The Times - Bank customers ‘too scared’ to seek refund

ONE in five of bank customers hit by “unfair” penalty charges say they are too scared to claim their money back because of banks’ bully-boy tactics, but consumer groups say you should not let it put you off.

Institutions such as Alliance & Leicester and Lloyds TSB have threatened to close claimants’ accounts once they have reclaimed their money and others use frustrating delaying tactics. A quarter of people who have lodged claims found their bank had been unhelpful and unresponsive, while a further third had to chase their bank for a response, according to the consumer lobbyist Which?

Emma Bandey at Which? said:

“Claiming back unfair bank charges is a simple process. If your bank does not cooperate, you should refer the case to the Financial Ombudsman Service: so far the banks have chosen to settle all cases referred to the FOS.”

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