Which? Urges Consumers To Claim Back Bank Charges
Which? is urging consumers to continue claiming back penalty charges as they have in the past
As banks look to change the way they charge for exceeded overdraft limits Which? is urging consumers to continue claiming back penalty charges as they have in the past.
The consumer group believes that in an attempt to draw attention away from the High Court test case over charges, some banks may be trying to "muddy the waters".
Phil Jones, a personal finance campaigner at Which?, explained that while some customers may benefit from, for example, Lloyds TSB's new charging structure, whereby there is a tiered charge system, others will not.
"We welcome changes where charges are reduced and easier to understand, but we suspect some banks may be trying to muddy the waters ahead of their date in the High Court with the Office of Fair Trading," he remarked.
He said the advice of Which? has not changed and the group would still urge consumers to claim back charges.
Cases will be put on hold pending the outcome of the court case, but banks must acknowledge claims and keep customers informed, he explained.
Meanwhile research from MoneyExpert.com shows that 71 per cent of consumers believe bank charges are unclear and want to see greater transparency.