Unfair OD charges going back 5yrs - FOS rule in favour of HSBC - help

[furrybootlace]

hi new to forum so just a quick post

 

just had a decision back relating to bank charges

the fsa has agreed with hsbc that there have been treating me fairly.

 

i have had a overdraft facilty of £2000 but the reason this is so high is because we kept having to extend it

i get paid every week

but want is happening is there keep taking charges rangeing from £25.00 pounds to 150.00 pounds

so far we have paid over 5000 pounds in charges in the last 5 years is this far please help:mad2:

[BankFodder]

No this doesn't sound fair at all - but if you have had a decision from the FSA which says that it is fair - then you have exhausted all available avenues.

 

Can you tell us more about the FSA decision. Can you post the letter for us and tell us how you made the complaint? - or do you mean the FOS?

[furrybootlace]

sorry yes got that bit wrong long day i meant the fos

[dx100uk]

BCOBS

 

dx

[BankFodder]

The FOS will never rule against the banks on the question of charges.

 

The FOS will try to find a solution which is fair to you within the limits of the account contract.

 

To my mind, this is at odds with the statutory duty owed by the bank to treat customers fairly under BCOBS.

My view of BCOBS is that it requires that banks treat their customers fairly in all circumstances - and that if that fair treatment is in conflict with the account contract, then it is the requirement of fairness which takes priority. This approach is the same approach as required by UTCCR which in many circumstances actually strikes down any contractual terms which are deemed to be unfair.

 

To my mind, charges at their usual excessive rate are unfair but they would need to be challenged under BCOBS. There is no point in going to the FOS about a BCOBS breach. The FOS has prevented itself from making decisions on the basis of BCOBS.

If you wanted to complain about charges under BCOBS you would have to begin an action in the County Court. So far no one has been prepared to do this - but it is something which needs to be clarified in court

[furrybootlace]

unfair charges just a quick question can i go back to hsbc now the fos has made it decisision and use the bocobs before i make a decision about going to court. i am very tempted to go down the courts route with some guidance.