Co-op Unfair charges need advice

[Readybrek]

I opened an account in sept 2009 and everything going fine until they started hitting me with charges and finally closing the account in march 2011.

 

My question is that

 

I have just found the welcome pack sent from them,

and noticed in there term and conditions sent with the pack that it says they will charge me if i go in a unauthorized overdraft

or dd/cheques are returned but there is no mention of what they will charge.

 

I thought that they will have to tell you their charges

and if this correct

 

can i reclaim my charges back due to them not informing me of the exact amount.

Many thanks for looking and take care all of you.

[renegadeimp]

What was the amount they charged you? As they arent allowed to charge an extortionate amount.

[Readybrek]

they used to charge me £30 for sending back a £2 cheque etc etc

[renegadeimp]

Thats not allowed iirc, they can only charge a fair amount, and that was around £12 and not set in stone.

[BRIGADIER2JCS]

A complaint outlining that £12.00 is considered an acceptable or fair amount for such actions and to charge more us unfair and request the difference back.

 

 

What is the status of the account now?

Edited February 16, 2014 by caro

[caro]

There has never been any suggestion that £12 is an acceptable amount for bank charges, and the OP has already stated that the account is closed.

 

I suggest that you take a look at BCOBS and use them to claim back charges.

[dx100uk]

ANY PENALTY fee whatever the level is unlawful because it is a fixed sum penalty.

 

BCOBS!!

[BRIGADIER2JCS]

There has never been any suggestion that £12 is an acceptable amount for bank charges, and the OP has already stated that the account is closed.

 

I suggest that you take a look at BCOBS and use them to claim back charges.

That is wrong, OFT stated that charges above £12.00 would be considered unfair most financial institutions have complied with this see

OFT Press release 2006!!

[caro]

No??

 

OFT Press release 2006!!!!!!!

 

That was made during the OFT investigation into bank charges but referred to credit card charges. There was never a suggestion that bank charges should be set at that rate.

[caro]

That is wrong, OFT stated that charges above £12.00 would be considered unfair most financial institutions have complied with this see

OFT Press release 2006!!

 

You edited as I was posting. As I said, this referred to credit card charges.

[caro]

As you also point out, it was a press release.

[BRIGADIER2JCS]

As you also point out, it was a press release.

Ohh dear!!!

There are many instances from 2006 to the present day that when it has been suggested

(a suggestion as you say) that £12.00 charges would not be considered unfair I believe

that some banks actually reduced charges for returned cheques/DDs etc., to £5- £8 after OFT intervention all except HSBC from memory which continued charges at £30- £35.

[caro]

Ohh dear!!!

There are many instances from 2006 to the present day that when it has been suggested

(a suggestion as you say) that £12.00 charges would not be considered unfair I believe

that some banks actually reduced charges for returned cheques/DDs etc., to £5- £8 after OFT intervention all except HSBC from memory which continued charges at £30- £35.

 

I am well aware that banks have reduced their charges since 2006, but not anything to say that £12 wouldn't be unfair. Who has said this and can you provide a link please?