Complaints over bank charges 'on the increase'

Posted by Emily Jones

There has been a rise in the number of complaints made by consumers concerning bank charges, new figures show.

According to the Financial Services Authority (FSA), there was an increase in disputes over back-dated fees during the second half of last year.

The overall level of complaints went up to 2.6 million, while disagreements about banking products in this period increased to just over two million.

Most of the jump can be accounted for by the fact that the statistic includes two years' worth of back-dated issues related to the unauthorised overdraft charges test case, the FSA noted.

The organisation - which is an independent non-governmental body given statutory powers by the Financial Services and Markets Act 2000 - pointed out that banks now have to deal with the complaints related to the charges.

Funded by the firms it regulates, the FSA is accountable to Treasury ministers and, through them, to parliament.
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12/05/2010 15:06

News category: Consumer

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