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The Financial Services Authority (FSA) has announced plans for a significant restructuring of the authority. We will see the retail and wholesale divisions merged into one business unit, risk...
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Thursday 14th August 2008
While we have all seen the news about the banks being taken to court by disgruntled customers it seems that many in the UK do not actually know how much they paid in charge last month, over the last six months or the last year. Despite all of the warnings about fraud and potential mistakes at some UK banks it seems that far too many people are not prepared to do their bit. If you are charged an incorrect fee, but do not check your statements, how can you expect to get your money back?
Banks in the UK are making literally billions of pounds a year from bank overdraft charges, charges for statements and charges for actually seeing your bank manager. Can you hand on heart say that you were aware of these charges and any fees you may have been charged?
The problem for many people is the fact that they still expect banks to operate as they did 20 years ago when people were people not simply numbers. Everything is now automated and fees / charges are often debited by head office staff. While the amounts involved can add up over the year, there is very little customers can say if they are not prepared to do their bit! |
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