"Tell your bank" about financial hardship, says Which?

Money News

www.moneynews.co.uk > Banking > "Tell your bank" about financial hardship, says Which?

Topics

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Features

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Companies

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Money News

bullet
bullet
bullet
bullet
bullet

"Tell your bank" about financial hardship, says Which?

Consumer watchdog Which? has recommended that those who find themselves in financial difficulties should get in touch with their bank to discuss matters.

The advice follows the Supreme Court judgment, which overturned earlier court rulings allowing the Office of Fair Trading to investigate the fairness of charges for unauthorised overdrafts.

Following the ruling, millions of bank customers will not be receiving a refund for banking charges.

Banks are likely to have saved an estimated £2.6 billion in annual income as a result of the decision, according to the BBC.

Which? has recommended that those with outstanding claims who may have been relying on a refund should let banks know about their situation.

Chief executive Peter Vicary-Smith noted that although banks are unlikely to give the money back, they may waive future charges on account of difficult financial circumstances.

"If your bank refuses to help you, then go to the Financial Ombudsman," he added.

Click here for more banking newsADNFCR-323-ID-19486798-ADNFCR

Related News : Banking

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet