Aug 05

Reclaiming Bank Charges

Banks have long since charged customers when they have gone over their authorised overdraft limit or if a direct debit payment has been refused for whatever reason. In general these charges have been around £30 and in many cases adding these penalty charges to an already overdrawn account pushes the customer into even more financial difficulty and the downward spiral begins.

Did you know that last year alone the top 6 High Street banks made over £4bn in penalty charges?

But the law is clear that any charges must be proportionate. Does it really cost £30 for a computer to generate a letter?

We feel that these charges are not proportionate and therefore are not legal and it is on this basis that we contact the bank on your behalf and negotiate to have all of these penalty charges reimbursed.

If you think that you have been the victim of unfair bank penalty charges simply complete the online form, print of the documents, read them carefully, fill in any necessary information and sign in the appropriate place.

If you don’t have a printer don’t worry, simply fill in the form and select the appropriate option and we will print it out and send it back to you for your signature. Easy.

Forward them to us and we can start working on getting your money back. This is at no cost to yourselves

How do you claim back my penalty charges?
Once you have completed the online form we will contact your bank and arrange for copies of your statements to be issued which we will check on your behalf for any unfair bank charges.

We will then negotiate with the bank to Claim Back Packaged Bank Account Fees, it couldn’t be simpler.

How much will it cost me?
We work on a no win no fee basis with nothing to pay upfront. When we have recovered your bank charges we will invoice you for 25% of the recovered amount including VAT.
How long will it take?
On average the entire process should take between 2-3 months.
How far back will you go?
We can recover up to 6 years of bank charges plus statutory interest.
If I have closed my account can I still claim?
Yes – in most cases we can recover money irrespective of whether the account is open or closed.
Will I have to go to court?
No – in the unlikely event that your claim has to go to court we would act as your Representative if the bank defends the action. If we lose, it will be at no cost to yourself. We will pay all upfront court costs (If the claim is successful this fee will be repaid by your bank in addition to the claim and in turn will be payable to ourselves).
Could the bank close my account following any claim?
Whilst claiming back bank charges we aim to minimise any disagreement between you and the bank and therefore it is very unlikely that the bank will close your account. The Banking Codes Standards Board advises that banks should not “take a disproportionate response” and should treat customers “sympathetically and positively” when dealing with such claims.
Will this action affect my credit rating?
No – reclaiming your bank charges will in no way have a negative affect on your credit rating.
What is your success rate?
To date we have had a 100% success rate in recovering unfair bank charges for our customers.

Feb 03

Mis-sold Store and Credit Card PPI Claims for Compensation

Payment Protection Insurance, or as it’s more commonly referred to, PPI, has been available for many years. Sold by financial institutions PPI has often been mis-sold, meaning if you’ve purchased it you could be entitled to claim back PPI compensation.

One of the main elements of the PPI mis-selling scandal was with credit cards and store cards. Credit cards have long been regarded as a cash generator for credit card providers, with expensive credit extended with often, arguably unjust fees enforced for missed payments, modified credit levels and a variety of other measures. The introduction of payment protection insurance as yet another product for credit card customers to buy made them far more profitable for card providers, that is until the full extent of the PPI mis-selling scandal came to light.
What has since been proven to be the case is that credit card issuers had been selling PPI coverage as compulsory, or without the prior knowledge or agreement of the consumer within the credit card deal. This resulted in extra monthly fees by way of PPI payments, while giving minimal in terms of real benefit. Though PPI itself can be useful, almost all those affected by the PPI mis-selling situation discovered it to represent poor value for money, especially when purchased from the credit card supplier, and also found them confusing and an often unwanted product.
Regarding credit card consumers, PPI has become generally viewed as a waste of money. The payment levels on individual credit cards are generally at manageable levels, inspite of the high levels of interest payable, and generally the dangers of a temporary default are met, whilst affecting your credit history, shouldn’t result in excessive personal hardship. It’s debatable within these circumstances whether an generally prudent customer would contemplate PPI to offer a beneficial extra, not to mention those thousands of credit card consumers who have been unknowingly sold PPI, or who have been misled into believing it had been an essential step in validating the credit card suitability.
Mis-selling of PPI policies has impacted countless thousands of borrowers across the country. While the Financial Services Authority (FSA), the Office of Fair Trading (OFT) as well as the High Court have all stated that PPI mis-selling is not acceptable, there still remains several customers with outstanding claims for PPI compensation.
If you think you may have been mis-sold PPI cover and would like to make a PPI claim for compensation, complete the contact form today and an advisors will call you back to discuss your case.
Remember it’s a no win no fee service, meaning if you don’t win you case that it won’t cost you a penny.