Illegal Bank Charges

Illegal Bank Charges are high and unlawful fees charged by banks to their customers on their credit cards or when they go overdrawn on their accounts. In April 2006, the Office of Fair Trading (OFT) announced that many banks had been charging their customers unjustly, saying that "card default charges have generally been set at a significantly higher level that is legally fair." The OFT claimed that banks had profited from illegal bank charges to the tune of more than £300million a year.

How to claim back your illegal bank charges

The OFT branded charges set at more than £12 as unfair and said a default charge should "only be used to recover certain limited administration costs". If a bank cannot justify its costs, customers can reclaim the illegal bank charges they have paid over the past six years through:

Requesting a list of charges from their banks
Making a claim that these were illegal bank charges
Raising a court summons

Many of the companies have special agreements with all the major banks which allows them to fast-track claims and in most cases, reclaim the funds out of court

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