Banks have been refunding their customers £000‚s for unlawful penalty charges.

Have you made your claim yet?

Every day Banks and other lenders have been refunding £000's for penalty charges unlawfully charged to their clients. If you have suffered penalty charges from your Bank, Credit Card Company, Mortgage provider or other lender for late payments, unauthorised overdrafts, returned cheques or unpaid direct debits at any time during the last 6 years (12 years for mortgages) then you may be entitled to a refund from your Bank or lender.

Money Advice can help you submit your claim to your bank and building society, and will only charge you a fee for recovery if successful. Currentlly this is twenty five percent of the amount recovered.

The Office of Fair Trading is currently taking the banks to court in an attempt to prove unauthorised overdraft charges are unfair. Customers however can still register a complaint with the banks. But new complaints will not be dealt with until the court case is over. The Financial Services Authority has also allowed High Street banks to hold complaints until the ruling has been made. The Finanncial Ombudsman Service is also not dealing with claims until the matter is resolved. Money Advice believe that you should still register your complaint with the banks and will monitor the situation, on your behalf, as it progresses to ensure that should the OFT claim be successful we can act on any decision by the court as soon as it is made.