Banks to clearly explain their charges on customer statements.

The Office of Fair Trading are the consumers’ champion and they have now won a significant victory over The Banks.
Banks will now have to clearly explain their charges on customer statements.
This is great news.

In 2006 the average cost for a personal current account was in the region of £150.
80% of these largely unfair bank charges came from unauthorised overdraft charges and credit interest income.
Customers have been fleeced of their money and it is time to claim bank charges back.

The Office of Fair Trade’s intervention has come on the back of Politicians’ expense scandals and other misdemeanours in the Public Domain.
Transparency, It seems, is now the name of the game.

In addition to this new transparency on the monthly statement, banks will be required to furnish full details of charges on an annual summary sheet. This should be interesting!
Up till now it has been difficult, if not impossible for a lot of people to monitor bank charges and better regulate their finances.
This OFT initiative is a step in the right direction and John Fingleton and The OFT team are to be congratulated.
Meanwhile, it is incumbent on Bank customers to investigate whether they have paid too much in bank charges going back six years.

You can do it yourself and details on this page will give you all the necessary information to do so.
Rather, we recommend that you fill in the application form on this page and a specialist claims company will send you an easy to fill in form which will enable them to do it for you.
Take action today. Christmas is coming and a cash refund will come in very useful.
Remember…..Its YOUR money that you are getting back.