Many thousands of people in the UK are finding that they are able to reclaim their bank charges. The Office of Fair Trading has ruled that charges should be proportionate to the amount of extra work that the bank has to carry out, for instance if a cheque bounces. Some banks charge up to £30, but the OFT are saying it should be no more than £12 per item.
What to do?
Get details of all your bank charges for the last 6 years
If you don't have the records, send the bank £10 for a full list
Write to your bank asking for a refund
Some pay up straight away, others only pay when threatened with court action
More info at www.coolblue.org.uk