Many banks get all clear over bank charges

Following recent hearings in the next stage of the overdraft bank charge High Court case, many of the UK’s banks have received a clean bill of health from the presiding judge, who has said that most customers will not be able to use the law to challenge the terms that the banks in question have used. However, he has not given the all clear to Intelligent Finance or NatWest. And is still looking at the terms laid out by these banks. Read more

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Prospect of monthly bank charges unpopular with consumers

According to a recent report the vast majority of consumers do not want to see the introduction of monthly banks charges even if it means that there will be a fairer system in place with regards to penalty fees for unauthorised overdraft use, bounced cheques, and returned direct debits. Research was recently carried out by MoneyExpert.com, and showed that nearly 60% of consumers did not want to see monthly account fees brought in even if there were caps placed on penalty fees. Read more

Tags: United Kingdom, office, OFT states, notice, presiding judge, recent announcement, year, bank charges