How to reclaim your bank charges

[Legal Beagles]

Customers area step closer to getting money back following a court decision in favour of the Office of Fair Trading.

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[Amethyst]

Re: How to reclaim your bank charges

Well done Telegraph.

1 Claim financial hardship
There is one exception to the freeze on bank charge reclaiming – and that is if you fit a definition of "financial hardship". If you do, the banks have to consider your case and may refund the money you have lost because of the charges.
As a loose guide, you can claim that you are in financial hardship if your income is not enough to cover reasonable living expenses such as utilities, rent or council tax. If you have mortgage arrears or are struggling to pay back credit card debts you may also be considered. If you have been made redundant, have a disability or serious illness or are starting full-time education, this may help your case.
Step one is to write to your bank, explaining that you fit the financial hardship criteria and would like your case looked at. Your bank will probably send you a financial statement to complete, which you should fill in as soon as possible. Your bank may then offer you a partial or full settlement.
If you are unhappy with what it offers, or your request to be considered is ignored and you believe you meet the criteria, you can write to the Financial Ombudsman Service, who will take the matter up for you www.financial-ombudsman.org.uk 0845 080 1800).