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PPI Claim News - 17/3/2010

Bank Charges are stinging UK businesses

Britain's banks are springing excessive bank charges onto smaller businesses for basic services, new research shows.

An investigation by the Daily Mail's Money Mail uncovered a magnitude of "sneaky" bank charges have been imposed on UK firms over the past two years.

These included higher-level one-off fees for lending, raised loan charges and loan rates and increased monthly fees for current accounts, the news provider reports.

In addition, it found that ten per cent more applications for loans were being turned down by the banks, contrary to the sector's proclamation that it is committed to lending to smaller companies.

Commenting on the research, the Daily Mail said: "Many of the increases we have uncovered, using data supplied by Moneyfacts, appear tiny. But cumulatively, they can have a major impact on a struggling small firm."

It Is not just UK businesses that are being stung be the banks however.

Westminster's Scottish Affairs Committee recently slammed the taxpayer-funded banks for using "aggressive tactics" to force "unsuitable" products, such as loan insurance and credit card payment protection insurance, onto customers.

Belmont Thornton can help you make a PPI claimPayment Protection Insurance Claim, or a credit card charges claim. For free PPI Claim advice call 0845 526 0000 or fill in the Quick Claim box to be sent a PPI Claim pack or credit card charges claim pack.ADNFCR-2776-ID-19674793-ADNFCR

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