Bank charge claims ‘could total 8 million’

Millions of British consumers could claw back money taken from them in charges by banks since 2001 if a court case rules the amounts levied were unfair, it has been suggested.

Research by consumer group Which? found that 63 per cent of those who have been charged for exceeding overdraft limits, bounced cheques and missed payments have not attempted to reclaim these.

It commented that the floodgates could open if the case goes in favour of the Office of Fair Trading this Wednesday.

Such a situation may help those struggling with debt management issues, as some of them may be in line to reclaim cash and therefore cut their debts.

Some banks have already taken steps to trim the amount they levy in charges.

In September, NatWest and the Royal Bank of Scotland revealed they were cutting the size of the charges they would make for missed payments, bounced cheques and unauthorised overdrafts.

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