The interest is fairly complicated to work out, as its applied separately to each charge, going from the date that each charge was levied.
I have a spreadsheet on my site that you can download, and put in the charge details and date the charge occured, and it will automatically calculate the interest for you! Everything is described in detail, to make sure that you get everything correct for your claim.
It also has template letters for each stage of the claims process, as well as detailed guides to every step. There are also forums for one to one advice, and the latest bank charge news and developments. For when its time to file your claim, we have a detailed guide to using money claim online which is unique to the site.
We have helped a number of people to claim their charges back themselves, and we could help you too!
Different banks will calculate their interest in different ways. Whilst some of the calculators can produce a rough guide, they may suffer a little from the precise calculation that is used by an individual bank.
You can make a request under Section 12 of the Data Protection Act for the bank to reconsider automated decisions. In this case it would be how interest was calculated. They are required, within 21 days, to inform you of the revised decision and the method by which it was calculated.
I have used this method twice, the first time resulting in a small adjustment in my interest, the second is due to arrive in the next few days!
Direct your request to the Data Controller at the bank and make clear the section of the DPA the request is being made under and the part of the automated decision (interest calculation) you want reconsidered. The bank is then obliged to provide you with this information.
Good luck!
The wording I have used in my letters is:
I am making a formal request under section 12 of the data protection act.
This section gives me the right to request that you reconsider automated decisions and provide me, within 21 days, the basis upon which that decision will be reconsidered. In this case I require the decision relating to the interest payable during 2005, 2006 and 2007 to date to be reconsidered.
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The interest is fairly complicated to work out, as its applied separately to each charge, going from the date that each charge was levied.
I have a spreadsheet on my site that you can download, and put in the charge details and date the charge occured, and it will automatically calculate the interest for you! Everything is described in detail, to make sure that you get everything correct for your claim.
It also has template letters for each stage of the claims process, as well as detailed guides to every step. There are also forums for one to one advice, and the latest bank charge news and developments. For when its time to file your claim, we have a detailed guide to using money claim online which is unique to the site.
We have helped a number of people to claim their charges back themselves, and we could help you too!
The site is completely free to use!
Different banks will calculate their interest in different ways. Whilst some of the calculators can produce a rough guide, they may suffer a little from the precise calculation that is used by an individual bank.
You can make a request under Section 12 of the Data Protection Act for the bank to reconsider automated decisions. In this case it would be how interest was calculated. They are required, within 21 days, to inform you of the revised decision and the method by which it was calculated.
I have used this method twice, the first time resulting in a small adjustment in my interest, the second is due to arrive in the next few days!
Direct your request to the Data Controller at the bank and make clear the section of the DPA the request is being made under and the part of the automated decision (interest calculation) you want reconsidered. The bank is then obliged to provide you with this information.
Good luck!
The wording I have used in my letters is:
I am making a formal request under section 12 of the data protection act.
This section gives me the right to request that you reconsider automated decisions and provide me, within 21 days, the basis upon which that decision will be reconsidered. In this case I require the decision relating to the interest payable during 2005, 2006 and 2007 to date to be reconsidered.
There charges to you - interest charges will show on your banks statements.
http://www.moneysavingexpert.com/cgi-bin/viewnews....
follow this link and on this site there is an interest calculator, you put in the date and the amount the charge was and it works it out.
It will put it all on a table for you ready to print out and send to your bank.
I was successful in my claim good luck.
ps you will need to follow the instructions to get to the calculator but it is there i promise.
go to www.moneysavingexpert.com
that site got me all my charges back. they have a template for those claiming with interest and those claiming without.