Reclaiming Unfair Bank Charges - The First Step

The first step is very simple - write to the bank and ask for your money back! Yes, really!!!

The letter, using a standard letter template (your address etc at the top) should give a reference of your bank account and include the date it was written.

Then, tell them that you are requesting a refund of all charges applied to your account in the past 6 years. Remind them that Under the Unfair Terms in Consumer Contracts Regulations 1999 charges must reflect administration costs and cannot be punitive. Then list the charges you have incurred and the amounts involved in each, stating that you do not believe the amounts to reflect the true cost to the bank.

Next, state the total amount that you have been charged and request that they repay that to you.

Finally, ask them to repay the money in full within 14 days, or you will begin a claim against them for the full amount, plus interest and costs.

If you are at all uncertain, plenty of websites show sample letters and include calculators to determine what you are owed.

> Next, Second Step To Reclaiming Unfair Bank Charges.