Bank Charges 2011
Over the years the reputations of banks in the UK has suffered. With huge losses
and mis-sold Loan protection insurance
many people are angry that their behaviour does not seem to have been brought to
account. In 2006, though, the charges applied by credit card poviders for late
payment and over the limit fees were investigated by the Office of Fair Trading.
Bank Charges 2011 lower than 2006
Credit card companies and banks had always attempted to justify the cost of late
payment and over the limit charges by saying they were necessary to cover costs
incurred. The Office of Fair Trading Investigation considered the true cost of
administrating accounts. They decided a maximum charge of Â£12 should be applied
where a customer made a late payment of exceeded their limit. This figure took
into consideration the cost of staffing, pastage and some contribution to IT
systems. As a result of the investigation most lenders lowered their charges to
Â£12 and it also opened the door to people who had paid unfair charges in the
past to make a claim.
Can you still reclaim Bank Charges 2011?
The simple answer is, yes. You can reclaim any unfair charges applied within the
last six year. If you have paid unfair credit card charges for late payment or
over the limit fees in the past, therefore, you may be entitled to make a claim.
If your claim is successful, you can ordinarily expect to receive a refund of
those unfair charges and sometimes additional interest.
Starting my bank charges 2011 claim
If you have paid unfair over the limit or late payment fees or have been mis-sold loan insurance
you have the right to make a claim. For assistance with your claim call 0207 471 2000. A
member of the claims team will be happy to answer any questions you have and to help you get started on filing your claim today.
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