Why not let Mr. Brown and Mr. Blair now we aren't happy with excessive and unlawful bank charges. With enough support we can make a real change. Sign the Government Petition NOW
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Why not let Mr. Brown and Mr. Blair now we aren't happy with excessive and unlawful bank charges. With enough support we can make a real change. Sign the Government Petition NOW
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Unfair Bank Charges - Did you know..
Banks are making billions of pounds each year from unfair penalty charges. But now the legality of these unfair charges - which cost their customers an average of £30 a time - is being called into question and thousands of customers are getting their money back. In 2005, the top six High Street banks in the UK made an estimated £4.5bn from penalty charges. These are charges that are incurred for unauthorized overdrafts, bounced cheques and clearing Direct Debits when there are insufficient funds in the account.
The Legal Position It can be argued that under the Unfair Terms in Consumer Contracts Regulations (1999) all penalty charges have to truly reflect the cost of administering them. They are not permitted to be a profit-making enterprise for any business. He believes if a penalty charge is higher than its administrative cost, it is illegal. This includes banks, credit card companies, money lenders and mortgage lenders
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