The Sun - Banks in defeat on 'rip-offs'

A MASSIVE probe which could see the end of free banking was under way last night — as 30 angry customers won £20,000 in refunds.

The Office of Fair Trading is investigating the amounts banks charge for going into the red.

Chief executive John Fingleton stressed: “We wouldn’t want to do anything that would result in consumers paying more.”

But he said free banking was a “myth” and added: “If consumers have to pay more up-front fees in order to have hidden fees removed, it is something we should look at."

Meanwhile, the 30 customers were celebrating at Leeds County Court, West Yorks, after claiming they were victims of excessive charges.

Almost all their claims, from £150 to £10,000, were settled out of court.

It meant the banks would not have to face a test case at a High Court. That might result in them having to repay charges to millions of customers across Britain.

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