The Sports Trader had a lot of non trading things to do today which severely impacted on the time I could spend trying to make a living. I also had my Sister-In-Law, Angela, come round for dinner tonight so I had no time to trade this evening. I therefore only traded in 5 horse races but had no losses.
My first trade was in the 13:50 at Chester and resulted in a small profit. My only significant result was in the 14:50 at Chester where I backed Soldier of Fortune for £300 @ 1.11 just approaching the finishing line to result in a profit of £33. I followed up with 3 more small winning trades.
That was that, I finished the day with a profit of £43.
I have had several emails about my blog entry on Tuesday regarding claiming back bank charges so I thought to make life easier for anyone thinking of making a claim I would put together a list of the things you need to do in order to get some of your hard earned back.
To claim bank charges in the UK is very easy and quite cheap. No person has failed to win their case to reclaim their bank charges from any bank. I have listed the order in which you should claim and, at each step, links to the necessary letters you will require to send. I do urge you to read through the Consumer Action Group website for more details as people are finding even faster ways of claiming their money back.
1) Send a Data Protection Act Subject Access Request letter. This should be sent to your banks head office or any other address listed in the main forum highlighted above, and is simply your request for a list of all charges made to your account over the last 6 years which seems to be the longest period that you can normally claim charges from.
2) Send a Preliminary approach for payment letter to your bank. This is your request for the amount of bank charges and any overdraft interest charges due to these bank charges and is calculated using the reply you had from the previous letter.
3) Send a Letter Before Action letter. The bank will either blank you on your previous letter or tell you that you had signed up to terms and conditions when opening your account that clearly set out the charges you would incur for not running your account properly. Always remember Do not be fobbed off or scared off by your bank, they will pay you all your bank charges along with any interest incurred plus the interest that you would have earned on the money that they have stolen from you.
4) Complete Form N1 that you can get on line or from your local court with the details in this letter. Include your fees for the small claims court.
5) Use this interest calculator to work out the statutory amount of at 8% that you can claim for all charges that have been taken from your account.
6) Wait for a date to be set by the court and expect to be paid before the court date as NO BANK has yet gone to court as they are scared of a precedent being set whereby they would have to return all illegal penalty charges to all customers.
There are other things to consider like for instance in my case we live in Scotland and had a large sum to reclaim but the small claims limit in Scotland is only £750 / claim, so rather than make several claims (which I understand can not all be made at the same time therefore you could be claiming over a long period of time) we elected to claim in an English court as anyone can as long as they have some form of correspondence address that can be used in England.
Comments