QUESTION: Who wants to be a bank charge billionaire?Answer: Our friendly high street banks - at your expense!
Nearly 19 million people have been hit by bank charges totalling a massive £4 billion – and over half have still not claimed the money back.
Despite the furore over the unscrupulous banks gathering pace, customers have been slow to react. Only one in ten appear to know what they are entitled to claim and, despite widespread condemnation, greedy banks are still clinging to £2.12 billion of unfair charges.
But this money is not lost. “The majority of banks are bending over backwards to refund bank charges to consumers that fight back,” says Nick White of uSwitch. “This is because they’d rather settle now than have to appear in court for a damaging test case which would set a dangerous legal precedent.”
For just £10, customers can request copies of previous bank statements and write to their bank to reclaim charges incurred over the last SIX years – with 8% INTEREST.
Act now.Customers looking to claim are perfectly within their rights. Last April, the Office of Fair Trading (OFT) said charges being levied on customers were excessive. Since its announcement it's been inundated with 5,000 complaints a day.
Banks argue it is only the high charges for overdrawn customers that’s allowed them to stick with ‘free banking’. With millions now claiming their money back, monthly or ‘pay as you use’ charges for current accounts appear imminent.
If customers are forced to pay for the 'luxury' of a simple account, four in five said they would look to switch, despite most of them being with their banks for over 20 years.
The unfair charge debate looks set to spark a revolution. Stick with Sun Money to guide you through.
Nearly 19 million people have been hit by bank charges totalling a massive £4 billion – and over half have still not claimed the money back.
Despite the furore over the unscrupulous banks gathering pace, customers have been slow to react. Only one in ten appear to know what they are entitled to claim and, despite widespread condemnation, greedy banks are still clinging to £2.12 billion of unfair charges.
But this money is not lost. “The majority of banks are bending over backwards to refund bank charges to consumers that fight back,” says Nick White of uSwitch. “This is because they’d rather settle now than have to appear in court for a damaging test case which would set a dangerous legal precedent.”
For just £10, customers can request copies of previous bank statements and write to their bank to reclaim charges incurred over the last SIX years – with 8% INTEREST.
Act now.Customers looking to claim are perfectly within their rights. Last April, the Office of Fair Trading (OFT) said charges being levied on customers were excessive. Since its announcement it's been inundated with 5,000 complaints a day.
Banks argue it is only the high charges for overdrawn customers that’s allowed them to stick with ‘free banking’. With millions now claiming their money back, monthly or ‘pay as you use’ charges for current accounts appear imminent.
If customers are forced to pay for the 'luxury' of a simple account, four in five said they would look to switch, despite most of them being with their banks for over 20 years.
The unfair charge debate looks set to spark a revolution. Stick with Sun Money to guide you through.
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