How Do I Reclaim Money From Unfair Bank Charges?
In April of 2006 the Office of Fair Trading (OFT) declared that charges of more than £12 for bank services were unreasonable and unfair. Moreover, under the data Protection Act, the bank would be obliged to disclose to you (if asked in writing) all charges made in the last six years. Given the OFT ruling, it is likely that the bank could be persuaded to rebate at least some if not all charges in excess of the £12. The most common charge would be for unauthorised overdrafts, but charges for statements, interest on overdrafts, unpaid or late payment of direct debits and standing orders may also feature. Once you have identified any charges that you think are unfair, you need to write the bank with details and a claim for a refund. If the bank does not respond positively you can ask the Financial Ombudsman Service for help. In theory, the OFT ruling also applies to credit card companies so you may want to approach them for reimbursement on penalty fees levied for late payment. Keep in min
