We all know that Bank Charges are ridiculously extortionate. In the past and in some cases now Banks could charge you absolutely any amount for an overdrawn limit here and a missed payment there. Charges can happen at the worst of times, sometimes unbeknownst to you, until the spiralling situation causes charge after charge after charge...
After the reclaiming charges boom many years ago, the laws were examined and there was a time when it looked like extortionate bank charges were going to become a thing of the past. A study was done to examine a new potential law called "Unfair Terms in Consumer Contracts Regulations" but it has not to date been passed successfully. However, if you are shopping around for a new bank account you will see that charge rates vary greatly, so it is possible to get a really good deal out there that might not have you paying through the nose on any potential bank charges.
Reclaiming Bank Charges
Reclaiming Bank Charges isn't as easy as it used to be, but still not impossible. The best thing to do if you are eligible for a bank charge reclaim is to contact your bank by telephone or by means of a written letter. You may be offered a full or partial refund. If the bank do not help in any way or if they reject your claim, you should complain to the Ombudsman.
Contact Debt Advice
If your debts are getting too much to handle get in touch with us at Debt Advice as soon as possible. Our advisors will be happy to help. You can ask a question instantly online or fill in the form on this page and one of our debt advisers will be in touch.
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