Banking News Want To Reclaim Bank Charges Let Fairinvestmentcouks New Calculator Do All The Hard Work For You 2658
Want to reclaim bank charges?
16 December 2008 / by Rebecca Sargent
If you think you may be a victim of unfair bank charges, you will want to claim your money back, but may not know how much you might actually entitled to, and that’s where Fairinvestment.co.uk can help!
Today, Fairinvestment.co.uk launches its brand new bank charges calculator, which works out the interest on your charges so you can see how much you could potentially get in compensation!
The bank charges issue has been raging on for more than three years now, and is getting more complicated by the day, so victims need all the help they can get.
The current situation is that the OFT is allowed to assess bank charges for fairness, as ruled by the High Court in October, but the banks are appealing against this decision, which is holding up the whole process.
However, even though the banks’ appeal has halted the case for now, if you have been a victim of unfair bank charges, you can still make a claim which will be dealt with after the appeals process – thought to be early in 2009 – and, if you are deemed to be in severe financial hardship, your bank must deal with your claim now.
The new bank charges calculator is easy to use – all you need to do is fill in the details of your charges – the amount and the date they were received – and the calculator will work out the interest that has accrued, giving a grand total in no time and saving the hassle of time consuming sums.
Once you have worked out how much you could potentially get back, you can use Fairinvestment.co.uk’s ‘no win no fee’ reclaiming bank charges service to get your money back.
All you need to do is fill in one simple form and you will be put in touch with a team of experts who will take on your case, dealing with all the legalities, in order to get back the money that is rightfully yours.
Speaking of the new tool, Fairinvestment.co.uk’s chartered financial planner Sharon Bratley said: “We have decided to launch this tool to make it easier for people wanting to reclaim their bank charges and for them to get the interest on top of the charges.
“By adding the interest on, the calculator saves time and effort and helps ensure that those making a claim see how much potentially they could receive back, inclusive of interest.
“Unless the appeal from the banks is successful in the bank charges test case, the hold on processing claims looks set to be lifted in January, so now is the perfect time for people to get together all their documents and prepare an accurate claim.
“Although the case is dragging on, it is looking hopeful for those who have paid charges that are over the top compared to what it costs a bank to actually deal with a default.
“The OFT set the £12 guide with credit card charges and could soon do the same with bank charges that can be as much as £35 when it costs banks an estimated £2-£4 to deal with the problem.
“Hopefully the calculator will take some of the stress out of reclaiming charges, which is what we are aiming for. We want to make it easier for people to reclaim what is morally theirs, including interest. Once people know exactly what they want to reclaim they can use our free service to reclaim bank and credit card charges as soon as possible,” Mrs Bratley concluded.
Use the Fairinvestment.co.uk bank charges calculator today »