FWIW-I think Mr Angry is absolutely spot on.
There was a case recently wherby the banks were taken to court over high 'late payment' charges as the charges were in excess of what it actually cost the bank.
Basically, no one is allowed to charge excessively for a late payment & would lose in a court of law if challenged.
I have some info somewhere that I'll dig up shortly.
[Edit]
http://www.bankcharges.info/
http://idigital.vm.bytemark.co.uk/bag/
www.BankActionGroup.com
Stephen Home is the man that took the banks to court & won.
[Edit 2]
Quote:
|
Originally Posted by Bank Action Group
So, the question is this: Does it really cost a bank £39 to NOT pay a Direct Debit for, say £3? I don’t think so. Thankfully, neither does the OFT, or indeed the courts. Come to that, the banks don’t think so either. When challenged to prove themselves in a court of law, they ALL back down and hand the money back.
|
[Edit 3]
http://forums.moneysavingexpert.com/...2&page=1&pp=10