| Claiming back your charges: Why it is important not to | | | | accepted so that the matter could be buried under the |
| accept anything less than everything. | | | | carpet. Of course in some cases, the banks would |
| The High Court test case may have given the banks | | | | simply reject the complaint hoping that the customer |
| some time to get themselves organized for a potential | | | | would just put the letter away in the kitchen draw and |
| flood of claims but consumers who already claimed | | | | forget all about it. After all, would an old age pensioner |
| compensation are starting to realize that they | | | | want to continue fighting a large financial organization |
| accepted offers well below what they were entitled | | | | with the fear having the case ending up in the courts? |
| to. | | | | For those who did manage to get some positive |
| Millions of consumers who demanded refunds for bank | | | | response from their banks, have already accepted |
| penalty charges from their banks or building societies | | | | paltry offers of compensation without fighting further |
| used standard complaint letters hoping that it would | | | | and perhaps carried a heavy heart filled with |
| result in a decent and fair payout. In most cases, a | | | | desperation to simply get something back. In some |
| letter of complaint would be sent asking for a refund | | | | cases the offers were less than 50% of the amount |
| of all penalty charges imposed for returned debits, | | | | owed. The banks have had the last laugh in those |
| bounced cheques and exceeding overdraft limits. The | | | | cases. Accepting low offers in full and final settlement |
| banks compliance officers, who are handsomely paid | | | | unfortunately has left many people with goodwill |
| to defend claims, would often respond with an offer | | | | payments that are extremely short of the mark. |
| which was less than half way, hoping that it would be | | | | |