Bank charges for unauthorized overdrafts, bounced cheques and returned direct debits are those ‘damages’. Bank charges to customers were arrived at by totaling these costs and then making assumptions about the number of customers that are going to incur charges. Bank charges for going overdrawn or for bounced cheques are the equivalent of a charge for breach of contract, known as liquidated damages, and the courts can enforce payment. So, how do you go about getting the bank charges back. There are only two bank charges cases known about in which a bank has gone to court, defended its charges and won. You can claim back any unfair bank charges, which the law would class as a penalty, that you have accrued over the last 6 years. The true costs of these so called bank charges to date have not been proven any more than a few pounds.
Claiming back your unfair bank charges can be a long and drawn out process, with the banks doing everything they can to delay you receiving back your unfair bank charges in the hope that you give up claiming back your unfair and illegal bank charges. An example of this could be perhaps if a customer is a day late making a payment,...
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