Man recovers £35,988 from NatWest ! - HotUKDeals
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Man recovers £35,988 from NatWest !

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9y, 7m agoPosted 9 years, 7 months ago
A businessman from Norfolk has recovered a record £35,987.94 from NatWest after accusing it of charging him unlawful overdraft fees. The man, who wishes to remain anonymous, had challenged the fees that the bank had levied for bouncing cheques from his company.

NatWest said it was settling the case only because its legal costs were becoming too high. It is just the latest example of a bank repaying such penalty charges.

http://news.bbc.co.uk/1/hi/business/6559673.stmhttp://news.bbc.co.uk/1/hi/business/6559673.stm
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9y, 7m agoPosted 9 years, 7 months ago
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#1
Fair play to the guy, I don't blame him for challenging them, the charges are ridiculous and unjustified.
#2
Fantastic News!

Although it must be said that until the charges are deemed actually unlawful, banks will continue to charge them.

At the moment they are only deemed as unfair.
#3
Surefire_MJ
Fantastic News!

Although it must be said that until the charges are deemed actually unlawful, banks will continue to charge them.

At the moment they are only deemed as unfair.


Good point, but what are the chances of the government actually changing their stance and deeming them unlawful?
#4
What happened with the case on Friday?
The newly qualified barrister taking Natwest to court. They tried to settle but he would not. Wanted his day in court.
#5
Vinylandtrinkets this is a draft of a letter I got from the bank action group to recover fees from my credit card
your address]

[their address]
[DATE]
LETTER BEFORE ACTION
Dear Sir/Madam,
CARD/ACCOUNT NUMBER: xxxxxxxxx
I now understand that the regime of fees which you have been applying to my account in relation to late fees and over limit charges, are unlawful at Common Law, Statute and recent Consumer regulations.
I would draw your attention to the terms of the contract which you agreed to at the time that I opened my account. It is an implied term of that contract that you would conduct yourselves lawfully and in a manner which complies with UK law.
I am frankly shocked that you have operated my account in this way as I had always reposed confidence in your integrity and expertise as my fiduciary.
I calculate that you have taken £XXXXX plus £XXX which you have charged me in interest for the sums which you have taken. Total £XXXXX
Additionally, you have entered a default notice against my credit record. This default occurred merely in respect of unlawful charges levied by you, or was the result of impecuniosity caused directly by the taking by you of penalty charges which you had applied unlawfully to my account.
In addition to full payment of the sum mentioned above, I require that you remove the default entry from the register. Please note that mere correction or amendment to the entry will not be acceptable.
I require repayment in full of this money and removal of the default notice. If you do not comply fully within 14 days, I shall begin a claim against you for the full amount plus interest, plus my costs, without further notice.
Yours faithfully,


[name]

I successfully recovered my fees
[mod]#6
Excellent!! A couple of my friends have claimed money back. Nothing like the £35 grand though :w00t:
#7
tonyd19565
What happened with the case on Friday?
The newly qualified barrister taking Natwest to court. They tried to settle but he would not. Wanted his day in court.


I was wondering what happened with this case as well, haven't heard anything about it since Friday.
#8
Great - here is where the customers who avoid charges by paying things on time & having enough money in there accounts get stung by paying for a normal account now.............
#9
ChrisUK
Great - here is where the customers who avoid charges by paying things on time & having enough money in there accounts get stung by paying for a normal account now.............

I pay my accounts on time just happened the statement never arrived so I was charged for the royal mails failure.
Don`t make assumptions before knowing the facts
#10
So because the statement never arrived, you didn't chase it up/check online/online banking etc ??

Banks are to start charging for current accounts soon because people are claiming back the charges for going overdrawn/not having enough cash in the account to pay a DD or cheque etc.

Now I may not agree with the amount they charge if the above happens to you, why should people who have never been charged by the bank (by keeping an eye on thier finances), have to pay for a current account in the near future ?
#11
ChrisUK
So because the statement never arrived, you didn't chase it up/check online/online banking etc ??

Banks are to start charging for current accounts soon because people are claiming back the charges for going overdrawn/not having enough cash in the account to pay a DD or cheque etc.

Now I may not agree with the amount they charge if the above happens to you, why should people who have never been charged by the bank (by keeping an eye on thier finances), have to pay for a current account in the near future ?


You really shouldn't make assumptions on this when you don't know the situation behind everyone's claims. Sometimes it is easier said than done keeping an eye on finances. I am claiming against my bank from a position that I found myself in 5 years ago resulted in charges on my bank account.

People on very tight budgets end up in a vicious circle when the bank start putting these charges on accounts, there are cases of people going over their overdraft by a few pence and being charged £30 - £35.

I agree that the banks should charge when not enough money to pay direct debits etc but the charges should be reasonable not excessive as they are at the moment.
#12
tonyd19565
What happened with the case on Friday?
The newly qualified barrister taking Natwest to court. They tried to settle but he would not. Wanted his day in court.


This case is still ongoing seemingly it will be a few weeks before the outcome is known
#13
I agree mate - but can you see my point? Although you found yourself in circumstances beyond your control, not everyone is subject to such circumstances & gets charged.

Please dont see this as me flaming people, I'm just putting a point across :)
#14
ChrisUK
I agree mate - but can you see my point? Although you found yourself in circumstances beyond your control, not everyone is subject to such circumstances & gets charged.

Please dont see this as me flaming people, I'm just putting a point across :)


So for your free banking Chris, you want those less financially astute than yourself to subsidise your banking? I work for a bank (non-retail side) and people get hit for these unlawful/unreasonable charges and it creates a vicious cycle of debt.
#15
so when the banks charge you for not using your card "chrisuk". You will happily pay up. You have never forgot to pay someone?
Banks don`t need to charge for current accounts the profit comes from the corporate sector not the retail.
I hold shares in two major banks and it was one of these that charged me. Yes I keep track of my finances and occasionally I will forget something but I will also fight for something taken from me illegally as the law stands
#16
ChrisUK
Great - here is where the customers who avoid charges by paying things on time & having enough money in there accounts get stung by paying for a normal account now.............



The ony reason you have had free banking is because of the money made from such charges.
#17
If any of the banks start charging for a current account, I'm gonna be paid in cash and buy a safe and keep my money in that.
LoL
Truthfully though the banks make their billions of pounds worth of profits using our money and to charge us for the privilage will be nothing short of a slap in the face.

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