Law On Bank Charges

There is no set law on bank charges as yet, but due to the charges being incongruent with the actual costs faced by banks for things such as bounced cheques and unauthorised overdrafts, they have been deemed unfair and unlawful by The Office of Fair Trading. As a result, many are now claiming them back, which you can do in one of several ways, including:

Using an intermediary company that will claim back the bank charges on your behalf; such companies will give you advice and represent you if it cannot be settled out of court.
Writing to your bank to request a list of the charges and ask that they be refunded to you. If this fails, write again to inform them that you are willing to take the case to a small claims court.

The best way could be to go through a company, as they have agreements with the banks which can speed up the process of you claim, while also increasing the likelihood of its success.

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