Anorak News | Banks Resorting To Dirty Tactics

Banks Resorting To Dirty Tactics

by | 26th, July 2007

AS the illegal bank charges debacle rumbles on, news that the banks are resorting to scare tactics will come as little surprise, unfortunately.

According to a survey by the financial website, thousands of customers who have complained to their bank about illegal charges have been threatened with having their accounts closed.

More than one in eight people who has attempted to reclaim penalty fees for going overdrawn or breaching their overdraft limit has been told by their bank that they could have their account shut down. This behaviour by the banks rather goes against the principles laid down in the Banking Code, which state that banks must treat customers fairly when they are in financial trouble.

Andrew Oxlade, editor of, says: “Excessive bank charges have been imposed on millions of people across Britain and banks are now using all manner of underhand tactics to deter customers from reclaiming. We have seen all sorts of tricks – threatening to close accounts, charging yet more fees for old statements and dragging their heels when it comes to making a decision on a refund.”

The research also reveals that one in four people who complained to their banks won back the full amount they were claiming for. However, 17 per cent said that they had to wait over a year to receive their money.

While these dodgy charges are illegal, don’t expect anyone to end up in prison for the crime. It’s far easier to bang up shoplifting single mothers.

Posted: 26th, July 2007 | In: Money Comment | TrackBack | Permalink