
The OFT ruling gives consumers the green light to claim back bank charges such as overdraft fees. In the eyes of many, banks have been getting away with overcharging for years, others see them as vital if banking is to remain free (if you're in credit!).
"If you exceed your overdraft limit you breach your contract with the bank.
The law says the penalty for this should not exceed the cost of the breach. The OFT said default charges higher than £12 were unacceptable in law as they were in effect a fine imposed by the banks."
What do you think of the banks, and what are your own experiences with charges?
Share your views below









Of course the bank won't pay if you don't have the funds. The sheer amount of people I know who say the funds will be available beggars belief, if they pay yours with no collateral they charge others to cover potential losses. People need to control their costs as I find it hard to believe they don't know their income and outgoings and modify their spending accordingly. No I'm not rich!
Paul,In my case i had been with my bank for 25yrs without getting any charges, then i suffered a brain injury and could not work for 3yrs our income fell by 2 thirds, mortgage to pay kids to feed, just by going slightly overdrawn every month we had charges of £7000 which i won back, luckily my company held my job open for me, and i have been back at work for a year and have managed to clear all my debts, this could happen to anyone.
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