Menu
11/06/2007
£1,000 a day claimed in bank refunds
Around £100,000 in penalty charges has been paid back to customers, the General Consumers’ Council has revealed.
Bank customers are getting unfair charges refunded at a rate of £1,000 per day through the Consumer Council’s Stop Unfair Charges campaign.
Alison Laird, Senior Consumer Affairs Officers at the Consumer Council, said: “These unfair charges affect everyday people and takes money out of our economy. One young couple just about to get married who face the financial pressures of paying for a wedding and getting on the property ladded had £2,000 after challenging the bank.
“Consumers have found their voice and should continue to use it. If you find you are going into the red regularly, the Consumer Council encourages you to speak to your bank about options that will help you avoid falling victim to these excessive charges, such as setting up an overdraft facility or budgeting differently.”
Last month, the Competition Commission told Northern Ireland’s four main banks that they were charging their customers too much.
A two-year investigation also found their charges were not clear and current customers faced an unduly complex charging structure.
Banks have since introduced fee-free accounts and several new products have been launched.
(JM/SP)
Bank customers are getting unfair charges refunded at a rate of £1,000 per day through the Consumer Council’s Stop Unfair Charges campaign.
Alison Laird, Senior Consumer Affairs Officers at the Consumer Council, said: “These unfair charges affect everyday people and takes money out of our economy. One young couple just about to get married who face the financial pressures of paying for a wedding and getting on the property ladded had £2,000 after challenging the bank.
“Consumers have found their voice and should continue to use it. If you find you are going into the red regularly, the Consumer Council encourages you to speak to your bank about options that will help you avoid falling victim to these excessive charges, such as setting up an overdraft facility or budgeting differently.”
Last month, the Competition Commission told Northern Ireland’s four main banks that they were charging their customers too much.
A two-year investigation also found their charges were not clear and current customers faced an unduly complex charging structure.
Banks have since introduced fee-free accounts and several new products have been launched.
(JM/SP)
Related Northern Ireland News Stories
Click here for the latest headlines.
28 April 2006
NI bank customers are paying more
A report by the Competition Commission (CC) has revealed that Northern Ireland bank customers are paying higher charges for current accounts than those in the mainland. The CC report claims that this is due to a lack of competition between the four main banks in the province - Bank of Ireland, Ulster Bank, First Trust and Northern Bank.
NI bank customers are paying more
A report by the Competition Commission (CC) has revealed that Northern Ireland bank customers are paying higher charges for current accounts than those in the mainland. The CC report claims that this is due to a lack of competition between the four main banks in the province - Bank of Ireland, Ulster Bank, First Trust and Northern Bank.
15 May 2007
NI customers should pay 'fewer bank charges'
Banks in Northern Ireland must make improvements to ensure their customers pay fewer bank charges, a report has stated. The Competition Commission (CC) found that competition was limited by banks' “unduly complex” charging structures and practises and their failure to explain them and customers’ reluctance to switch to another bank.
NI customers should pay 'fewer bank charges'
Banks in Northern Ireland must make improvements to ensure their customers pay fewer bank charges, a report has stated. The Competition Commission (CC) found that competition was limited by banks' “unduly complex” charging structures and practises and their failure to explain them and customers’ reluctance to switch to another bank.
21 July 2017
Woman Arrested On Suspicion Of Fraud And Money Offences Released
A 70-year-old woman arrested on suspicion of fraud and money offences has been released on bail pending further enquiries. The woman was arrested in west Belfast following and incident in Coleraine after the PSNI were alerted of a suspicious withdrawal from a 74-year-old man's account.
Woman Arrested On Suspicion Of Fraud And Money Offences Released
A 70-year-old woman arrested on suspicion of fraud and money offences has been released on bail pending further enquiries. The woman was arrested in west Belfast following and incident in Coleraine after the PSNI were alerted of a suspicious withdrawal from a 74-year-old man's account.
07 November 2005
Second man charged over Northern Bank raid
A second man has appeared in court today charged with offences in connection with the £26 million Northern Bank robbery last December. Martin McAliskey, 42, denied charges of perverting the course of justice, in relation to possession of a Ford Transit vehicle. He was granted bail.
Second man charged over Northern Bank raid
A second man has appeared in court today charged with offences in connection with the £26 million Northern Bank robbery last December. Martin McAliskey, 42, denied charges of perverting the course of justice, in relation to possession of a Ford Transit vehicle. He was granted bail.
12 October 2006
Complex bank charges criticised
Banks in Northern Ireland have been criticised for their "unduly complex" charges levied on personal current account holders, in a report from the Competition Commission. However, account holders were also criticised for not "shopping around" to find the best rates and exploit what competition is present in local banking services.
Complex bank charges criticised
Banks in Northern Ireland have been criticised for their "unduly complex" charges levied on personal current account holders, in a report from the Competition Commission. However, account holders were also criticised for not "shopping around" to find the best rates and exploit what competition is present in local banking services.
-
Northern Ireland WeatherThis Evening and Tonight:It will be cloudy with a spell of heavy rain pushing south through late evening and the early hours, soon followed by some clear spells. Minimum temperature 6 °C.
