Money News
12th August 2008
Bank charge claims bonanza continuing
Britons are carrying on reclaiming bank charges despite the fact that the furore surrounding the fees has died down in recent months, it has been claimed.
Jo Roberts, director of needanadvisor.com, said the practice is still prevalent, even though stories about the fees have largely disappeared from newspapers.
She explained: "I think it's gone out of the news a lot but it's still going on. If you look on any of the consumer facing financial website's, it's quite rife.
"Most of the bigger banks realised they were unfairly charging, and they have compensated people."
However, Ms Roberts perceives that an end is in sight and said this could be before the year is out.
"Give it another six months and everybody that is going to claim probably will have. Maybe they won't all be settled by then, but new claims will fall away. Banks are changing their terms and conditions."
A survey commissioned by uSwitch.com found that the average bank charge incurred was £25.73.
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