Bank Charges

I guess most of you have seen in the news (yesterday) that bank charges have been condemned.

We get charged £30 when a DD doesnt go through or a cheque bounces, i realise the charge is different depending on account but it has transpired that it only costs the bank between £2.50 - £5 for these.

So the rest of the charge is their profit! What a damn cheek. And Halifax, to name one, applies a higher bank charge to those with an account only those on a low income can hold whilst those that work and have super current accounts pay a lesser charge..is that fair?

Anyway, on www.moneyexpert.com, they have designed a template letter which you can download. The story i read on AOL news yesterday said that 180,000 of these letters had been downloaded and sent to banks, i believe the lette threatens the bank with Court Action over the charge. The story said that in ALL cases the bank refunded the charge.

You will also find information at the Office of Fair Traing website (www.oft.gov.uk) type in Bank charges as a search and the info will come up.

I hope this helps some of you.....