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Re: Reclaim Your Bank And Card Charges
the issue I have with it is it's too much like a 'fines' system where they dont just hit you once but again and again as each direct debit bounces often leaving someone on a low income with charges in the £100s for being overdrawn by a small amount. this has never happened to me but I have seen the stress it has caused.
the interest rate on being over drawn should be increased in order for these charges to be dropped but the banks would never do that as it would expose the real APR inflicted on these people.
alternatively there should be a monthly charge when you go overdrawn unauthorised but it isn't then compounded with charges left right and centre for transactions.
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