Critics and customers say that the charges enforced by banks for exceeding your overdraft limit or bouncing a cheque are unfair because:
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Banks are only allowed to charge enough to reasonably cover the administrative costs involved.
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The charges are disproportionate – it does not cost £30 to send a letter informing someone that they have become overdrawn.
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In accordance with the Office of Fair Trading, these charges are unlawful and banks have collected more than £5billion a year from doing so.
With the Office of Fair Trading branding charges of more than £12 charges as being of a "significantly higher level that is legally fair," many people are starting to claim back their money.
We can put you in touch with Claims Financial, a company that specialises in reclaiming unfair bank charges, providing:
- A No Win No Fee Service
- Expert friendly advice
- Handling your case from start to finish
Using an intermediary company can increase your chances of success and fast-track your claim because of the deals that such companies have with the banks.
Find out how to claim back unfair bank charges