Bank Charges - The Law

The “Unfair (Contracts) Terms Act 1977” and the “Unfair Terms in Consumer Contracts Regulations 1999”, are designed to protect you as a consumer. This Legislation specifies that in order for a charge to be lawful it must represent the actual financial loss sustained by your bank.
The arbitrary nature of blanket bank charges means that all customers are charged the same regardless of the sum involved. However, the only charges that are legally applicable are ones covering the actual losses sustained by the bank in administrative costs and interest

With consumers paying up to £40 for a typical unpaid direct debit for a transaction that may have cost the banks a few pence. It’s not hard to see why the banking sector has seen record profits in recent years. What’s more, as these charges are unenforceable under current legislation you are entitled to get these charges back for the last six years.

So how can Charge Claims help? Although these charges are unenforceable its not as simple as just asking for them back. The banks do not want to pay out and will try every tactic in order to avoid this. Chargeclaims.co.uk offers a complete service – customers simply sign up and experts do all the work for them. Chargeclaims.co.uk's expertise in contract and consumer law provides customers with the clout and the confidence to take on the banks and cream off some of the fat cats’ profits.