Sinn Féin - On Your Side

People encouraged keep a check on bank charges

18 April, 2007


Sinn Féin Economic Spokesperson, Mitchel McLaughlin MLA has urged bank customers to check the charges their banks levy after the Consumer Council discovered bank customers in the North could have paid out up to £210m in unauthorised overdraft charges in the past six years.

Mitchel McLaughlin said:

"The findings by the Consumer Council that bank customers in the North may have paid out up to £210m in unauthorised overdraft charges in the past six years, shows the importance of customers regularly checking and querying their bank statements.

"Customers need to challenge banks and the charges they impose. The charges are ridiculously high and bear no relationship to the real costs involved. It is pure and simple profiteering.

"Bank customers have been making an increasing number of complaints about overdraft charges and levels of service in recent years. It is especially unfair on customers who only use banks because they are pressurised by companies to pay regular commitments by direct debit and occasionally run up a small unauthorised overdraft. I am calling on banks to voluntarily curtail this unfair practice or else government must act." ENDS

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