Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News - 25/2/2010

Credit Card Charges: Banks will find new ways to 'recoup' consumer cash

Banks will look to new ways to "recoup" financial losses if excessive overdraft charges are dropped, a financial expert has claimed.

Andrew Hagger, spokesperson for financial advice website Moneynet, said consumers should not be too optimistic about a potential decline in charges for overdraft loans.

His comments come after a client of the Govan Law Centre in Scotland won the right to challenge the Bank of Scotland's overdraft charges under the Consumer Credit Act.

"The hope is there because the challenge has been raised. But as for the people concerned, I am not overly optimistic for their success," he remarked.

"This is a potential outcome that we have talked about. If in the future the fees get cut back then the banks will look to other areas to recoup that money and charge customers for their services. This is still a possibility."

Earlier this week Moneynet revealed that the average authorised overdraft interest rate has increased by as much as ten per cent over the past two years, reaching 15.32 per cent in February 2010.

Belmont Thornton can help you make a PPI claimPayment Protection Insurance Claim, or a credit card charges claim. For free PPI Claim advice call 0845 526 0000 or fill in the Quick Claim box to be sent a PPI Claim pack or credit card charges claim pack.ADNFCR-2776-ID-19636217-ADNFCR

Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Post Code 
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B11, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide