
This petition is now closed, as its deadline has passed.
We the undersigned petition the Prime Minister to follow the Bank Charges Reclaiming Charter, which aims to end both the current suspension of reclaiming & the financial misery caused by unfair penalty charges. More details
Submitted by Martin Lewis of MoneySavingExpert.com – Deadline to sign up by: 13 November 2007 – Signatures: 70,661
The FSA has suspended reclaiming awaiting a decision on the OFT’s agreed test case with the banks.
This decision was taken without consultation with the consumer groups who’ve been championing reclaiming. MoneySavingExpert, ConsumerActionGroup & PenaltyCharges are between them helping 1.5m+ people reclaim, & the charter expresses their opinion.
In the UK it’s virtually obligatory to have a bank account, yet there’s no competition over charges, & penalty charges often leave finances irrevocably damaged.
The Charter’s key clauses are
* £5 is a fair max for bank charges
* The stay on reclaiming is anti-consumer & should be stopped
* If not, a stay should also be put on banks levying charges & ensuing credit defaults
* It should be pre-decided that if the case is successful, banks must be made to pay back past charges plus interest automatically; customers shouldn’t need to complain, and all related credit defaults should be wiped.
The full charter is available via the web.
Because there are so many signatories, only the most recent 500 are shown on this page.
Because there are so many signatories, only the most recent 500 are shown on this page.