Jump to content


Sign in to follow this  
ukaviator

What the FCA’s latest investigation means for free banking

style="text-align:center;"> Please note that this topic has not had any new posts for the last 2042 days.

If you are trying to post a different story then you should start your own new thread. Posting on this thread is likely to mean that you won't get the help and advice that you need.

If you are trying to post information which is relevant to the story in this thread then please flag it up to the site team and they will allow you to post.

Thank you

Recommended Posts

The regulator appears to be nudging the industry to move away from using some customers to pay for others

 

The City regulator is to investigate overdrafts amid a suggestion that it will no longer accept the convention that high charges and interest from those in the red are needed to pay for free banking for all.

 

A history of the bank charges battle

 

The relationship between banks and customers over overdrafts has long been fractious and ended in the High Court. A decade ago, fees had been ratcheted higher and customers were beginning to notice; anger was rising. By 2006, some banks were charging £40 for each misdemeanour, such as breaching an overdraft limit or a bounced payment.

 

£750 for a £2 overdraft

 

At the time, I encountered some incredible cases. In one instance, a reader went £2 overdrawn, was charged £28 for doing so, £35 for the letter telling them so, and then hit for £5 each day they were in the red. The bill ended up at £750.

 

More: http://www.telegraph.co.uk/finance/personalfinance/consumertips/banking/10758760/What-the-FCAs-latest-investigation-means-for-free-banking.html


Some useful links.

FAQ's

Making Posts

Letter Template Library

Bank Contact Details

AQ Guide to Completion

Court Fees

Data Protection non Compliance

Witness Statements for Court Bundle

Banking Code Website

Limitations Act

Fast Track Costs

A-Z Index

Mis-Claim Tutorial

Step By Step Instructions

 

Remember: The Ark was built by amateurs-The Titanic by professionals.

 

Please click my scales if you find my advice helpful !

 

If your claim is successful, please donate 5% so that it can continue to help others.

 

Your decisions and actions are your own, and should you be in any doubt, please seek qualified professional legal Help.

 

WARNING TO ALL

Please be aware of acting on advice given by PM .Anyone can make mistakes and if advice is given on the main forum people can see it to correct it ,if given privately then no one can see it to correct it. Please also be aware of giving your personal details to strangers

 

HAVE YOU BEEN TREATED UNFAIRLY BY CREDITORS OR DCA's?

 

YOU CAN NOW COMPLAIN TO THE OFT ABOUT THEIR CONDUCT UNDER THE CONSUMER PROTECTION FROM UNFAIR TRADING REGULATIONS 2008.

Share this post


Link to post
Share on other sites
Sign in to follow this  

  • Recently Browsing   0 Caggers

    No registered users viewing this page.


  • Have we helped you ...?


×
×
  • Create New...