Reclaim those bank charges!

Guests: Mike Naylor, Personal Finance Expert, uSwitch.com
Date: 31 Aug 2007
Time: 13:00 UK time
Further info:
www.uswitch.com


Recent research by uSwitch.com shows British banks have made billions of pounds in profit by charging just under 20 million customers for going overdrawn and making further transactions whilst still in the red. At up to 35 a time, some people have been stung for hundreds, even thousands of pounds in total, but the Office of Fair Trading thinks everyone has paid too high a price. A recent consumer fight-back has seen thousands of people threaten banks with legal action unless they refund their charges but with a test case now looming, the payback might be halted with people's compensation claims stuck in limbo.

    
  
 
 
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Mike Naylor, Personal Finance Expert, uSwitch.com