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