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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 £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 £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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