Illegal bank charges, Unlawful bank charges, and Unfair bank charges. So you’ve been charged by your bank and you don’t understand why? Here is a practical guide to reclaim illegal bank charges, unlawful bank charges, and plain unfair bank charges.
Currently there is a court case in progress to decide if the bank are making money from illegal bank charges, unlawful bank charges, and unfair bank charges. As banks do not have to repay bank charges at the moment, they are not doing so unless they feel that the illegal bank charges, unlawful bank charges, or unfair bank charges are in fact bank error. Bank Error.
Banks to error on time to time, but it is very rare that a illegal bank charge is caused by bank error. However in some cases employees do make mistakes. Let us say for example that you have a packaged account (an account that you pay a monthly charge for, and in return you get stacks of benefits and discounts and services included). If you decide that you no longer want this account and if you are entitled to remove the deal from your account you go into your bank to have this removed. You need to sign something to agree the removal (as banks keep an extensive paper trail as proof of EVERYTHING), and in return you should get a receipt. If for some reason your account doesn’t get changed to a standard account and you continue to get charged, resulting an an un-arranged bank charge, this is classed as bank error. In this instance you need to take your receipt. to the bank and demand a refund. This can’t be refused. Unfortunately as I have just mentioned banks keep evidence of everything done and bank error is uncommon. Reasons for getting bank charges. Guaranteed Card Payment Fee.
Unless you can keep on top of your money, using a debit card can be very dangerous. People believe that if they don’t have the money then the card will be refused. Unfortunately not in every case. Shops and ATMs do not have real time communication with the banks. At times it is impossible to know if there is money in the account. A shop has what is called a floor limit on their card transactions and all transactions under a pre-specified limit will authorize without contacting the bank. on top of that, retailers have the option to hold that payment on their systems for up to 6 months without communicating that information to the bank. So how could the bank possibly know if you have spent the money? It can’t. It is up to you to keep track of how much you have been spending. This also applies to cash machines, however cash machines do generally update much quicker. Paid & Unpaid Referral Fees.