion when I queried them on my account. It was a pre Switch account so still subject to certain charges (e.g. DD setup, certain card fees etc.). I havd sinced moved to Switch so these charges are no longer an issue.
 
Lloyds TSB in the UK charge £30 for going over your agreed overdraft. complete rip off.. BOI charge approx €12.

Quite a differance!!
 
Not a ripoff if that's what's stated in their terms & conditions/tariff sheet.
 
whether or not its expressed in the terms or conditions still does not justify what they charge. but i take your point... i should say it's excessive
 
Flick said:
Lloyds TSB in the UK charge £30 for going over your agreed overdraft. complete rip off.. BOI charge approx €12.

Quite a differance!!
Click to expand...

BOI charge nothing 1st time. €3.50 2nd & 3rd time€5 4th & 5th time & €10 each time thereafter that you go over agreed o/d limit. Charges can rack up pretty quickly. It's always best to get an arrangement put in place if you're going to overdraw.
 
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