New Easy (?) Spreadsheet to Calculate your Charges and Interest

[ohoh4312]

This is the spreadsheet I have been working on to calculate your Bank Charges claim including overdraft interest.

 

There is a link here to notes I put in BankFodders' thread "Why let the banks keep your money....," but we thought it best to put it here also, where it should reach a wider audience.

 

http://www.consumeractiongroup.co.uk/forum/show-post/post-2206756.html

 

Please let me have your thoughts - the more feedback I get, the better the end result will be for everyone.

Draft Int Calc2.xls

[landy_alert]

Hi ohoh:)

 

Thanks so much for the spreadsheets - I'm having another play around with them now!

 

Just a quick question and apologies for being so thick, but I'd never touched a spreadsheet before coming across Cag so I'm still a relative novice to all this, so here goes -

 

You know you have put 'cleared transaction' on the spready, well do I have to enter all my cleared transactions as they appear on the statements as well as all the charges?

 

Many thanks.

 

Regards,

 

Landy x

[ohoh4312]

Oh sorry hun, didn't mean to confuse you.

 

"Cleared Transaction" is actually a charge - you know when they write to you and say something like:

 

"We have paid the amount(s) listed below even though there are insufficient funds in your account...."

 

How nice of them.... but then they charge you £20 (for example) for the privilege!

 

It may be called something different by your bank - simply enter the charge description that you have on your statement - eg Paid transaction fee, Visa transaction fee, etc etc.

 

Hope that helps x

[landy_alert]

Hi ohoh:)

 

That's ok - 'twas just me being a bit of a thickie, lol. I thought it couldn't be all the actual cleared transactions, but just wanted to make sure.

 

Will plough on with it now and see how it goes - really appreciate the effort you've made to do this!

 

Regards,

 

Landy x

[ohoh4312]

Just bumping.

[ohoh4312]

Any thoughts or feedback?

[landy_alert]

Hi ohoh:)

 

Sorry not to have responded earlier - I've got so many claims on the go at the moment I don't know if I'm coming or going!

 

I had a play around with the spreadsheets and was most impressed with how much my claim for bank charges would increase if I were to use these. However, OH and I have already put in our claim (and amended it twice) using the Complex spreadsheets which do calculate overdraft interest so I'm not really sure whether to go ahead and amend them yet again! Also, the total seems to be quite drastically different from that worked out on the Complex spreadies and I'm not sure why there is such a vast difference?

 

When I get a spare five minutes I'll have another look and see if I can work out why this is. I'll then report back to you with my findings!

 

Has no-one else tried them out yet?

 

Take care,

 

Landy x

[ohoh4312]

No worries Landy - thanks for your feedback.

 

Could it be the stat interest that is making the difference? I haven't used the complex spreadie myself, but I was under the impression that the 8% was not applicable to these claims, so I wonder if that is the case?

 

And/or have you made sure that once you hit the overdraft limit you have just put the interest figure into column B? Sorry, I am sure you have, it is just that once you go past that figure, the calculation will return a value greater than the actual interest charged, giving a falsely inflated total.

 

I did try to write a formula whereby the calculation would return the actual figure after this point, but it was beyond me I am afraid.

 

Anyway, let me know when you get a chance please.

 

ohoh x