Claiming against your bank will not result in your account being closed. Under section 14 of The Banking Code, the Standards Board advised banks to ensure that they do not make a disproportionate response to customers claiming back these default fees and treat the customers sympathetically and positively.

Furthermore, any threat to close an account would be contrary to the Financial Services Authoritys (FSA) principles on treating customers fairly (TCF).

Specialist organisations fearlessly fight on the behalf of the consumer to claim back excessive penalty charges. Complaint letters will be carefully drafted and may include legal precedents which help in the battle to get the right amount of money. The workload involved in tackling bank and credit card companies is substantial. Dealing with phone calls, rejection letters, drafting statements of claim, taking rejected claims to the FOS and calculating correct compensation is a meticulous process. Specialist compensation firms also have useful contacts such as Solicitors and Barristers who can assist and advise on any complex areas.

Such specialist firms also can help with all other types of unreasonable charges. As well as helping reclaim bank account charges for both current and business accounts for the last 6 years, there can also be claims for reclaiming credit card charges, mortgage exit fees, mortgage arrear fees, Payment Protection Insurance (PPI) and other penalty charges.

Most compensation specialists are registered with the Information Commissioner which means that they abide by Date Protection rules. This provides a safe secure environment for your confidential information and one can rest assured that information will not be passed to third parties without consent.

The majority of firms handling such claims for compensation operate on a no win no fee basis. If successful, the firms charge a percentage of the compensation won and this will or will not include VAT. These firms will only charge you for their services once they have successfully claimed back from the bank on your behalf. In the event that the firm fails to get back anything from the bank (though chances are very low) you will not be charged a single penny. There is nothing to lose and plenty to gain.

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