Are bank account charges lawful?
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stanford
Apprentice
Joined: 26 Jun 2007
Posts: 3
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 Posted: 05/25/08 - 08:30 Post subject: |
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| Hello! Recently I have seen some newspaper articles about people suing their banks, in relation to bank charges. I am keen to learn more about this since I am subject to heavy charges as well sometimes, like everyone else. Are these bank charges really unlawful? Is there any lawyer out here who can tell me more? |
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wilhelmina
Apprentice
Joined: 13 Sep 2007
Posts: 4
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| Posted: 06/24/08 - 00:04 Post subject: |
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| I am no lawyer, but I did sue my bank once... ...successfully. So I can tell you that in most cases these charges are not lawful. The bank can charge you so much they need to recover the costs they incurred due to your behaviour (unauthorised overdrafts etc) but cannot penalise you as they are not a law enforcing institution! |
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