Money saving expert Martin Lewis has said “There is no guarantee of winning, yet for some, primarily those in hardship, there is still a risk-free, cost-free process which could see money coming back.”

He goes on to say “The safest thing to do is to plan your finances on the fact that you won’t get a payout, but cross your fingers in the hope that you will”

We at Advice4debtNI advise initial contact with your bank to appeal charges which you deem to be unfair.  Charges will be deemed to be unfair in one of the 3 following situations:

• You are in financial hardship,
• The charges are disproportionate; i.e. £35 charge for going £1 over,
• You are stuck in a cycle of charges you cannot break out of.

Be aware that your bank will undoubtedly reject your claim upon first correspondence, or they will seek further information from you.  Perseverance will be key to you making a successful claim. 

It is important to note that the Financial Ombudsman can be contacted to help settle disputes between financial companies and their customers but only after you have exhausted your bank's complaints procedure.  The Ombudsman has said it is willing to look at claims where an individual believes bank charges to have been imposed unfairly.

If you would like further information on the above, or if you have any un-manageable debt, give Advice4debtNI a call on 0800 917 4607 for free, independent, confidential advice