If you believe your bank have been charging you unfairly, you may have some recourse. You have to be conscious of your rights and try out to reclaim bank charges which have been unlawful. There are some uncomplicated techniques concerning how to reclaim bank charges but you need to be ready in any response which you may get from these finance institutions. As almost all of us believe, banks do not want to give you the money they owe to us plus they are able to do everything for the benefit of gaining profits even if it means that individuals are now being charged unfairly.
Opening a bank-account implies you have entered into a contract with the bank. If you bounce cheques or overdrawn your bank account, you could have in effect breached that contract and you could be forced to create repayment. However, the sum you pay must be reflected as genuine costs and not exceeded the damages the bank must support. Penalties, in other words, are not to be applied, only the actual cost of the overdrawn account.
Although you have no right to be excused from legitimate charges, it is possible to still try to reclaim bank charges and any excessive charges classified as penalties. Again, that’s anything beyond what your overdraft plus they charge 20 pounds, as an example of a penalty being charged by the banks, it is usually challenged. In the same way, being charged excessive fees, like 30 pounds for a bounced cheque when it did not cost the bank anything or imposing large daily fines with interest if you go into overdraft, are also examples of these penalties and you could also reclaim bank charges which can be unfair.
To figure out the amount that you could have when reclaim bank charges you can go back into your records and add up any charges that you know are excessive because they’re penalties instead of actual costs incurred by the bank as a result of your overdraft.
Often, banks will enjoyably return the money for illegal bank charges if you simply ask for them. This will avoid any need for legal action. There are usually letter templates available on the internet for these types of letters and it is useful if you download one instead of seeking to write on your own. Keep copies of the correspondence and contact a few days later to see if it has been acquired and if you can reclaim bank charges which you requested, noting whom you spoke to, and the date and time you’d the conversation.
Give the letter to your local branch and not the head office, simply because this will assure that your case is heard in your area. Wait for two weeks for a reply and see what happens. If the bank says it is going to react at a later date, make sure you stay on top of it and write and call back right after two weeks.