To Reserve or not to Reserve, that is the question...

[slick132]

Hi Peeps,

 

This Sticky is for general discussion about the Reserve Fees.

 

To discuss detail of individual cases, start your own threads in the Barclays forum.

 

Keasby - Opting out of the Reserve System should be done in writing if you decide the old charging system may be cheaper for your circumstances. You should be able to reclaim these old style charges as done before.

 

However, because Barclays don't want you to do this, they may withdraw any O/D facilities, meaning you'll get charged less, but more often.

 

KennyH - Reclaiming Reserve Fees is pretty much untested so far. In theory, they should be reclaimable now, regardless of the general Stay on claims, because they were introduced before the OFT case is over. Keep an eye on Bookies thread as her case is with the FOS now.

 

Another pointer is that Barclays have refunded Reserve Fees under the Hardship Rules, which they wouldn't do if they thought the fees would stand up to close scrutiny.