So angry with my bank right now Watch

anna_spanner89
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#21
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#21
(Original post by death.drop)
it's not that fussy. you just write them a letter saying 'you charged me <x> amount of money which I feel was excessive to cover the charges you encurred. I believe you should refund me this money blah blah blah' and quote that thing on what they should be able to charge you. all the details are on that site you were linked to I think.

it may seem like a lot of hassle, but think how many hours you work to make that money. I bet you'll spend less time faffing around with the bank, and it's partly the principle of it to me.
True..i've never felt so angry before
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Girl♥RadioHeart
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#22
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#22
(Original post by anna_spanner89)
i rang up and they said it was an automatic charge

i'd be understandable with the £18 charge..but not £45!!!!! over 87p!!! ARGH
Lloyds TSB are b*ggers for this...They did it to me before I got wise to it. I'm a student and last year didn't work so was using my overdraft this year, with the intent of paying it back this summer as I'm working fulltime - making sure I never went overdrawn, you have to be so careful. However, on the odd one or two occasions i went overdrawn on my current account [before I switched to student account] they charged £30 for the first day and then £30 everyday after that...[I always paid it back within the first day, so the first time I wasn't charged, the second I was charged £30].. so for going overdrawn 0.27p you could given a fine of £90-£120... Go into the branch to say you've not been overdrawn before and it was a mistake and you hadn't realised and they may drop the charge..if you pay the money back within a day they don't charge you...
You can:
a) File for a refund
b) Pay it back and change banks, like me lol
c) Pay the fine and use it as a learning experience

Hope you sort it!!! Sorry I couldn't be more help!
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anna_spanner89
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#23
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#23
(Original post by Girl♥RadioHeart)
Lloyds TSB are b*ggers for this...They did it to me before I got wise to it. I'm a student and last year didn't work so was using my overdraft this year, with the intent of paying it back this summer as I'm working fulltime - making sure I never went overdrawn, you have to be so careful. However, on the odd one or two occasions i went overdrawn on my current account [before I switched to student account] they charged £30 for the first day and then £30 everyday after that...[I always paid it back within the first day, so the first time I wasn't charged, the second I was charged £30].. so for going overdrawn 0.27p you could given a fine of £90-£120... Go into the branch to say you've not been overdrawn before and it was a mistake and you hadn't realised and they may drop the charge..if you pay the money back within a day they don't charge you...
You can:
a) File for a refund
b) Pay it back and change banks, like me lol
c) Pay the fine and use it as a learning experience

Hope you sort it!!! Sorry I couldn't be more help!

Thanks for your help, i was overdrawn once, when i had JUST turned 18 and didn't know there was overdrawn charges (because you can go over when under 18 and not get charged) and they dropped it

meaning i think they're less likely now..i'm ok if they don't drop it, but just bring it down too the £6 limit as opposed to the £15 one, would that be a fair compromise?
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Dionysus
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#24
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#24
You'll get it all back eventually, because of an ongoing court case which will mean they have to repay it, but that could take years.
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Girl♥RadioHeart
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#25
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#25
(Original post by anna_spanner89)
Thanks for your help, i was overdrawn once, when i had JUST turned 18 and didn't know there was overdrawn charges (because you can go over when under 18 and not get charged) and they dropped it

meaning i think they're less likely now..i'm ok if they don't drop it, but just bring it down too the £6 limit as opposed to the £15 one, would that be a fair compromise?
Yeah...all you can do is try...
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anna_spanner89
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#26
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#26
UGH well im starting a new job soon, £1200 a month, being in fianancial debt will soon be a thing of the past..
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The Bachelor
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#27
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#27
(Original post by death.drop)
what do you think they're doing with your money? it doesn't just sit there, they invest it all over the place and make money that way.
If you have a lot of savings in the bank, they'll like you, yes. If you have so few savings as to be in overdraft, they won't like you, no. Unless I have somehow completely mistaken this concept.

Edit: And maybe I have. Reading.

Edit Edit: Indeed, you're right. My statement above will have to be modified, to something like the following:

The average student tends not to have a lot of money (in savings - but in general), no offense. So the banks don't really stand to make that much money from investing their savings (of course, they want every bit of our money, but when you consider the cost of giving all these services to an individual person, the rate of return on the student is lower than on someone who's making a hellualot of money). So generally (in the states, anyway) overdraft fines tend to be their way of making money off of these student accounts. Hence my initial pessimism that they'll willingly relinquish any.
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jacketpotato
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#28
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#28
These sites may be of assistance:
http://www.thisismoney.co.uk/bank-ch...tter-templates
http://news.bbc.co.uk/1/hi/business/6170209.stm

There are plenty of others, including a very helpful forums (I helped a friend reclaim her charges awhile ago): just google for reclaiming bank charges.

Goes without saying that these charges are outrageously disproportionate. Banks tend not to bother defending small claims, and these can even be made online, and this may not even be necessary if you send them a stern letter, template in the links above. You've got a good chance of getting your money back.

I suggest you use a letter from one of the templates rather than ringing up, the guys manning the phone lines probably don't have any authority to refund the charge.

It seems so complicated and fussy aswell too file, plus all complaints are on hold until july
This is the case with some charges, but for small claims the banks will usually just settle
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Callipygian
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#29
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#29
(Original post by anna_spanner89)
so?? you're probably under 18
im 18
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death.drop
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#30
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#30
(Original post by Ancient Runes)
If you have a lot of savings in the bank, they'll like you, yes. If you have so few savings as to be in overdraft, they won't like you, no. Unless I have somehow completely mistaken this concept.

Edit: And maybe I have. Reading.

Edit Edit: Indeed, you're right. My statement above will have to be modified, to something like the following:

The average student tends not to have a lot of money (in savings - but in general), no offense. So the banks don't really stand to make that much money from investing their savings (of course, they want every bit of our money, but when you consider the cost of giving all these services to an individual person, the rate of return on the student is lower than on someone who's making a hellualot of money). So generally (in the states, anyway) overdraft fines tend to be their way of making money off of these student accounts. Hence my initial pessimism that they'll willingly relinquish any.
Although over time students may not have money on the days their loan installments go in they have a lot of money in their account. on that day their account is more valuable to the bank than your average working persons. Also, students are the high earners of the future. they want to make you think that they're the best bank available so that you stay with them when you've got tens of thousands coming in each year. It's in the banks best interest to provide the best possible service to students and basically get them to stay with them long term.
And while it may be a lower rate of return on a student account than on that of a high earner, there are only so many high earners in the country and a low rate of return on student accounts is better than making no money from students.

I do see what you're saying though, a bank will definitely be more likely to wave a fee if it's a loyal customer who's never gone overdrawn before and has a lot of money in their account than they are with the average student.

I don't know why I bothered typing all that. I'm very bored. can delete if you want OP since it's all off topic-y.
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The Bachelor
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#31
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#31
(Original post by death.drop)
I do see what you're saying though, a bank will definitely be more likely to wave a fee if it's a loyal customer who's never gone overdrawn before and has a lot of money in their account than they are with the average student.
Something like that, yeah.
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anna_spanner89
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#32
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#32
Ok....I'm about too head over to my bank, wish me luck..eeeek!!!!
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Rob 07
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#33
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#33
Just be polite and explain your situation and hope for the best!
Good luck
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