Can I Still Claim Bank Charges in 2018

There are two forms of bank charges now that the banks have for a number of years been charging. One is in relation to fees applied when a facility is exceeded or a penalty charge. The other is in relation to fees paid for having a particular type of bank account. This is often referred to as an account packaged account or fee paid account.

In the case of the account packaged fee this can be reclaimed. Why can this be reclaimed I hear you ask! Surely the banks aren’t at it again? Well in short yes they have been, rather than being open and honest with people and saying right everyone you can all pay a fee to have an account they instead chose the murky covert approach. This was to charge a fee and add on supposed benefits, this was the undoing of the banks and has led to yet another investigation and rap on the knuckles by the financial services regulator. Most banks have now changed their accounts and some like Santander do not offer it at all.

Now if you are confused what you can or cannot look at claiming it is the fee of about £10 to £25 paid each month for nonsense like Travel Insurance or Mobile phone cover or such likes. The problems the banks have found themselves in is that again when they got people to change to these accounts from about 2000 onwards they didn’t use the correct sales process which was naughty of them.

We can look and have been successful in looking at obtaining not only a full refund of the charges but also interest and compensatory interest on clients’ accounts spanning the duration of the account. In most cases this can mean a refund of between £1000 and £2000 certainly not an amount to be sniffed at.