{"id":84,"date":"2007-03-23T01:50:54","date_gmt":"2007-03-23T01:50:54","guid":{"rendered":"http:\/\/www.the-finance-zone.co.uk\/uncategorized\/partial-success-for-bank-charge-refunds\/"},"modified":"2007-03-23T01:50:54","modified_gmt":"2007-03-23T01:50:54","slug":"partial-success-for-bank-charge-refunds","status":"publish","type":"post","link":"https:\/\/the-finance-zone.co.uk\/index.php\/2007\/03\/23\/partial-success-for-bank-charge-refunds\/","title":{"rendered":"Partial success for bank charge refunds"},"content":{"rendered":"

Most of us who try to reclaim bank account penalty charges get at least some money back, a study has found.<\/span> <\/span><\/strong><\/p>\n

A survey for the consumers’ association Which? Indicates that around 85% of people who have demanded a refund have been at least partly successful. <\/span><\/p>\n

However, only one third of people who believe they may have been overcharged have asked for money to be reimbursed. <\/span><\/p>\n

The Which? survey of 2,228 adults found that some were scared of their bank’s reaction if they asked for a refund. <\/span><\/p>\n

“Claiming back unfair bank charges is a simple process that won’t take up hours of your time,” said Emma Bandey of Which? \u00c2\u00a0If your bank does not co-operate, you should refer the case to the Financial Ombudsman Service (FOS) as so far the banks have chosen to settle all cases referred to FOS,” she noted. <\/span><\/p>\n

In the past year the UK’s banks have been inundated with complaints from customers that the charges levied on their accounts for items such as unauthorised borrowing are far too high. <\/span><\/p>\n

Typically the charges range from \u00c2\u00a320 to \u00c2\u00a330 for things such as bouncing a cheque \u00e2\u20ac\u201c which in reality cost the banks pennies to process.<\/span><\/p>\n

The customers have been complaining that the charges are so high they cannot possibly be a fair reflection of the administrative cost of levying the charges and that they are therefore illegal. <\/span><\/p>\n

Thus far no bank has decided to contest any refund claim in court.<\/span><\/p>\n

The Office of Fair Trading is set to publish a report soon on whether the size of the banks’ current account penalty fees is fair. <\/span><\/p>\n

Unhelpful<\/span><\/strong> <\/span><\/p>\n

Some banks have even been retaliating against customers by closing their accounts if they ask for a refund. <\/span><\/p>\n

A quarter of those in the Which? survey who had got round to making a claim said their bank had been unhelpful and unresponsive <\/span><\/p>\n

“It is terrible how poorly some banks have been treating some customers,” said Emma Bandey of Which? <\/span><\/p>\n

“It is bad enough that they have been levying unfair charges for all this time, but the response from some banks shows that they need to work on their customer service,” she said.<\/p>\n

That reminds me…\u00c2\u00a0 I must chase up lloyds<\/p>\n","protected":false},"excerpt":{"rendered":"

Most of us who try to reclaim bank account penalty charges get at least some money back, a study has<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","footnotes":""},"categories":[2,48],"tags":[],"class_list":["post-84","post","type-post","status-publish","format-standard","hentry","category-banking","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/84","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=84"}],"version-history":[{"count":0,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/84\/revisions"}],"wp:attachment":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=84"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=84"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=84"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}