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How to reclaim unlawful bank charges?
By Banker | February 1, 2009
Banks lose a lot of money owing to various credit defaults. To compensate for it, they levy many subtle charges on an unsuspecting payer. This can be interest on credit card overdue, Interest on card figures unpaid past due date, Interest on failed loan payments, bounce charges from both sides, (lending agency and bank which is the ECS clearance system), and late fee on various grounds and so on.
In few of such transactions, banks exploit us within the legal perimeter. At some places, banks play it shady knowing that a layman cannot have such great banking know-how.
You can write to a bank and ask for a waiver. This is after you telephonically request to do so. Next, you can look to intimidate them with account closure. Most banks would agree to you if you have the right set of negotiating skills. As a last resort, you can also threaten with the grievance cell or consumer court. Prior to applying the last process, make sure that you are completely on the correct side.
Topics: Bank / Finance Charges | 1 Comment »
February 15th, 2009 at 5:03 am
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