Is it possible to make the bank to change the mortgage contract?

I got a mortgage few years ago. as most people at a time i had very little idea on the types of mortgages etc. obviously i got a bad deal. two years ago i did some research and learned that it is possible to reduce the lenght of mortgage making more frequent payments (but paying the same amount overall). I started making weekly payments instead of once a month. however to my horror i recently learned that according to my contract interest is accrued daily and only applied towards my mortgage quarterly. i am not an accountant but it is quite obvious that the bank is holding on to my money / getting all these payments in advance and only once in three months applying the aculated money towards the mortgage. Even in the case of making monthly payments this is not right. does anyone know whether there would be any hope in escaping this situation? or is it completely pointless to fight the bank?