Aug 10 2010
Accounting Tip: Laws on Bank Charges
Each one of us have used or are using banking services in managing our money and wealth, if any. Generally, there is little room for errors in most banks as they follow high standards in attending to the banking needs of clients. In some instances, however, due to some neglect on the part of the bank personnel and the client, error in transactions happens such as bounced checks and unauthorized overdrafts that eventually translate to bank charges.
At present, there is no set of laws on bank charges. However, FairInvestment.co.uk
offers some suggestions to help clients claim back bank charges:
1. Use an intermediary company that will claim back the bank charges on your behalf; such companies will give you advice and represent you if it cannot be settled out of court.
2. Write to your bank to request a list of the charges and ask that they be refunded to you. If this fails, write again to inform them that you are willing to take the case to a small claims court.
The above suggestions are not only insightful and wise but also give us a better idea on how we can assert our banking rights at any given situation. I hope they be of help to you as they have been to me.
Comments Off