Dec. 8, 2006 – UK BANKS have long been accused of ripping off customers with the high charges they impose for minor account problems. Complaints against banks rose by 50% to 3,500 last year, according to the Banking Code Standards Board, with most about interest rates and unfair charges.
In June 2006 Which? Calculated that bank customers pay £4.7 billion each year in default charges!
On 5 April 2006, the Office of Fair Trading (OFT) concluded that default charges over £12 are automatically presumed to be unfair in terms of the Unfair Terms in Consumer Contract Regulations. Unfair terms are legally unenforceable.
Charges below £12 may also be unlawful – the distinction is that the OFT will only take enforcement action for charges above that figure.
Banks told the Treasury Select Committee last year that they had to pay for pursuing and collecting debts, speaking to customers and chasing payments. The fees charged to customers were decided by totaling all of these costs and then making assumptions about the number of customers that are going to incur charges during a specified time period.
Therefore, customers can argue that the charges applied to their accounts do not reflect the actual cost of running the account, but are a method of recovering global losses on personal banking. Banks can only impose charges, which are in proportion to their costs.
If the banks costs are not proportionate then it’s unlawful, and therefore you have the right to ask the bank for your money back.
With this in mind BankChargeRefunds.com have put together a Do-It-Yourself Bank Charge Claims pack to enable the 1000´s of UK bank customers to request their money back from the banks. All of the necessary information including a step-by-step guide, information about why this is now possible, details about the letters that need to be sent, 3 letter templates and a frequently asked questions are all included as part of the pack. All the information has been put into a simple and clear format making the process of claiming your bank charges back much easier. There are now companies offering Bank Charge Claims services but they will take a % of your claim in commission – so why not do it yourself?
The DIY Bank Charge Claims Pack costs a mere £12.95 and BankChargeRefunds.com are so confident about the DIY pack that they offer a full money back guarantee – if your bank does not owe you more than the cost of this pack (£12.95) or you are unsuccessful in making a claim by following the step-by-step guide and sending all of the letters then they will give you your money back.
For more information about Unfair Bank Charges and how to get them back or to download the Bank Charge Claims Pack please visit: www.BankChargeRefunds.com
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