How to Claim Bank Charges Back
Within the past several years an increasing number of UK financial institutions have come under fire of consumer watchdogs including Citizens Advice Bureau (CAB) along with the Financial Services Authority (FSA) for mis selling loan insurance and other investment products. In January of this year, Barclays was fined an amazing £7.7 million for misselling risky investment products and as recently as May of this year the Bank of Scotland was fined £3.5 million for the same misdeeds. Having come under such close scrutiny, it is a wonder that most High Street banks continue to mis sell payment protection insurance (PPI) which has caused many UK consumers to question how to claim bank charges back.
Investigative Reporters Go Under Cover
In mid June, investigative reporters from Panorama went undercover to see whether or not these same high street banks have indeed learnt their lesson in terms of misselling PPI. Because there is still an incredibly large number of individuals looking at how to claim bank charges the reporters decided to pose as potential borrowers. The results weren't pretty and the lenders investigated showed their true colours to the British public as the programme aired on the BBC. Whilst the reporters brought to light how the PPI racket is still rampant in the UK, they did not seek to provide any answers on to how to claim bank charges back.
Where Can You Find the Answers You Are Looking For?
Although it helps to know that bankers, amongst other lenders, are still making a profit off misselling loan protection insurance, that doesn't give consumers the solutions they need in understanding how to claim bank charges to get a refund of the PPI money they were misled into paying. There is a copious amount of information on the CAB and FSA websites as well as on the Financial Ombudsman Service (FOS) site as well. One thing you will find in common is that government is endorsing third party representatives like Belmont Thornton in terms of providing valuable information and services in relation to showing consumers how to claim back bank charges.
So Much Money - So Few Covers
Perhaps the biggest issue with mis sold loan insurance isn't even the cost, which is totally disproportionate to any benefits the cover purports to provide. It would be one thing if more than the estimated 13% to 15% of all people qualified for benefits, but since they buy the insurance and can't collect, most policyholders are looking at how to claim bank charges to get their money back. If the lenders hadn't misrepresented cover, or would have explained the cover better, most consumers say they would not have purchased loan insurance.
If you are looking for sound advice on how to claim back bank charges, call the claims team at Belmont Thornton, Belmont Thornton. We work on a no win no fee* basis and your initial consult is free. Within a day your claim packet can be in the mail and you will be on your way to claiming back money that should never have been taken from you. Call 0207 471 2000 or fill out the online contact form for a call back, but in any case, talk to our knowledgeable claims team to learn how to take back mis sold PPI bank charges.
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