In the United Kingdom, bank charges, also called penalty charges, are made against people's credit card, store card, bank and some other accounts for going overdrawn or bouncing (failing to pay) a direct debit, cheque or standing order amongst others.
The practice of imposing these charges has become controversial in the UK, with customers and consumer watchdog groups claiming that the charges are much higher than allowed by law.
In one case alone, a businessman successfully reclaimed about £35,000 from his bank.
After considerable press coverage of the issue and the efforts undertaken by some people to recover overcharges, thousands of people are claiming the charges back plus a statutory 8% interest.
Consumers and businesses alike are suing banks and credit card companies in the small claims courts in Scotland, Ireland, England and Wales.
01/06/2009 06:27 PM
All the paperwork is ready for submission to the UK Embassy in Manila, including my last 6 months payslips and Bank statements. Due to personal and financial problems three years ago, I took out a Trust Deed (an IVA) and this will come to and end in February. MY Finances, since
01/07/2009 06:00 AM
How to save a quick buck Most people don't really think about specific bank charges,... How to save spans of cash on emailA very small part of...
01/07/2009 07:14 AM
FHA can charge up to eight thousand, three hundred and forty bucks, while the bank charges as much as six thousand for origination.
01/06/2009 04:30 PM
...what is the easiest way to reclaim bank charges?? any advise woukld be appreciated:eek:
01/07/2009 07:59 AM
Ive recently been charged left right and centre by Barclays, £22 fees and £8 Fees. Can I still claim these back or have I got no chance?
01/06/2009 01:49 PM
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01/06/2009 11:52 AM
Its first campagin looks at unjust credit and bank charges. I have posted the Press Release below and would apprciate any feedback.
01/06/2009 05:00 PM
...planPrepare FX currency hedging plan for management reviewNegotiate the FX rates and bank interests/charges with various banksPeruse Tra...
01/06/2009 08:32 PM
A California man who police say robbed a Mountain Home bank a month ago has been arrested on drug charges after a traffic stop in Arkansas, according...
01/06/2009 08:13 PM
the John Galt Corporation, the subcontractor responsible for demolition and asbestos abatement at the former Deutsche Bank building, was indicted for stealing $1.2 million.