How To Claim Unfair Bank Charges
PLEASE NOTE: The battle between the banks and their customers is now heading to the High Court. The Office of Fair Trading and the banks have agreed to a test case to determine the legality of bank charges. It will be heard early in 2008. The banks have been given a waiver and do not have to deal with claims until after the test case has been resolved. Currently, few courts are prepared to consider claims until after a verdict. However, customers can still register their complaint with their banks if they so wish.
(Source: www.bbc.co.uk)
On 5th April 2006 the Office of Fair Trading (OFT) identified many bank and credit card charges to be unfair and unlawful. By law any charges banks impose on their customers must be in proportion with the actual costs they incur, does it really cost in excess of £30 to send a letter if you go over your overdraft limit?
What does this mean for YOU?
For years banks have been charging an unfair amount and now something can be done about it. You could be legally entitled to reclaim your unfair bank charges for the past 6 years (5 years in Scotland).
Whether this is:
- unauthorised overdraft fees
- bounced cheque fees
- refused direct debit
- refused standing order fees
- late payment fees on credit and store cards
- penalties on delayed mortgage payments
To put this in perspective, even with only one charge every few months, you will be surprised to learn just how much your bank has charged you over the years.
You can download the relevant letters to send and deal with the claim yourself from various websites. Here are a few websites we have found that you may find useful:
For free advice on the best solution for you contact us
Consumer Credit Licence Number - 595572
Data Protection
Number - Z9785048
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