Which? fears banks are ‘muddying overdraft charge waters’

Consumer watchdog Which? has said that it is still not clear if consumers will benefit from the recent controversy surrounding overdraft fees.

The Office of Fair Trading (OFT) is currently engaged in a protracted investigation of current account charging.

Which? notes that some banks have begun changing their charging systems recently and opined that they may be trying to “muddy the waters” for the OFT.

Spokesman Phil Jones has advised consumers to continue with claims for overdraft fee refunds against their banks.

“Your case will be put on hold pending the outcome of the court case, but your bank has to acknowledge your claim and keep you informed,” he explained.

He was referring to a test case which is currently being pushed through the courts, with a case formed around the contention that penalty fees are unlawful under the Unfair Terms in Consumer Contract Regulations.

© Adfero Ltd

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