Today, there have been many bank clients who have too much bank charges because they have incurred overdrafts, bounced checks or may have failed to pay bank charges. To note, banks have long been blamed for imposing unfair bank charges to clients. The number of complaints against banks has soared; most complaints are about interest rates and unfair charges. This unfair bank charge is the same as mis-sold mortgages.
This is why, it is very important for customers or bank clients to understand how their banks are charging them so they could reclaim bank charges. Here are things that a bank client must do to reclaim bank charges.
The first thing you must do to reclaim bank charges is to know your rights. When you open for a bank account or if you take out a credit card you will be signing for a contract. Remember that if you make an overdraft or if you issue bounced checks, this is oftentimes equivalent to a charge for breach of contract, which will cost you for liquidated damages where it could be enforced by the court for payment. However, the bank charge should reflect the actual costs or else it will not be enforced by the court. The next thing to do is to figure out how and why you have been charged with unfair charges. You can claim back excessive bank charges. After identifying what you were overcharged for, look for a lawyer to help you with your claim. In this case you should be able to keep all your bank statements and receipts of everything that you paid for. If you were not able to keep your bank statements, write to your bank and ask for a list of all charges that shows the date, amount and the offense you have committed. Any bank is under the Data Protection Act of 1998, the no bank should refuse to issue a client of a list of charges otherwise they would be charged for this.
However, in cases like this or to reclaim bank charges, banks would normally refuse to make pay outs, so write to your bank and inform them to look into your concern. Inform them that if they will not give you answers about your concerns, you will take a court action.
If the bank still refuses to make a pay out, start with your claim. Look for a lawyer – a compensation solicitor, if you were able to keep all your bank statements, show them to your lawyer, if the bank had sent you a list of the charges you have incurred for six years, show it to your lawyer too. From this point on, he will be doing all the paper works for you, from dealing with the bank to bringing your case in court so that you will eventually reclaim bank charges in no time.
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