Bank Fees

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Bank fees are charges implemented by your bank if you go outside the agreed terms of contract, i.e:

Your go over your overdraft limit
You write a cheque that bounces
You go over the agreed credit on your credit card
You fail to meet credit card payments
You don't have enough money to cover direct debits

Although these all are a breach of contract and the bank is justified in implementing a charge, the law states that the amount charged should reflect the costs it has incurred – i.e. the cost of writing and sending a letter – and should not make any profit.

Banks had been charging an average of £30 for the various breaches, and in April 2006, the Office of Fair Trading branded these charges as 'unfair'.

We can put you in touch with Claims Financial, a company that specialises in reclaiming unfair bank charges, providing: