Unauthorised Overdraft charges

2Fast2Furious

There is currently an ungoing High Court case in the UK regarding this issue following a Sunday Mirror campaign. It looks like it will fall in favour of the customer (us). At present you can write to your bank in the UK and request the charges be refunded which many banks will oblige. I have recently written to Per-TSB to request the same.

I wonder what their response will be? Does anyone else have any informaion regarding Ireland and this matter? Has anyone done the same? Does anyone have any advice on how to proceed if my bank declines to refund?

smelltheglove

I'd love to know what they say, I'd be minted if they refunded all mine;)

So whats the story with it? Are they not allowed to charge them? The Uk has different laws though.

2Fast2Furious

European Law is involved so it is a case to watch as this comes under our jurisdiction.

The case being fought is that these charges are unreasonably high and are illegal.

My bank allowed me to go -€1500 and upwards every month for over a year to the point were my salary was eaten up each and every month and I had a sort of phobia about cecking my balance. I was living on laser card with cashback - something I wish I had never discovered.

Now the bank has put a stop to this, many banks are doing this now which I am actually glad about because I am on track again after 2 hard lived months. My bank should never have allowed my account to go overdrawn to such extreme and on a repeted basic especially when it was so simple to implement a mechanism to disallow it.

dudara

Moved to Banking & Insurance & Pensions

dudara

BuffyBot

It's been discussed here before.

As it stands, there isn't a legal precedent here for recovering those charges. That's not to say it hasn't happened..but I wouldn't hold your breath waiting.

stepbar

2Fast2Furious wrote: »

European Law is involved so it is a case to watch as this comes under our jurisdiction.

The case being fought is that these charges are unreasonably high and are illegal.

My bank allowed me to go -€1500 and upwards every month for over a year to the point were my salary was eaten up each and every month and I had a sort of phobia about cecking my balance. I was living on laser card with cashback - something I wish I had never discovered.

Now the bank has put a stop to this, many banks are doing this now which I am actually glad about because I am on track again after 2 hard lived months. My bank should never have allowed my account to go overdrawn to such extreme and on a repeted basic especially when it was so simple to implement a mechanism to disallow it.

Am I missing something? Have you just absolved yourself of all responcibility there? :rolleyes:

2Fast2Furious

stepbar wrote: »

Am I missing something? Have you just absolved yourself of all responcibility there?

Will yes that is the whole point. You couldn't win a case unless you could prove that a proportionate amount of the responsibility lies with the bank:

* banks shouldn't approve a €300,000 mortage over 35 years for your average Joe who works in the local factory and will struggle to make the repayments

Banks definitely have a responsibility here!!!

They make hugh gains from these exorbinate charges - along with charges for depositing your money, charges for withdrawing your money etc need I say more.

dudara wrote: »

Moved to Banking & Insurance & Pensions



dudara

who is this 'dudara' - shake, shake - get of my back.

chris85

on the other hand i have been with my bank about 8 years now and my history with them is grand, paid back my loans and CC gets paid every month. I would be annoyed if they didnt pay a couple of DD's out of good faith even if the money isnt there at a particular time. Some people will give out to no end if the bank to do this.

I agree the charges are a bit heavy they put on. completely right.

jimoc

Considering the fact that the bank is actually honouring commitments that I have made against money that I currently don't have I actually find the charges quite reasonable for Bank of Ireland.
First 2 over limit items are free.
Next one is 3.50 charge
Next one is 5
then everyone after that is 10.

This is reset every quarter so I don't think I've gone above 6 charges in a quarter.
As soon as you do the first overlimit transaction in a quarter they will send you a letter stating that and detailing all the charges etc so its not like its happening without my knowledge.

How you actually managed to get into a -1500 unauthorized overdraft for over a year is mindboggling, what bank was it with?

stepbar

I also find this bizzare. Mind you nothing suprises me anymore (for reasons I won't go into). If something like this happened in the UK you'd be charged crazy amounts.

2Fast2Furious

I get paid a pretty reasonable salary. I got a laser card for handiness but discovered that even if you don't have money in your account you can still buy stuff and get €100 cashback, I wish I never stumbled upon this. I am with Permanent TSB.

Actually I take full responsibility. I am just jumping on the band wagon but with the possibility of getting my money back I would argue that the bank was fully irresponsible in letting a vunerable mentally ill law obidding citizen that uses a wheelchair go into the red.

stepbar

2Fast2Furious wrote: »

Actually I take full responsibility.

Thank you. Case closed .

stepbar

All you discovered was a flaw in the system. You chose to take advantage of it knowing full well that you could have got away with it. Problem is that banks don't operate as such. It's not like getting the wrong change in a shop.

2Fast2Furious

Am I forgiven?

Up the multinational banks, down with the consumer!!!

Toots

2Fast2Furious wrote: »

Am I forgiven?

Up the multinational banks, down with the consumer!!!

Eh, ok. Have you anything else constructive to add? Otherwise I think I'll just lock this.

2Fast2Furious

Toots* wrote: »

Eh, ok. Have you anything else constructive to add? Otherwise I think I'll just lock this.

Have you ever seen Lord of the Rings Toots?

Toots

2Fast2Furious wrote: »

Have you ever seen Lord of the Rings Toots?

That answers that questions.........sort of.

Thread locked.