Banks do not give clear information to consumers regarding credit card charges when they use their banks abroad, but this should soon change.This is according to a spokesman from the Office of Fair Trading (OFT), who told the Scotsman the industry has agreed to make significant alterations in this area, following an investigation into the practice the public body conducted last year.Members of the public will be better informed of any bank charges they incur when they spend money abroad, the representative added."Consumers should see the benefits of this work during 2012," he continued.A spokeswoman from Consumer Focus Scotland pointed out to the publication that people do not wish to return from holiday to view a "raft of transaction charges on their bank account".Any fees financial institutions impose on their customers have to be "absolutely transparent and fair", she argued.OFT chief executive John Findleton had previously asserted banking companies ought to earn their profits through providing high-quality, good-value services, instead of through these credit card charges.Jennifer HainesJennifer's speciality knowledge is credit card changes and balance transfers.
Belmont Thornton Ltd. is regulated by the Ministry of Justice in respect of regulated claims management activities; our registration is recorded on the website www.claimsregulation.gov.uk number 18273
Belmont Thornton Ltd. is incorporated in England and Wales, Company number 6621233, whose head office and registered office is at Suite 2, Unit 25, The Coda Centre, Munster Road, London, SW6 6AW. VAT Registration number 945 3375 06.
Belmont Thornton Ltd is registered with the Information Commissioners Office to ensure compliance with the Data Protection Act 1998 registration number Z1728023 and holds a Credit Consumer License issued by the Office of Fair Trading license number 634655.
Please note that calls may be recorded and email traffic monitored for the purposes of security and staff training.
* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.