10 Steps to Reclaim Unfair Bank Charges

Banks in the UK, including all of the high-street banks and big names, have imposed unfair charges on millions of people across Britain. Many of these unfair bank charges have been levied on students who are often severely affected by such charges.

SAY NO TO UNFAIR BANK CHARGES

Some customers who have been charged up to £40 for unauthorised overdrafts, bounced cheques, or failed direct debits are fighting back against these unjust charges.

For a long time banks have been accused of ripping off customers with the high charges they impose for minor account problems. Complaints against banks have soared, according to the Banking Code Standards Board. The majority of these complaints are about interest rates and unfair charges.

If you are unlucky enough to slip into minor difficulties you can see a mountain of debt pile-up, as banks often charge £25 or more to send a letter and also charge large amounts for going into overdrafts and missing direct debits.

Consumer organisations, such as Bank Charges Hell and Consumer Action Group, claim the charges are illegal and they have urged people hit by excessive penalties to demand their money back – threatening court action.

The reason they say people will be successful is because of a difference specified in the law between charges that can be imposed for breach of contract and penalty charges.

However, there is a way to reclaim unfair charges from the banks and thousands of students and other people are using it to fight back.

InterStudent presents a simple 10-step plan to getting your money back including sample letters you can send to your bank.