Banks Overcharging for information on exit fees

Banks who overcharged customers for things like exit fees and other late payment fees have now been accused of overcharging customers who want information about their overcharging. Customers are entitled to ask the bank for a list of all charges. The Data Protection Act stipulates the cost should be £10, but many banks are charging upto £48.

The Financial Ombudsman Service is being overwhelmed by complaints from customers who claim banks are taking too long to respond.

THe banks are being investigaged by several different bodies.

The Office of Fair Trading OFT is investigating a fair level of bank charges.

The Financial Services Authority is investigating the slow response time of banks to customer requests