According to Which! 1 in 5 people are affected by charges imposed on their bank accounts by their bank for failing to pay Direct Debits, Standing Orders and Cheques.
Further to this, they also impose charges for going over your overdraft limit - sometimes, a charge for each day you are over your limit.
The Banks often say that these charges are intended to compensate them for their loss. However many people believe that they are far higher than that. If this is true then the charges are dispropotionate penalties and are invalid. These charges can be crippling for some people.
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