UK banks have been only too happy to apply bank charges and high penalty fees ranging between £25 to £39 in recent years. Unfair bank charges passed on to customers have allowed the major banks to enjoy billions in excessive profits from charging disproportionate bank charges to customers that have been loyal bank customers for many years.
Often, it is unfortunate individuals experiencing money problems that have been hit the hardest via overdraft penalty charges and other fees.
At Myvesta we regularly assist individuals to recover bank charges, penalty fees of all kinds and credit card fees to the tune of hundreds of pounds that have been unfairly added in a single month.
This is even the case when the client has already informed the bank of their financial difficulties and yet banks have still piled on unfair fees regardless of how this will affect their customer and regardless of the banks responsibilities under the banking code.
However, its now your turn to get 'bank charges' revenge and the Office Of Fair Trading (OFT) has supported you. It literally is 'Payback Time' for bank charges and credit card fees.
Why Excessive Bank Charges Are Considered Unlawful
The OFT announced in April 2006 that its investigation into bank charges and credit card fees levied by banks to their customers are not only unfair but also unlawful in many cases. This has led to thousands of people taking on their banks and claiming back bank charges over the last 6 years.
This is one of the reasons why Myvesta has introduced a representative service with a legal firm specialising in claims recovery to help people reclaim unfair bank charges and credit card fees wherever possible.
If you want us to help you recover the bank charges and fees you are entitled to reclaim, contact us right now.
For the most part the banks have been paying these charges back as they do not want a legal precedent to be set in a higher court. This would open up the floodgates for litigation and they are very aware of this.
Many people realise that they are owed thousands of pounds in bank charges when they add them up over the last 6 years. Banks, unless strongly pressed, have been offering inferior settlements to customers asking for a refund rather than going to court. Banks are now starting to toughen up however by making customers go to the effort of taking them to a small claims court. The banks are conscious that not everyone has the time or determination to see their refund claim through. That's why Myvesta has launched our bank charge recovery service to help you get the funds you deserve.
We've been very surprised that 58% of the people that ask for our assistance to represent them in recovering their bank charges have tried to do it on their own before asking for professional help. In order to get the best refunds possible it is our experience that those that are professionally represented receive higher refunds.
This is due to the fact that people who don't do this on a regular basis are often persuaded by their banks and others to accept inferior offers because they feel it is the best they can do. However recent research has revealed that while 65% of the people that have incurred some form bank charges have disputed these fees at some point in time, only 48% have successfully received a refund on their own.
Should I Fight My Bank For A Refund Of My Bank Charges?
The viewpoint of Myvesta is clear on this matter — YES!
Whether you choose to use our bank charges refund service we have developed or the 'Do It Yourself' resources we provide is a personal decision for you. Either way you have nothing to lose and everything to gain by taking action now. Many people are successfully claiming back thousands in unfair bank charges simply because they made the decision to take a stand. Why don't you?
