| Bank charges for unauthorized overdrafts, | | | | can ask the bank to refund the charges |
| bounced cheques and returned direct debits | | | | voluntarily. I have yet to find a single case |
| are those 'damages'. Bank charges to | | | | of somebody in such circumstances who does |
| customers were arrived at by totaling these | | | | not tell me that they had been hit by bank |
| costs and then making assumptions about the | | | | charges. This has led to thousands of people |
| number of customers that are going to incur | | | | taking on their banks and claiming back bank |
| charges. Bank charges for going overdrawn or | | | | charges over the last 6 years. The campaign |
| for bounced cheques are the equivalent of a | | | | to reclaim unlawful bank charges is the |
| charge for breach of contract, known as | | | | biggest consumer revolution for years. |
| liquidated damages, and the courts can | | | | |
| enforce payment. So, how do you go about | | | | Charges against the banks |
| getting the bank charges back. There are only | | | | |
| two bank charges cases known about in which a | | | | Complaints against banks have soared, |
| bank has gone to court, defended its charges | | | | according to the Banking Code Standards |
| and won. You can claim back any unfair bank | | | | Board, with most about interest rates and |
| charges, which the law would class as a | | | | unfair charges. The bottom line is, ensure |
| penalty, that you have accrued over the last | | | | you make it clear that you're using the Data |
| 6 years. The true costs of these so called | | | | Protection Act to request of list of charges. |
| bank charges to date have not been proven any | | | | The issue here is whether banks charges are |
| more than a few pounds. | | | | allowed under your contract with the bank or |
| | | | whether they are really penalty charges. |
| Claiming back your unfair bank charges can be | | | | These are charges that are incurred for |
| a long and drawn out process, with the banks | | | | unauthorized overdrafts, bounced cheques and |
| doing everything they can to delay you | | | | clearing Direct Debits when there are |
| receiving back your unfair bank charges in | | | | insufficient funds in the account. Various |
| the hope that you give up claiming back your | | | | laws mean that the banks cannot enforce such |
| unfair and illegal bank charges. An example | | | | charges legally. Complaints against bank have |
| of this could be perhaps if a customer is a | | | | soared, according to the Banking Code |
| day late making a payment, even if the | | | | Standards Board, with most complaints about |
| customer has been with the bank for 20 years | | | | interest rates and bank unfair charges. The |
| and never missed a payment they will still | | | | Office of Fair Trading has thrown out |
| incur the dreaded bank charges. The Office of | | | | suggestions that current account holders in |
| Fair Trading has already forced credit card | | | | the UK will face bank charges of around |
| companies to slice maximum fees to £12, | | | | £300 if banks are forced to scrap their |
| and a ruling on bank charges is imminent. If | | | | controversial penalty charges and that has to |
| you've been hit by default bank charges, you | | | | be good for the consumer. |