Claim Back Bank Charges

Each year, banking institutions generate over L5bn in revenue from fees collected through authorised and unauthorised overdraft facilities. Consumers depend on banks as a mediator to their finances, but unfortunately, a hidden agenda of the banking system places them in the crossfire of out of control charges and fees that are inflicted upon them daily. During a period when the global economy is already collapsing, this is certainly not a favourable banking practice.

Unauthorised Overdrafts
The biggest issues facing banks is the unauthorised overdraft, a term used by banks to define an overdraft service. It is a term that is favourably used by banking establishments describing a fee that is imposed on a customer when they have overdrawn from their account. Authorised or unauthorised, the same penalty is imposed, but with a different name – perhaps it is called an “overdraft fee” when it is authorised. It is assumed by the consumer that a certain amount of time will lapse before a transaction is cleared – usually 2-3 days. It is assumed by the bank, that the consumer will make that very assumption, but the transaction clears before that time, the money is not available, then the unauthorised (or authorised) overdraft fee is imposed. What a vicious cycle of events!

Restitution For Unfair Banking Charges
After the courts have examined “test cases” and have thoroughly defined charges, fees, and unfair banking practices, the UK court of law will be able to rectify the unfair banking issues you have experienced. It is in the best interest of both the banks and the consumer to offer ample opportunity for the banks to examine and reorganise its banking practices to allow a foul banking system to correct the problems it is facing on its own.