Banks bite back as consumers claim for charges

Thu 26 Jul 2007 4pm

A study from the financial website This is Money has revealed that bank customers are feeling a backlash as they claim for reimbursement from "unfair" charges.

One in eight of claimants polled said that they had been threatened by their bank with having their account cut off.

The survey also revealed that one in four had won back the full amount asked for.

Chief executive of the Banking Code Standards Board, told This is Money that banks "must… treat fairly any customers who are experiencing financial difficulties."

Customers have been claiming from banks at an astonishing rate: the website has also previously revealed that banks had been forced to take on extra staff to deal with as many as 500 claims per day, as consumers rebel against charges for going overdrawn, for example.

Investment bank Credit Suisse released findings last week which claimed that repayments of charges had cost banks over £200 million this year alone.

The Office of Fair Trading (OFT) is currently investigating bank charges as a whole. It will report on its findings later in the year.

http://www.thesun.co.uk/article/0,,2005300000-2007340410,00.html
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