Consumer Action Group: People should reclaim overdraft charges
May 7, 2008 by admin
Filed under News, News-Banking
Many people seem unaware that they can reclaim unfair bank charges, which may be leading them into greater financial difficulty, says the Consumer Action Group.
Founder of the group, Marc Gander, has said that British people often feel a sense of responsibility if they receive bank charges, however these fines could actually be unlawful.
The Office of Fair Trading (OFT) recently won the right to investigate whether overdraft charges by banks are excessive, following a court case in which banks argued that the OFT does not have jurisdiction over the matter. The banks have until May 22nd to appeal the ruling.
According to the BBC, banks refunded about £784 million to nearly 378,000 customers last year.
Mr Gander said that consumers “shouldn’t feel blameworthy, they shouldn’t feel responsible, because it’s the banks that have caused this by levying what we think are unlawful charges”.
He advised consumers to start claiming immediately if they feel they have been unfairly charged.
